Advisors

2. What should I do with distributions? Generally, distributed money is subject to income taxes and a 10 percent early withdrawal penalty if you’re under 59½ years old (except in certain circumstances). If you want the money before you reach 59½, you’ll pay 20 percent to 40 percent in taxes and penalties. Federal rules require
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You usually have the choice of receiving payments for the rest of your life (a single-life annuity) or selecting from a variety of survivor options (joint and survivor annuity) that allow for your beneficiary to continue receiving payments after your death. If you choose payments for your life only, your monthly income will be higher.
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If you’ve managed to pull together a strategy for your personal finances, odds are it’s not the right one for you. That’s because many financial plans fail to consider the unique characteristics of an investor’s life, including his or her biases and the fluidity of investing goals, said Joe Duran, founder and CEO of United
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Jack Guez | AFP | Getty Images Bitcoin is a borderless digital currency that eliminates the need for a bank. Therefore, understanding this concept hinges on conceiving financial transactions without banks. Perhaps less surprising is that predictions of bitcoin’s demise fail to account for technological factors. Bitcoin is, after all, technology, but you don’t have
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If you’re looking for a sector that’s poised to grow, think technology. Certified financial planner Ted Jenkin, CEO of oXYGen Financial, predicts there will be strong growth in this area in the next five to 10 years. And there are three areas within this sector that could see the biggest boost. 1. Artificial intelligence. The
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You should read your anxiety about money as a call to action, says certified financial planner Douglas Boneparth. “Money tends to be an emotional area of people’s lives, so it’s no surprise that they think about this quite frequently,” said Boneparth, president of Bone Fide Wealth. “There are a number of ways to deal with
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First, let’s be clear: The current bull hasn’t been running as long as most people think. The popular belief that the current bull started in March 2009 is contradicted by the more than 20 percent dips in many indices that occurred between 2015 and Feb. 11, 2016 — arguably, the actual start of a new
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“With premiums much higher this year, it’s a good time to write options,” said Sterling Neblett, a certified financial planner and founding partner of advisory firm Centurion Wealth. “It can be a good strategy in volatile, choppy markets.” Option-writing strategies range from conservative (covered calls and collars) to extremely risky (naked puts). With the virtually
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1. Overconfidence. Clients affected by this bias often overestimate the confidence level and the accuracy of their own judgment as greater than the objective accuracy of those judgments. In other words, the subjective estimation of our own accuracy and reliability is greater than it objectively is. This bias can result in an investor who has
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“Location, location, location” has been a real estate industry cliché for nearly a century and, since clichés are clichés because they are largely true (according to the well-known, er, cliché), the mantra still applies — and across many industries. To wit, a less-than-ideal location or failed geographic expansion was a factor in 9 percent of
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If you don’t come up with the cash by the time your federal return is due, the loan morphs into an early distribution and is generally subject both to income taxes and the 10 percent early-withdrawal penalty if you’re under age 59½. Although many financial advisors say 401(k) loans should be off-limits entirely, others say
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If possible, try not to let your mortgage payments follow you into retirement, said financial advisor Winnie Sun. “When you have a mortgage, you really want to focus on paying it down,” said Sun, founder of Sun Group Wealth Partners. “There’s a lot of benefits to this.” Fewer payments, of course, will leave you with
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I recently read “The Index Revolution” by Charles D. Ellis, a well-known investor who is widely respected for his success in institutional finance. He has authored 16 books and more than 100 articles on investing strategies. “The Index Revolution” offers numerous reasons why index investing is the best approach. Here are three reasons that stood
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