In today’s bear market, tax efficiency management is used to harvest losses and adjust assets in portfolios. While a client is reaping long-term gains, paring losses can reduce tax liabilities. After all, volatility and tax management co-exist together. Planning for tax efficiency in your portfolio during times of volatility is essential and can be accomplished […]
Have you ever thought about the important role life insurance can play in helping you manage a variety of important financial objectives? Let’s look at some “slice of life” hypothetical examples and you’ll see how life insurance can have broad applications. Creating an “Instant Estate.” First, consider this scenario: A young married couple, Cheryl […]
When it comes to 401(k) plans, some people may find themselves a bit confused about the 10% Federal income tax penalty for withdrawals prior to age 59½ and hardship withdrawals from a 401(k) plan. The Internal Revenue Service (IRS) does allow qualified hardship withdrawals from a 401(k) account. However, a qualified hardship withdrawal does not […]
As Melanie Marshall (a hypothetical case) prepares to head off to college, she’s looking forward to her newfound independence. Although Melanie will be on her own for the first time, her parents, Joan and Al, can at least rest assured they’ve schooled her well in handling her personal finances. A typical student spends well […]