What is the 4% Rule for Withdrawals in Retirement?
Jan 8, 2025
Saving for retirement is not easy, but using your retirement savings wisely can be just as challenging. How much of your savings can you withdraw each year? Withdraw too much and you run the risk of running out of money. Withdraw too little and you may miss out on a more comfortable retirement lifestyle.
Tags: Certified Financial Planner Charlotte NC, Investing, Personal Finance, Retirement Planning, Retirement Tax Savings, Wealth Building
Explaining the Basis of Inherited Real Estate
Dec 9, 2024
At some point in our lives, we may inherit a home or another form of real property. In such instances, we need to understand some of the jargon involving inherited real estate. What does “cost basis” mean? What is a “step-up?” What is the home sale tax exclusion, and what kind of tax break does it offer? (more…)
Tags: Estate Planning, Family Wealth, Tax Advantages, taxes, Wealth Building
Charitable Lead Trusts
Sep 25, 2024
Are you concerned about the inheritance taxes your heirs may have to pay? Then you may want to consider creating charitable lead trusts. (more…)
Tags: Estate Planning, Family Wealth, Financial Planning, Legacy, Wealth Building
Retirement Plans for Small Businesses
Jul 17, 2024
As a business owner, you should carefully consider the advantages of establishing an employer-sponsored retirement plan. Generally, you’re allowed certain tax benefits for establishing an employer-sponsored retirement plan, including a tax credit for establishing the plan and a deduction for contributions you make. In return, however, you’re required to include certain employees in the plan, and to give a portion of the contributions you make to those participating employees. Nevertheless, a retirement plan can provide you with a tax-advantaged method to save funds for your own retirement, while providing your employees with a powerful and appreciated benefit.Tags: financial advisor charlotte nc, Financial Planning, Personal Finance, retirement, tax guide, Wealth Building
How To Rollover Your 401(k)?
May 29, 2024
When leaving your job or retiring, you have several options available for managing your retirement plan assets. You may be able to leave the money in your current plan, if your employer allows. Or you can take a lump-sum cash distribution, which will be subject to income tax and a 10% penalty if you’re under age 59½ (unless an exception applies), resulting in a potentially significant tax bill. Finally, you can roll the money into another tax-deferred account, preserving the primary tax advantages. (more…)
Tags: Certified Financial Advisor Charlotte NC, Certified Financial Planner Charlotte NC, financial advisor charlotte nc, Financial Help, Financial Planning, retirement, Retirement Planning, Wealth Building
Managing Money as a Couple
Mar 20, 2024
When you marry or simply share a household with someone, your financial life changes—and your approach to managing your money may change as well. The good news is that it is usually not so difficult. (more…)
Tags: Certified Financial Planner Charlotte NC, Family Wealth, financial advisor charlotte nc, Investment Planning, Personal Finance, Retirement Planning, Tax Planning, Wealth Building
Do Our Emotion or Biases Affect Our Financial Choice
Feb 16, 2024
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
Wills: The Cornerstone of Your Estate Plan
Jan 8, 2024
If you care about what happens to your money, home, and other property after you die, you need to do some estate planning. There are many tools you can use to achieve your estate planning goals, but a will is probably the most vital. Even if you’re young or your estate is modest, you should always have a legally valid and up-to-date will. This is especially important if you have minor children because, in many states, your will is the only legal way you can name a guardian for them. Although a will doesn’t have to be drafted by an attorney to be valid, seeking an attorney’s help can ensure that your will accomplishes what you intend.
Tags: Certified Financial Advisor Charlotte NC, Certified Financial Planner Charlotte NC, Estate Planning, Retirement Planning, Retirement Tax Savings, tax guide, Wealth Building
Charitable Giving
Dec 4, 2023
When developing your estate plan, you can do well by doing good. Leaving money to charity rewards you in many ways. It gives you a sense of personal satisfaction, and it can save you money in estate taxes.Tags: Certified Financial Planner Charlotte NC, Estate Planning, financial advisor charlotte nc, Wealth Building
Building a Healthy Financial Foundation
Apr 17, 2023
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
More Insights
Jan 17, 2025
Outsized returns, record highs on nearly a weekly cadence, and low volatility were three major themes of price action in 2024. The S&P 500 posted a total of 57 record highs, marking the fifth-highest number of new highs in a calendar year since 1950. Furthermore, the CBOE Volatility Index (VIX) averaged only 15.5 on a … Continue reading “Market Update – The Correlation Comparison: Years That Resemble 2024”
Jan 15, 2025
Investment inaction is played out in many ways, often silently, invisibly, and with potential consequence to an individual’s future financial security, especially when it comes to retirement planning. Let’s review some of the forms this takes.
Jan 13, 2025
Will you pay higher taxes in retirement? Do you have a 401(k) or a traditional IRA? If so, you will receive income from both after age 73. However, if you have saved and invested much of your life, you may also end up retiring at a higher marginal tax rate than your current one. Tax … Continue reading “Tax Efficiency in Retirement”
Jan 10, 2025
Stocks had another very strong year in 2024. In fact, 2024 marked the first time the S&P 500 has enjoyed a +20% gain in back-to-back years since 1997–98. Last year didn’t start out so optimistically though. The list of worries among stock-market bears included high valuations, narrow leadership by the largest technology stocks, rising long-term … Continue reading “Market Update – Another Strong Year for Stocks”
Jan 8, 2025
Saving for retirement is not easy, but using your retirement savings wisely can be just as challenging. How much of your savings can you withdraw each year? Withdraw too much and you run the risk of running out of money. Withdraw too little and you may miss out on a more comfortable retirement lifestyle.
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