What You Need to Know About RMDs
Many clients have questions about when they need to withdraw money from their IRAs and what the rules are for Required Minimum Distributions (RMDs). Learn how to evaluate distribution options and avoid penalties that arise when RMDs are not met.
What is the Rodgers & Associates Financial Planning Process?
Our approach to retirement planning combines the seven-step process outlined by the Certified Financial Planner Board of Standards with our own unique focus on maximizing tax efficiency, managing risk, and minimizing expenses throughout retirement.
As You Approach Retirement, How You Save is Extremely Important
In planning for retirement, how you save is just as important as how much you save. Learn how you can save tax-efficiently by diversifying your assets across accounts that are taxed differently.
Use the Ten Years Prior to Retirement to Position Yourself for Success
The 10-year period before you retire can matter more to your retirement success than any other.
6 Ways to Help You Reach Your Retirement Goals
It’s never too early to start planning for retirement. By setting a strategy— and sticking to it—you can help achieve your goal of financial independence sooner.
Dos and Don’ts of Retirement Planning
Use these tips and strategies about spending, saving, and asset allocation to reach your retirement goals.
2 Ways to Help Children and Grandchildren Financially…Without Spoiling Them
We all start out life by working for money. The goal should be to put some of the money we work for aside regularly and invest it.
Is Your Adviser Worthy of Your Trust?
It’s not enough to connect with your financial adviser. Use these 10 questions to find a financial adviser you can trust with your finances.
Don’t Lose Track of Your Previous Employer Retirement Plans
When changing jobs, you may have choices to make about your retirement money. The choices will depend on your age and the type of plan you are in, as well as the rules of the plan.
Are Retirement Funds Exempt from Creditors, Including the IRS?
The government encourages retirement savings by allowing taxpayers to make qualified contributions to retirement accounts on a tax-deferred basis.
5 Keys to Financial Success, Revisited
Johnny Depp was the fifth highest-paid actor in 2016 earning $48 million. Unfortunately, almost all of Depp’s entire $8.7 billion fortune is now gone.
Thinking of Helping Out Your Adult Child(ren) Financially? You Might Not be Helping.
A recent study1 conducted for Northwestern Mutual found one in three Baby Boomers (33%), the generation closest to retirement age, have less than $25,000 in retirement savings.
How the Death of a Spouse Affects Taxes and Retirement Income
Many people mistakenly believe their expenses will be half as much as a widow(er) than as a couple. This is true of some expenses, like food and clothing. However, larger expenses related…
How To Avoid Being Double Taxed On Your After-Tax IRA Contributions
The primary goal of income tax planning is to pay the least amount of tax possible. Good tax planning should include avoiding paying tax on the same income twice. One…
When and Why You Should Convert an IRA to a Roth
The Tax Cuts and Jobs Act of 2017 (TCJA) eliminated the ability to use recharacterization to reverse the conversion of a Traditional IRA into a Roth IRA. The process of undoing a Roth…
How We Choose Funds for our Clients’ Investment Portfolios
The Dow Jones Industrial Average has just passed 23,000 as I am writing this newsletter. Clients typically ask if there are any good places to invest, and this topic comes up…
5 Ways to Close the Retirement Gap and Increase Savings
Last fall The Washington Post reported[1] that 71% of American’s aren’t saving enough for retirement. The article was based on a national survey commissioned by Experian in collaboration with Get Rich…
7 Steps To Follow When You Receive a Pension Buyout Offer
Nearly 200 companies have made significant changes to their pension plans over the past 10 years. Plan terminations, freezes and benefit formula adjustments are some of the changes companies are…
Failure to Take the RMD from Your IRA Can be Costly
A recent audit report found that in fiscal year 2014, IRS revenue officers collected $222 million less than they did in 2011 (7% less) and closed 34% fewer cases. The…
Teach Your Children Well – Or They Are Likely to Waste Their Inheritance
Studies estimate the baby boom generation is set to inherit $11.6 trillion over the next 20 years from their parents. The baby boomers are expected to pass on as much…
