- Ask an Advisor: The S&P 500 Averages About 10.5% Per Year. Why Wouldn’t I Invest My Entire 401(k) in it?
Looking at long-term performance of the S&P 500, you might wonder why you wouldn’t just invest your entire 401(k) in it. The numbers are compelling: The index has averaged about 10.5% per year historically, and its returns in recent years have been even stronger. So, why not just “go all in?” Do you have a… read more…
- Ask an Advisor: How Can You Make Sure a Financial Advisor Is a Fiduciary?
A fiduciary makes a legal commitment to providing clients impartial and informed guidance on their money. One would hope that anyone holding themselves out to be a fiduciary is, in fact, meeting this standard. Unfortunately, it’s not as simple as financial advisor = fiduciary. Traditionally, “financial advisor” has been used to describe a range of… read more…
- Ask an Advisor: I’m 68 and Collect Survivor Benefits from Social Security. Can I Switch to My Own Benefit for More Money?
I’m 68 and currently receive spousal survivor Social Security benefits. Can I switch to my own Social Security benefit? –Sylvia Sylvia, I’m sorry to hear about your husband’s passing. Thank you for the question, and yes, you can switch to your own benefit. It would make sense to do that if your own benefit is… read more…
- Ask an Advisor: How Much Can I Safely Withdraw at Age 63? I Have $1 Million Plus $75k in Cash and Gold and a Small Pension
I am a 60-year-old male and I want to retire when I turn 63 and move to Colombia. My house will be paid off in one year and I plan on transferring the deed to my son. When I retire, I will have a $400-per-month pension, an estimated Social Security benefit of $2,700 per month,… read more…
- Ask an Advisor: Is It Smart to Convert My Retirement Savings Into Annuities to Satisfy My RMDs?
I’ve received letters from the thrift savings plan (TSP) and from my IRA holder that I am subject to RMDs this year. I’ve also been advised that converting these qualified funds to annuities and beginning distributions (which would then be completely taxable) satisfies the RMD requirements, which would then no longer apply. What are your… read more…
- Ask an Advisor: My Husband Doesn’t Have an Estate Plan. What Are the Problems That I Could Run into?
My husband does not have a living trust, nor am I on his bank accounts as a beneficiary. I’m also not on the title of our home that we have lived in for the past 30+ years. What are the repercussions that I may run into should he perish before me? All I have is… read more…
- Ask an Advisor: Is Home Equity an Asset Class for Retirement? More Than 50% of My Net Worth Is Tied Up in My Home
I’ve been hearing more and more about using home equity as an asset class for retirement planning. It now makes up more than 50% of my net worth, with no mortgage remaining. Please share your thoughts or strategies. – David Home equity can absolutely be an asset class to consider in your retirement plan. There… read more…
- Ask an Advisor: Is it Worth Doing a Roth Conversion in the Same Year that My RMDs Start?
I have to take RMDs this year. How do I decide if I should convert that money into an existing Roth? What needs to be considered? If so, how should it be done: at one time or in increments? I am considering incrementally over several years. – Ella In many cases, doing Roth conversions even after… read more…
- Ask an Advisor: How Do We Save for Retirement While Paying Our Bills? We Have $140K Saved, Plus My Husband’s $110K Pension
I am a 59-year-old human resource professional with $45,000 in a 401(k), to which I contribute 6%. My husband and I have $95,000 in the market, with $27,000 being in a Roth. My husband is a teacher and has $110,000 in his Kansas Public Employees Retirement System (KPERS) pension. We still have $40,000 to pay on our… read more…
- Ask an Advisor: I’ve Been Converting My IRA into a Roth for a Several Years. When Can I Withdraw Dividends Tax-Free?
I am retired but not yet 73. I have been doing Roth IRA conversions for a few years. I know you can’t withdraw the converted principal for a period of five years. My question is when I can access the on-going dividends that were generated from the converted stocks without paying a penalty? – Mayboline If you’re… read more…
- Ask an Advisor: I’m a ‘Late Starter’ With Just $17K Saved for Retirement at Age 44. What Should I Do?
I’m 44 years old but I’m a late starter in regard to thinking about my retirement. I have a little over $17,000 in my 401(k) and I would like to know what options would be best suited to get the maximum return considering my age and late start. I would also like to work with… read more…
- Ask an Advisor: We Give $8K Per Year to Charity from Our IRA. How Do We Report it to Avoid Taxes?
I’m 73, married and file my taxes jointly with my spouse. My IRA is in Vanguard mutual funds. We make about $8,000 annually in contributions to charities. I understand that direct contributions from an IRA to charities can reduce the amount of taxable RMDs. Do these contributions need to be direct wire transfers from Vanguard… read more…
- Ask an Advisor: We Only Have $150k in Savings but $78k in Social Security and a $650k Home. Can We Retire?
