Eight Retirement Mistakes to Avoid
Jan 18, 2021
Pursuing your retirement dreams is challenging enough without making some common, and very avoidable, mistakes. Here are eight big mistakes to steer clear of, if possible.
No Strategy.
Yes, the biggest mistake is having no strategy at all. Without a strategy, you may have no goals, leaving you no way of knowing how you’ll get there – and if you’ve even arrived. Creating a strategy may increase your potential for success, both before and after retirement. (more…)
Tags: Certified Financial Planner Charlotte NC, financial advisor charlotte nc, Financial Planner Charlotte NC, retirement, Retirement Planning, Retirement Tax Savings, Wealth Building
IRA Contribution Deadlines are Approaching
Jan 4, 2021
Financially, many of us associate April with taxes – but we should also associate April with important IRA deadlines. From current and previous IRA contribution deadlines, to RMD deadlines, keep an eye on the calendar.
April 15, 2021 is the deadline to take your Required Minimum Distribution (RMD) from certain individual retirement accounts.
Keep in mind that withdrawals from traditional, SIMPLE, and SEP-IRAs are taxed as ordinary income, and if taken before age 59½, may be subject to a 10% federal income tax penalty. (more…)
Tags: financial advisor charlotte nc, Financial Planning, Investing, Investment Portfolio, Personal Finance, retirement, Retirement Planning, Retirement Tax Savings
Building a Healthy Financial Foundation
Dec 11, 2020
When you read about money matters, you will sometimes see the phrase, “getting your financial house in order.” What exactly does that mean? When your financial “house is in order,” it means it is built on a solid foundation. It means that you have six fundamental “pillars” in place that are either crucial for sustaining your financial well-being or creating wealth. (more…)
Tags: financial advisor charlotte nc, Financial Planning, Personal Finance, retirement, Retirement Planning, Retirement Tax Savings, Tax Planning, Wealth Building
Do Our Emotion or Biases Affect Our Financial Choice
Dec 7, 2020
Investors are routinely warned about allowing emotion to influence their decisions. However, they are less routinely cautioned about their preconceptions and biases that may color their financial choices.
In a battle between the facts & biases, our biases may win. If we acknowledge this tendency, we may be able to avoid some unexamined choices when it comes to personal finance. It may actually “pay” to recognize blind spots and biases with investing. Here are some common examples of bias creeping into our financial lives. (more…)
Tags: Family Wealth, Personal Finance, retirement, Wealth Building
Cash Balance Plans
Dec 4, 2020
In corporate America, pension plans may be fading away. Only 14% of Fortune 500 companies offered them to full-time employees in 2019. In contrast, legal, medical, accounting, and engineering firms are keeping the spirit of the traditional pension plan alive by adopting cash balance plans.1 (more…)
Tags: Employee Benefit Planning, Financial Planning, retirement, Retirement Planning, Retirement Tax Savings, tax guide, Wealth Building
Do Main Street Self-Employed Individuals Need a Wall Street Strategy?
Dec 2, 2020
As Wall Street pushes higher, a pandemic-weary Main Street is relearning how to manage cash flow with the hope of keeping its retirement dreams alive – and for those self-employed, this is paramount.
Self-employed Americans, and the people working for them, account for roughly 30 percent of the nation’s workforce.1
In the best of times, putting aside money for retirement was a challenge for this group. (more…)
Tags: Certified Financial Planner Charlotte NC, financial advisor charlotte nc, Financial Planning, Investing, Personal Finance, retirement, Retirement Planning, Retirement Tax Savings, Tax Advantages, Tax Planning
2020 Election Aftermath
Nov 4, 2020
The American people have voted, casting a record number of ballots under extraordinary circumstances, which is a testament to the enduring resilience of our democracy. Determining the outcome of our elections is a process, but it usually moves so quickly it barely gets noticed. This year it will take longer, but the process itself hasn’t changed. For many, this uncertainty on top of an already heated election season has created additional anxiety and frustration. (more…)
Tags: Certified Financial Planner Charlotte NC, charlotte NC, Current Events, financial advisor charlotte nc, Financial Help, Personal Finance, retirement
2021 IRA Limits, 401(k)s and More
Nov 2, 2020
On October 26, the Treasury Department released the 2021 adjusted figures for retirement account savings (IRA, Roth IRA, and 401(k)s). Although these adjustments won’t bring any major changes, there are some minor elements to note. (more…)
Tags: Certified Financial Planner Charlotte NC, financial advisor charlotte nc, Financial Planner Charlotte NC, Personal Finance, retirement, Retirement Planning, Tax Planning
Women Facing and Conquering Retirement Challenges
Sep 23, 2020
When it comes to retirement, some women face obstacles that can make saving for retirement a challenge. Women typically earn less than their male counterparts and often take time out of the workforce to care for children or other family members. Added to the fact that women typically live longer than men, retirement money for women may need to stretch even further.1 (more…)
Tags: Personal Finance, retirement, Retirement Planning
Why A Roth IRA Conversion May Now Be Advantageous
Sep 18, 2020
Roth IRA Conversion decisions have attracted retirement savers since their introduction in 1998. They offer the potential for tax-free retirement income, provided Internal Revenue Service rules are followed. (more…)
Tags: charlotte NC, Investing, Personal Finance, retirement, Retirement Planning, Tax Advantages, Tax Deductions, Tax Planning
More Insights
Jan 22, 2021
What is a 1099 form? This is a record of payment from an individual or entity, showing a payment, generated for your records. The individual/entity sends a copy to both the payee as well as the I.R.S.1 Who might be sending 1099s? Clients send their contractors 1099s, recording work performed. Banks send 1099s to reflect … Continue reading “1099 Form Help”
Jan 20, 2021
When you think about your estate, you may think about your personal property, real estate, or investments. You also have other, less-tangible assets – and they deserve your attention as well. We consider these your digital assets. A digital footprint of your life – and you need to consider them within your estate planning.
Jan 18, 2021
Pursuing your retirement dreams is challenging enough without making some common, and very avoidable, mistakes. Here are eight big mistakes to steer clear of, if possible. No Strategy. Yes, the biggest mistake is having no strategy at all. Without a strategy, you may have no goals, leaving you no way of knowing how you’ll get … Continue reading “Eight Retirement Mistakes to Avoid”
Jan 15, 2021
When you lose a spouse, partner, or parent, the grief can be overwhelming. In the midst of that grief, life goes on. There are arrangements to be made, things to be taken care of – and in recognition of this reality, here is a checklist that you may find useful at such a time. If … Continue reading “Estate Planning Checklist for When a Spouse or Parent Passes”
Jan 11, 2021
The first week of 2021 has already had many ups and downs. Just because it’s a new year doesn’t mean that the 2020 issues go away, and so far, 2021 has been no exception to this rule. The markets opened on January 4 and traded lower out of the gate, with the S&P 500 dropping … Continue reading “2021 Opens With a Bang”
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