Best Of

We have attempted in this article to provide generic guidance on the topic of calculating your own safe spending rate.

On June 2024, Schwab provided an update about viewing and taking your RMD on Schwab.com.

This simple example demonstrates the importance of expense ratio.

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.

Required minimum distributions are taxed as taxable income, the same as other types of traditional IRA withdrawals and Roth conversions.

There is an artistry to a bond allocation, and while historical analysis can only be suggestive, it does tell a strong narrative.

You can have an effectively uncapped state tax deduction if you have a high tolerance for paperwork.

The fact that markets are down isn’t a good reason by itself to fire your advisor, but there are reasons to switch financial advisors related to performance.

Within employer-sponsored retirement plans, there are special provisions for employees (not owners) who continue to work beyond their typical required beginning date.

The reason can be explained through a simple analogy about an interior decorator.

Roth IRAs can only be funded with earned income. Here is a guide to what the IRS considers to be earned income.

Here are three common Roth transactions and how they interact with MAGI for Roth IRA purposes.

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.

Here are some of the pros and cons of specific SEP IRA and individual 401(k) retirement account options available.

If you are expecting high inflation, it may be stocks which offer the greatest security against the diminishing dollar.

Next time you are wondering if you should invest now or “wait for a better time,” remember Schwab’s study and invest now in whatever way makes you invest now.

Which is worse: Being destitute while still alive or dying happy and provided for with a little extra?

Sophisticated tax planning can be effective at any age. However, with great complexity comes great opportunity.

It is perfectly fine for you to underspend your assets. You don’t need my permission, but you have my blessing anyway.

We haven’t seen high interest rates in many years, but high interest rates do not remove the potential benefits of having a mortgage.

Adding more Stability to an asset allocation isn’t an easy issue. It takes science to know how much bonds you need. It takes artistry to gradually adjust your asset allocation over time. 

In this article, I am defending the use of self-control in your financial habits.

Because so much of your net worth is in traditional IRA, how quickly you expect to withdraw from your retirement account assets will heavily influence how quickly or slowly the math would advise that you convert.

Inflation is like the rain. You must prepare in advance in order to stay dry.

One obscure way we bring value to clients is how we bill them.

If you receive Social Security benefits, the portion of those benefits which will be taxable depends on your income. The taxable portion can be anywhere from 0% to a maximum of 85% of your benefits.

Regardless of what you do with the money earned, continuing to work is a worthwhile journey.

In this podcast, we discuss why spending is the core of your financial plan, how to align your spending with your goals, and how to use Core Values Budgeting to identify budgeting changes.

Bitcoin satisfies some of the characteristics of a currency, but there are at least seven areas of concern.

I expect that eventually Bitcoin will either develop a real, useful value for investors or the bubble will burst.

Saving for long-term care, if done early enough, is not too expensive and helps to protect yourself from this potential financial shock.

You can easily update your contact information online through Schwab Alliance.

These credit cards won’t change your life, and they shouldn’t, but they can get back a very small portion of the money you spend each month.

Hard work can often only be learned by struggling. You can’t teach your children to live within their means if you always supplement their means.

Yes, many retirees may die with significant assets. However, this helps to ensure that they have sufficient assets to support their lifestyle should they make it to age 100.

The annual drag of taxable account taxation may seem like a small amount, but the effect over long periods of time such as 30 years is significant.

These complex formulas help decide when highly appreciated investments should be sold and the proceeds put in a different investment philosophy.

I recently received the following paraphrased questions from a prospective client and here were my replies.

Doing some conversion is usually much better than doing no conversion at all. We offer these four simple but effective strategies to calculate a good-enough conversion target for this year.

Given the purposeful complexity and limitations to structured products we suggest you avoid them.

All of these factors contribute to the low inclusion of people of color among those holding the CFP® certification.

Here are the most common elder scams and how to prevent them.

To help you get a good financial start as parents, here’s a financial checklist for new parents.

If you are still in your 60s, the good news is your decision doesn’t have to be permanent. You actually have two ways in which you can change your benefit amount.

Home bias is the tendency of investors to invest a majority of their assets in companies domiciled in their home country. Recency bias is the tendency for humans to believe that what has happened recently will continue to happen in the future.

Even if the world was ending, I still want to have a mortgage.

In this talk, David demonstrates how Roth conversions can be extremely valuable even if a client is always in the same tax bracket.

Don’t delay getting your finances in order until you get your finances in order. Ask for help today and see what wisdom a financial advisor has to share.

By decoupling your standard of living from the size of your income, you have taken the first step toward financial freedom.

The worst cause of employer stress is the fact that there exist many financial salespeople who offer plans which benefit themselves at excessive cost to the employer and their employees.