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Tag Archives: Rules

3 Tips To Avoid A “Save Taxes NOW!” Mentality

We scramble to do whatever we can to save on taxes. Unfortunately, there’s little firepower in the form of itemized deductions since the Tax Cuts and Jobs Act (TCJA) was initiated. The www.taxfoundation.org estimates that nearly 90% of taxpayers will continue to take the expanded standard deduction which has increased from $6,500 to $12,000 for single filers; $13,000 to $24,000 for those married filing jointly. If you recall, the income tax changes under TCJA expire at the end of 2025. CPAs,...

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5-Things Your Broker Wont Tell You – Part 4

Social Security is America’s pension. Without Social Security included as part of a retirement income plan, even disciplined savers may experience financial vulnerability in retirement. With the inclusion of Social Security or an inflation-adjusted income annuity that lasts a lifetime, a retiree may depend less on variable assets like stocks to create a predictable retirement income, especially during market cycles characterized by poor sequence of returns risk. Investors in distribution mode...

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5-Things Your Broker Will Ignore – Part 3

At our extensive Retirement Right Lane Classes which fill seats all over Houston, our planning group spend hours with a wide demographic of attendees who give up their Saturdays to tackle head on, the challenging topics that are crucial to financial survival in retirement. An important goal of the class is to rewire the years of bad advice consumers have been given from an industry which thrives on outdated theories. From “pre-tax investment vehicles are the greatest invention since...

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5-Things Your Broker Wont Tell You – Part 2

Valuations Matter. As I mentioned briefly in Part 1 of the series,  investors about to the enter the retirement distribution phase of their lives or seeking to extract money from a basket of variable assets like stocks and bonds to re-create a retirement paycheck, must be keenly aware of portfolio risk and prepare for a cycle of muted portfolio returns. Newbies to the retirement experience and those who aspire to retire within the next 3-5 years must seriously consider comprehensive financial...

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5-Things Your Broker Will Ignore – Part 1

Investors mistakenly believe their financial partners are students of holistic financial planning. Outside of sell-side biased market information pumped out daily by an employer’s research department, there are several areas of study that many brokers would prefer to avoid. Worse are the practitioners who confidently communicate erroneous Medicare and Social Security advice which results in consumers leaving thousands of lifetime income dollars on the table. Then, there are the brokers who...

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The Most Important Trait To Look For In A Financial Advisor

Daniel R. Solin, a New York Times best-selling author who penned a series of popular books with the overarching theme of how to be the ‘smartest,’ with money, recently wrote an article where he shared what he believes is The One Trait That Predicts Advisor Success. Mr. Solin makes a convincing case for curiosity as the dominating trait that separates a great advisor from a marginal one. I agree curiosity is critical to success not only to prosper in a chosen vocation, but for success...

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How “FaceApp” Can Help You Save More For Retirement

FaceApp is taking over social media. It also may help procrastinators focus on long-term goals, like retirement. The face recognition smartphone application is available for free download; a Pro version is available for a fee. The features available in the free version are enough to motivate you to immediately (possibly dramatically), increase your retirement account contribution percentages. So, what is FaceApp? FaceApp is artificial intelligence facial software which allows users to change...

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What You Need To Know About Medicare & The “BENES” Act

The Medicare Rights Center a national non-profit consumer advocacy organization, fields thousands of questions as it assists older adults to make sense of the complexity of Medicare. The Center publishes its Medicare Trends and Recommendations report each year; the work is a highlights compilation of the roughly 15,000 helpline questions and 3 million online queries fielded by staff and volunteers. Their Medicare interactive web pages garner millions of views per year. So, if you have...

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Teens & Summer Jobs: 3-Ways To Maximize The Experience

The labor market is tight. However, summer jobs for teens, especially in leisure and hospitality are in demand. While just 35% of teens aged 16-19 participated in the labor market last year, global outplacement and business and executive coaching firm Challenger, Gray & Christmas, Inc. predicts job opportunities could increase around 5% this year and the teen participation rate could rise as well, according to its 2019 annual outlook. How can you as a parent make the most out of your...

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SECURE Act: Big Changes & What It Means For Your Retirement

The House overwhelmingly passed a new bipartisan bill 417-3 called the SECURE ACT or Setting Every Community Up for Retirement Enhancement Act focusing on making big changes to the U.S. Retirement System. Here’s what you need to know about the bills proposals: One of the major talking points is raising the age RMD’s aka Required Minimum Distributions must be taken from Retirement accounts from 70 ½ to 72. This is a move in the right direction, but why stop at age 72 when the fastest growing...

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