Author Archives: Megan Russell

My daughter was employed at her first job, earned her first income, and was able to fund her Roth IRA for the first time.

Convert something today. Convert because the markets are down, or maybe convert just because you likely won’t regret it in 30 years when the markets will likely be up a lot more than they are now.

Now that we are in the midst of a bear market, investment returns are down 20% or more and Schwab’s personal value chart makes it look even worse.

As the stock market trends upward, this dip in market prices can be perceived as stocks being discounted and is likely a great time to buy low.

When family inheriting is not an option or you are not all that close with your relatives, sometimes it can be trickier to decide where to leave your estate.

The given numbers on a 1099-R are insufficient to be able to fill out your tax return correctly. Knowledge of what was actually done is required in order to file your taxes accurately.

The fact that you are worried enough to ask might mean that now is a good chance to take stock in your investment strategy.

Who will be responsible to pay for the taxes related to the distribution? Where do you report the taxable portion on your tax return?

A stability allocation has two purposes: to meet withdrawal needs and to move the portfolio more conservative (less risky) by dampening the volatility of stock returns.

The class will be held March 19 through April 2, 2020 each Thursday from 11:00 AM to 12:30 PM at Homewood Suites in the Albemarle Room.

Unfortunately, you must order cashiering envelopes directly from a Schwab agent. Here’s how you do it.

In 2019, several custodians switched to have no transaction fees for exchange-traded funds (ETFs).

For domestic tasks like babysitting there are often two options: independent contractor or household employee. Taking the time to educate yourself on the difference may be worth your while.

The IRS is clear, “If both spouses are 55 or older and not enrolled in Medicare, each spouse’s contribution limit is increased by the additional contribution. Each spouse must make the additional contribution to his or her own HSA.”

We adapt to the needs of our clients. However, absent other instruction, we do have a few intentions.

This person has an IRA balance, but is about to empty it with a reverse Rollover. So the question is one of timing: can they do the IRA Rollover before the nondeductible contribution so that their cream and coffee never mix?

To celebrate, David John Marotta and Courtney Fraser made guest appearances on a three different radio stations.

If you weren’t spending your money on useless treatment, you could enrich your life in other ways, retire earlier, or be richer.

One of the only articles on the Internet that clearly answers the question Can you fund your Roth with chore income? It’s just an added bonus for its readers that the answer is Yes.

We see ourselves as your primary care provider for finances and strive to become experts in every specialty that you need while accompanying you on any referral to another firm we need to make.

If you inherit a traditional IRA from a person who had a basis in the IRA because of nondeductible contributions, that basis remains with the IRA assets as they come into your ownership.

There is an incentive to lie when your methodology is bad.

We have a large distribution of clients at all portfolio sizes and, surprisingly, have all life stages near equally represented.

In all fields, the best methodologies are boring.

Four separate Schwab Tutorials made the top ten articles of 2019 with nearly 12K views each. Perhaps one day Schwab will write their own tutorials, but until then, I’m glad we can help so many people.

The selection of what products we purchase or avoid for clients is based solely on what we believe gives our clients the best chance to meet their goals.

Even if all four of these sentimental or pragmatic justifications are true, doing the wrong thing is still worse than doing nothing.

Luckily for the charitably-inclined individuals with nondeductible balances, QCDs are excluded from your Form 8606 taxable and nontaxable calculations.

The SECURE Act was merged into the 2020 budget bill which is now law.

There are several ways that I see my faith influence my work.

The thrift of taking care of your things is a wealthy mindset that pays off every year you don’t need to buy a replacement.

“It is, of course, hard to get people in any profession to do the right thing when they’re paid to do the wrong thing.”

The first lesson in learning how to spend is learning how to not.

Most professions do not know the exact day they were conceived. However, on December 12, 1969, financial planning was created and today in 2019, the profession turns 50 years old.

This 2018 article details some of our best gift ideas for some of the hardest people to shop for.

A wishlist is a force of thrift both for you to defer your consumption and for your family and friends to ensure that all the value of their gift makes it to your heart.

This 2016 article reminds us that “there is a very simple place to start the process of changing our destiny: Each day notice the things that make you happy and try experiencing more of them.”

There are several ways that a Roth conversion benefits people regardless of their filing or marriage status.

When my desires can endure the distance of a week, I buy it.

This 2014 article changed the way we enjoy our Thanksgiving turkeys. Turkeys have always been an interesting study for economics. Because of the consistency of their demand in America, the price of a Thanksgiving turkey can be used as an indicator of inflation. This article should give you something fun to discuss this year.

No matter how small your savings, those small changes have large effects over time.

It is easy to find yourself browsing the store when you spot a t-shirt with a phrase that you can hear your friend saying. Avoid making a purchase by taking a picture.

As the season of holiday shopping approaches, this 2018 article reminds us, “Before you throw your money at various companies, squirrel some savings away for your future self.”

This year was a good year for Roth loving folks like us.

Most of our regular use of items is habitual. Developing a mindset that uses less requires changing our habits.

As the proud mother of a now three-year-old daughter, I thought I’d record some of my and my firstborn’s favorite things from this past year as helpful ideas for gifts from grandparents.

Having a 401(k) plan with both pre- and post-tax balances is quite common, but mistakes are common as well.

Diversification among many different countries provides a more consistent return than investing entirely in the United States.

“After all this savings, I have about $3,000 per month left to save somewhere. Where should I save it?”

Your choices now change the course of your future in significant ways. “Into the Woods” is a cautionary reminder of that.