Ever wondered about the mysterious backdoor Roth conversion? While seemingly complex, this retirement savings strategy can be quite useful if you fall into a specific bucket of savers. Let’s demystify the process. How does a backdoor Roth conversion work? The backdoor Roth conversion allows high earning individuals the opportunity to contribute to a Roth IRA, Read More
There are plenty of moving pieces to a person’s financial picture, which makes saving for future goals an ever-evolving task. Remember that consistent saving is key to making any financial dream a reality. Earmarking funds for specific savings buckets is a great way to stay motivated. Two goals fall into the must-save-for-first category: retirement and Read More
Today’s inflationary economy is putting the spotlight on an all-too-common issue: families often live at the very edge of their financial means. One unexpected expense can be all it takes to tip the household budget scales. As we have all learned over the past few years, there will always be external factors that impact our Read More
In Part 2 of this blog series, let’s cover those regular estate planning to-do’s. By “regular”, we’re talking about those items that need to be reviewed, updated, and checked on from time to time. An annual check-in is ideal. Add it to your New Year resolutions list perhaps. Once you have your estate plan groundwork Read More
You’re busy trying to soak up all that life has to offer. You want to spend quality time with your family and friends. You want to travel the world. The last thing you probably want to be thinking about is what’s going to happen once you’re gone. Understand that making tough estate planning decisions now Read More
It may be difficult to imagine your parents needing to lean on you for help as they get older. They have always been the ones to give you a hand and keep you moving in the right direction in life. But one day, the roles will likely be reversed. If you will be the primary Read More
Do you know that feeling when you finally clean out a closet, toss basement-dwelling boxes, or organize a messy attic? Phew! It’s done. Ridding yourself of clutter is time consuming, sometimes stressful, and often just a pain in general. But in the end, it’s almost always well worth the effort. Decluttering your financial life Read More
Ah, homeownership. There’s so much to think about. First, a few things to keep in mind: This isn’t an anti-homeownership post. In fact, buying a house can be an excellent financial goal to accomplish. It can also be one of the biggest financial mistakes out there. Knowing what you’re really getting into is the best Read More
It’s been a long time coming. The federal government has made substantial changes to the rules governing retirement account withdrawals, known as RMDs. As Americans are generally living longer and nest eggs are relied upon for additional years, an overhaul was certainly warranted. The recent rules shift has the potential to offer more income planning Read More
People dream of retirement for decades, diligently saving to grow their nest egg. Unfortunately, when the time comes to start drawing off those funds, worry often ensues. The “what if I run out of money” anxiety is all too common. For your entire career, money steadily flowed into your savings pile. You likely had a Read More
