Personal Finance is about more than having a well-allocated investment portfolio or savvy tax strategy. It's about people and their goals and dreams and the things that may keep them from getting where they'd like to go. It's about the value messages we send our children, the way we use or abuse money, it's about how we use our hard earned income to impact the world around us.
It's about psychology and social cues and managing risk. And it's as much a part of the fabric of our lives as health and family. There's no one-size-fits-all solution. And it's not just a matter of dollars and cents. I take a very personalized, consultative approach to each client's challenges, using a combination of sophisticated strategy and a down-to-earth, whole-life financial planning.
It's about psychology and social cues and managing risk. And it's as much a part of the fabric of our lives as health and family. There's no one-size-fits-all solution. And it's not just a matter of dollars and cents. I take a very personalized, consultative approach to each client's challenges, using a combination of sophisticated strategy and a down-to-earth, whole-life financial planning.
Services
Organizing and optimizing your personal finances can be an intimidating chore. There's so much to know and to do. And, with legislative and life changes, the goal posts seem to keep moving. Our professional advisors can help you clarify your goals and challenges and map out a flexible long-term strategy.
A significant percentage of Retirement Plan executives continue to be unaware of their role as fiduciaries. Retirement plan sponsors and participants alike want someone to help them navigate all of the ins and outs of managing their plan and the assets within them. They're seeking workable guidance on what needs to be done and how to do it.
A 401(k) plan is a self-directed, qualified retirement plan established by an employer to provide future retirement benefits for employees. Employee contributions are made on a pre-tax basis, and employer contributions are often tax deductible. If you have a Roth 401(k) option, contributions are made with after-tax dollars, but qualified distributions after age 59 are free of federal income tax.
The arena of employer-sponsored retirement plans has been dominated by 401(k) plans that are funded with pre-tax contributions, which effectively defers taxes until distributions begin. However, Roth 401(k) is funded with after-tax money just like a Roth IRA, allowing retirees to enjoy qualified tax-free distributions once they reach age 59 and have met the five-year holding requirement.
IRAs and employer-sponsored retirement plans are subject to annual contribution limits set by the federal government. The limits are adjusted periodically to compensate for inflation and increases in the cost of living. For tax year 2021, you can contribute up to $6,000 to all IRAs combined (the limit is adjusted annually for inflation) which is unchanged from 2020.
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