Author Archives: Megan Russell

In all fields, the best methodologies are boring.

Four separate Schwab Tutorials made the top ten articles of 2019 with nearly 12K views each. Perhaps one day Schwab will write their own tutorials, but until then, I’m glad we can help so many people.

The selection of what products we purchase or avoid for clients is based solely on what we believe gives our clients the best chance to meet their goals.

Even if all four of these sentimental or pragmatic justifications are true, doing the wrong thing is still worse than doing nothing.

Luckily for the charitably-inclined individuals with nondeductible balances, QCDs are excluded from your Form 8606 taxable and nontaxable calculations.

The SECURE Act was merged into the 2020 budget bill which is now law.

There are several ways that I see my faith influence my work.

The thrift of taking care of your things is a wealthy mindset that pays off every year you don’t need to buy a replacement.

“It is, of course, hard to get people in any profession to do the right thing when they’re paid to do the wrong thing.”

The first lesson in learning how to spend is learning how to not.

Most professions do not know the exact day they were conceived. However, on December 12, 1969, financial planning was created and today in 2019, the profession turns 50 years old.

This 2018 article details some of our best gift ideas for some of the hardest people to shop for.

A wishlist is a force of thrift both for you to defer your consumption and for your family and friends to ensure that all the value of their gift makes it to your heart.

There are several ways that a Roth conversion benefits people regardless of their filing or marriage status.

When my desires can endure the distance of a week, I buy it.

No matter how small your savings, those small changes have large effects over time.

It is easy to find yourself browsing the store when you spot a t-shirt with a phrase that you can hear your friend saying. Avoid making a purchase by taking a picture.

This year was a good year for Roth loving folks like us.

Most of our regular use of items is habitual. Developing a mindset that uses less requires changing our habits.

As the proud mother of a now three-year-old daughter, I thought I’d record some of my and my firstborn’s favorite things from this past year as helpful ideas for gifts from grandparents.

Having a 401(k) plan with both pre- and post-tax balances is quite common, but mistakes are common as well.

Diversification among many different countries provides a more consistent return than investing entirely in the United States.

“After all this savings, I have about $3,000 per month left to save somewhere. Where should I save it?”

Your choices now change the course of your future in significant ways. “Into the Woods” is a cautionary reminder of that.

I think my second favorite feature of Charles Schwab’s banking service is their debit cards.

Your child may be in the thick of feeling out a boundary line by testing all your limits, but it pays off to be patient and trust that they will learn and they will listen.

Nice is different from good. You want a good financial planner not just a nice one.

In 2004, David Marotta wrote a seven part series originally titled “Retirement Wisdom.” The series explained the the seven principles to reaching your retirement goals.

Knowing what you want is important to directing the course of your life. To have a better life, you need to have a purpose for both you and your money.

To avoid a higher trading fee at Schwab, it is in your best interest to turn on paperless delivery for everything that you can.

Every school sets a budget or allowance for room and board, referred to as the cost of attendance. Are you allowed to reimburse yourself for the entire amount of Room and Board even if you did not spend that much?

I cannot imagine any consumer who, if they understood how such a select list of advisers was actually compiled, would use this list. Why limit yourself only to firms willing to pay a referral service to endorse them?

The first step to answering this question is to check that the school you want to attend is an eligible educational institution.

Luckily, you can update your address online. Unfortunately, it is not as straightforward as the average investor suspects it will be.

The process of correcting cost basis problems, although time consuming, is worthwhile.

With these moderate interest rates, the only clearly wrong decision in my view is buying a car on loan because you cannot afford it outright.

Schwab used to have a streamlined service for ordering more checks. Now as of 2019, they have outsourced their check ordering to a third party.

In 2009, David Marotta wrote a five-part article series for the Charlottesville Business Journal covering basic investment strategies. Its advice is still relevant today.

In reality, all three “myths” are cause for real concern about SRI, ESG, and other so-called impact investing.

Although this is the least common financial shock studied, it is one of the most difficult because at its core it is a problem money cannot solve.

Here is a strategy that can both help you identify what you value and help you start your budget.

Financial shocks can come in all shapes and sizes. This strategy of budgeting should increase your chance for success over the long haul.

Whatever technique you use to smooth your income, providing for the possibility of having a sudden reduction in income can help your family self-ensure against this potential financial shock.

If a portion of your charitable gift is nondeductible, then no portion of the gift can be counted as a Qualified Charitable Distribution. But there is one accepted loophole for QCDs.

This June, the IRS came out with their final ruling on how charitable gifts to receive state tax credits will be handled. This is how the strategy works now.

This is the financial shock of a trip to hospital. It is upsetting, expensive, and unexpected.

We are very pleased to announce that Elizabeth Woodrum is our newest CERTIFIED FINANCIAL PLANNER™ (CFP®) professional at Marotta Wealth Management!

This is the financial shock of a major home repair. It is expensive and surprising.

“I may leave a list or other written statement expressing how I wish certain items of my tangible property to be distributed.” But how do I do that?

Here is a simple list of the retirement account types and their differences.