Sep 9, 2020 | Weekly Market Commentarfy, Weekly Market Commentary
September 8th, 2020 Chadd Mason, CEO The Cabana Group Stocks Enter Uncharted Waters During Most Volatile Time of the Year Equity markets hit a wall on Thursday and selling began in earnest for the first time since March. In my opinion, the straight up move in equity...
Sep 8, 2020 | IRA Blog
By Ian Berger, JD IRA Analyst In Notice 2020-68, issued September 2, 2020, the IRS gave limited guidance on certain retirement provisions of the Setting Every Community Up for Retirement Enhancement Act (the “SECURE Act”). The SECURE Act was signed into law on...
Sep 3, 2020 | IRA Blog
By Andy Ives, CFP®, AIF® IRA Analyst Question: Good Afternoon Ed Slott and Company, LLC, I was inquiring about a recent situation with a client that came up and if you could be of any assistance. We recently had a client pass away who was the account holder of an...
Sep 3, 2020 | Blog, Financial Services Newsletter, New Weekly Newsletter, Weekly Article, Weekly Newsletter
To redesign a retirement that builds the necessary financial resilience for longer lives, the World Economic Forum and Mercer have created a ten-point checklist to redesign retirement. Safeguarding financial wellness requires an all-encompassing view of a person. This...
Sep 2, 2020 | IRA Blog
By Sarah Brenner, JD Director of Retirement Education Despite the COVID-19 pandemic, or maybe even because of it, real estate markets in many areas of the country are busy right now. If you are considering jumping in, and if this is your first home purchase, coming up...
Sep 1, 2020 | Weekly Market Commentarfy, Weekly Market Commentary
August 31st, 2020 Chadd Mason, CEO The Cabana Group Is the S&P 500 a True Reflection of the U.S. Economy? The S&P 500 has officially closed out weekly trading at new all-time highs. It is now up nearly 8% for the year. We have watched this “broad” index battle...
Sep 1, 2020 | Market Review and Outlook
-Darren Leavitt, CFA Global equity markets continued their ascent in August. Developed international markets increased by 4.72%, while emerging markets increased by 2.89%. The S&P rose 7.01%, the Dow gained 7.57%, the tech-heavy NASDAQ led gains with a 9.59%...
Aug 31, 2020 | IRA Blog
By Andy Ives, CFP®, AIF® IRA Analyst As sure as the sun will rise, someone will take a distribution from his IRA tomorrow. And as sure as the moon will set, someone will fail to roll over his IRA distribution within 60 days. And as sure as the wind will blow, so too...
Aug 27, 2020 | IRA Blog
By Ian Berger, JD IRA Analyst Question: I had taken an RMD in January 2020 from an IRA account. Then in July, I returned a portion back to the same IRA. Now I want to return another portion back to the IRA. Are multiple transactions for reversal allowed? Thanks for...
Aug 27, 2020 | Blog, Financial Services Newsletter, New Weekly Newsletter, Weekly Article, Weekly Newsletter
Using Annuities to Cover Basic Living Expenses for Life The names and numbers may vary but the situation is all too common. Approaching retirement at age 65, John and Jill Smith realized their monthly income from Social Security and pensions total $700 less than their...
Aug 26, 2020 | IRA Blog
By Ian Berger, JD IRA Analyst Some of you may have received an RMD (required minimum distribution) from an IRA or employer plan earlier this year that you don’t want to keep. Since the CARES Act waived RMDs for 2020, “RMDs” received in 2020 are technically not RMDs...
Aug 25, 2020 | Weekly Market Commentarfy, Weekly Market Commentary
August 24th, 2020 Chadd Mason, CEO The Cabana Group Tech Companies Lead the S&P 500 to Record Highs This past week the S&P 500 battled resistance at its previous all-time highs (just below 3400). We had two consecutive record closes, only to fall back after...
