Why I Don’t Like an Annuity in an IRA financial planning for attorneys financial planning for entrepreneurs financial planning for retirement Mar 30, 2020

by Jonathan G. Cameron, CFP®

To me an annuity in an IRA is usually a dead giveaway that the client worked with a salesperson and not a financial planner.

Annuities, like any other tool, are not inherently bad. They work best when they do the job they were designed to do – and that job...

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The Advice Industry, Part II financial planning for attorneys financial planning for entrepreneurs financial planning for retirement financial planning for young professionals Mar 27, 2020

By Glenn J. Downing, MBA, CFP®

A lot has happened in our regulatory world since I posted the original blog piece, The Advice Industry. The DOL rule is void. The SEC is now working on final new rules for standards of client care.  

The government regulates this industry –...

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What’s it Like Working with a Financial Planner? financial planning for attorneys financial planning for entrepreneurs financial planning for retirement financial planning for young professionals Mar 20, 2020

by Glenn J. Downing, MBA, CFP®

I know many people reading this blog post have never engaged a professional financial planner before, and may be a bit anxious about what to expect. So let me tell you all about working with a financial planner at CameronDowning.

The First Meeting is Always...

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The Difference Between Disability Insurance Coverage & Long Term Care financial planning for attorneys financial planning for entrepreneurs financial planning for retirement financial planning for young professionals Mar 18, 2020

by Jonathan G. Cameron, CFP®

Although there are many similarities these are two very different kinds of insurance. Disability insurance coverage protects wages lost due to an illness or accident. In contrast, long term care insurance is designed to help cover costs of health care services....

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Roth IRAs financial planning for attorneys financial planning for entrepreneurs financial planning for retirement financial planning for young professionals Mar 17, 2020

By Jonathan G. Cameron, CFP® 

What is a Roth IRA?

One of the most popular ways to save for retirement is in a Roth Individual Retirement Account, or a Roth IRA. Roth IRAs first came out in 1997 after being championed by former Senator William V. Roth of Delaware. Tax-wise, a Roth IRA is...

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Roth Conversions financial planning for attorneys financial planning for entrepreneurs financial planning for retirement Mar 09, 2020

by Jonathan G. Cameron, CFP® 

A Roth conversion means taking your Traditional IRA, or some portion of it, and turning it into a Roth IRA.  Whatever dollars are converted become taxable to you right then and there.  

Who should consider a Roth conversion?

In a previous post...

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Ordinary Income Taxation vs. Capital Gains Taxation financial planning for attorneys financial planning for entrepreneurs financial planning for retirement Mar 05, 2020

by Glenn J. Downing, MBA, CFP®

In this post I’m tackling a tax topic: The difference between ordinary income taxation and capital gains taxation. What’s the difference and why is it important to know? One word: taxes.

The IRS taxes your income, as you know, but it also taxes...

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Step Up in Basis financial planning for retirement Mar 03, 2020

by Glenn Downing, MBA, CFP® 

 In a previous entry I discussed the difference in taxation of capital gains property vs. ordinary income property. That piece discussed what happens on your form 1040.  This piece looks ahead to your eventual mortality.  What happens when you...

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What Do Your Mattress and a Roulette Table Have in Common? (HINT: more than you think.) financial planning for attorneys financial planning for entrepreneurs financial planning for retirement Feb 28, 2020

By Glenn J. Downing, MBA, CFP®

With this blog post I’d like to share some thoughts about investment risk tolerance.

Generally, we think about risk as a bad thing – something we want to avoid. “I won’t drive faster and risk a speeding ticket”, and, “No,...

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Top Five Mistakes People Make With Their Money financial planning for attorneys financial planning for entrepreneurs financial planning for retirement financial planning for young professionals Feb 25, 2020

By Glenn J. Downing, MBA, CFP®

Channeling David Letterman and all those Top Ten lists. I thought it might be fun to compile one of my own. To wit:

The Top Five Mistakes People Make With Their Money

This is a list compiled after about 25 years of experience. 

Mistake #5

You eat out way...

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You Want to Retire. But Retire to What? financial planning for attorneys financial planning for retirement Feb 23, 2020

By Glenn J. Downing, MBA, CFP®

Picture the scene: My wife has a group of friends visiting. I come home from work, greet everyone, and have a glass of wine to be sociable. At some point I announce that I’ll retire to my study for the evening. What does that verb mean – to retire?...

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The Time Value of Money financial planning for attorneys financial planning for entrepreneurs financial planning for retirement financial planning for young professionals Feb 22, 2020

By Glenn J. Downing, MBA, CFP®

We usually understand the time value of money in two contexts: the growth rate of an investment, and the inflation rate.   Nonetheless, the TVM is a topic that should be understood by everyone serious about financial planning.

Sketch Out a Timeline

To...

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