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…
Navigating Financial Opportunities [Matt’s Minutes September 2024]
Matt Curfman, CFP®, CEO & Co-Owner of Richmond Brothers, gives an overview of the financial landscape this past August, including market challenges and opportunities, the impact of upcoming Federal Reserve decisions on interest rates and potential investment implications. If you need strategies for managing market volatility make sure to listen in! 0:06 Oliver Austin “Curefman”0:35…
New RMD Rules Are Here – Part 2 [Richmond Refreshers]
Did you know they are still making changes from laws set back in 2020? Associate Financial Advisor, Steve Kulchinski, MBA, covers some more of the Secure Act and Secure Act 2.0 updated changes you may need to be aware of as a follow up to last week’s video, including spousal beneficiaries and trustees. No time…
New RMD Rules Are Here – Part 1 [Richmond Refreshers]
Did you know they are still making changes from laws set back in 2020? Senior Financial Advisor, Dan Vredeveld, CFP, covers some of the Secure Act and Secure Act 2.0 updated changes you may need to be aware of. Richmond Brothers, Inc. is an SEC-Registered Investment Adviser. Advisory services are only offered to clients or…
Is the sky falling?
We’re sure you saw the headlines. After hitting new highs last month, markets experienced a significant decline, erasing months of gains.1 It may feel like the sky is falling. For those of our client family who have implemented the Smoother Rider strategies, you already have “safety nets” or added protection to this extreme volatility. For…
Roth IRAs versus 529 Plans
Back-to-school season is upon us, which serves as a great reminder to consider how you can help your children or grandchildren fund their higher education. There are two popular options: a 529 plan or a Roth IRA. 529 plans are a well-known option designedspecifically for this purpose. Distributions from a 529 plan can be used…
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