Aug 24, 2020 | IRA Blog
By Sarah Brenner, JD Director of Retirement Education The upcoming school year for many students is going to look like nothing we have ever seen before. For many, computers and related technology will become an indispensable part of academic life. This means that...
Aug 20, 2020 | IRA Blog
By Sarah Brenner, JD Director of Retirement Education Question: In December of 2018 I did my first partial Roth IRA conversion into a new Roth IRA. I’m older than 59 ½. In December of 2019 I did my second partial Roth IRA conversion into the same Roth IRA opened in...
Aug 19, 2020 | IRA Blog
By Andy Ives, CFP®, AIF® IRA Analyst Dollar cost averaging is a tried-and-true investment strategy that has existed for decades. Using this technique, an investor divides up their entire amount to be invested and makes smaller periodic purchases over a desired time....
Aug 18, 2020 | Weekly Market Commentarfy, Weekly Market Commentary
August 18th, 2020 Chadd Mason, CEO The Cabana Group There are Many Unknowns, but the Market Continues to March On The S&P 500 and the Dow continue their respective attempts to break through the all-time highs established in February. Both major indices have been...
Aug 17, 2020 | IRA Blog
By Ian Berger, JD IRA Analyst Many of you may have already received, or may be receiving, an RMD (required minimum distribution) from your employer plan this year. If the CARES Act waived 2020 RMDs from plans and IRAs this year, how could a company plan be making RMD...
Aug 13, 2020 | Blog, Financial Services Newsletter, New Weekly Newsletter, Weekly Article, Weekly Newsletter
Know your full retirement age, coordinate the timing of benefit claims with your spouse, and weigh the advantages of delaying your Social Security benefits. Social Security benefits have long been a critical part of Americans’ retirement income plans. After all, the...
Aug 13, 2020 | IRA Blog
By Andy Ives, CFP®, AIF® IRA Analyst Question: Client has a Thrift Savings Plan and took RMDs in January, February and March of 2020. Client then rolled the balance of the TSP into an IRA. Question is whether or not he can “repay” those RMDs to the IRA under Notice...
Aug 12, 2020 | IRA Blog
By Sarah Brenner, JD Director of Retirement Education We are in the dog days of summer and this year is a crazy and unsettling time. The last thing on your mind may be your IRA. However, you should be aware that an important deadline is quickly approaching. If you...
Aug 11, 2020 | Weekly Market Commentarfy, Weekly Market Commentary
August 10th, 2020 Chadd Mason, CEO The Cabana Group The S&P 500 Inches Closer to All-Time Highs, Encouraged by Q2 Earnings Major equity indices are positive for the year. The Nasdaq is now at all-time highs on the back of blowout performance from Amazon, Google,...
Aug 10, 2020 | IRA Blog
By Andy Ives, CFP®, AIF® IRA Analyst Yes, trusts can play an instrumental role in estate planning. Yes, special needs trusts are invaluable to those with disabled or chronically ill family members. Trusts are essential for minors and for those who may struggle with...
Aug 7, 2020 | Blog, Financial Services Newsletter, New Weekly Newsletter, Weekly Article, Weekly Newsletter
Even in light of an all-consuming pandemic, there are some mega-trends that continue their powerful and profound impact on global society. One such trend is global aging, which has led to a reimagining and a reframing of the relationship between age and health,...
Aug 6, 2020 | IRA Blog
By Ian Berger, JD IRA Analyst Question: I can’t find the answer to this question anywhere, so I thought I’d go straight to the experts. Does the CARES Act waive the requirement for a surviving spouse to distribute the RMD in 2020 prior to re-registering...
Aug 5, 2020 | IRA Blog
By Ian Berger, JD IRA Analyst Hidden within the Setting Every Community Up for Retirement Enhancement Act (SECURE Act) signed into law last December is a provision giving businesses extra time to establish certain new tax-qualified retirement plans. Prior to the...
