Why Roth IRA Conversions May Now Be Advantageous

Posted by Creekmur Wealth Advisors on 10:42 AM on September 17, 2020

Thanks to a couple of factors, some investors are thinking about this move before 2020 ends.

Roth IRAs have attracted retirement savers since their introduction in 1998. They offer the potential for tax-free retirement income, provided Internal Revenue Service rules are followed.

Do Roth IRAs seem even more attractive these days? Perhaps. You can cite two factors: current tax rates and the passage of the Setting Every Community Up for Retirement Enhancement (SECURE) Act.

Roth IRAs differ from traditional IRAs. Typically, distributions from traditional IRAs must start once you reach age 72, and the money distributed is taxed as ordinary income. When distributions are taken before age 59½, 

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Topics: Investing, Retirement, Roth Conversions, Roth IRA

Dow 30 Changes Its Starting Lineup

Posted by Creekmur Wealth Advisors on 2:41 PM on September 10, 2020

What you should know about the change.

The Dow Jones Industrial Average (DJIA), one of the most widely followed stock market indices, has made some key changes to its starting lineup.

Salesforce.com, Amgen Inc., and Honeywell International Inc. have replaced Exxon Mobil Corp., Pfizer Inc., and Raytheon Technologies Corp. The change went into effect before the market opened on Monday, August 31.1

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Topics: Investing, Retirement, Stock Market

Frothy, Bubbly Stocks

Posted by Drew Creekmur, MSPFP on 5:01 PM on September 8, 2020

Frothy, Bubbly, Foamy. . . and we're not talking about cappuccino!

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Topics: Financial Planning, Investments, market volatility, Planning, Stock Market

Conquering Retirement Challenges for Women

Posted by Creekmur Wealth Advisors on 7:22 AM on September 3, 2020

Looking ahead can help you conquer these unique obstacles.

When it comes to retirement, some women face obstacles that can make saving for retirement a challenge. Women typically earn less than their male counterparts and often take time out of the workforce to care for children or other family members. Added to the fact that women typically live longer than men, retirement money for women may need to stretch even further.1

Despite these challenges, there are a lot of reasons to be hopeful.2

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Topics: Working Women, Financial Planning, Retirement

Get Your FAFSA Ready

Posted by Creekmur Wealth Advisors on 11:12 AM on August 27, 2020

The application window for federal student loans opens on October 1.

Mark this date on your calendar: October 1. That is the day when current and future traditional college students can start submitting the Free Application for Federal Student Aid (FAFSA) for the 2021-22 school year. For many students, the FAFSA is frequently the gateway to significant financial aid: federal and state student loans, grants, university scholarships, and work-study programs.1

FAFSAs should be sent in as soon as possible. The closer to “opening day” (October 1) you can do it, the better. Some states offer aid on a first-come, first-serve basis, and some universities set fall deadlines for financial aid requests.1,2

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Topics: College Planning, FAFSA

What Are Stock Splits?

Posted by Creekmur Wealth Advisors on 10:15 AM on August 20, 2020

Here’s what you need to know.

Two high-profile companies—Apple and Tesla—have announced stock splits in the past few weeks, which makes it a great time to discuss what’s involved when a company announces a stock split.

Remember, any companies mentioned are for illustrative purposes only. It should not be considered a solicitation for the purchase or sale of the securities. Any investment should be consistent with your objectives, timeframe, and risk tolerance.

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Topics: Investing, Stocks

How Much Money Will You Need for Retirement?

Posted by Creekmur Wealth Advisors on 7:15 AM on August 13, 2020

It depends on your goals, time horizon, and risk tolerance..

"Will I outlive my retirement money?" That's one of the top fears for people who are starting to prepare for their retirement years.

So I have to chuckle a bit when I see headlines that say, "Here's how much money Americans think they need to retire comfortably."1

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Topics: Financial Planning, Investing, Retirement

Is it Time to Buy? Thoughts on Investing in a Market Like This

Posted by Drew Creekmur, MSPFP on 9:00 AM on August 4, 2020

Markets are going CRAZY - should I invest?

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Topics: Financial Planning, Investments, Planning, saving and investing

Starting a Roth IRA for a Teen

Posted by Creekmur Wealth Advisors on 4:00 PM on July 30, 2020

This early financial decision could prove helpful over time.

Want to give your child or grandchild a great financial start? A Roth IRA might be a choice to consider. There are many reasons why starting a Roth IRA for a teenager may be a sound financial strategy. Read on to learn more about how doing this may benefit both of you.

Tax-free benefits during retirement. Setting up a Roth IRA for the teenager in your life could prime them to have more retirement savings. Plus, a Roth IRA has the potential to accumulate over the years, and the owner may be able to better manage their tax burden if they withdraw the money after age 59½.1

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Topics: Financial Planning, Investing, Leaving a Legacy, Roth IRA

Too Much Noise in the News?

Posted by Drew Creekmur, MSPFP on 1:55 PM on July 28, 2020

Cut through the noise with our Financial News Breakdown

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Topics: Financial Planning, Investments, Planning, saving and investing

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