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
The guidance varies depending on the document. We’ll look at what to consider with bank statements, tax returns, and other common file types.
How much do you know about the tax implications of investing? This quiz tests your knowledge and gives you a chance to brush up on the basics.
When your financial life is complex, decreasing your tax liability requires a strategic plan. Here is where to start.
While there’s no magic formula for balancing a portfolio, there are some key factors to consider—from asset allocation to sector concentration.
Real Estate Investment Trusts offer a way to invest in real estate without having to actually manage property. Yet it’s wise to understand the taxation first.
ESG ratings evaluate how socially conscious a company is, serving as guideposts for selective investors. And their impact is only growing.
While more investment choices may be appealing, there are some issues to be aware of before taking this direction.
You’ve brought in a regular income and made wise investments throughout your life. Now you’re facing the transition from generating income to drawing down your savings.
Much like caring for a vehicle, financial planning is an ongoing process—not a once-and-done event.
Want to design a tax-efficient retirement? Learning how and when to take required minimum distributions (or RMDs) can be a key part of your overall strategy.
When Inheriting an IRA there are complex rules you will need to follow to avoid costly errors.
Roth IRAs are not subject to RMD rules.
Full of tricky timing concerns, the rules for IRA withdrawals are commonly misunderstood. Here, we explain five of them.
Taxpayers reaching age 72 should be aware that a portion of the funds in their retirement accounts starts to become taxable each year—and pitfalls are common.
However, this doesn’t mean that you should never sell during a market decline. Here are three scenarios when doing so may be a shrewd move.
Wondering whether to close out your home loan ahead of schedule? We’ll look at the benefits of doing this—and when it might be better to invest in bonds instead.
The Inflation Reduction Act extends premium tax credits through 2025—and expands who’s eligible.
This strategy of diversifying bonds can help smooth out the ups and downs of the market.
When the market is in decline, we take these proactive steps with our clients.
Less restrictive than budgeting, spending plans are a proactive and flexible way to anticipate cash needs in retirement.
Learn how a combination of outside income, investments, and retirement accounts can help cover regular expenses.
Withdrawing money early from a retirement account is meant to be a last resort—and can come with consequences. Make sure you know these penalties and exemptions first.
An adviser can help you balance today’s wants with tomorrow’s needs. Here’s what to consider when deciding whether to partner with one.
Protecting your portfolio from avoidable income tax is key to creating a sound income strategy for retirement.
Is that new pursuit a hobby or a business? Learn the difference and follow the corresponding tax rules to avoid penalties.
The best way to avoid investing bias is to learn how it commonly shows up—and to pursue an objective investment strategy.
It may be wise to plan for retirement without full Social Security, since projections indicate the future of the benefit is unpredictable.
Learn how diversifying your taxability (not just investments) is key to creating a sound retirement plan.
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.
The good news is that there are plenty of legitimate options to avoid the penalties and taxes.
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.
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.
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.
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.
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.
The 10-year period before you retire can matter more to your retirement success than any other.
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.
Use these tips and strategies about spending, saving, and asset allocation to reach your retirement goals.
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.
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.
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.
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.
The government encourages retirement savings by allowing taxpayers to make qualified contributions to retirement accounts on a tax-deferred basis.
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.
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.
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.
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…
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…
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…
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…
Last fall The Washington Post reported 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…
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…
The answer ultimately depends on how the management fees are being paid.
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…
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…