529 College Savings Conversion to Roth IRA
Transferring wealth to children will become a touch easier in 2024. Buried in the estimated 4000-page Consolidated Appropriation Act of 2023 that passed at the end of 2022, was the…
Be Prepared to Take Beneficiary IRA Distributions in 2023
In 2019, The SECURE Act changed the rules concerning the distributions from pre-tax Individual Retirement Accounts (IRAs) inherited through beneficiary designation (a so-called “Beneficiary IRA”). As with many such changes…
Per Stirpes or Pro Rata? You probably want Per Stirpes
Periodically checking and updating beneficiary designations on retirement accounts and life insurance is prudent. The next time you navigate the online portal or the old school paper form to write…
Loans Against Investment Accounts
Though most Americans have at least a passing understanding of the ability to use the equity in a house to obtain a low-interest loan though a Home Equity Line of…
Remove Beneficiary Designations on Non-Retirement Accounts
Non-retirement investment accounts are often set up with wealth management firms. When the account is set up, there is an option to put a beneficiary designation on the account and…
Reasons to Reconsider the Roth IRA
In the old days, the decision to fund a retirement account with pre-tax dollars (Traditional IRA) or fund it with after-tax dollars (Roth IRA) often hinged on when a person…
Give the Gift of Appreciated Stock
With the holiday season upon us and tidings of good cheer in the air, our collective instincts for generosity often peak. It’s worth considering perhaps a better way to give…
Miniature House on A Financial Graph
Possibilities for Passive Income –
Real Estate and Stock Market
With the Tri-Cities housing market about as hot as it has ever been, why would an investor want to consider investing in the stock market? Let’s compare and contrast some…
Creating Income from Investment Accounts
One common concern for investors is seeking a reliable source of passive income. Sometimes it is not immediately evident to those investors that an investment account can easily produce passive…
Beneficiary Designations (Retirement Accounts and Insurance)
One of the biggest areas that is often overlooked in an estate plan are the seemingly innocuous beneficiary designations tied to assets like retirement accounts and life insurance. The beneficiary…
