That’s the question investors are asking. Let me explain in our Summer Market Update. After cruising for the past five months, the markets screeched to a halt on September 3rd. The Dow dropped over 800 points, and the Nasdaq plunged nearly 5%.1 All told, it was one of the worst trading days for stocks since…
DetailsPerhaps this question has crossed your mind more than once as you consider your financial future. There are many issues surrounding this question and one of the first steps to finding the answer is to evaluate where you are today. Take a snapshot of where you are currently and paint a picture of where you…
DetailsThe Best IRS Tax Gift If you’re not at least 70½, you can skip this article. Forward the link to someone that is. They will appreciate your thoughtfulness. If you are at least 70½, this is for YOU. A Qualified Charitable Distribution may be THE best tax gift that the IRS has given you. At…
DetailsBelow, I explain how you may be able to take money from your IRA and other retirement accounts, avoid early withdrawal penalties, and have generous options on repayment (or not). I also explain when you don’t have to take the required minimum distribution from your IRA. COVID-19-Related Distributions from IRAs Get Tax-Favored Treatment If you…
DetailsFrom many conversations I’m hearing stories of lives changing. Fortunately, most of our clients have not been severely affected. Sadly, a few have experienced tragic changes. COVID-19 has reduced continued work as an option for many retirees. Many older workers are now facing lower Social Security benefits for a variety of reasons. Retirement accounts…
DetailsHistory in the Making – Coronavirus and Circuit Breakers Last week I was in Atlanta for a 3-day conference. I flew out of Colorado Springs and noticed three or four facemasks on the plane. There was not an empty seat on the plane. In the Atlanta airport, there were a few more masks but it…
DetailsThe Wall Street Journal has done a very thorough job of estimating taxes under each of the Democratic candidates for president. The takeaway is clearly that there’s a possibility that the Democrats may once again control the presidency and one or both houses of congress. When that happens the current plans on the table (representative…
DetailsIt’s a leap year! That means we have twenty-nine days to enjoy in February instead of the usual twenty-eight. But the question is, what should we do with the extra day? Most people will probably treat the 29th like any other day. But as a financial advisor, I have a suggestion. Why not use the…
DetailsYour retirement plans and accounts may remain under threat as our government requires more and more revenue. I am just going to list a few of the threats. I suggest you read the article so you can learn the details, why changes are being considered, and what the implications will be. We have developed strategies…
DetailsMore Than Half of Americans Have Avoided Medical Care Due to Cost Healthcare planning is increasing as a concern for overall financial planning for ALL Americans, not just those over age 65. Many Americans are even avoiding getting treatment because there’s uncertainty over their out of pocket healthcare costs. I’ve seen this more than once…
Details#2ndHalfWealth 1-774433 03/21/2020
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Don’t Assume This Will Be Easy – Start Now A new study by Bankers Life for a Secure Retirement, A Growing Urgency, Retirement Care Realities for Middle-Income Boomers, has found what I pretty much knew to be true: Baby Boomers are not prepared for the possibility of needing chronic care in retirement. Even though two-thirds…
DetailsMake Your Money Work For You Have you ever played the game Monopoly? If so, you’re probably familiar with the image of “Rich Uncle Pennybags,” the game’s unofficial mascot. Sporting a bushy white mustache, a black top hat, and a cane, Mr. Monopoly (as he is sometimes known) has become a cliché. Created as a…
DetailsWatch For The Income Tax Torpedo The possibly lurking Social Security tax torpedo is a situation where an extra dollar of income not only gets taxed at your highest marginal tax rate, it also may cause previously untaxed Social Security benefits to be taxed. So instead of adding $1 to taxable income, you must add…
DetailsMarch Madness and Investing Although I don’t watch much basketball during the season, I enjoy the playoffs and championships. It’s always a pleasure to see great competition. I was reading about the bracket process and was struck with how similar it is to the investment process we use. Seeding Madness, specifically “March Madness,” has begun.…
DetailsMany of you are concerned that Social Security won’t remain a viable option in the future. Here’s the latest update. Although the journalists won’t be writing about the 2018 Social Security (OASDI) trust fund results until the annual trustees’ report comes out in the spring, we have them for you now. The Social Security Administration…
Details#2ndHalfWealth 1-796590 05/31/2020
by W. E. Petersen During the waning years of the Depression in a small southeastern Idaho community, I used to stop by Mr. Miller’s roadside stand for farm-fresh produce, as the season made it available. Food and money were still extremely scarce, and barter was used extensively. On one particular day, as Mr. Miller was bagging…
DetailsSometimes people ask me what to watch out for when it comes to investing their money. I think they usually expect me to tell them about a specific stock to avoid, or something like that. But my answer is far different. You see, one of the biggest things to watch out for is actually the…
DetailsHalloween may have been yesterday, but there’s something much more incredible that happened 15 years ago, October 31st… October 31, 2003, an aspiring professional surfer named Bethany Hamilton went onto the ocean near her home in Hawaii. As she had done many times before, she lay down on her board and trailed her left arm…
DetailsI present you with two quotes: “Democracy is the form of government in which the free are rulers.” – Aristotle “I tell you, all politics is applesauce.” – Will Rogers Whichever quote best describes your attitude about the upcoming election, the fact remains that on November 6, we have an opportunity to perform our civic…
DetailsIt’s October, which means autumn is upon us. But this year, it’s not just the leaves that are falling. The markets have been falling, too. On Wednesday, October 10, the Dow slid more than 800 points. The S&P 500 fell for the fifth straight day. And the tech-heavy NASDAQ was hit hardest of all, dropping…
Details“Leave no stone unturned.” – Euripedes The Ancient Greek playwright, Euripedes, once told a tale about two opposing generals. The first general, who was rich, decided to bury his treasure before a great battle. Unfortunately for him, the second general was victorious and decided to take the treasure for himself. Unable to find it, he…
DetailsIf you are younger than 65, you probably wonder what all the fuss is about as you’re bombarded with television ads for Medicare Advantage and prescription drug plans this time of year. If you’re over 65 you already know the Medicare open enrollment season begins October 15th and runs through December 7th. Each year, insurance…
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