Your first meeting with your new financial planner is an important event. This is the person you’re trusting to advise you on matters that will materially affect your life and the lives of your family members for years to come. A productive first meeting is important to starting the relationship off right. Here are some …
What can you expect in the first meeting with your financial planner?Read More
Year end marks several important deadlines that you don’t want to forget. If you fail to meet these deadlines, you will lose out on the benefits for this year. Here are eight important tasks to take care of before Dec. 31, 2018: Max out your employer-sponsored retirement plan. If you still working you need to take the free matching funds …
8 Important Tasks For Your Financial Plan Before Year EndRead More
If you ask me, my services to my clients are priceless, but I know that’s not a very satisfying response. The true answer for your family of how much return on investment you get from a financial advisor will, of course, depend on your specific situation. Here are some thoughts on how to answer this …
Retirement accounts are often the largest asset a person owns, so it’s no surprise that they routinely get split as part of a divorce settlement. But under law, a retirement account is the property of the “worker” and can only be assigned to somebody else under specific conditions. In a divorce, the process of “splitting …
In Minnesota we are accustomed to paying lots of state income tax. We have the 20th highest state tax. Typical state and local taxes in Minnesota amount to 11.57 percent of adjusted gross income — about 7.56 percent more than the national average according to wallethub.com. While it stinks to pay so much in state taxes, …
Most retired folks know that IRS rules require owners of retirement accounts to take distribution when they reach a certain age. It’s called the Required Minimum Distribution or RMD. But sometimes people get some of the details wrong. So here are a few things to remember about RMDs Getting the RMD wrong can sting If …
