The holiday cliché is to complain about hyper-materialism, but according to anthropologists, gifts and gift giving help shape our identities.
This quarter, we saw that in 1-year returns ending December 31, 2023, Developed Freedom Investing had a -3.97% disadvantage, Emerging Market Freedom Investing had a +4.9% advantage, and Overall Freedom Investing had a -1.27% disadvantage.
Individual retirement accounts (IRAs) are one of the most important account types, and understanding the difference between Roth and traditional contributions and withdrawals is foundational to tax planning.
Life is volatile, risky, and on average rewarding. Diversification and rebalancing help to protect yourself from the volatility.
While not the most favorable RMD rules imaginable, I’m sure it is still a relief to know that you don’t need to navigate the new SECURE Act rules just because you dissolved the trust.
Hopefully, you didn’t bother looking, and I can be the first to tell you.
What procedure can you put in place to prevent employer match churning? That is still unclear.
If the form is accepted, the Social Security Administration will generally not only change your current IRMAA, but they will also use your Projected MAGI for the next several years. Here’s why.
While we still cannot call the end of the Bear Market from this performance, today’s returns strongly suggest that 15 months ago, October 12, 2022 was the end of this bear market.
For those over age 59 1/2, you would need to withdraw all funds attributable to basis before your withdrawal would be sourced from Roth IRA earnings and the age of your Roth IRA would matter for taxation.
A savings waterfall helps investors navigate the financial complexity available to them.
While an excess or failed backdoor Roth can feel very stressful to solve, it is a normal and quick fix for your qualified financial custodian.
Later required beginning dates are generally advantageous to seniors, although the complexity surrounding RMD rules is nothing to celebrate.
Seniors over age 65 may receive relief on their real estate taxes limited by AGI but regardless of net worth.
The IRS authors make clear that the purpose of the notice is to “provide guidance on discreet issues to assist in commencing implementation of these provisions” not to provide comprehensive guidance.
The Internal Revenue Service announced an administrative transition period that extends until 2026 the new requirement that any catch-up contributions made by higher‑income participants in 401(k) and similar retirement plans must be designated as after-tax Roth contributions.
The Tax Foundation recently published the article “Dwindling Savings and Increasing Financial Stress Highlights Need for Tax Reforms” suggesting that tax reform could improve the current state of American personal finances.
Required minimum distributions are taxed as taxable income, the same as other types of traditional IRA withdrawals and Roth conversions.
While the initial details sound promising, the downsides are many.
There is an artistry to a bond allocation, and while historical analysis can only be suggestive, it does tell a strong narrative.
Saving Tuesday is the Tuesday before Thanksgiving. It is a day to squirrel some savings away for your future self.
You can have an effectively uncapped state tax deduction if you have a high tolerance for paperwork.
Here are six reasons you may want to sell for a loss.
We have written on the topic of healthcare reform multiple times, including our 2014 economics of healthcare series which culminates in this article.
Twelve-month inflation for all items ending in September 2023 has been 4.1%, so the 2024 contribution limits increased significantly but less than last year.
While most states do not have their own estate or inheritance taxes, some states do and often their exemption is lower than the federal one.
It sounds broad and easy to use, but it is actually very specific and uncommon.
Now that these accounts are open at Charles Schwab, Marotta Wealth Management can manage and invest Health Savings Brokerage Accounts.
“Parental Reminder #42” reminds us that goodness is something bigger than we can articulate but, even though we cannot express it fully, it is very important.
This quarter, we saw that in 1-year returns ending September 30, 2023, Developed Freedom Investing had a -4.77% disadvantage, Emerging Market Freedom Investing had a +3.89% advantage, and Overall Freedom Investing had a -1.63% disadvantage.
We are very pleased to announce that Jacob Massanopoli is our newest CERTIFIED FINANCIAL PLANNER™ (CFP®) professional at Marotta Wealth Management!
My grandfather turns 97 this year. While not often celebrated or recorded in history, my grandfather played an important supporting role to many important events.
This new rule says that the account owner can distribute funds from a 529 plan directly to the designated beneficiary’s Roth IRA and have the rollover “be treated in the same manner as the earnings and contributions of a Roth IRA” (meaning no taxation).
This series of articles covers some of the most common investing mistakes and how to avoid them.
We are very pleased to announce that Greg Vairo is our newest CERTIFIED FINANCIAL PLANNER™ (CFP®) professional at Marotta Wealth Management!
There are strategies to achieve a better inner calm.
We can receive documents to our secure ShareFile client portal.
“And the now-20-year-old beneficiary who lost her father less than a year ago is supposed to navigate this mess on her own? No chance. This is madness.”
Congress decided to inflation-adjust both the existing and the new split-entity qualified charitable distribution limitations.
We avoid investments we deem too risky or laden with fees and seek instead a well balanced, low-cost, diversified portfolio.
It is helpful to know that a charitable remainder trust exists, but most charitable intentions benefit more from a donor advised fund.
The Schwab Bank representative said that he was familiar with these types of scams and knew how to handle it.
Fearful of monetary or societal failure, many hope that owning gold will bring them peace of mind. This articles reminds us to get peace of mind a different way.
The reason can be explained through a simple analogy about an interior decorator.
I am pleased to announce that our newest CERTIFIED FINANCIAL PLANNER™ (CFP®) professional at Marotta Wealth Management is me!
Once you’ve open an HSA and have started making contributions, it is important that you set beneficiary designations on the account.
Here are three common Roth transactions and how they interact with MAGI for Roth IRA purposes.
Waiting just one year means that you lose a portion of the growth in your traditional IRA to income taxes later.
These strategies are strong in both good times and bad.
If China booms, it may be a mistake that we reduced the allocation. If China undergoes investment controls, it may be a mistake that we kept China at all.