Taxes are complicated and so is retirement. When you combine the two, it can get a bit overwhelming. The silver lining is that people who are retired, or are on their way to being retired, have some incredible opportunities to implement tax savings strategies that could benefit them for the rest of their lives. Here are five Tax-Smart Retirement strategies to consider.Read More
In 1954, renowned management consultant Peter Drucker wrote a book called The Practice of Management, in which he introduced a process known as management by objectives (MBO). MBO was a simple yet groundbreaking way for business managers to define and convey specific objectives to the organization’s team members, as well as to prioritize these objectives and achieve them on time.Read More
As a financial advisor, it’s easy for me to focus on helping people who I perceive to need it the most. These individuals tend to be close to retirement (1-3 years) or already in retirement. Most know them as the “Baby Boomer” generation (commonly born 1946-1964). At the same time, there’s a huge push in the media to discuss, and sometimes even criticize, the millennial generation (commonly born 1981-1996) for loving to spend $8 on avocado toast (crazy, right?!).Read More
Roth contributions are good, right?
A brand new client walked into a small financial planning office (we’ll call him Jim). Jim unpacked his account paperwork on the conference room table – a few brokerage accounts, a 401(k), a Roth IRA, that sort of stuff.Read More
What is Non-Qualified Deferred Compensation or NQDC?
Non-Qualified Deferred Compensation, or NQDC, is compensation that has been earned by an employee but has not yet been transferred from the employer to the employee. Because the employer still has ownership of the compensation, it is not included in the employee’s earned income and therefore is not considered taxable income. This allows an employee to postpone or defer compensation and receive it sometime in the future, usually for purposes of retirement income.Read More