Yep, your investments are down and so are your spirits. Those looking for a silver lining may be talking about tax loss harvesting. What does that even mean? Warning, if your money is all in retirement accounts (IRAs, Roth IRAs, 401(k)s, 403(b)s, this concept doesn’t apply. Tax loss harvesting is only for accounts where capital…
The IRS has done it again. Taken an already unfortunate new rule about inheriting IRAs and made it even worse. To recap, if you inherited IRA/Roth IRA/Workplace Retirement Account money from someone who died in 2020 or after, the SECURE Act states that you must take that money out of the account within 10…
To find it? Recently I read an article about the U.S. Will Registry. It’s a free website where you can upload either the will/trust documents themselves or just say where you have your estate plan stashed. And who is allowed to see it. This seems like a great idea just in case: Your will…
Pumpkins, pumpkin spice, pumpkin decorations…it’s October and pumpkins are pervasive. There is even a business book about pumpkins by Mike Michalowicz called The Pumpkin Plan. Since many of my readers are business owners or operate as such within a larger company, here are three quick ideas from this very popular book. To grow…
What is the Inflation Reduction Act of 2022? Is it just a lesson on being more careful when naming laws? Is it an inflation law, a climate law, or an insurance law? As with all laws, it’s complicated so here are three things you may find helpful in the new regulations. Drug costs for…
Ugh, September is one of those months with FIVE Thursdays. That’s a lot of blogs to write so I’m taking a breather this week and re-running a Blog from July 2022 about risk tolerance and stock market drops. The financial services industry has for years been collectively handwringing about how to measure clients’ real…
You may have heard of Bill Bengen’s 4% rule for retirement withdrawal. Through back testing and calculating and thinking really hard, Mr. Bengen concluded that a retiree could start taking 4% out of investments and have his/her nest egg last through a 25-year retirement. This assumes the retiree will need to increase withdrawals over time…
Calling all grumpy Boomers and Gen X-ers: Say what you want about Millennials, Gen Z, The Youth of Today, but in my experience, young adults have a lot of financial savvy. One thing I help 20-and-30-somethings with often is whether to sell that first house/condo they bought or keep it as a rental. At…
It’s possible you are NOT looking for more content to clog up your inbox. Just in case you’d like some quality reads, here are three that I like: 3-2-1 from James Clear, author of Atomic Habits. Which I still haven’t read but love the simple yet profound quotes that come every Thursday. Here is…
In a previous blog I mentioned attending the Investment News Women’s Advisor Summit. Here is another tidbit I learned. You can add a Designated Trusted Contact to your accounts and with your investment advisor. This isn’t the same level of legal ability or rigmarole as a Power of Attorney. No, it’s just a person…
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