In December 2019, President Trump signed the Setting Every Community Up for Retirement Enhancement (SECURE) Act into law. Will it affect you?
In late June, the IRS announced RMDs would be able to be reversed from any account requiring them through August 31st. Since the IRS is allowing this, it presents a potential tax planning opportunity.
At Foster Group, we focus on what we can control and embrace uncertainty. So, when it comes to your financial plan, what are the areas we can help you control?
Young physicians often ask, “Should I focus more aggressively on paying down my debt, or should I just do the minimum and try to save as much as possible?” That’s an excellent question, with lots of variables and layers.
In my daily work with clients, the question often comes down to, “How much do I need to retire comfortably?” My usual answer is, “How long are you going to live, and what do you want to eat?!”
While I don’t think this approach is for everyone, I do think many of us would benefit from making some of these decisions.
The rising U.S. national debt has been a topic of conversation for many years and 2020 has magnified the focus on this issue.
Yet, all too often, there is a second group of retirees for whom retirement is filled with uncertainty. Let’s say that at age 58, suddenly you are forced to retire. This could be a full five to seven years before you planned. What do you do now?
If the financial goals conversation seems intimidating to you, know that you are not alone!
If the prospect of sending your child on their entry into adulthood isn’t hard enough, there is all the paperwork to decipher… the ACT/SAT, college applications, scholarship applications, and of course, the dreaded FAFSA!
An important part of building out a financial plan is determining goals. Goals help us look at a financial plan with the “end” in mind.
That’s when I realized, constructing a basement wasn’t all that different from constructing a financial plan.
Did you know that there are just four uses of money? They are Owe, Grow, Give, and Live.
