financial planning

^{By: Susan Powers}

One of the first questions we ask clients when gathering information for their financial plan is, ‘At what age would you like to retire?’  Those who continue to enjoy their jobs and the challenges it brings, often plan on working well past age 65. For many others, the answer is often tied to the availability of Medicare, Social Security or other pension benefits.  

^{By: Kate Hennessy}

This year my husband and I are considering converting a portion or all of a tax-deferred rollover IRA to a Roth IRA.  We’ve had discussions with our accountant about the benefits of doing the conversion this year and will be assessing the impact of doing so on our taxable income.

^{By: Patrick Cote}

The pandemic has affected all of our lives in many ways.  For some families, the results have been tragic with the loss of loved ones.  For others, they have faced economic hardship with the loss of jobs or businesses.  Even if you have not been impacted economically, but have kids who are teenagers or in their early 20s, you may have seen how difficult it now is to find summer jobs.

^{By: Patrick Cote}

While created with good intentions, I have mixed feelings about the recent CARES Act provisions allowing for $100,000 in CRDs (coronavirus-related distributions) from retirement accounts like 401Ks and IRAs. These provisions are designed to help people who are facing a cash shortage now and have savings in 401Ks or IRAs.

^{By: Patrick Cote}

As we start to emerge from various shelter-in-place orders across the country, Susan, Kate, and I thought that it’s a great tim

^{By: Patrick Cote}

What does being “rich” actually mean?  I was recently asked this question by a client when we started talking about HENRYs (High Earners, Not Rich Yet).  It is a great question and the answers will vary from person to person.  Please note that we are talking about being financially rich, as there are other aspects of our lives that can also be rich.

^{By: Kate Hennessy}

You have spent the past 40+ years accumulating assets and saving.  You’ve been on autopilot and have enjoyed the ride.  You have this number in your head – I want to retire at 65, 67, or 70.

The SECURE Act became law on December 20, 2019 and the intent of this new law is to strengthen retirement security.  Having enough income in retirement is an important concept in financial planning.  When we work with our clients and ask them what financial success means to them, the overwhelming response is security - knowing they will not outlive their assets. 

^{By: Susan Powers}

The new Setting Every Community Up For Retirement Enhancement (SECURE) Act was just signed by President Trump on December 20,2019.  For individuals and small business owners, there are several ways the SECURE Act may affect you.  Highlighted below are a few of the ways the new legislation will impact IRA and employer plan withdrawal options and new rules for small businesses starting a retirement plan effective January 1, 2020. 

IRA and Employer Plan Withdrawals

^{By: Kate Hennessy}

With the new year and new decade upon us, one of your resolutions may be to save more or get your financial house in order.  I wanted to kick off the year with the top three reasons why people don’t ask an expert for help with their finances.  For those of you that haven’t hired an advisor, one or more of the reasons may resonate with you.