January 7th, 2019

Why Now Could Be a Good Time for a Roth IRA Conversion

Roth IRAs are one of the best gifts that Congress has ever given Americans when it comes to saving money for retirement. Contributions grow tax deferred like with traditional IRAs, but withdrawals are usually tax-free if they’re made after you turn 59½ years old. Also, there are no Required Minimum Distributions (RMDs) with Roth IRAs … Continue reading “Why Now Could Be a Good Time for a Roth IRA Conversion”

January 7th, 2019

How Medigap Choices Are Changing

With Plan F and Plan C going away in 2020, Plan G may become the most common option. Soon, the most popular Medigap policy will no longer be available. Seniors will lose the chance to buy Plan F in 2020 as well as the less popular Plan C. These policies cover Medicare’s Part B deductible, … Continue reading “How Medigap Choices Are Changing”

January 4th, 2019

Target Date Funds

Hello. This is Clark Kendall with Kendall Capital Management in the Greater Washington, DC area. Today’s investment nugget is target date funds.   Target date funds determine your asset allocation based upon one factor and one factor alone, your age. Can you imagine the Class of 1975, walking across the graduation stage? They received their … Continue reading “Target Date Funds”

December 13th, 2018

Social Security Gets Its Biggest Increase Since 2012

Social Security will soon give seniors their largest “raise” since 2012. In view of inflation, the Social Security Administration has authorized a 2.8% increase for retirement benefits in 2019. This is especially welcome, as annual Social Security cost-of-living adjustments, or COLAs, have been irregular in recent years. There were no COLAs at all in 2010, … Continue reading “Social Security Gets Its Biggest Increase Since 2012”

November 14th, 2018

IRS Raises Retirement Plan Contribution Limits for IRAs, 401(k)s and More

The IRS has announced inflation-adjusted figures for retirement account savings for 2019, and there are a lot of changes that will help savers grow these accounts. Most notable, is that for the for the first time since 2013, the contribution limit for individual retirement accounts (IRA’s) has increased, from the current $5,500 to $6,000. The … Continue reading “IRS Raises Retirement Plan Contribution Limits for IRAs, 401(k)s and More”

November 6th, 2018

Open Enrollment: Pay Attention and Take Action

What is open enrollment and how does it effect you? We are now in open enrollment on the government (39 states) or state health insurance exchanges (11 states and the District of Columbia)—so this is the time of year when consumers can buy health insurance coverage under the Affordable Care Act (ACA). If you’re not … Continue reading “Open Enrollment: Pay Attention and Take Action”

May 24th, 2018

Retirement Planning Tips for Women

For our parents, living to 75 amounted to a nice, long life, and Social Security was often supplemented by a pension. The Social Security Administration estimates that today’s average 65-year-old female will live to age 86.6. Given these projections, it appears that a retirement of 20 years or longer might be in your future. Are … Continue reading “Retirement Planning Tips for Women”

May 10th, 2018

The Many Benefits of a Roth IRA

The Roth IRA changed the retirement savings landscape when it was established in the Taxpayer Relief Act of 1997 becoming a fixture in many retirement income strategies. This analysis offers a closer look at the trade-off you make when you contribute to a Roth IRA versus other types of investment accounts. When compared to a … Continue reading “The Many Benefits of a Roth IRA”

March 21st, 2018

Tax Efficient Retirement Planning

Will you pay higher taxes in retirement? Do you have a lot of money in a 401(k) or a traditional IRA? If so, you may receive significant retirement income. Those income distributions, however, will be taxed at ordinary income tax rates.  If you have saved and invested well, you may end up retiring at your … Continue reading “Tax Efficient Retirement Planning”

March 13th, 2018

Attention Retiring Federal Employees – It’s Time to Retire Your Thrift Savings Plan

Being a fiduciary wealth manager means two things in practice. First, I’m obligated to serve my clients’ best financial interests. Second, I give big-picture advice. This could be a recommended action (where to invest, for example), or a simple word of caution: Don’t. I recently offered that word of caution to a federal employee who’s … Continue reading “Attention Retiring Federal Employees – It’s Time to Retire Your Thrift Savings Plan”