Weekly Notables

from the Desk of Brian Bickett, CFP®

for the Week of October 23, 2019

ROTH Conversions…

This week’s tax planning article covers three strategies that can be used to lower lifetime and, in some cases, generational taxes.  One of the strategies on the list is ROTH conversions which work amazingly well for folks in the right situation.

Strategic ROTH conversions can be used to transfer retirement savings from tax-deferred to tax-free accounts while locking in the taxes paid on the amount transferred at current income tax rates.  Filling the current income tax bracket with ROTH conversions can lessen the tax hit once Required Minimum Distributions (RMD’s) accelerate income into a higher tax bracket.

While strategic ROTH conversions can significantly reduce expected lifetime taxes for those in the right situation, most using the financial adviser title shy away from the detailed analysis and specific recommendations because it steps into providing tax advice and/or the firm they work for won’t allow them to do it for liability concerns. 

As an independent, fee-only Certified Financial Planner™ professional, providing client recommendations and analysis on the size and timing of tax planning strategies such as strategic ROTH conversions is a common occurrence.

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— Brian

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Brian can help you develop a roadmap to get you from where you are to where you want to go — and then put it in action, making your money work for you to avoid behavioral mistakes.

A Eulogy for the 60/40 Portfolio

(Ben Carlson, WealthofCommonSense) – This investment article is a eulogy of the 60/40 portfolio in response to Bank of America’s October 16th declaration of “the end of the 60-40” standard portfolio.  Ben provides an excellent recap of the 60/40 portfolio’s life over the past 91 years and points out that this by far isn’t the first time it has been declared dead.  

Three Big Mistakes to avoid during Medicare Open Enrollment

(Sarah O’Brien, CNBC) – This week’s personal finance article details three common mistakes made by current Medicare participants.  The article also covers the four changes that can be made during the open enrollment period. 

Three Tax Planning Moves

(Bill Bischoff, MarketWatch) – This tax planning article explores three strategies that, in the right circumstances, can reduce either lifetime or generational income taxes.  One of my favorite tax planning strategies, ROTH conversions, shows up on the list.  The article points out how the tax laws around ROTH conversions has changed in recent years.

Where’s Brian?

Fine-tuning the quarterly newsletter…

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