Dear Mr. Market:
With regard to investing, sometimes no action is the proper action…but not always!
Now might be a very good time for a very specific act: converting assets from a traditional IRA to a Roth IRA. Here are a few reasons why: Continue reading
Dear Mr. Market:
“In this world nothing can be said to be certain, except death and taxes.” – Ben Franklin
“When it comes to divide an estate, the politest men quarrel.” – Ralph Waldo Emerson
As Mr. Franklin notes, none of us will live forever. And if you have ever been part of a contentious division of estate assets, you surely know Mr. Emerson’s quote to be true. You can’t avoid death, but with some careful planning on your retirement accounts, your heirs can avoid (needlessly large) taxes and the quarreling. The key is setting up beneficiaries, and setting them up correctly. Continue reading
Dear Mr. Market:
The stock market is closed until the day after Christmas so you can relax on that front but have you procrastinated on your final holiday shopping duties? Over a third of Americans are still out there today finishing up some last minute shopping!
If you’re looking for something unique but also truly impactful…give the gift of investing!
My Portfolio Guide, LLC is also getting into the spirit of giving by doing something no other advisor would consider…as a matter of fact most of our peers would likely laugh at this:
We are offering FREE accounts to any minor!
My Portfolio Guide already provides free 529 College Savings Plans to children and grandchildren of existing clients but during this holiday season we will open and professionally manage a custodial or Roth IRA for any child. Continue reading
Dear Mr. Market:
The wild ride continues! As we have addressed before, the nasty trifecta of oil, China and the Fed continue to hammer the markets. Moments like these can make or break portfolios and dramatically impact your future goals. Most investors have an IRA that they either have been funding or perhaps a rollover IRA from a previous 401(k) that sits on the sidelines and they periodically, if ever, look at. Volatile markets like this present an opportunity with these IRAs that could prove to be very advantageous!
“It’s almost like a half-off sale. If your IRA has dropped significantly in value, not only will the cost (of converting to a Roth IRA) be minimal, all the upside will be tax-free. Now is the time to strike!” – Ed Slott, The IRA Advisor
*** Before we dive into the specifics of converting an IRA it is important to note that we encourage you to consult your CPA or Tax Advisor to discuss in detail. We are not tax advisors and (unless you are a client) we do not know your specific financial or tax situation.***
The decision about converting an IRA to a Roth IRA comes down to three key factors: taxes, cost and time. Continue reading
Dear Mr. Market: 