Aug 4, 2020 | Weekly Market Commentarfy, Weekly Market Commentary
August 3rd, 2020 Chadd Mason, CEO The Cabana Group All Eyes on Congress Equity markets continue to push higher in the face of ongoing uncertainty. We discussed last week that the next probable stop for the S&P 500 (SPY) is the February high of 3400. We continue to...
Aug 4, 2020 | Weekly Market Commentarfy, Weekly Market Commentary
August 3rd, 2020 Chadd Mason, CEO The Cabana Group All Eyes on Congress Equity markets continue to push higher in the face of ongoing uncertainty. We discussed last week that the next probable stop for the S&P 500 (SPY) is the February high of 3400. We continue to...
Aug 3, 2020 | IRA Blog
By Sarah Brenner, JD Director of Retirement Education Last year the SECURE Act became law and eliminated the stretch IRA for millions of IRA beneficiaries. However, for some IRA beneficiaries the stretch lives on. For most beneficiaries, the stretch is now replaced...
Aug 1, 2020 | Market Review and Outlook
-Darren Leavitt, CFA Covid-19 infections continued to hobble the reopening of specific geographies around the world, while efforts to produce a vaccine continued to show positive progress. Central banks were reasonably quiet during the month, keeping policy rates low...
Jul 30, 2020 | IRA Blog
By Sarah Brenner, JD Director of Retirement Education Question: I have a very simple ROTH IRA question. I borrowed money from my ROTH IRA with the intention of paying it all back in 60 days. To avoid any penalty, must I make one repayment of all the money I borrowed?...
Jul 30, 2020 | Blog, Financial Services Newsletter, New Weekly Newsletter, Weekly Article, Weekly Newsletter
With COVID-19 making headlines around the world, it’s normal to feel uncertain about many aspects of life right now, including your finances. Even if you don’t catch COVID-19, you could be financially impacted by the fallout. Throughout this tumultuous period, your...
Jul 30, 2020 | Weekly Market Commentarfy, Weekly Market Commentary
July 29th, 2020 Chadd Mason, CEO The Cabana Group Trust the Process My apologies to everyone for the late commentary this week. I spent the last five days on a golf and BBQ tour across the beautiful state of Arkansas in an RV with my son Jack. Truth be told, we only...
Jul 29, 2020 | IRA Blog
By Andy Ives, CFP®, AIF® IRA Analyst A financial advisor contacted me about her client who had recently passed away. The advisor was legitimately concerned about a rollover check received by the now-deceased individual. It had not been deposited into his IRA prior to...
Jul 27, 2020 | IRA Blog
By Ian Berger, JD IRA Analyst With more 401(k) plans offering Roth contributions and more folks taking distributions from their plans, now’s a good time to review the tax rules governing Roth 401(k) distributions. Qualified distributions. If your Roth 401(k)...
Jul 23, 2020 | IRA Blog
By Andy Ives, CFP®, AIF® IRA Analyst Question: Once the RMD’s for 2020 were suspended, I withdrew what would have been my RMD from my traditional IRA and deposited it in my Roth IRA. Can I now withdraw that amount from my Roth and repay it to my traditional IRA?...
Jul 22, 2020 | IRA Blog
By Sarah Brenner, JD IRA Analyst It happens. You have made a 2019 contribution to the wrong type of IRA. All is not lost. That contribution can be recharacterized. While recharacterization of Roth IRA conversions was eliminated by the 2017 Tax Cuts and Jobs Act,...
Jul 22, 2020 | Blog, Financial Services Newsletter, New Weekly Newsletter, Weekly Article, Weekly Newsletter
KEY POINTS The economic downturn prompted by the coronavirus comes at a particularly bad time for older workers. New research takes a look at how well those individuals may fare when it comes to working from home or finding new employment. Results are so-so. Older...
Jul 21, 2020 | Weekly Market Commentarfy, Weekly Market Commentary
July 20th, 2020 Chadd Mason, CEO The Cabana Group The S&P 500 Turns Positive for the Year The benchmark S&P 500 index has officially broken out above 3200 and, in doing so, broken out of its two -month trading range. We have been watching this unfold for...
