Each family has a unique set of desired financial goals, and we work with our clients to determine how they can achieve the outcomes they want for themselves and their children.
Community events like the Radnor Fall Festival are important to growing communities that are connected, active, and resilient. As local business owners we will remain steadfast in our commitment to advance these goals.
Social Security is taxed based on your income at the federal level. For an individual with income between $25,000 to $34,000, you may pay income tax on up to 50% of your benefits and up to 85% if your income is more than $34,000.
Once you are retired (age 59.5 or higher), you can withdraw your pre-tax 401k and IRA assets penalty-free. You will pay federal income tax on these withdrawals, but you will not pay Pennsylvania state income tax.
Generally speaking, if you retire before age 65, you must enroll in Medicare at age 65. If you are retiring after 65, you must enroll in Medicare at your retirement. Regardless, you want to avoid gaps in coverage or late enrollment penalties.
A Roth conversion is when you take pre-tax retirement assets (Traditional IRA, SEP IRA, SIMPLE IRA, 457, 403b, or 401k) and convert them into after-tax Roth IRA assets.
People want to work with an independent firm that works for them, not for the financial industry's profit. They want to know that their advisor works for their needs only as a fee-only fiduciary.
Individual Retirement Accounts (IRAs) are investment accounts that provide tax benefits to help individuals save for retirement. There are two main types of IRAs: Traditional IRAs and Roth IRAs.
A backdoor Roth IRA strategy can be particularly beneficial for high-income earners who are not eligible to contribute to a Traditional or Roth IRA due to IRS contribution limits but are looking to to maximize their yearly tax-advantaged retirement contributions.
A mega backdoor Roth is similar to a traditional backdoor Roth IRA, but it involves making after-tax contributions to a 401k plan rather than a traditional IRA.
Our team of fee-only fiduciary financial advisors are committed to improving the state of investment management in Pennsylvania by building trusted relationships with our clients and communities, utilizing index funds, and charging low fees.
Consolidating your retirement accounts in a personal IRA each time you change jobs can help reduce financial complexity over time.
While there may not be a "perfect" retirement account, there are multiple options available for savers/investors to build their assets for retirement.
We work with you to create a customized plan that focuses on budgeting, saving, and investing in a way that maximizes your potential wealth in the long run while minimizing short-term worry.
While extreme increases in wealth may fulfill economic needs, they don't necessarily lead to the psychological or behavioral changes that are helpful at any wealth level.
Unfortunately, it is not unusual for new clients in Pennsylvania to come to us with portfolios full of high-fee mutual funds, brokered stocks, annuities, and other costly investments.
While you can utilize any normal interest bearing bank account or taxable investment account, you may want to consider using a tax-advantaged 529 account for educational savings and investing.
Available for meetings in Rochester, VT and surrounding areas.
Available for meetings in Bennington, VT and surrounding areas.