Blog Topics

The FIRE Movement – Or choices?

By Shea Newton | October 18, 2021

Let’s start with what FIRE stands for—Financial Independence, Retire Early. Isn’t this what everyone wants? I have a theory about how this movement started. There has been a lot of research in the financial planning space and trying to figure out how much you need in investment assets and how much you can take out over the course of your retirement (safe withdrawal rate) without running out of money.

How to Choose a Self-Employed Retirement Plan

By Shea Newton | October 11, 2021

The first step to deciding which retirement plan to choose for your self-employment income is figuring out the amount that you think you will be able to contribute. From that point, then you can choose which vehicle may work best for you.

What is Tax Planning?

By Shea Newton | October 4, 2021

Tax planning is considering your whole situation and making any necessary changes or decisions before the tax year is complete. Think of it as forward looking. When you prepare your tax return, you are looking backwards at things that have already happened and figuring out any credits or deductions that you can take based on things you cannot change.

What Happens if you Die without a Will?

By Shea Newton | September 27, 2021

Many of our clients don’t know what probate is, and that isn’t necessarily a bad thing. If you’ve never had a loved one die, you may never have experienced it. Probate is the legal process by which a will is validated. If there’s no will, it’s the legal process of settling a person’s affairs. In other words, if you didn’t write your own will, the state has one for you.

Estate Plans: Not Just for the Wealthy

By Shea Newton | September 20, 2021

There are several misconceptions about estate planning. For instance, many people think you need to be ultra-wealthy to create one, or that they are only relevant to parents with young kids and senior citizens.

Financial Plan vs. Estate Plan-What’s the Difference?

By Shea Newton | September 13, 2021

A Financial Plan is a look at your current financial health and a map to help you reach your goals. It looks at income, expenses, assets, and debt. If you keep all four of these in balance, you should have enough money to invest in a way that matches your risk tolerance. A well-designed plan puts you on track to reach your goals.

IRA Beneficiary Designations

By Shea Newton | August 30, 2021

As you may know, the Secure Act put an end to the Stretch IRA. The stretch IRA is the ability to stretch the IRA distributions over the beneficiaries’ lifetime. Let us look at the new rules to see how this may impact your current situation.

What Happens To Your Accounts At Death?

By Shea Newton | August 23, 2021

Typically, all retirement accounts have named beneficiaries and do not go through your will. That being said, you do have to name the beneficiaries. If you do not have named beneficiaries, then most likely, the account will pass by your will. If you do not have a will—then the state you live in dictates what happens.

Leaving your 401k After Separation From Employment

By Shea Newton | August 16, 2021

There are pros and cons to leaving your 401k plan with your previous employer that should be evaluated before any moves are made. This is not an exhaustive list, just some main points to get you thinking about things that are involved.

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