Financial Get On With Being an Adult Tips

The Denver Post recently reprinted a list from Kiplinger Washington Editors called “9 financial get-on-with-being-an-adult tips for your 30s.”  The list included: Advance your career Rethink your budget Write Your will Pay off non-mortgage debt Save at least 15% of your income for retirement Adjust your insurance coverage Increase your emergency fund Diversify and rebalance…

Investment Advice Fees are Tax Deductible

This article reminded me of another reason it’s better to pay for financial advice separately from high cost investments.  Front-end loads, 12b-1 fees, and annual expense ratios are not tax deductible.  Financial advice such as tax-preparation fees, investment advisory annual fees, and the cost of creating a financial plan are tax-deductible. Client Education More Important…

Retirement Income Strategy – What’s the Best Order to Withdraw Assets? Method #3

This last method of spending down different accounts is probably the most popular.  Method #3 I’ll call the Pro-Rata System.  Simply put, you take a proportionate percentage out of each type of account every year. For example, say you have 50% of assets in tax-deferred accounts, 25% in taxable accounts, and 25% in Roth accounts,…