If you converted a traditional IRA to a Roth IRA in 2017 and your Roth IRA has sustained losses, you may want to consider whether it makes sense to undo (recharacterize) your conversion. You have until October 15, 2018, to…
Social Security was originally intended to provide older Americans with continuing income after retirement. Today, though the scope of Social Security has been widened to include survivor, disability, and other benefits, retirement benefits are still the cornerstone of the program.…
After starting the year where we left off in 2017 with the S&P 500 rising more than 7% in January, the market finally met some volatility that we haven’t seen in several quarters. Inflation fears, higher interest rates, tariffs, privacy…
When you change jobs, you need to decide what to do with the money in your 401(k) plan. Should you leave it where it is, or take it with you? Should you roll the money over into an IRA or…
HAPPY VALENTINE’S DAY - to you and all of your loved ones from all of us at Chesapeake Financial Advisors. Celebrate and embrace your life; no one will care as much about your journey in life as you - so…
In December 2017, the Tax Cuts and Jobs Act, a sweeping $1.5 trillion tax-cut package, became law. College students and their parents dodged a major bullet with the legislation, as initial drafts of the bill included the elimination of Coverdell…
The beginning of the New Year brings increases to the contribution limits for 401k, 403b, and 457 plans. You can now contribute up to $18,500. This is an increase of $500 from 2017. Additionally, if you are over the age…
Student loan debt. Three words that strike fear into new graduates and parents everywhere. There are ways, however, to make the repayment of student loans more manageable. You may be surprised to learn that Income Driven Repayment Plans (IDR Plans)…
Schwab has streamlined the process of gaining web access to your accounts on Schwab Alliance without compromising online security. When you enroll for web access you can now choose to verify your identity via a phone call or text message…
There is a good chance if you have a credit report that you are among the over 100 million American consumers whose social security numbers, birth dates, driver's license numbers and addresses were compromised during the data breach at Equifax,…