It’s a Marathon
Usain Bolt is the fastest man in the world when it comes to sprinting. The gun fires and Bolt is off and in less than 10 seconds Usain has crossed the finish line. Unlike the mad dash speed of a sprinter, reaching you financial goals is more like running in a marathon where pacing yourself […]
Is your advisor really a fiduciary?
The Department of Labor’s fiduciary rule has died in the courtroom. The Insured Retirement Institute and the Securities Industry and Financial Markets Association along with the Chamber of Commerce brought suit to protect the financial service companies who would prefer not to act as your fiduciary partner. After a three-judge panel ruled the DOL had exceeded […]
Is Gold Really Golden?
Sometimes I get a question about investing in gold. Usually it is after a tumultuous time in the stock market or a geopolitical crisis de jour. But thinking of gold as an investment to my mind is wrong. Gold is not an investment it is something to speculate in. An investment grows apart from any […]
Investing Should Be Scary
It is always amazing how stock market tops attract so many investor dollars. Just when things are at their riskiest point flows of funds into stocks skyrockets. We convince ourselves that the part will last forever and we hate being left out. The flip side is the head scratcher of a down market, where no […]
How to Use Transfer on Death Accounts
Many times I have had clients ask about having a child named as a Joint Tennant with right of survivorship on an investment or banking account. The reasons the client cites is usually to provide liquidity for the estate, avoid probate, and have someone who can access funds should they not be able to write […]
How to Take Tax-Free Qualified Charitable Distributions from Your IRA
If you’re age 72 or older you probably know you must begin taking distributions from your IRA — whether you want to or not. The IRS life expectancy tables determine your Required Minimum Distribution (RMD) based on the previous years ending balance for your IRA and your attained age for the tax year. The Qualified […]
How to Start Your Estate Plan
Mistakenly, many believe that they do not have enough assets to worry about estate planning. With today’s $5.6 million exclusion per individual and simplified portability that raises a couple’s exclusion to $11.2 million, estate taxes may not be an overbearing concern. But there are many estate planning steps everyone with heirs and assets should take. […]
10 Financial Commandments for Millennials
Budget Allocation: The First Step in Personal Finance Part of Oak Street Advisors’ 10 Financial Commandments for Millennials series, budget building and understanding a general hierarchy of allocating extra income is crucial to getting a head start on retirement planning for millennials. Follow these steps and refer to the Personal Budget Template to begin. Make a budget and stick […]
How to Lower Your Income Tax Bill
Okay– you just completed your income tax return for last year. You want to file it away and not worry about taxes until next year, but before you do– take a look at your completed return to identify ways you can save tax dollars next year. Income tax planning can add to your future […]
How to Keep the Premium Tax Credit While Making Over $100,000
In Charleston and Myrtle Beach, clients and potential clients often assume the Affordable Care Act (ACA) only helps low earning individuals and families. This is far from the case. When using proper financial planning strategies, some families can make up to $239,000 and still qualify for the healthcare subsidy. Over 10 million Americans utilized Affordable […]