Jul 20, 2020 | IRA Blog
By Andy Ives, CFP®, AIF® IRA Analyst The IRA and plan rollover rules have been in constant flux this year. We are now past the original July 15 extended rollover deadline. This was the first extension date created by IRS Notice 2020-23. Distributions from an IRA or...
Jul 20, 2020 | Blog, Financial Services Newsletter, New Weekly Newsletter, Weekly Article, Weekly Newsletter
They face particular challenges brought on by Covid-19 — issues, experts say, that could lead to retirement earlier than planned. Dorian Mintzer loves her work. A 74-year-old psychologist, coach and author, she has no plan to retire, and has continued to work during...
Jul 16, 2020 | IRA Blog
By Ian Berger, JD IRA Analyst Question: For COVID “special” Aug 31 rollovers, am I allowed to return my 401(k) required minimum distribution (RMD) to my IRA? Thank you, Maria Answer: Hi Maria, Yes, the CARES Act and subsequent IRS guidance allows unwanted...
Jul 15, 2020 | IRA Blog
By Ian Berger, JD IRA Analyst Admittedly, it’s not such a bad problem to have. Nonetheless, it’s true that high-paid company plan participants can have their benefits limited by the IRS compensation limit. The compensation limit is $285,000 for 2020 and goes up most...
Jul 14, 2020 | Weekly Market Commentarfy, Weekly Market Commentary
July 13th, 2020 Chadd Mason, CEO The Cabana Group Equity Markets Show Strength Ahead of Bank Earnings Equity markets moved to the high end of their trading range over the past week. For those keeping track, the S&P 500 has been rangebound between 3000 and 3200 for...
Jul 13, 2020 | IRA Blog
By Sarah Brenner, JD IRA Analyst The countdown to the much delayed 2019 tax filing deadline is on. The deadline is July 15, 2020, which is only a couple of days away. Time is running out. Is your IRA ready? Making Your 2019 IRA Contribution Due to the COVID-19...
Jul 10, 2020 | Blog, Financial Services Newsletter, New Weekly Newsletter, Weekly Article, Weekly Newsletter
Recovery is starting quickly as states reopen, but the journey gets bumpier from here, Kelly and fellow strategist David Lebovitz warn. There is still a long way to go before the United States has a full economic recovery and it is therefore wise for investors to be...
Jul 9, 2020 | IRA Blog
By Sarah Brenner, JD IRA Analyst Question: Hello, I am aware of the IRA one-rollover-per-year rule. What I can’t find is if a married couple that files jointly violates the rule if they each do a rollover from their own individual IRAs? For example: One person has an...
Jul 8, 2020 | IRA Blog
By Andy Ives, CFP®, AIF® IRA Analyst As we have written on many occasions, the “Coronavirus Aid, Relief, and Economic Security Act” (CARES Act) waives required minimum distributions (RMDs) for 2020. This waiver applies to company savings plans and IRAs, including both...
Jul 8, 2020 | Weekly Market Commentarfy, Weekly Market Commentary
July 7th, 2020 Chadd Mason, CEO The Cabana Group Midyear Outlook: Acknowledging Where We Are To start, I hope everyone had a safe and restful July 4th holiday. Time spent with family and friends is what matters most. The older I get the more that reality sinks in. I...
Jul 6, 2020 | IRA Blog
By Ian Beger, JD IRA Analyst There’s been a flurry of recent government regulation of company retirement plans. Here’s a quick summary: Electronic Disclosure of Retirement Plan Documents On May 27, 2020, the Department of Labor published a final regulation making it...
Jul 2, 2020 | IRA Blog
By Andy Ives, CFP®, AIF® IRA Analyst Question: If someone took two IRA distributions earlier in 2020 that were considered RMDs, and now wishes to repay the cumulative amount back into the same IRA, are there any rules about the number of rollover deposits they can...
