In this episode of Cornerstone Clips, Joel Ockey breaks down the essentials of Roth conversions—what they are, how they work, and when they might make sense for your retirement strategy. Learn the key differences between Traditional and Roth IRAs, how converting can lock in today’s tax rates, and why having cash on hand to cover taxes is crucial. If you're looking to reduce future tax burdens and grow your retirement savings tax-free, this strategy might be worth exploring.
Naming a beneficiary on your investment account might seem like a smart way to avoid probate—but it could actually disrupt your estate plan. In this video, Beau Ruff explains why removing transfer-on-death (TOD) designations from non-retirement accounts can improve estate liquidity, simplify asset distribution, and ensure your will works as intended. Learn how centralized control and thoughtful planning can better serve your heirs and your legacy.
On March 24, 2023, the Washington State Supreme Court released its long-awaited opinion upholding the constitutionality of the new Washington Capital Gains …
Transferring wealth to children will become a touch easier in 2024. Buried in the estimated 4000-page Consolidated Appropriation Act of 2023 that …
In 2019, The SECURE Act changed the rules concerning the distributions from pre-tax Individual Retirement Accounts (IRAs) inherited through beneficiary designation (a …
Periodically checking and updating beneficiary designations on retirement accounts and life insurance is prudent. The next time you navigate the online portal …
Though most Americans have at least a passing understanding of the ability to use the equity in a house to obtain a …
Non-retirement investment accounts are often set up with wealth management firms. When the account is set up, there is an option to …
In the old days, the decision to fund a retirement account with pre-tax dollars (Traditional IRA) or fund it with after-tax dollars …
