Finance Decoded

December 11, 2018

With the holiday season upon us, your to-do list might seem endless. In the midst of preparing for all the festivities, have you taken the time to review your end of year financial checklist? Review our End of Year financial to-dos to help ensure you start 2019 out on the right ...

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Things to Do for 2019: January 31, 2019 Deadlines Part 4 of 4 Check that clients 70½ or older in 2019 receive their notification about their RMD for the upcoming year. Be sure that the calculation has been done correctly and that the 2018 year-end account balance is correct. Do a Form ...

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Did you know there is no minimum age for having an IRA? As long as your child has earned income, you can open an account in their name. Whether they contribute to the IRA with their own money from working or a gift from you, the power of compound interest can help them get a significant head start ...

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Things to Do for 2019: January 31, 2019 Deadlines Part 3 of 4 Make it a New Year’s resolution to check IRA beneficiary forms and employer plan beneficiary forms. If you or a client got married, had a birth/adoption or a death in the family in 2018, these forms may need to be updated. What ...

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Things to Do for 2019: December 31, 2018 Deadlines Part 2 of 4 Complete 2018 qualified charitable distributions (QCDs). QCDs allow IRA owners and beneficiaries who are age 70½ and older to transfer up to $100,000 of IRA funds tax-free to charity. These must be done by the end of 2018.

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Things to Do for 2019: December 31, 2018 Deadlines Part 1 of 4 Make sure that 2018 required minimum distributions (RMDs) for all IRA account owners who reached age 70½ prior to 2018 are paid out. IRA owners generally use the Uniform Lifetime Table to find the life expectancy factor ...

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November is Long-term Care awareness month. How much does eldercare cost, and how do you arrange it when it is needed? The average person might have difficulty answering those two questions, for the answers are not widely known. For clarification, continuing reading "How much do you really know ...

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A qualified charitable distribution, or a QCD, is a distribution from an IRA that goes directly to a qualifying charity and is not included in the taxable income of the IRA owner. Under the new tax law, QCDs are more valuable than ever. Using a QCD may significantly increase your tax savings under ...

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Can IRAs be used to benefit a charity? IRAs can be a great source of funds to provide a benefit for a charity.This holiday season, you may be considering using your IRA to benefit your favorite charity. If you decide to do so, there are certain traps you should avoid to maximize benefits to both ...

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Life insurance and Roth IRAs have a basic structure in common: they are both wealth transfer tools that help facilitate an efficient transfer of assets from one generation to the next and can provide a tax-free legacy. Despite their similarities, life insurance and Roth IRAs are very different, and ...

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October 16, 2018: Is Now the Right Time to Go Roth?  Some say yes, pointing to the recent federal tax reforms. Will federal income tax rates ever be lower than they are right now? Given the outlook for Social Security and Medicare, it is hard to imagine them falling much further. Higher federal ...

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One of the most important decisions you’ll make about your retirement is when and how to receive your Social Security benefits, but it’s crucial to understand potential tax implication prior to doing so. For many retirees that will have additional sources of income in retirement, Social Security ...

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As the Baby Boom generation ages, advisors increasingly will be working with clients in the distribution stage of their portfolios. Advising on IRA distributions can be more challenging than advising on accumulation. If clients save substantial amounts, invest in a well-diversified portfolio, ...

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It’s important to identify the myths of income planning, which are roadblocks to your financial success. Social Security Myth: “Social Security starts at age 62!” The Truth: That’s true – now. But that doesn't mean the federal government won’t one day raise the minimum age – or reduce benefits ...

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Investors are asking if they should buy bitcoin or invest portions of their retirement funds in the cyber-currency. The air is filled with hype: bitcoin is “unstoppable,” it is “the answer,” it is “the future.” But it may also be heading for a crash. Here are a few tips before investing in ...

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Do you want access to money from your retirement accounts but aren't sure of the real costs involved? Most retirement accounts have a set age requirement you must reach before making penalty-free income distributions, which is usually 59.5 but can sometimes be as early as age 50. If you decide ...

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As you plan for the future, don’t leave out one of the most overlooked must-do’s: naming the beneficiaries of your retirement assets. Updating your beneficiary forms ensures that the legacy you worked so hard to build will be distributed correctly. Don’t delay -- the designations on your ...

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It’s important to identify the myths of investing, which are roadblocks to your success as an investor. Stock Picking Myth: “Stocks can be bought and sold in advance of their future price movement.” The Truth: On average, 80 percent of all professional stock pickers fail to beat their ...

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