Did you miss your chance on a high-flying stock?[Richmond Refreshers]
FOMO in investing is real, and it can hit hard. You might hear about an individual stock soaring to new heights. Perhaps you keep seeing headlines about how some tech companies are making overnight millionaires. But is jumping on the latest trend really the key to success? Steve Kulchinski, MBA, Associate Financial Advisor, made a…
The Real Deal on Interest Rates & Market Trends [Matt’s Minutes October 2024]
Matt Curfman, CFP®, CEO & Co-Owner of Richmond Brothers, provides insightful economic updates and market trends, including discussions on inflation, the Federal Reserve’s decision to lower rates, geopolitical tensions, corporate growth, unemployment, and the upcoming elections. He also delves into the Smoother Ride investment strategies and their performance. Stay informed and gain valuable insights in…
Considering Gifting to Charity?
As we enter the holiday season, many are in the spirit of giving. A qualified charitable distribution, or QCD, is a solution many IRA owners age 70½ and older consider this time of year. (Yes, while the RMD age has gone up, this important half-birthday still brings this planning opportunity!) A QCD distributes funds directly…
Determining Tax on Roth IRA Distributions
When you opened your Roth IRA account, you may have assumed all distributions would always be tax-free. This, however, is a common misunderstanding that can leave you in a world of pain come tax season because there are certain circumstances where Roth IRA distributions can be subject to income tax. Roth IRA distributions can consist…
Lower interest rates. Now what?
The Federal Reserve recently voted to cut interest rates, shaving 0.5% off the benchmark .1 Markets rallied exuberantly at the news, reaching new highs.2 Why did the Federal Reserve cut rates? With inflation on a strong downward trajectory and concerns about economic weakness rising, the Fed clearly decided now was the right time to cut….
To convert or not convert? [Richmond Refreshers]
You’ve probably heard by now that a Roth IRA conversion is the process of moving IRA or employer plan assets to a Roth IRA. But what do you need to be aware of before you decide if this might be an option for you? Tune in to this 4-minute clip as Dan Vredeveld, CFP, Senior…
Leaving a Legacy: Life Insurance vs. Roth IRAs
Knowing your loved ones have financial support upon your passing helps provide peace of mind. With this in mind, many people use life insurance policies and Roth IRAs to provide income to loved ones and to leave an inheritance. Although both are effective wealth transfer tools, there are several differences between the two, especially in…
What you should know about interest rates [Richmond Refreshers]
Learn more about the downstream effect on your portfolio and wealth from our Associate Financial Advisor, Steve Kulchinski, MBA. No time to watch? You can read the “closed captions” here. Sources Content prepared by Snappy Kraken. Richmond Brothers, Inc. is an SEC-Registered Investment Adviser. This material is intended to provide general information to help you…
Protect Your IRA from Prohibited Transactions and Penalties
Are you aware of what constitutes a prohibited transaction as an IRA owner? Anytime an account owner uses IRA assets in a self-serving or self-dealing manner that improperly benefits them, they are conducting a prohibited transaction. Making one of these moves with your IRA can result in massive taxation and penalties. But how do you…
Roth IRA Conversions – Dispelling the Opportunity Cost Argument
The opportunity cost argument surrounding Roth conversions suggests that an opportunity is lost by paying the conversion tax upfront instead of investing it. This argument claims that investors lose future earnings that the funds could have produced. Download “Roth Conversions – Dispelling the Opportunity Cost Argument” for our argument dispelling this belief. There is no…
Let’s Get Started
Fill out the form below to schedule your one-on-one meeting with Richmond Brothers. During this meeting, we’ll aim to get to know who you are and what you want out of retirement.
