Joe Bloodgood's Articles

Accumulation vs. Distribution: The Give and Take of Retirement

When you meet with your financial advisor, most of your conversation centers around accumulating wealth and preparing for retirement. During your conversation, you may hear these two terms: Accumulation Phase and Distribution Phase. While these concepts are relatively easy, you may not always make the connection between the two phases until your financial consultant lays it all out for you. The bottom line is this: How much wealth you build up during your working years (accumulation), will depend on how well you live during your retirement years (distribution).

What is Market Volatility?

Market volatility is a statistical measure of the tendency of a market or security to rise or fall sharply within a short period of time. It is typically measured by the standard deviation of the return of an investment. Standard deviation is a statistical concept that denotes the amount of variation or deviation that might be expected.

Are Your Employee Benefits Going to Last Through Retirement?

Your 401(k) or social security may not be enough to provide you sufficient retirement. You may want to explore other retirement options such as a Roth IRA, HSA, or brokerage account.

Millennials: Here’s Your Guide to Retirement Essentials

If you are a millennial, you’re in a perfect position to start planning for your retirement. The sooner you start, the more opportunity you have to build wealth and position yourself for a comfortable (and possibly early) retirement. You’ll also be among the 72% of your generation who have already begun saving. The key to creating a secure retirement is maximizing your return on investment (ROI) over time.

The Benefits of the Catch-Up Retirement Plan after TCJA

Catch-up contributions are contributions made beyond the annual limits to certain retirement accounts. These catch-up contributions should help taxpayers who did not save enough in the past to meet the differences by catching up with higher contributions. There are certain benefits to taking advantage of the catch-up retirement plan in 2019 after changes put into place by the Tax Cuts and Job Act (TCJA). Contact our experienced financial planners if you would like more information about setting aside more savings this year.

New TCJA Rules for Roth Conversion

You will not be able to covert your 2018 Roth IRA like in the past, but as of right now, 2017 IRA conversions are still eligible. The Tax Cuts and Jobs Act (TCJA) has had far reaching effects across the board, and Roth IRA conversions are no exception.

Did You Know There is a Way to Accelerate Your Retirement Savings?

Not everyone can contribute as much as they would like to their retirement plans each year, for a variety of reasons. However, it is vital that the maximum amount possible is deposited each year, because the earlier you save, the more it can grow before the date of retirement. There are options to accelerate retirement savings for those who may be behind and closer to retirement age.

You Have One Month to Boost Your 401(k) Contribution

Days go by slowly, and years go by fast. It may seem like a lifetime between now and retirement, or maybe it is a goal within this decade. Either way, a vital step to make sure that your financial plans come to fruition and in reducing taxes is to contribute the maximum amount to a tax-advantaged retirement plan. Don’t worry if you have not reached your max so far—you still have time to contribute in 2017.

Changing Jobs? Keep Maximizing that 401(k)

Research shows our society is trending toward people switching jobs more frequently. One Bureau of Labor Statistics report from last year, for example, indicates baby boomers born between 1957 and 1964 worked 11.7 jobs between ages 18 and 48. What does that mean for the average retirement plan? Namely, workers may frequently have to decide where to place 401(k) funds after leaving each employer. Fortunately, with these guidelines, making smart choices about your financial future need not be difficult.