My wife and I are 66 years old. She retired at 62 and is already collecting Social Security. I plan to retire at the end of this year at 67. We only have approximately $150,000 in a 401(k) account together and we will get approximately $6,500 in Social Security per month when we retire. We… read more…
- Ask an Advisor: I’m Self-Employed and Make $100k. How Can I Save More for Retirement and Get the Largest Tax Deduction?
I’m self-employed and own a karate studio in California, which is an S corporation. I have two employees. I don’t have any kind of 401(k) or IRA set up, though I do have approximately $180,000 in U.S. Bonds. My challenge is that I make around $100,000 annually and have very few tax deductions since I… read more…
- Ask an Advisor: Does the 10-Year Rule Apply to the IRA I Inherited Years Ago?
I inherited an IRA from an aunt in 2009 and have been receiving the RMD each year since 2010. If the 10-year rule went into effect in 2019, how does it affect my inherited IRA from that point forward? Does that mean I have to draw it down to zero by 2029? If so, can any… read more…
- Ask an Advisor: Should I Start Itemizing My Taxes Now That Trump’s ‘Big Beautiful Bill’ Is Law?”
The Tax Cuts and Jobs Act of 2017 nearly doubled the standard deduction, leading about 90% of taxpayers to go this route instead of itemizing their deductions. You’re likely among them. But with the passage of the “One Big Beautiful Bill Act,” signed into law on July 4, 2025, you may be wondering whether it’s… read more…
- Ask an Advisor: Can I Take My Late Husband’s Social Security and Switch to My Benefit at 70?
I am a widow and plan to work until my full retirement age (FRA). However I was wondering if I could draw my late husband’s Social Security benefits at age 67 or 68 and then switch to my own at age 70? I am currently 61 years old and my salary is $150,000. I own… read more…
- Ask an Advisor: I Had to Pay Extra for Medicare Last Year. How Do I Avoid This Happening Again After a Roth Conversion?
I’ll reach my RMD distribution age in 2026, and I’m trying to figure out how much I can transfer from my traditional TSP account into an external Roth IRA in 2025 without exceeding the IRMAA threshold for Medicare Part B premiums. I had to pay a significant premium last year because I exceeded the threshold.… read more…
- Ask an Advisor: I’m 62 and Need ‘Reliable Income’ in Retirement. What Investments Do You Suggest?
I’m 62 and will be turning 63 next month. I’ve been self-employed for most of my career and currently own a home that I rent out. I’m now considering investing in another property to help strengthen my retirement plan. Since I don’t expect to receive much from Social Security, I’m looking for strategic and secure… read more…
- Ask an Advisor: I Have $1M in My IRA. How Much Will I Pay in Taxes When RMDs Begin?
I have $1 million in my IRA. Once I reach 73 years of age what are the withdrawal requirements? I retired five years ago with no income other than Social Security. What tax bracket will I be in when I begin withdrawing 4% of my IRA? – Clifford Once you reach age 73, you’ll need… read more…
- Ask an Advisor: I’m the Breadwinner But I’m 6 Years Younger Than My Wife. Does She Have to Wait Until I Hit FRA to Claim Spousal Benefits?
When can a spouse who is older than the primary breadwinner claim spousal benefits? My wife, who was born in 1956, is six years older than me. She claimed her Social Security benefits at 62, three years before her full retirement age (FRA). Her check is under $400 per month, as she hasn’t worked in… read more…
- Ask an Advisor: We Have $1.4M Saved for Retirement. Can We Afford to Spend $7k Per Month?
I turn 59 in September 2025 and I plan to retire at 62 with no debt. I have $1.2 million in a traditional IRA and $200,000 in a workplace Roth 401(k). I have an emergency cash fund in a high-yield savings account. I earn $320,000 per year and annually contribute $30,000 to the Roth 401(k), plus… read more…
- Ask an Advisor: I’m 62 With a $5,100 Monthly Pension and $100k in Annual Expenses. Should I Collect Social Security Now or Delay?
Should I collect Social Security now ($2,621 per month) or later? I’m 62 and my wife is 60. I retired in 2015 and my wife will retire in February 2026. I’m collecting a pension of $5,125 per month. My wife earns $50,000 per year and will collect a $300 monthly pension when she retires in… read more…
- Ask an Advisor: Do I Have to Take RMDs from the IRAs That I’m Inheriting from My Mother?
I inherited an IRA from my mother who was already taking RMDs when she passed away. Am I required to take RMDs from the inherited IRA, or does the IRA simply need to be depleted by 10 years from the date of inheritance? I don’t have any special needs or disabilities. Similarly, are RMDs required… read more…
- Advisor Advice: How Often Should I Follow Up With Prospects and How Should I Frame Those Conversations?
Written by Michael Collins, CFA® In today’s fast-paced world, getting the attention of potential clients isn’t easy, especially when connecting with someone over the phone. As you work to grow your client base, it’s not just about generating leads; it’s about making sure those leads actually respond and engage with you. Making monthly follow-ups with… read more…