Exceptions to 10% Early Withdrawal Penalty
May 20, 2024
Withdrawing taxable funds from a tax-deferred retirement account before age 59½ generally triggers a 10% federal income tax penalty, on top of any federal income taxes due. [Distributions from Section 457(b) plans are generally not subject to an early distribution penalty; and the penalty for distributions from SIMPLE IRA plans during your first two years of participation is 25%, 10% thereafter.] However, there are certain situations in which you are allowed to make early withdrawals from a retirement account and avoid the tax penalty. (Check your specific plan provisions to see whether a particular withdrawal option is available.)
IRAs and employer-sponsored retirement plans have different exceptions, although the rules are similar.
Tags: Certified Financial Planner Charlotte NC, Family Wealth, financial advisor charlotte nc
Early Retirement Offer?
May 20, 2024
In today’s corporate environment, cost cutting, restructuring, and downsizing are the norm, and many employers are offering their employees early retirement packages. But how do you know if the seemingly attractive offer you’ve received is a good one? By evaluating it carefully to make sure that the offer fits your needs.
Market Update – Navigating May’s Stock Market Outlook
May 10, 2024
After a strong first quarter for stocks, some April showers rained down as the S&P 500 fell about 4% last month. Hopefully those showers will bring some flowers in May, despite the widely cited stock market adage, “Sell in May and go away.” There is some merit to this old adage because the S&P 500’s best six-month returns have, on average, come from November through April, and its worst between May and October (recall bear markets often end in October). Still, historically the index has gained an average of 1.8% from May through October — hardly worth avoiding. (more…)
Tags: Current Events
Buying Supplemental Health Insurance: Medigap
May 3, 2024
Medicare won’t cover all of your health-care costs during retirement, so you may want to buy a supplemental medical insurance policy known as Medigap. Offered by private insurance companies, Medigap policies are designed to cover costs not paid by Original Medicare (Parts A and B), helping you fill the gaps in your Medicare coverage. You’ll pay the private insurance company a monthly premium in addition to the monthly Part B premium you pay to Medicare.
Tags: Estate Planning, Long-Term Care Planning, Medicare
Estate Planning Intro
May 1, 2024
Incapacity can strike anyone at any time. Estate Planning plans for it
By definition, estate planning is a process designed to help you manage and preserve your assets while you are alive, and to conserve and control their distribution after your death according to your goals and objectives. But what estate planning means to you specifically depends on who you are. (more…)
Market Update – The Patient Pause
Apr 26, 2024
It seems like we just can’t stop talking about the Federal Reserve (Fed). After an aggressive rate hiking campaign that we think ended last year, markets were expecting the Fed to start cutting interest rates as early as next month. But withan economy that continues to surprise to the upside, along with inflationary pressures that are still too hot, it seems it will still be a few months before we get any of those rate cuts.
Tags: Current Events, market up
Do I Need Critical Illness Insurance?
Apr 19, 2024
Ever hear of critical illness insurance? This isn’t standard-issue disability insurance, but a cousin of sorts. With people living longer, it is a risk management option entering more people’s lives. (more…)
Middle East Conflict: How Do Stocks React to Geopolitical Shocks?
Apr 17, 2024
Following Iran’s missile and drone strikes on Israel over the weekend and the apparent escalation likely in any Israeli response, stocks fell sharply during Monday’s trading session. We examine the latest developments in the Middle East conflict, how stocks have reacted historically to geopolitical events, and the possible impact on markets moving forward. (more…)
How US Savings Bonds Work
Apr 15, 2024
Did you buy U.S. Savings Bonds decades ago? Or did your parents or grandparents purchase them for you? If they’re collecting dust in a drawer, you may want to take a look at them to see if any of your bonds have matured. If your bonds have matured, that means they are no longer earning interest, and it also means you may want to consider cashing them in.1 (more…)
Tags: financial advisor charlotte nc, Investing, Personal Finance, Retirement Planning, Retirement Tax Savings
Market Update – Assessing the Prospect for a Pullback
Apr 12, 2024
In baseball, three strikes and you’re out. With inflation, a third straight month of hotter-than-expected consumer inflation data nearly ruled out probabilities for a June rate cut yesterday (now less than a 25% chance, according to fed funds futures). The core Consumer Price Index (CPI) rose 0.4% in March, or 3.8% when compared on a 12-month basis, topping respective estimates of 0.3% and 3.7%. Investors quickly dialed back rate-cut expectations on the news, pushing Treasury yields up by 0.15% to 0.20% and stocks down around 1%.
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Apr 4, 2025
April showers came a month early as stocks fell in March. Tariffs were the primary cause of the market jitters, although that uncertainty became too much for markets to shrug off once economic data started to weaken.
Apr 2, 2025
A successful investor maximizes gain and minimizes loss. Though there can be no guarantee that any investment strategy will be successful and all investing involves risk, including the possible loss of principal, here are six basic principles that may help you invest more successfully.
Mar 31, 2025
Losing a spouse is a stressful transition. And the added pressure of having to settle the estate and organize finances can be overwhelming. Fortunately, there are steps you can take to make dealing with these matters less difficult.
Mar 28, 2025
Families are one of the great joys in life, and part of the love you show to your family is making sure that their basic needs are met. While that’s only to be expected from birth through the high school years, many households are helping their adult children well into their twenties and beyond at … Continue reading “Retirement and Adult Children”
Mar 26, 2025
Life insurance can be an excellent tool for charitable giving. Not only does life insurance allow you to make a substantial gift to charity at relatively little cost to you, but you may also benefit from tax rules that apply to gifts of life insurance.
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