Jul 2, 2020 | Blog, Financial Services Newsletter, New Weekly Newsletter, Weekly Article, Weekly Newsletter
Now that we’ve entered a bear market for the first time since 2009, many pre-retirees are likely asking questions about the impact on their retirement savings. Will the stock market sell-off wipe out years of growth in their 401(k)s? Are there any steps that can be...
Jul 1, 2020 | Market Review and Outlook
-Darren Leavitt, CFA The financial markets continued to be volatile throughout June but were ultimately able to build upon May’s gains. Optimism surrounding the reopening of the global economy fueled investor’s risk appetite for cyclical issues such as financials and...
Jul 1, 2020 | IRA Blog
By Sarah Brenner, JD IRA Analyst IRAs are supposed to be for saving for retirement but in challenging economic times like these many individuals may be forced to take distributions before retirement age. Be careful! If you tap your IRA before reaching age 59 ½, the...
Jun 30, 2020 | Weekly Market Commentarfy, Weekly Market Commentary
June 22nd, 2020 Chadd Mason, CEO The Cabana Group Covid-19 Cases Spike in the U.S. as Boeing Resumes 737 Max Test Flights The S&P 500 closed on Friday just below its 200-day moving average. This was the culmination of a 5% drop for the week. The Dow and Nasdaq...
Jun 29, 2020 | IRA Blog
By Andy Ives, CFP®, AIF® IRA Analyst After a six-month sprint through a diabolical obstacle course of new laws, a pandemic, record unemployment, deaths, confusion and complete disruption of everyone’s professional and personal lives, this seems like a good time to...
Jun 25, 2020 | IRA Blog
By Ian Berger, JD IRA Analyst Question: Hi Ed, If a person takes that 100k distribution, can they elect to split evenly in 2020-2022 as income? Or can they determine how to apply the income? Shannon Answer: Hi Shannon, Those persons who qualify for up to $100,000 of...
Jun 25, 2020 | Blog, Financial Services Newsletter, New Weekly Newsletter, Weekly Article, Weekly Newsletter
Americans without retirement savings are increasingly moving in with their millennial children. Sian-Pierre Regis, 35, is used to living with roommates. For the past 10 years, he has split the rent on his apartment in the Chelsea neighborhood of Manhattan with two (in...
Jun 24, 2020 | IRA Blog
By Ian Berger, JD IRA Analyst The IRS has extended the rollover deadline for required minimum distributions (RMDs) taken from IRAs or company plans in 2020. In Notice 2020-51, released on June 23, the IRS said that any unwanted 2020 RMDs can be repaid via rollover to...
Jun 23, 2020 | IRA Blog
Are you acting in your clients’ best interest when it comes to rollovers? On June 30, the new SEC Regulation Best Interest (Reg BI) becomes effective. Reg BI establishes a “best interest” standard of conduct for broker-dealers when they make recommendations to clients...
Jun 23, 2020 | Weekly Market Commentarfy, Weekly Market Commentary
June 22nd, 2020 Chadd Mason, CEO The Cabana Group Which Way Will the Market Break? U.S. equity markets continue to be range bound but hold above the all-important 200-day moving average at 3000 (S&P 500). I read over the weekend that there remains a record amount...
Jun 22, 2020 | Blog, Financial Services Newsletter, New Weekly Newsletter, Weekly Article, Weekly Newsletter
The economic gut punch of the COVID-19 pandemic is being felt by retirees. Even those who have savings and other resources now fear that the financial stability they had envisioned for their post-working years is gone. With the U.S. economy staring at a recession and...
Jun 22, 2020 | IRA Blog
By Sarah Brenner, JD IRA Analyst On June 19, the IRS released additional guidance on coronavirus-related distributions (CRDs) from retirement accounts. The new guidance will make many more individuals eligible for these tax-advantaged distributions allowed under the...
