Future assumed income tax brackets are a major consideration when making current decisions, such as the decision to convert a traditional retirement plan to a Roth plan and often, the assumptions we make are too low. When making assumptions about your future tax bracket, there are a few factors that often get overlooked. Below are […]
Convert! Oh, Ye of Little Faith: Roth Conversions are Underutilized
By James B. Twining, CFP® and Tor Benson, CFP® The decision to make a Roth conversion can be extremely impactful, warranting thorough, professional analysis with consideration of all pertinent factors. If current and future assumed tax rates are equal, a Roth conversion is often assumed to be neither beneficial nor detrimental. Appendix A illustrates a […]
Q1 2023 Newsletter
More new faces at Financial Plan and other happenings in this first quarter of 2023. Read the newsletter here.
The SECURE ACT 2.0: Three Good features
On December 29th, 2022, the SECURE 2.0 ACT was signed into law. It includes a few provisions that are beneficial for taxpayers. I have outlined three of them here: New IRA Required Minimum Distribution (RMD) Age The act raises the age at which RMDs are required to age 73 (previously 72). For taxpayers who were […]
How Will Taxes Change in 2023? Brackets, Deductions, and More
With the holiday season behind us, it’s time to look forward to everyone’s other favorite season…tax season, which has experienced some changes in 2023. Our newly updated, proprietary guide called Numbers Unlimited is a great place to start as you embark on your yearly tax planning. Below is a brief recap of some main changes […]
Q4 Newsletter for 2022
For a bit news and a smidge of advice from FP inc., check out our newsletter for Q4 2022
Recency Bias in Investing
As I watched footage of hurricane Ian wreaking havoc on the Florida coast, my four-year-old daughter asked what was going on. I gave her a brief explanation about what a hurricane is and was sure to include the point that, fortunately, they aren’t something that happens in our area. Later that day, however, when we […]
How to survive a zombie apocalypse
For over a decade, a dramatic television series called “The Walking Dead” has aired on AMC. The show follows an eclectic group of survivors as they navigate the perils of a zombie apocalypse. As time goes on, the ragtag team of unlikely heroes gains more experience in their new reality while their bag of tricks […]
Q3 2022 Newsletter
It’s been a busy summer at Financial Plan! View our quarterly newsletter for the details.
How Inflation Affects Asset Values
In 1980, the inflation rate peaked at 13.5%; higher than it had been in 60 years. The miserable economic conditions of 1980 caused by inflation are lodged into the collective American memory, and we have heard admonitions ever since that excessive money printing would result in the return of hyper- inflation. Those warnings turned out […]