By Marc C. Shaffer Do you have Lazy Cash? Cash just sitting around in a general checking account or other location (mason jar, eek!) whittling away due to inflation and not WORKING for you? In the years leading up to the pandemic, cash planning wasn’t a frequent topic...
By Marc C. Shaffer When we talk about financial planning, we often focus on investments, retirement accounts, and long-term goals. But an essential part of that future includes planning for long-term care, both for ourselves and for the people we love most. "Age is...
By John C. Fales For families of affluence, transferring wealth to the next generation is about much more than numbers and legal documents. It’s about values, legacy, and responsibility. Without thoughtful preparation, wealth can do more harm than good, leading to...
In certain cases, you may be eligible to make a Mega Backdoor Roth contribution. This strategy involves using an employer-sponsored 401(k) plan that allows after-tax contributions and then converting those contributions to a Roth IRA or Roth 401(k). Under the right...
Have you heard of the Backdoor Roth Contribution? If you earn too much, per the limits and rules of IRAs, you are unable to make a direct contribution to a Roth IRA. The Backdoor Roth Contribution could be a solution, but there are many factors and rules to consider,...
There are a lot of important considerations to weigh before doing a Roth conversion. As a result of the current market condition and changes due to the SECURE Act, Roth conversions are becoming an important strategy for many. This flowchart covers: Changes in...
By Marc C. Shaffer As financial advisors, one of the most common concerns we hear from clients is about the future of Social Security. Many ask how confident we are that their benefits will be available when it's their turn to file a claim. Some are so worried about...
Social Security beneficiaries will see a 2.5% increase in their benefit payments in 2025, according to the Social Security Administration. The annual cost of living (COLA) adjustment will affect more than 72.5 million Social Security and Supplemental Security Income...
As financial planners, one tool we discuss with parents is opening a custodial Roth IRA for their minor children. This strategy could provide significant long-term benefits and teach valuable lessons about saving and investing. Let's explore why this might be a smart...
If you own employer-issued stock in a 401(k) plan, you may benefit from favorable tax treatment under the NUA rules. But, to qualify for an NUA distribution, you must satisfy several very important rules, some of which are often misunderstood. To help make this...