Can I name a Beneficiary on a Non-IRA account?
Yes, there is a way to designate a beneficiary on a non-IRA account and it is called a Transfer on Death agreement or TOD. Some financial institutions use the term Payable on Death or POD.
Before Tax Reform
What steps can you take before December 31 to reduce your income tax liability?
Tax Reform
Tax reform dominated the airwaves in October but before it could tackle tax reform, Congress needed to successfully pass a budget. By a narrow margin the budget passed on October 26th and Republicans immediately turned to drafting a new tax plan.
The Equifax Security Breach
A credit freeze locks your credit file from unauthorized requests and it can only be opened with a PIN which you know. This is more protection than any other security step you can take.
When should I start receiving income from my IRAs and how will that affect my taxes?
There are many mistakes that can be made when withdrawing money from retirement accounts. I call them Too Soon, Too Late, Too Little, and Too Much. Any of these violations can result in penalties in addition to taxes.
What is a Fiduciary and what does the Fiduciary Rule mean for Investors?
A Fiduciary is an investment advisor who works only for the investor and always provides advice that is in the investor’s best interest.