Tyler Conroy, CFP®, writes about the IRS waiving required minimum distributions in 2024 and shares a resource for individuals for whom this may apply.
2024 Required Minimum Distributions for IRA Beneficiaries Waived Again by IRS
Wealth Management Insights Second Quarter 2024: Planning for Our Children's Future
We present our second quarter 2024 issue of Wealth Management Insights titled “Planning for our Children’s Future.” In it, Samantha Pahlow, CTFA, AWMA®, discusses the crucial aspects to consider when planning for the distribution of assets for minor children. Scott Christianson, CFP®, writes about planning ahead for unanticipated outcomes in our estate plans and what we can do with estate planning to avoid major pitfalls and Charissa Anderson, CFP®, CDFA®, provides a considerations when saving for education and utilizing a 529 account.
Things to Know Around Tax Time
As April 15 draws closer, individuals across the country are filing their tax returns, some of whom are anxiously awaiting the results.
Double Your Savings With a Spousal IRA
Maximizing retirement savings is an important goal for many couples. While there are a variety of tax-advantaged accounts that allow individuals to save for retirement, most are only available to those with earned income during the year.
2024 Key Numbers Related to Wealth Planning
As we move into the new year, we want to provide you with the latest 2024 Annual Limits Guide from the College for Financial Planning® . This guide contains many of the important financial and tax planning numbers that may apply to you in the year ahead. Staying up-to-date and proactive with these figures can help you maximize your financial opportunities and make informed decisions throughout the year.
Do I Need to Sell My Investment?
In the 1950’s Harry Markowitz published his article “Portfolio Selection” which set the framework for what he dubbed Modern Portfolio Theory (MPT). This theory became so widely adopted that Markowitz was awarded the Nobel Prize in Economics in 1989. A basic tenant of the investment philosophy outlined by MPT says that diversification of portfolios reduces the volatility of the portfolio, which in turn can improve investment performance over multiple market cycles.
Wealth Management Insights: The Value of Planning
Hitting the Essentials Before Year-End
As the year draws to a close, it’s good practice to take stock of your financial situation, finish any important financial transactions by the end of the year and begin to look ahead to the next one. It can be helpful to refresh yourself on some of the key numbers related to year-end tax planning and take a peek at how they will change next year so that you can tackle any final items for 2023 and begin to plan for 2024.
Congratulations on the Newest Member of Your Family
With the addition of a new family member, we are often asked what further steps should be taken, and what should be done to prepare. In the same way you prepare the nursery or child’s room, there are financial considerations worthy of attention.
Ferguson Wellman 73 on Barron’s Top 100 RIA Firms List for 2023
Ferguson Wellman Capital Management was listed 73 out of 100 in the U.S. on Barron’s* annual “2023 Top 100 RIA Firms” list and in The Wall Street Journal.* Ferguson Wellman is the only registered investment advisory (RIA) firm recognized in Oregon.
Wealth Management Insights Forum: Impactful Planning through Life's Phases
We present the recording of the “Wealth Management Insights Forum: Impactful Planning through Life’s Phases.”
Staying Organized: Managing an Efficient Relationship with Your Tax Professional
With a complex and ever-changing tax and financial landscape, individuals and businesses rely heavily on the expertise of tax professionals, including Certified Public Accountants and Enrolled Agents, to manage their financial affairs, ensure compliance with tax laws and make informed financial decisions.
Fourth Quarter 2023 Wealth Management Insights: Gifting IRA Funds to Charity and Other Smart Philanthropic and Tax Strategies
Presenting the fourth quarter 2023 publication of Wealth Management Insights titled, “Gifting IRA Funds to Charity and Other Smart Philanthropic Strategies.”
Medicare and Open Enrollment Season
With summer winding down and fall ramping up, many households are looking towards a change in the seasons and fall activities. For those older than age 65 and on Medicare, an annual review of medical insurance coverage may reduce medical costs over time.
Building Healthy Money Habits for Kids
According to a 2013 study from the University of Cambridge, money habits are formed from 0 to 7 years of age, and once the habits are formed, it can be difficult to change that behavior later in life. Despite the results of this study, there is never a wrong time to teach your child about healthy money habits. Below are tips to help kids learn about money at a young age.
Will Social Security Be There for Me?
There has been a lot of commotion and misconceptions, in media and political settings, about the health of Social Security. As such, we want to help make sense of the claims about Social Security by shedding some light on our current system, its solvency and its potential future.
Third Quarter 2023 Wealth Management Insights: An Empowered and Secure Retirement
Presenting the third quarter 2023 publication of Wealth Management Insights titled, “An Empowered and Secure Retirement.”
2023 Mid-Year Update Video
In spring 2023, members of our team have hosted events throughout the Pacific and Inland Northwest. Following our “tour,” we created a video of our presentation for clients who missed an event or don’t reside in the Northwest.
The Swiss Army Knife of Tax-Advantaged Accounts
One of the most powerful savings vehicles for health care costs is the Health Savings Account (HSA), a type of savings account that lets you set aside money on a pretax basis to pay for healthcare expenses. Funds in an HSA grow tax-deferred and come out tax free when used for qualified medical expenses such as Medicare Part B and D premiums, vision and dental care expenses and qualified long-term care insurance premiums up to certain limits.
Solutions for Excess Funds in a 529 Education Savings Plan
We recently wrote about strategies for funding education needs in our wealth management Insights Newsletter. Occasionally, we learn that a client has successfully saved and built wealth for education inside a tax-advantaged 529 education savings plan, only to find themselves with funds left over. Luckily, there is good news – your savings aren’t trapped. There are several options for transferring or withdrawing funds from a 529 plan when they are no longer needed for the current beneficiary’s education.