Offset Taxes with Retirement Account Contributions

Even in the wake of complex tax provisions, a key to lowering your tax bill is really quite simple: Report lower taxable income. Since few of us actually want to earn less, the next option is to stash as much income as you can into tax-advantaged accounts. If you haven’t contributed the maximum amount to a qualified retirement plan at work throughout…

Why Skipping a Generation Can Be a Good Thing

The new tax law, passed in late December, temporarily raised the lifetime exclusion for estate, gift and generation-skipping taxes to just over $11 million per person. The higher exemption, which adjusts for inflation while in effect, sunsets at the end of 2025.

Preparing Your Heirs for Sudden Wealth Can Help Prevent Unwise Spending

If you have wealth to transfer, you may worry about the sometimes adverse effect of sudden wealth and the squandering of assets within a generation. There is a good reason to be concerned: 70 percent of family money disappears by the second generation and 90 percent by the third generation, according to the Williams Group wealth consultancy. The cautionary tales of…

A Brighter Financial Future 

 Article and Photography  A recent Money Matters on Campus survey revealed that more than 40 percent of new college students didn’t feel prepared to manage their money. Some were reluctant to even check their bank accounts for fear of what they might find. Clearly, some advice would be helpful.  Consider talking to your kids or grandkids sooner, rather than later,…

The Many Faces of Philanthropy 

 Article and Photography  Sources: Investopedia.com, AdvancementResources.org, NPTechForGood.com, BusinessInsider.com, Knowledge.Wharton.UPenn.edu, Philanthropy.com   W. Dale Crossley, JD Financial Planner, RJFS Evan M. Shear, CFP®, CERTIFIED FINANCIAL PLANNER™ 1515 International Parkway, Suite 2019, Heathrow, Florida, 407.215.7575 2395 N. Courtenay Parkway, Suite 201, Merritt Island, Florida, 321.452.0061    Raymond James Financial Services, Inc. Member FINRA/SIPIC Material created by Raymond James for use by its…

Rise of the Female Breadwinner

 Article and Photography  All of those college degrees women are earning these days plus the evolution of family structure have contributed to a mom phenomenon: Mothers contribute almost $1 trillion to the U.S. economy according to data from the U.S. Census Bureau’s survey. Further, the Senate’s Joint Economic Committee reports that women provide nearly 40 percent of household earnings for…

Benefit from Your Birthdays

 Article and Photography    Not all birthdays are about a driver’s license, getting to vote or toasting with a glass of wine. Some are important to your comfort in retirement too. No matter who you are, the years leading up to and during retirement contain a number of key financial planning opportunities worth capitalizing on. You and your spouse may…

Six Questions to Help Couples Get on the Same Page

 Article and Photography  It’s common for couples to have very different ideas about what retirement would be like, and the cost of providing those different lifestyles may vary significantly. For example, a career-oriented husband may think he’d like to continue working in some capacity, while his wife could be counting the days until the two of them can spend more…

Do Risk and Retirement Mix? 

We live in unusual times, with interest rates at historical lows but likely to rise in the not-too-distant future, stocks trading at what some consider elevated levels driven by a yearslong bull market, and investors scouring the pronouncements of central banks for clues to what may happen next. However, one thing remains unchanged—those in or near retirement still have to…

Five Roth Rules 

As an investor, there are always choices to make: pros and cons to weigh with your adviser. Deciding on your retirement savings vehicles is no different. There are so many options, but a Roth IRA, if you qualify, can really help with your retirement savings if you follow the rules.