Insightful Articles & Education

Presidential Election, Volatility, and the Long View

Article written by Brian Bickett The presidential election is looming next week and, considering the many surprises 2020 has already brought us, the outcome of the election is shrouded with uncertainty, speculation, and angst.  Beyond how the election winner will...

CARES Act – Returning unwanted 2020 RMDs

Article written by Brian Bickett   One of the key provisions of the CARES Act, the coronavirus relief act that took effect this spring, permitted retirement account holders to bypass required minimum distributions (RMDs) for 2020. RMDs are the annual withdrawals...

Summary of the 2020 Social Security Trustees’ Report

The Social Security Board of Trustees released their annual report at the end of April once again this year.  The report for 2019 spans 276 pages that go into detail about the current financial status, future assumptions, and projections.  Once again…

The Elimination of ROTH IRA Recharacterizations

The Elimination of ROTH IRA Recharacterizations

The Elimination of ROTH IRA Recharacterizations   Article written by Brian Bickett The Tax Cuts and Jobs Act of 2017 eliminated the option to reverse (or recharacterize) ROTH IRA conversions.  This doesn’t mean that ROTH IRA conversions are dead.  The...

Summary of the 2018 Social Security Trustees’ Report

Summary of the 2018 Social Security Trustees’ Report

Summary of the 2018 Social Security Trustees' Report   Article written by Brian Bickett Every year in June, the Trustees for Social Security release their annual report for the previous year.  The 260 page report goes into great detail about the current...

Gift Taxes – Who pays on gifts above $14,000?

Gift Taxes – Who pays on gifts above $14,000?

Gift taxes is a subject that I get questions about on a fairly regular basis and the question itself implies some inaccurate information or misunderstanding around gift taxes.  It is generally posed by a parent trying to financially help one or more children or...

Retirement Plannining Case Studies

Case Study #1

Nearing Retirement

After accumulating wealth throughout the years, Dan and his wife Carol began thinking about retirement.

They currently hold a variety of investment accounts, including 401ks from different employers, stock options, an ESPP, and multiple brokerage accounts.

They have three adult children (one still in college) and two grandkids. Dan and Carol live modestly, own their home, and look forward to spending more time with family in retirement.

Case Study #2

Retired Without A Plan

Mark and Laura recently retired from rewarding careers and have lots of plans for the future.

They want to ensure that their retirement plan not only enables the lifestyle they have envisioned in retirement but that they have a plan to make sure they never run out of money.

Reducing taxes, improving investments, and creating a reliable income stream in retirement was their priority. 

Case Study #3

Recently or Unexpectedly Widowed

Susan loved her husband Robert so. She never thought there would be a day without him there to share more memories, let alone to help guide her through difficult and confusing financial decisions. 

After her period of mourning, she needed to be able to see and clearly understand all of her options, which removed a lot of her worries. She was able to move forward with their plans, confident in knowing that she would be well looked after.

(Note: These case studies are hypothetical, do not involve actual Iron Mountain Financial Planning clients, and should not be construed as a guarantee.)