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Roth conversion in 2020?
  • June 30, 2020/
  • Posted By : admin/
  • 0 comments /
  • Under : Retirement

Can you take advantage of 2020’s bear market to generate tax-free income through a Roth conversion?

You’ve probably heard that Roth IRAs are great for generating tax-free income and avoiding Required Minimum Distributions in retirement.

and…

2020’s market losses make it a good year to consider a conversion so you minimize the taxes you pay on the money you convert.

But the details matter a lot. And new laws mean conversions are permanent.

We made a short video showing you how to decide if you should consider a Roth conversion this year.

Check it out here!

WATCH NOW

 

If you’ve got a question or concern you’d like us to talk about in a future video, email info@nstarcapital.com and let us know! We’d love to hear your feedback.


Financial Order of Operations
  • June 24, 2020/
  • Posted By : admin/
  • 0 comments /
  • Under : Financial Planning

One of the pillars of financial success is doing the right things in the right order.  My informal term for this is F.O.O. — Financial Order of Operations.

That phrase may sound slightly cumbersome, but the conceptual framework is a life changer!

I’ve recorded this special video for you that lays out a roadmap for deploying your army of dollar bills.  Watch now to learn exactly what you should do with each successive dollar you have.

You can watch it here.

WATCH NOW


Following the F.O.O. will strengthen your financial success and allow you to live your best life.

If you have any questions about the particulars of your Financial Order of Operations, please don’t hesitate to reach out.

Thank you and be well,

Chris Mullis, Ph.D., CDFA®
Founding Partner

What Issues Should I Consider For My Aging Parents?
  • June 2, 2020/
  • Posted By : admin/
  • 0 comments /
  • Under : Financial Planning

Becoming a caregiver for aging parents can be a drain emotionally and can carry financial ramifications both for parents and for the caregiver children. Helping understand and manage the financial issues involved can make the situation a bit easier all.

In this guide, we cover a number of financial issues that you need to consider when faced with helping and potentially caring for aging parents, including:

  • Be sure you examine your parents’ finances to determine if they are able to manage their own expenses. There may be sources of income available to your parents of which they are unaware.
  • It’s important that you be sure you have access to their parents’ important documents such as any estate planning documents. You should have the names and contact information for any advisors your parents use such as an attorney, financial advisor or accountant.
  • If your parents need long-term care, they will need to investigate ways to cover the cost. Medicaid planning or a reverse mortgage might be options.
  • If the estate of your parents is over a certain amount, then they may have an estate tax issue. It’s also important for you to ensure that your parents’ beneficiary designations on insurance policies and retirement plans are up to date, and that they reflect their wishes.
  • It’s important for you to ensure that your parents’ tax situation is in order, managing any capital gains or losses, as well as fully utilizing any deductible medical expenses.
  • Overall, it’s helpful to stress the benefit of having a handle on all of your parents’ assets, liabilities and all related financial issues as a time may come when your parents are unable to manage their own affairs.

This is a comprehensive guide to the types of financial issues that you consider when helping your aging parents.

 


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FROM OUR BLOG
  • Taxes going up? (4-minute video) February 23, 2021
  • What makes you happy? February 17, 2021
  • GameStop + memes = tulips (and Sirens) February 2, 2021
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