End-of-the-Year Money Moves

Posted by Creekmur Wealth Advisors on 12:00 PM on December 11, 2020

Here are some things you might consider before saying goodbye to 2020.

What has changed for you in 2020? For many, this year has been as complicated as learning a new dance. Did you start a new job or leave a job behind? That’s one step. Did you retire? There’s another step. Did you start a family? That’s practically a pirouette. If notable changes occurred in your personal or professional life, then you may want to review your finances before this year ends and 2021 begins. Proving that you have all of the right moves in 2020 might put you in a better position to tango with 2021.

Even if your 2020 has been relatively uneventful, the end of the year is still a good time to get cracking and see where you can manage your overall personal finances.

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Topics: Financial Planning, Investing, Tax Benefits

Speed Bumps & Headlines

Posted by Creekmur Wealth Advisors on 6:30 AM on November 26, 2020

Focus on your overall approach during times of short-term volatility.

As an investor, it can be tempting to get caught up in daily news headlines. Consider how news about the election and COVID-19 vaccines have moved the markets over the past several weeks. But having a financial strategy can help you ignore short-term volatility and focus on your long-term vision.

As you know, investing is a process based on your goals, time horizon, and risk tolerance. Interestingly enough, it’s also a process that may help you prepare for life’s financial challenges.

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Topics: Financial Planning, Investing, Investments and risk, market volatility

How do Presidential Elections Impact the Stock Market?

Posted by Creekmur Wealth Advisors on 9:00 AM on November 2, 2020

Over the past months much has been said about how the presidential election might impact the stock market. Although we can't predict what will happen in this unexpected year, we can learn a lot from history.

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Topics: Tolerating Risk with Investments, Investing, Retirement, impact of presidential elections

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

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

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

Who Is Your Trusted Contact?

Posted by Creekmur Wealth Advisors on 1:58 PM on July 9, 2020

This vital investment account question should be answered sooner rather than later.

Investment firms have a client service requirement. They must ask you if you would like to provide the name and information of a trusted contact.1

You do not have to supply this information, but it is encouraged. The request is made with your best interest in mind – and to lower the risk of someone crooked attempting to make investment decisions on your behalf.1

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Topics: Financial Planning, Investing, Trusted Contact

A Roth IRA's Many Benefits

Posted by Creekmur Wealth Advisors on 1:28 PM on June 25, 2020

Why do so many people choose them over traditional IRAs?

The IRA that changed the whole retirement savings perspective. Since the Roth IRA was introduced in 1998, its popularity has soared. It has become a fixture in many retirement planning strategies because it offers savers so many potential advantages.

The key argument for going Roth can be summed up in a sentence: Paying taxes on your retirement contributions today may be better than paying taxes on your retirement savings tomorrow.

Think about it. Would you rather pay taxes today or wait 10 years and see where the tax rates end up? With that in question in mind, here are some of the potential benefits associated with opening and contributing to a Roth IRA.

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Topics: Financial Planning, Investing, IRA, Roth IRA

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