Wealth Management Blog

IRA Income Restrictions? Consider the Backdoor

Posted by Tom Limoges on Feb 21, 2017 12:32:52 PM

IRA Income Restrictions? Consider the Backdoor

Over the last several weeks I have received questions from clients who are looking to maximize retirement savings but are limited in options based on the Internal Revenue Code income restrictions. IRAs and Roth IRAs both offer unique tax benefits for retirement savers. Traditional IRA contributions have the potential to reduce income taxes in the year for which they are made (taxpayers have until the Federal tax deadline to make the applicable contributions for the year in question). Income generated from IRAs is taxed in the year when withdrawals are taken, traditionally in retirement. Roth IRA contributions are made “after tax” meaning invested funds go into the Roth IRA on previously taxed income from the taxpayer(s). Therefore, distributions at normal retirement age are tax-free. The Internal Revenue Code imposes restrictions to both of these IRA accounts at certain income levels. For those in this situation, there is a solution – the Backdoor Roth IRA.

Read More

Topics: Roth IRA

Investment Basics: Financial Wellness Throughout Your Life

Posted by Colin OShea on Feb 20, 2017 10:40:51 AM

Investment Basics: Financial Wellness Throughout Your Life

Maintaining good financial health throughout your life takes time and commitment. You need to make smart choices and keep healthy habits at each stage of your life. From the early days of your career until you reach retirement, here are some ways to help you achieve financial wellness.

Read More

Topics: Investing, Investment Basics

S&P 500 Volatility

Posted by Don Yusten on Feb 13, 2017 11:01:16 AM

S&P 500 Volatility

There’s an old market saying along the lines of, “…the financial markets will behave in a manner to confound the expectations of the majority of investors.” We’re seeing a little bit of this play out today.

Read More

Topics: market volatility

Investment Basics: Managing an Inheritance

Posted by Colin OShea on Feb 13, 2017 10:53:46 AM

Managing an Inheritance

Inheriting money can alter your financial situation rather quickly. But there’s no need to act hastily when you receive an inheritance. The best immediate move you can make may be simply to put the funds in a safe, short-term investment. Then you can plan — without pressure — how to incorporate your inheritance into your overall finances. 

Read More

Topics: Investment Basics, Inheritance

The Path to Higher Rates

Posted by Michelle Holmes on Feb 6, 2017 12:11:57 PM

ratespath_blog.png

The Federal Open Market Committee (FOMC) met last week to determine whether to raise short-term interest rates. As expected, the FOMC left rates unchanged. The FOMC did not indicate when the next rate hike would be. The unsurprising statement from the FOMC reflects the December rate outlook that the Fed is not in a hurry to raise rates. The committee seems content to wait and see how the economy looks closer to the next meeting in March before making an indication of the next interest rate hike.

Read More

Topics: FOMC, Portfolio Management

Investment Basics: Total Return — An Investment’s Bottom Line

Posted by Colin OShea on Feb 6, 2017 9:02:25 AM

Total Return — An Investment’s Bottom Line

When you get your plan statements, pay attention to the section that provides total return information. It’s important because it gives you the bottom line on how well an investment fund or portfolio is performing. 

Read More

Topics: Investing, Investment Basics, Portfolio Management

Investment Basics: Social Security — How Much Will You Keep?

Posted by Colin OShea on Jan 30, 2017 1:36:30 PM

Investment Basics: Social Security — How Much Will You Keep?

Ever since you started working, you’ve paid FICA taxes. And now you’re anxious to start collecting your Social Security benefits. But, if you have other income, your net benefits might be less than you think.

Read More

Topics: Retirement Planning, Social Security

An Underwhelming Response

Posted by Mike Moreland on Jan 30, 2017 1:33:17 PM

An Underwhelming Response

The Dow Jones Industrial Average crossing the 20,000 mark was the event of the week.  Headlines, long histories in the financial press, and projections for the years to come were abundant.  What was missing? 

Read More

Topics: Stock Market, Portfolio Management

2017 Resolution #2: Take Your Family On A Financial Road Trip With This Checklist

Posted by Wealth Management Team on Jan 24, 2017 11:37:20 AM

2017 Resolution #2: Take Your Family On A Financial Road Trip With This Checklist

Family road trips are a bit of a lost art. Back in the day, with nothing to fill the miles but scenery and books and conversation (a question-and-answer format consisting mostly of “Are we there yet?” and “No.”), road trips bonded families together one way or another with memories—and pictures—to prove it. 

Read More

Topics: Financial Planning

A New Administration

Posted by Colin OShea on Jan 23, 2017 10:19:29 AM

A New Administration

News on Friday centered on a historic event, the inauguration of the 45th President of the United States. The inauguration marks the transition of power to the incoming president. What impact will President Donald Trump and his new administration have on the economy? This is a common question whenever a new administration enters office, and it is hard to know exactly what to expect. Economists believe there are a few likely themes to watch for from the new administration.

Read More

Topics: Stock Market, Economics, U.S. Economy