Medicare open enrollment begins
October 15, 2017

Changes during this time take effect
January 1, 2018.

Open enrollment concludes
December 7, 2017.

Avoiding 60-day Rollover Mistakes in 5 Easy Steps

Avoiding 60-Day IRA Rollover Mistakes in 5-easy steps

Are you considering rolling over your current retirement savings plan to a traditional or Roth IRA this year? With the many benefits that IRAs have to offer, this may seem like a great idea.But, if not done properly, you could be subject to some costly penalties and fees, as well as face the possibility of having to pay taxes on the entire amount this year!

One way to rollover funds to an IRA is through a “60-day rollover,” which is the distribution of funds from a qualifying retirement account to the account owner, who then has 60 days to redeposit the funds into another qualifying retirement account. With this approach to rollovers there is room for a number of errors. Find out how to avoid costly mistakes before you initiate any retirement account moves.  

 
Get “Avoiding 60-Day Rollover Mistakes in 5 Easy Steps” white paper now!  Simply fill out the request form below.

For professional assistance with your IRA rollovers, contact our office at 866-589-9366 to schedule a time to discuss.

Medicare open enrollment begins
October 15, 2017

Changes during this time take effect
January 1, 2018.

Open enrollment concludes
December 7, 2017.

Calculating Net Unrealized Appreciation NUA in 5 Easy Steps

Do you own company stock inside your 401(k) and are considering rolling it over to an IRA? Before doing so, be sure to consider to ask about Calculating Net Unrealized Appreciation (NUA) tax break that maybe available to you! 
This special tax break allows you to pay long-term capital gains rates on the growth of your shares versus ordinary income rates, which can create up to a 20% savings on your tax bill.

Free guide to Calculating Net Unrealized Appreciation NUA

Don’t miss this potential savings! Before rolling over your 401(k), fill out the form below to receive our white paper, “Calculating NUA in 5 Easy Steps.”
Have more questions about your qualified retirement accounts? We are here to help! Give us a call at 408-459-8383 to schedule time to discuss further.

Resources

Medicare open enrollment begins
October 15, 2017

Changes during this time take effect
January 1, 2018.

Open enrollment concludes
December 7, 2017.

Getting to the Zero Percent Tax Bracket

VIDEO: Getting to the Zero Percent Tax Bracket

In our engaging presentations we discuss how to get the zero percent tax bracket.  What strategies work and help you understand if these are appropriate for you.

Yes, you will be offered a chance to meet with me, one-on-one, to review your situation.  A second opinion is worth the investment of your time.

Consider reading this book review, which includes critical information on this very topic.

Medicare open enrollment begins
October 15, 2017

Changes during this time take effect
January 1, 2018.

Open enrollment concludes
December 7, 2017.

Historical CD rates

Historical CD Rates – With CD rates at all time lows – what options do you have?

CD rate Chart
CD rates history

If we can help you protect your retirement savings without buying an annuity – would you be interested?

The concept is being invested in a diverse portfolio that fits your risk profile.  To that we add our special portfolio monitoring system.

If your portfolio drops in value, crossing one of the thresholds – we pickup the phone and call you.

When you have been told something like, “you have to ride this out…” or “You’re in this for the long-haul.”  How did that feel?  Were you happy with the person making that comment?

How would it feel if we were to call you and say something like, “the value of the account has dropped.  We are looking at what the next step is… ”

A new way of managing your life savings.

Let’s talk and see if this is a fit for you, or not.

Medicare open enrollment begins
October 15, 2017

Changes during this time take effect
January 1, 2018.

Open enrollment concludes
December 7, 2017.

Financial Literacy Lunch & Learn

April is Financial Literacy month

Financial Literacy
You don’t have to hide from money…

To help our community and meet new people we are hosting Financial Literacy Lunch and Learn meetings.  These are slated for each Thursday in the month of April, 2016.  They courses are free to attend and require an RSVP to attend.

We recently realized something amazing to ask everyone, please ask yourself – if what I thought I knew about money wasn’t true, when would I want to know it wasn’t true?

With that question in mind and April’s being Financial Literacy month, we are hosting four seminars. The seminars will be held in our office on each Thursday from 11:30 – 1:00.  These are what we call “lunch & learn”.  For those who register we will provide a lite lunch.  You are invited to bring a friend, two or three with you.  Please register for each event listed below.