Jun 18, 2020 | IRA Blog
By Sarah Brenner, JD IRA Analyst Question: Thank you for all the great resources you provide. I have been looking for an answer to my specific situation and have not been able to find a clear answer to what I think is a pretty straight forward situation/fact pattern....
Jun 17, 2020 | IRA Blog
By Andy Ives, CFP®, AIF® IRA Analyst FIX: Rolling Over the Tax Withheld on a Distribution. Was the mandatory tax of 20% withheld on your work plan withdrawal even though you intended to roll over the entire account? Did you change your mind on an IRA withdrawal and...
Jun 15, 2020 | Weekly Market Commentarfy, Weekly Market Commentary
June 15th, 2020 Chadd Mason, CEO The Cabana Group Markets Show Important Reversal at Even More Important Level Two weeks ago, we commented on the ongoing test faced by the broad indices at their respective 200-day moving average. We noted that if equity markets were...
Jun 15, 2020 | Blog, Financial Services Newsletter, New Weekly Newsletter, Weekly Article, Weekly Newsletter
Right now, spending habits are changing, for better or worse. With unemployment at an all-time high and many people working from home, your budget could be totally different from usual. You may be tight on money or have a little extra cash in your pocket. Regardless...
Jun 15, 2020 | IRA Blog
By Ian Berger, JD IRA Analyst In the wake of the coronavirus pandemic, the IRS has temporarily relaxed the rule that spousal consent to certain retirement plan distributions and loans must be witnessed personally by a notary public or a plan representative. In Notice...
Jun 11, 2020 | IRA Blog
By Andy Ives, CFP®, AIF® IRA Analyst Question: Under the SECURE Act, if we can assume a Special Needs Trust can qualify for the stretch via the disabled beneficiary, what happens when the special needs trust beneficiary passes? The next named beneficiary (remainder)...
Jun 10, 2020 | IRA Blog
By Sarah Brenner, JD IRA Analyst By now, most IRA owners have heard the bad news. The SECURE Act eliminates the stretch IRA for the majority of beneficiaries who inherit in 2020 or later. Instead, for most, a 10-year payout rule will apply. Here is how this new rule...
Jun 9, 2020 | Uncategorized, Weekly Market Commentarfy, Weekly Market Commentary
June 8th, 2020 Chadd Mason, CEO The Cabana Group Perception is Not Reality We have spent the past few weeks discussing the need to have a rules-based process in place that helps to take the emotion out of investing when markets appear to disconnect from what we...
Jun 8, 2020 | IRA Blog
By Andy Ives, CFP®, AIF® IRA Analyst The King of the Land wanted to send 100,000 of his greatest warriors off to battle. However, he was told that 20,000 of the warriors needed to remain behind to protect the castle. The King of the Land did not like this news. He...
Jun 6, 2020 | Blog, Financial Services Newsletter, New Weekly Newsletter, Weekly Article, Weekly Newsletter
The Washington Post spoke to six Americans who have come to the end of their work lives with no financial cushion, no nest egg. The coronavirus pandemic has scrambled many Americans’ financial futures, but some baby boomers have found surprising ways to cope with the...
Jun 4, 2020 | IRA Blog
By Ian Berger, JD IRA Analyst Question: I understand that I don’t have to take any RMDs during 2020. However, is the CARES Act rule that it is an-all-or-nothing for RMDs or can I take a portion of my RMD for 2020 but not all John Answer: Hi John, Since RMDs are...
Jun 3, 2020 | IRA Blog
By Ian Berger, JD IRA Analyst As a result of the current economic downturn, we can expect more and more companies to offer lump sum buyouts to employees with defined benefit (DB) plan benefits. A lump sum buyout is a limited opportunity for DB plan participants to...
Jun 2, 2020 | Weekly Market Commentarfy, Weekly Market Commentary
June 1st, 2020 Chadd Mason, CEO The Cabana Group The Stock Market Continues to Climb as Protests Spread Nationwide Equity markets closed out the month of May with big gains. The S&P 500 climbed more than 5% for the month despite a lot of volatility. Swings of more...
