How a Beneficiary IRA Works
You’ve inherited an IRA- so what happens next? Before we start, we need to understand some key terms: Required Minimum Distribution (RMD): The dollar amount the IRS requires one to distribute from IRAs and defined contribution plans like 401(k)s and 403(b)s. This amount is distributed from your IRA and taxed as normal income unless that […]
Here’s How Trump’s Tariffs Effect You
There’s been a lot of writing about the new Trump Tariffs so I’m not going to delve into any figures, charts, numbers etc. (I started to, but it’s a long way down that rabbit hole). So here’s what you need to know in short form. How this affects US producers of raw materials They win […]
“Hell, yes!” or “No”
Greg McKeown, author of the book Essentialism: The Disciplined Pursuit of Less conducted a session at a NAPFA conference in San Diego last spring and the one thing that stuck in my head was the advice that if the answer to the question isn’t “Hell, yes!” then the answer should be “No”. While Greg was […]
Grammy’s Week – Take This Job and Shove It
The Grammy Awards are approaching and in anticipation the rest of the week our posts will be to relate a few songs to financial planning ideas. We hope to have some fun with this. In 1977 Johnny Paycheck had a hit with Take This Job and Shove It. Sadly, it is about a man who […]
Getting the Right Amount of Insurance – The 3rd Financial Commandment for Millennials
Insurance Coverage: Basic Concepts Part of Oak Street Advisors’ 10 Financial Commandments for Millennials series, basic insurance knowledge will help you get the coverage you need and help clarify some misconceptions. Health Employer group health insurance plans are the most common option for young investors. Often, you don’t have much say in the plan, but the pricing […]
Getting Over The Hump
For those of us who enjoy watching competitive golf and also enjoy a great story of perseverance, this weekend’s US Open had both on display. Dustin Johnson had been struggling to close out a major championship after being close several times and just coming up short. Well yesterday he finally got over the hump of […]
Getting Out of Credit Card Debt – The 2nd Financial Commandment for Millennials
Get Out of Credit Card Debt: Stop Giving Away Your Money Part of Oak Street Advisors’ 10 Financial Commandments for Millennials series, getting out of credit card debt is a crucial component for younger investors to get ahead. Interest payments can absolutely destroy your personal finances while often draining a debtors’ mental well-being as well. When used […]
Free Money
Posted by Bryan Taylor Everyone wants free money but I know too many of my peers who don’t care enough about their money to get it. Yes, it takes time, effort, extensive budgeting- and most importantly discipline, but if you are in control of your money you can truly make it work for you- even […]
Four Inevitable Trends for Investors
Over the course of my thirty-year career in the financial services industry I have seen and continue to hear many investment theses. Some brilliant, some not so much so. I have also witnessed a number of changes that in retrospect were obvious and inevitable. The personal computer revolution was one of the first. I recall […]
Focus
What you focus on and measure matters. If you focus on the daily swings in the markets and your investments it will lead you to become overly active in your investments. If you focus on reaching your long term goals it will lead you to doing the things that take you closer to those goals […]