NOTE:

  • If you are unable to attend the event as scheduled, call me personally. I will see what we can work out.
  • Seating is limited, please RSVP and as you likely won’t be admitted without an RSVP.
  • These are complementary, we can charge, but that is not the point. Education is the point.

Social Security updates 2016:

RSVP here for Social Security Lunch & Learn

As you may have heard, certain Social Security “loopholes” have been closed.  This makes planning more complicated.  It has been said couples are leaving as much at $200,000 on the table in underutilized Social Security Benefits. Can you arrange your schedule to attend?

Questions we will answer during this lunch & learn:

  • Will these changes impact you
  • How do you keep these changes from impacting you, if possible
  • In light of the changes, what can you do, if anything, to maximize your benefits

RSVP here for Social Security Lunch & Learn

Getting to the zero percent tax bracket:

RSVP – Zero Percent Tax Bracket

First of all, what is the Zero percent tax bracket? When you or your tax preparer calculates your taxes each year – have you ever paid zero taxes?  The tax system has brackets based on your income.

Realize that when tax rates increase you will not be affected.  This is because 0% of any amount of money is still zero.

Questions about zero percent taxes we will address:

  • Is this even possible?
  • What strategies make sense?
  • What options or vehicles work have zero percent income tax?

RSVP – Zero Percent Tax Bracket

401k rollovers –rollover your 401k without penalties or taxes:

RSVP – 401k rollovers and other options

There are misconceptions about what you can and can’t do with your 401k. For starters, what is “Rolling Over?”

Rollover questions we will address:

  • Is Rolling over your 401k while you are working is possible?
  • Is rolling over your 401k appropriate for you? What other options exist instead of a 401k?

RSVP – 401k rollovers and other options

All about IRAs, well an hour’s worth

RSVP – IRA’s avoiding mistakes that can cost you dearly

When you have a retirement account, be it an IRA, 401k, Roth IRA, Roth 401k, 403b, etc., you have many options of how to manage and invest those life savings.  The often hidden issues are all related to the paperwork, such as the beneficiary forms.

Avoiding 5 common IRA & retirement account issues:

  • Beneficiary Mistakes
  • Naming a living trust as the beneficiary of your IRA/401k
  • Improperly inheriting an IRA/401k

RSVP – IRA’s avoiding mistakes that can cost you dearly

Medicare open enrollment begins
October 15, 2017

Changes during this time take effect
January 1, 2018.

Open enrollment concludes
December 7, 2017.

Advanced High Net Worth Planning

I really like reading other advisor’s posts regarding retirement planning and especially Advanced High Net Worth Planning strategies.

In this article the concept of PFIUL or premium financed indexed universal life insurance is being raised.  This concept is great when working with very high net worth clients.

Advanced High Net Worth Planning

The overall concept is to secure wealth inside of permanent life insurance products.  The reason to do such a thing is the tax advantages.   We are not using life insurance for the death benefit, we are using it for the living benefits.

What is called Cash Value.  Cash Value can be borrowed from a policy – tax free.  Income tax advantages are the reason to use this strategy.

This strategy can work with the average joe.  It can have advantages, yet the approach must be carefully considered.

High net worth clients can consider premium financing.  This means borrowing money to pay for the policy.  At some point the policy pays for the loan.

If you consider this path, you must locate an advisor you trust.  Pay careful attention to the cited interest rates.  Why?  Because ultimately you will be betting on the arbitrage to come out ahead.

Resources

http://financialadvisoriq.com/c/1267313/142143

 

Medicare open enrollment begins
October 15, 2017

Changes during this time take effect
January 1, 2018.

Open enrollment concludes
December 7, 2017.

Financial Planning for Millennials

Financial planning for Millennials – really?  I am not sure why the industry truly believes that this age group is so different than the one before or the two before or three before.

I came across an article with input on how Financial Advisors may attract Millennials.  Hmm!  Okay, the points in the article, in my opinion, would apply to most people.  There is one exception – technology.  The people, even our seniors, here in Silicon Valley are pretty good with technology.  I have met people across the country who believe they are not good with technology.  I would disagree.

Now the types of tools, strategies or products do vary by age and net worth.  I would not encourage a younger person to overfund their IRA/401k.  I would encourage a you alternative strategies the provide income tax free income.  Yes, of course, this is a curve from what most people are advising.  The curve is because I, as a fiduciary, believe in educating people about what fits them best.

