URGENT call to action by 12/31 – new tax bill expands 529s As you may know, the U.S. Congress passed a tax reform bill that was signed into law by the President yesterday. Included in the law is a provision…
When an IRA needs to be split in a divorce it's best to use a trustee-to-trustee transfer between the spouses IRA and former-spouses IRA. IRAs are split in accordance with the divorce decree so make sure the decree specifies the…
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)…
Your first required distribution from an IRA or retirement plan is for the year you reach age 70½. However, you have some flexibility as to when you actually have to take this first-year distribution. You can take it during the…
When inheriting a traditional IRA in a non-spousal relationship, you have different options based on the age of the original account holder of the traditional IRA. If the account holder was under 70 1/2 you have three options: Life Expectancy Method:…
Yesterday, we closed our offices so our team could attend a one-day Charles Schwab conference. This conference offered us so much new and exciting information. Your experience with Chesapeake Financial Advisors and with Charles Schwab will improve greatly – now…
Retirement is one of the biggest experiences that you will have in your lifetime. The planning takes many years of hard work and persistence. The headaches and uncertainty can be reduced with homework, investment plan, and a long term commitment.…
Required minimum distributions, often referred to as RMDs or minimum required distributions, are amounts that the federal government requires you to withdraw annually from traditional IRAs and employer-sponsored retirement plans after you reach age 70½ (or, in some cases, after…
We put together this short presentation video as a reminder and overview of the three primary benefits of dollar-cost averaging. It is appropriate for investors considering or already utilizing a systematic investing plan, including retirement plan participants in a 401k…
On May 4, 2017, the House of Representatives passed the American Health Care Act (AHCA). With some changes, this is essentially the same law that was pulled from consideration by the House back in March. Compared to the Affordable Care…