Blog posts from Rodgers & Associates on working with financial advisers, including how to find one, the different types, what “fee-only” advisers do differently, what to expect, and how to get the most from the relationship
How the New Three-Legged Stool™ Strategy Helps Reduce Taxes in Retirement
Learn how diversifying your taxability (not just investments) is key to creating a sound retirement plan.
Other Ways to Utilize Savings in a 529 Plan Without a Penalty
The good news is that there are plenty of legitimate options to avoid the penalties and taxes.
Why is Time-Weighted Return a Good Way to Track Performance in Retirement?
Learn why we use time-weighted return as a reporting metric and see how it gives you an accurate picture of portfolio changes over time.
Do You Have an Accurate Vision of Retirement? If You Don’t Know Where You Are Going, It’s Going to Be Hard to Get There.
Retirement is not a date on a calendar; it is a journey that begins before our working career ends.
How to Legally Transfer After-Tax Money into a Tax-Free Roth IRA
Understand your path for rolling after-tax money in employer-sponsored plans to a Roth IRA and the rules that need to be considered to complete this transaction properly.
How “Gray Divorce” Can Affect Your Financial Future
Divorce rates are on the rise for those over the age of 55. Learn about the financial implications of this significant life event and get guidance on how to navigate the many considerations individuals face.
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.
Phase 1 of the AGILE Retirement Journey
Did you know a critical phase of retirement begins 10 years out? We’ll go over what you need to do in phase one on this edition of Project Wealth.
AGILE Overview
Retirement is a journey to be enjoyed over time, not a destination. Chris Hershey will help you plan for your unique journey on this edition of Project Wealth.
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.
5 Ways to Save for Retirement…before it’s too late
Are you saving enough for retirement? Read about target savings rates and see our strategies for closing the retirement savings gap so you can achieve financial independence.
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.
What Part Will Social Security Play in Your Retirement?
Retirees drawing Social Security benefits received a 2.8 percent cost of living adjustment (COLA) in 2019. This is the largest COLA increase since 2011.
What You Need to Know About Retirement Contribution Limits
Saving more tax-free dollars for retirement got easier in 2019 after a six-year wait! The inflation-adjusted maximum annual contribution for a Roth IRA finally increased to $6,000.
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.
Converting an IRA to a Roth IRA? Know the Pro-Rata Rule
Funding the tax-free side of the New Three-Legged Stool for retirement can be more difficult for taxpayers with higher incomes. In 2018, joint filers can only make a partial Roth IRA…
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…
Every Walt Needs a Roy – Disney that Is
Walt Disney’s success was in large part due to his brother, Roy. Here’s what Roy and Walt teach us about the client-financial planner relationship.
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…
How You’re Saving For Retirement Is More Important Than Ever – Here’s Why.
The IRS Statistics of Income (SOI) program recently released data on taxpayers who hold IRAs for the tax year of 2013. The SOI program was mandated by the Revenue Act…
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…
Are Investment Management Fees Tax Deductible? It Depends.
The answer ultimately depends on how the management fees are being paid.
What It Means When Your Account Is “Insured”
Deposit insurance depends a lot on what kind of account you have and what is actually held inside the account. You should understand how accounts are insured before you make a deposit.…
Qualified Charitable Distributions Now Permanent
President Obama signed into law the Protecting Americans from Tax Hikes (PATH) Act of 2015 on December 18th. The new law extended over 50 expired provisions of the tax code.…
Maximize Health Savings Account Tax Benefits
The IRS announced the inflation-adjusted deduction limitations for annual contributions to health savings accounts (HSA) beginning in 2016 through Revenue Procedure 2015–30. HSA deduction limits are updated annually to reflect…
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…
How to Manage Risk in Your Retirement
More frequently asked retirement questions.
Tips for Reviewing Your Life Insurance Needs
The beginning of a new year is the time we all look for a fresh start. That’s why we make resolutions in hope our fresh start will carry through all year long.…
More Common Retirement Questions
This week’s newsletter is a continuation of a series on planning for retirement that I started early in the summer. There is a lot of information available about retirement planning but most people find…
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…
Hardship Withdrawals – What are the Real Costs?
The victims of Hurricane Sandy may have thought they were receiving help from an unusual source – the IRS. Last year the IRS Announcement 2012–44 granted relief in the form…
9 Ways to Beat the Medicare Surtax — Part 3
This week we conclude our series on minimizing the new 2013 taxes on upper income taxpayers (see Part 1 and Part 2). Not only did the new year bring new…
9 Ways to Beat the Medicare Surtax — Part 1
The year 2013 brings some new taxes for upper income taxpayers as well as a return of the higher tax rates from 2001. The American Taxpayer Relief Act of 2012 (ATRA12)…
Preserving Your Income Stream Through Retirement – Part Two
See Part 1 and Part 3 in this series. Last week we began a discussion on how to build a retirement income strategy that would provide an increasing stream of income over…
When Is Your Beneficiary Not Your Beneficiary?
A man enrolled in his company’s 401(k) plan and named his wife as the sole beneficiary of his account. Years later, his wife died and the worker updated his account to…
Consolidating Employer Retirement Accounts
The average American will hold 11 jobs between the ages of 18 and 62, according to the Bureau of Labor Statistics (2010). When you start a new job, you probably remember…
