Educational Videos
2020 Year End Tax Planning Strategies
- The huge impact that taxes have on your financial plan.
- What is tax-loss harvesting, and how it may help you this year!
- What the SECURE Act could potentially mean for your heirs.
- Year-end tax strategies to be considering
- Using Roth conversions to possibly offset future tax hikes.
Part I - What's Important To Know About Social Security Webinar
- History of Social Security:
- How it began
- Early Controversy
- How can you coordinate spousal benefits? (Three Opportunities to maximize benefits)
- How many people are receiving Social Security?
- Who receives Social Security?
- Longevity: What does this mean for your future as we live longer and longer?
- Important Terms & Definitions:
- Primary Insurance Amount (PIA)
- Full Retirement Age (FRA)
- Windfall Elimination Period (WEP)
Part II - What's Important To Know About Social Security
- 3 Stages & Strategy Options
- Deciding when is a good time to collect Social Security
- Strategy 1: Benefit Options for Couples
- Discuss and evaluate available options to determine when to file for benefits.
- Options: 3 Stages for filing
- Stage 1: Filing Early
- Stage 2: Full Retirement Age (FRA)
- Stage 3: Delayed Credits
- Strategy 2: Survivor Benefit Options
- Why do Survivor benefits work best if one spouse is expected to outlive the other.
- Some general rules to keep in mind
Should I Make A Roth IRA Conversion?
Current and Future Tax Brackets • Expected Income Sources • Types and Amounts in Different Investment Accounts • Time left until withdrawals needed • Comfort Level with Investment Risk
- If you asked this question, you’re really wondering if a Roth IRA Conversion will save you more in taxes?
- Mechanically, this strategy involves converting savings from pretax retirement accounts, such as 401(K) or a Traditional IRAs, to a tax-free Roth IRA.
- While this strategy can help you save tax, it involves analyzing multiple pieces as well as your timelines in your financial plan. To make the best decision requires an in-depth evaluation of your specific situation.