Financial planning for Millennials

You may have heard if all you know how to do is swing a hammer, everything looks like a nail.  Look for an advisor who is both an Investment Advisor and a licensed insurance agent.   Why?  No more hitting everything with a hammer (insurance only or stock market only.

In this article, you will see how some of my ideas are counter to what the industry, or this author, thinks is best.  Especially comments like – “Stereotypical Millennials” – well, I agree, there is no such thing.  We are each unique.

Resources:

http://news.investors.com/management-leaders-and-success/010616-788360-how-financial-advisors-attract-millennials.htm?p=full

Medicare open enrollment begins
October 15, 2017

Changes during this time take effect
January 1, 2018.

Open enrollment concludes
December 7, 2017.

DOL Fiduciary standard

As an Investment Advisor Representative, I am proud that I operate under the fiduciary standard.  The DOL Fiduciary Standard that is being suggested for the most part won’t impact what we do for our clients.

What people, most people who have “financial planners” don’t realize is how this impacts their money.  There are two standards, well maybe three.  The fiduciary standard, the suitability standard and I’ve heard there is a separate standard for banks – I need to locate a cite for this.

The average person thinks they are working with an advisor or planner who is looking out for their best interest.  This is seldom the case.  Most advisors fall under the suitability standard.  This is pretty simple – does this product, mutual fund, insurance annuity meet the basic needs of the client?  If the answer is yes, you’re all set. Note: this product does not have to be in the best interest of the client, simply suitable.

The fiduciary standard is more like this, is this product in the best interest of the client?  If not, we don’t do the deal.

An offer for your consideration

We promote our business through offers of providing second opinions.  As you may have heard you can’t get a second opinion from where you got your first opinion.  Please consider our offer.

DOL Fiduciary Standard – Further reading

http://www.thinkadvisor.com/2015/12/28/how-dol-fiduciary-will-change-the-industry-and-car?page_all=1

http://www.thinkadvisor.com/2015/12/31/who-wins-who-loses-with-new-dol-rule-3-trillion-in?page_all=1

Medicare open enrollment begins
October 15, 2017

Changes during this time take effect
January 1, 2018.

Open enrollment concludes
December 7, 2017.

Ponzi Scheme case in San Diego

Onesta BrochureThe Securities and Exchange Commission (SEC) is responsible for regulation of Investment Advisers.  They have found a ponzi scheme case in San Diego that seems to have been stealing money.  They are accused of a “Ponzi Scheme.”

How can you tell if you are caught up in a Ponzi Scheme?  Great question that we all need to give consideration to.

Read the full Ponzi Scheme Case press release

You can read the SEC’s press release on this case here

We are here to help as best we can.

We do offer a four step process to create a viable second opinion.  If you would like to consider this we will waive the initial fee of $595 to qualified investors (investment assets over $500,000).

Read our Brochure here

Medicare open enrollment begins
October 15, 2017

Changes during this time take effect
January 1, 2018.

Open enrollment concludes
December 7, 2017.

Same-Sex Married Couples Essential Tax and Estate Planning to Protect Assets

Same-Sex Married Couples Essential Tax and Estate PlanningSame-Sex Married Couples Essential Tax and Estate Planning, Same Sex couples need to take important steps to protect assets and assess other potential risks.  Below is a partial list.  Be sure to check with your advisors.

Same-Sex Married Couples

  • Update all key legal documents to identify as a “spouse”
  • Check beneficiary forms on all plans and IRAs – primary and contingent beneficiaries
  • Check beneficiary forms for employer benefits, life insurance, annuities
  • Update wills and trusts – check provisions for children – guardians

Have proper documents for end of life decisions

  • Living Wills and Health Care Proxies
  • HIPAA Authorizations – The Health Insurance Portability and Accountability Act of 1996 (HIPAA) Privacy and Security Rules

Provides access to personal health information
Powers of Attorney should be updated

Beneficiary review is a must – and be sure to know what Per Stirpes and Per Capita mean
Spousal rollovers may be a better option for spouses who inherit after age 59 ½

Update online accounts

  • financial websites
  • email accounts
  • social media accounts
  • storage accounts such as those for documents, music or photos

Same-Sex Married Couples Essential Tax and Estate Planning

When you are ready to confirm you’re all set – consider giving us a call.  Our team will help you and your spouse.

Call our toll-free line and mention this posting – 866-589-9366.

Read more about us at OnestaWealth.com