When people find out how much tax they would have to pay to convert their IRA from traditional to Roth, it’s often times a conversion show stopper. Even if all the analysis shows that conversion would be clearly beneficial to their after-tax retirement income levels or provide estate planning … [Read more...]
Pink Slip Lemonade
As the economy begins its recovery but the job losses keep coming, many are finding the need to be creative with their careers and their financial situation. Last week, I had the pleasure of spending some time chatting with fellow Garrett Planning Network member Sherrill St. Germain, CFP®. … [Read more...]
October 2009 Newsletter
The October newsletter is now available. It includes a reminder about the October 15 deadline to recharacterize 2008 Roth IRA conversions, a market update, how to calculate your net worth and why net worth is the financial number to watch, and more. To read the newsletter, click here. … [Read more...]
Roth conversion as estate planning technique
The 2010 lifting of income limits for Roth IRA conversions creates a sizable opportunity to reduce estate taxes. We’ve already discussed Roth IRA conversion basics, and who might want to convert. But if your estate is potentially subject to the estate tax at your death, you have an additional … [Read more...]
Best Financial Planner Award
The Keller Citizen released their Best of the Best 2009 issue this morning, and I'm delighted to share that I was voted best financial planner in Keller by readers of the paper. Keener Financial Planning did not pay to receive the award, but we did have the opportunity to purchase advertising in … [Read more...]
Who should consider Roth conversion
Given the historic opportunity of 2010 to spread the tax payment over 2 years in 2011 and 2012, everyone with a traditional IRA should take at least one look at Roth IRA conversion for next year. It is most beneficial to you when all of these apply: You'll pay the resulting "conversion" tax … [Read more...]
Roth IRA Conversion Overview
Through 2009, converting an IRA from a traditional IRA to Roth is only available for those with household incomes under $100,000. Beginning next year, that changes. However, a lot of people aren't aware of the upcoming changes -- according to Financial Planning magazine, only 42% of advisor … [Read more...]
Free Financial Advice in Keller
Free financial advice will be available to residents of Keller, TX for Financial Planning Week October 5-12, 2009. Many individuals and families are facing financial challenges or uncertainty right now. Retirement plans are shifting. Investments are volatile. Jobs are less secure. And debt is a … [Read more...]
New Texas Teacher Long-Term Care Insurance Option
Beginning on September 1 this year, the new long-term care insurance provider for the Texas Teacher Retirement System (TRS) switched from Aetna to Genworth. During open enrollment from September 15 - November 15 this year, teachers will have the option to sign up for this insurance. If you're … [Read more...]
September 2009 Newsletter
The September 2009 newsletter is now available. It includes information on 2010 retirement plan contribution limits, health insurance protection for college students, KFP's new Dallas office, and more. To read it, click here. … [Read more...]