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 →
How time flies! Our first letter to you was on March 20, 2013. This marks our 100th article. Over the last two years we have covered a variety of topics and events that our clients and readers have been confronted with. Over 15,000 individuals have visited the website and our top rated articles have been viewed over 12,500 times!
As we look through the library of topics we have assembled, there are several articles that stand out for various reasons. It’s challenging to pick favorites so we’ve decided to share the most popular “letters” we’ve written: Click here to read more…
If you ask any hard working American what their goal is the answer will usually have some something to do with retirement. While this common goal should be attainable through focus and discipline the market has certainly thrown its fair share of setbacks at investors. For most Americans their home is their largest asset and second is their retirement plan (401(k), 403(b), Simple IRA, SEP IRA, etc). You have a limited amount of control on the value of your home but how can you manage and monitor your retirement plan to help make your retirement goals a reality? In this article we will take a step back to the basics and look at factors that will have a profound impact on the performance of your retirement accounts and what you can do to control them.
Last fall legislation was passed requiring 401(k) providers to completely disclose their entire fee structure to participants. Investors will now be able to see what fees are associated with the various funds in the plan and what they are paying to participate in their employers retirement plan. According to CNN Money, a working couple will see nearly a third of their investment reduced by these fees over their careers– that amounts to nearly $155,000!! Schwab reported that nearly 30% of investors had absolutely no idea that they paid any fees for their retirement plan. Continue reading →