Jun 1, 2020 | Market Review and Outlook
-Darren Leavitt, CFA Financial Markets continued to rebound nicely in May as economies around the globe started to reopen. There were also constructive news headlines related to effective coronavirus therapies and positive data on some early-stage results for...
Jun 1, 2020 | IRA Blog
By Sarah Brenner, JD IRA Analyst More than 40 million Americans have filed for unemployment since the Corona virus pandemic hit in in the middle of March. With job loss can come questions of what to do with retirement savings such as your 401(k) plan. A rollover to an...
May 31, 2020 | Blog, Financial Services Newsletter, New Weekly Newsletter, Weekly Article, Weekly Newsletter
KEY POINTS About half of Americans retired earlier than they expected, according to a recent survey. Less control over your retirement date could become more prevalent in a post-coronavirus economy. Based on your work prospects, you may retire either much earlier or...
May 29, 2020 | IRA Blog
Friday, May 29, 2020 The Setting Every Community Up for Retirement Enhancement (SECURE) Act single-handedly upended many long-standing retirement rules when it became effective on January 1, 2020. Shockingly, the SECURE Act was pushed to the back burner when all the...
May 28, 2020 | IRA Blog
By Sarah Brenner, JD IRA Analyst Question: Since no RMD in 2020 is required, what will the tax treatment be for QCD checks to charities written before the CARES Act became effective? Will 1099-R dollar amounts be included in AGI and charitable contributions only...
May 27, 2020 | IRA Blog
By Andy Ives, CFP®, AIF® IRA Analyst Gold members of a national hotel chain, big airline or just the local club expect lofty benefits for their dedicated patronage. Bronze members have access to A, B and C. Silver members have access to A, B, C, plus D, E and F. At...
May 27, 2020 | Weekly Market Commentarfy, Weekly Market Commentary
May 26th, 2020 Chadd Mason, CEO The Cabana Group What Investors Can learn from Today’s Market Equity markets worldwide continue to climb in the face of dire economics. In two decades of investing I have never seen a starker example of investors immediately...
May 26, 2020 | IRA Blog
By Ian Berger, JD IRA Analyst The Coronavirus Aid, Relief, and Economic Recovery (CARES) Act continues to cause confusion. In the April 22, 2020 Slott Report, we discussed four misconceptions surrounding the new law. In this article, we add one more: If your employer...
May 26, 2020 | Blog, Financial Services Newsletter, New Weekly Newsletter, Weekly Article, Weekly Newsletter
As a licensed fiduciary for over 15 years and spending most of that time with retirees, I’ve heard the same desires and concerns repeatedly: They want a retirement product that will offer them safety, income, and growth. My clients fear a repeat of 2000 or 2008, are...
May 21, 2020 | IRA Blog
By Andy Ives, CFP®, AIF® IRA Analyst Question: Hi, My question is: Does the SECURE Act affect inheritors of a Roth IRA account? If so, in what way, and why – since it is not a pre-tax account? I look forward to your reply. Thanks. Regards, Vikram Answer:...
May 20, 2020 | IRA Blog
By Sarah Brenner, JD IRA Analyst With markets down, many IRA owners are thinking this may be the time for a Roth IRA conversion. Converting when account values are down can be a good bargain. You pay a tax bill on a lower balance now in exchange for potential tax-free...
May 19, 2020 | Weekly Market Commentarfy, Weekly Market Commentary
May 18th, 2020 Chadd Mason, CEO The Cabana Group Markets Closed Up Big Today Amid Positive Coronavirus Vaccine Results The past week saw continued volatility as equities sold off Monday, Tuesday and Wednesday just below the 200-day moving average and right at the late...
