Currently, 1 out of 4 Americans over age 65 count on Social Security (SS) for 90% or more of their income. And since an individual’s lifetime Social Security benefit can often total more than $1 million, it is worth considering variables that can alter this value. Beyond the obvious (make more money), individuals can delay
It’s More Than Money
What’s a 529 ABLE Account?
Achieving a Better Life Experience (ABLE) accounts are meant to provide tax savings when covering certain living expenses for people who are mentally or physically disabled prior to age 26. ABLE accounts began late in 2014 and have not yet become well known in the community or among many advisers I talk with. In an ABLE
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The materials and articles found here are the opinions of the authors. Information is not intended to provide specific advice or recommendations for any individual. You should consult with your professional regarding your situation. Although we conduct due diligence on the materials and information, Smith Partners Wealth Management may be unable to verify the content.
The Quarter In Charts – Q2 2018
Below are some pictures that help illustrate the current investment landscape. All of these charts show us where we’ve been, but none guarantees to show us what will happen in the future. Even though valuations tend to “revert to the mean” and certain data points can be leading indicators, nothing is guaranteed. In fact, that’s
Small Business Retirement Plans
One benefit to being a small business owner is access to more retirement accounts than the typical 401k, IRA, and Roth IRA. While there are many options the three most attractive are the SEP IRA, SIMPLE IRA and Solo 401k. These three plans provide business owners a way to save more while providing a valuable
Winning the Retirement Game: A Look at Risk and Return
Playing a 3,000 Year-Old Board Game in Front of 200 Million People I’m a sucker for board games and Netflix documentaries, so when I stumbled on AlphaGo, I was sucked in. It chronicles the story of how a research group, DeepMind, developed an Artificial Intelligence (AI) based computer program (AlphaGo) so advanced it took on
A Step by Step Guide to Having a Family Money Talk
If you’re not already there, it’ll happen to you soon. You’ll need to have a Family Money Talk. Maybe you’re in your 20s asking your parents how much they could pay for a wedding. Or you could be in your 40s talking to your kids about their college choices. Our most frequent case, the one
Annual Financial Checklist (May through August)
This is the second in our three part Annual Financial Checklist series. While not exhaustive, it will help you to continue to think proactively about stacking the odds for financial success in your favor. See our previous “January through April Checklist” for more ideas. May Look into College Scholarships: If you have a child in
How to Save $9 Million on a Legal Secretary’s Salary
Sylvia Bloom started in 1947 as a legal secretary and finished as a legal secretary, 67 years later Sylvia Bloom was born in Brooklyn in 1917, the daughter of Eastern European immigrants and a child of the 1929 Depression. She attended New York public schools and graduated from high school. She worked days to attend
4 Myths About Roth IRAs
“Is a Roth IRA right for me?” is a simple question with a complex answer. Even worse, myths and misconceptions surrounding Roth IRAs make them seem more complicated than they are. We’ll address the four most common rules covering withdrawals, contribution limits, home purchases, and taxes. Even if these rules don’t apply to you, it’s