facebook twitter instagram linkedin google youtube vimeo tumblr yelp rss email podcast phone blog external search brokercheck brokercheck Play Pause
The Problem with Your Beneficiaries Thumbnail

The Problem with Your Beneficiaries

Insights

Click here to sign up for our newsletter!

In the past, passing money to your beneficiaries through an IRA was simple. You put money into your IRA and it accumulated over time. Then when the decedent passed away, their beneficiaries could take the distributions gradually over their whole lifetime.

Times have changed.

Under the SECURE Act, this is no longer possible. Let’s say you have two kids named as your IRA beneficiaries. When you pass, the money has to come out over ten years. If you have $1,000,000 in that IRA, that is potentially a huge amount of taxable income every year for those two people.

What do you do?

There are choices. Contact us to set up a time to discuss your options.


From the blog roll…

5 business owner investing mistakes – and how to avoid making them!

Typically business owners and the stock market have been like oil and water. Most don’t have the extra cash to invest, and if they do many times they direct funds into real estate or investing in another business. This article will cover the 5 biggest mistakes we see business owners making with investing. We’ll also give you some investing tips directly applicable to business owners; but don’t worry – we’ll make it fun, practical, and relevant to your professional and personal objectives.

READ HERE

What to do When Your Social Security Benefits Are Reduced

Many people talk about Social Security benefits being reduced, but very few have taken the time to figure out what that means for them – in real dollars. The Social Security Trust Fund is projected to run out in 2034.

READ HERE

 

Social Security for the Self-Employed (Everything You Need to Know)

In this article you will learn about what Social Security means for the self-employed. We’ll cover the basics of Social Security Taxes for self employed people, and give some suggestions about things to keep in mind as you plan for your retirement.

READ HERE

 

5 Books That Changed My Perspective on Personal Finance

As a financial advisor, I am constantly learning about new perspectives on personal finance, economics, and entrepreneurship. Here are five books that add something beyond the conventional wisdom.

 READ HERE

 

10 Things I Love About Being A Financial Advisor in Morristown, New Jersey

Morristown, New Jersey, and its surrounding area is a great place to work and live. As we’ve been financial advisors in Morristown, New Jersey and residents of nearby towns for several years now, we thought we would share our thoughts on the ten things we love about being a financial advisor in Morristown, New Jersey.

READ HERE


Check the background of this firm/advisor on FINRA’s BrokerCheck.