May 18, 2020 | IRA Blog
By Andy Ives, CFP®, AIF® IRA Analyst The coronavirus-related distribution (CRD) rules for Roth conversions have a gaping hole. An “affected person” (as we have defined in previous blogs), is entitled under the CARES Act to withdraw up to $100,000 from their IRA or...
May 15, 2020 | Blog, Financial Services Newsletter, New Weekly Newsletter, Weekly Article, Weekly Newsletter
“Jobs Friday” is usually a nerdy day for financial types and economists only. But everyone was watching the most recent jobs report. I had a big drink and told my family to remember May 8. For labor economists, it will be a day to remember. For the first time, even...
May 14, 2020 | IRA Blog
By Ian Berger, JD IRA Analyst Question: Sir: The CARES Act includes a waiver of RMDs for this year from company savings plans and IRAs. I am in the minority of retirees that took my 2020 RMD in January 2020, withheld 20% for taxes and am now finding out that I...
May 13, 2020 | IRA Blog
By Andy Ives, CFP®, AIF® IRA Analyst The evil genie in the IRA lamp wants your money. He roars with laughter at the thought of you facing hard times. Given an opportunity, he will line the pockets of creditors with your IRA dollars, and he will serve your remaining...
May 11, 2020 | IRA Blog
By Sarah Brenner, JD IRA Analyst The recently passed CARES Act includes some changes that impact your HSA. These changes will allow you to access more medical services without worrying about your deductible, and also enable you to take more tax-free distributions from...
May 7, 2020 | IRA Blog
By Sarah Brenner, JD IRA Analyst Question: I have been taking my RMDs on a monthly basis in 2020. Since the Cares Act has suspended RMDs for 2020, I would like to rollover my past 2 distributions. I would like to aggregate those two distributions and roll them over. I...
May 7, 2020 | Blog, Financial Services Newsletter, New Weekly Newsletter, Weekly Article, Weekly Newsletter
By the time most of us reach retirement age, we feel as if we don’t have enough money to live the life we envisioned. Our feelings aren’t wrong: a 2019 analysis from the Employee Benefit Research Institute found that over 40% of American households in which the...
May 6, 2020 | IRA Blog
By Ian Berger, JD IRA Analyst Under the Coronavirus Aid, Relief, and Economic Security Act (the CARES Act), certain individuals can take up to $100,000 of distributions from IRAs and company plans during 2020 and receive special tax relief. Those distributions are...
May 5, 2020 | Blog, Financial Services Newsletter, New Weekly Newsletter, Weekly Article, Weekly Newsletter
May 4th, 2020 Chadd Mason, CEO The Cabana Group Can April’s Rally Continue, or is More Economic Disruption on the Horizon? Equity markets finished off April with the biggest monthly gain since 1974. The huge rally followed an even bigger decline in March....
May 4, 2020 | IRA Blog
By Ian Berger, JD IRA Analyst For a number of years, the “mega backdoor Roth” strategy has been touted as a way for employees to convert large amounts of after-tax employee contributions to Roth IRAs. Unfortunately, in most cases the strategy won’t work. Here’s why....
May 1, 2020 | Market Review and Outlook
April 2020 Market Review -Darren Leavitt, CFA Global markets continued to rebound in April as global governments and central banks added more stimulus to combat the economic slowdown caused by COVID-19. Developed markets outperformed emerging markets, and growth...
Apr 30, 2020 | Blog, Financial Services Newsletter, New Weekly Newsletter, Weekly Article, Weekly Newsletter
Here’s how the ongoing crisis could wreck your long-term plans — and what you can do to prevent that from happening. COVID-19 has turned the U.S. economy on its head, battering the stock market and forcing millions of workers into unemployment. But while...
Apr 30, 2020 | IRA Blog
By Andy Ives, CFP®, AIF® IRA Analyst Question: Dear Mr. Slott, I seem to have gotten myself into a jam with my 2020 RMD withdrawal and the CARES Act, as it stands now. Hoping you are able to help, or make a suggestion on how to proceed. In January, over three...
