There may never be a better time to open a Roth account Roth IRAs offer tax-free earnings growth and as Peter with Richon Planning explains to Erin Kennedy there are clear-cut reasons you should consider investing in a Roth today Today's Historically Low Tax Rate the Tax Cuts and Jobs Act which reduced federal income tax rates is set to sunset in Your Depreciated Portfolio pay taxes on a smaller value now then allow that future growth to happen tax free Possible Elimination of Backdoor Roths the Build Back Better Act proposed ending Backdoor Roths the loophole dodged the axe [... more]

It's a bit tough to keep up with all the changes that have come to Required Minimum Distributions or RMDs which started back in with the original SECURE Act However there are significant changes that went into effect January st of Peter with richonplanning and Erin Kennedy lay out and explain each change including The Starting Age Has Increased Again Lower Penalties if You Miss Taking your RMD Inherited Retirement Accounts accounts inherited before vs accounts inherited after Keep in mind you can correct an RMD mistake but it's best to avoid those missteps if possible which is why proactive [... more]

We're only a few years removed from the SECURE Act being passed which brought about significant retirement planning changes Now three years late Congress passed SECURE Act in late December and we have another round of changes to process and adjust to We'll cover these provisions over the course of multiple episodes but today we'll focus primarily on another adjustment to the age you have to begin taking required minimum distributions Starting this year the age will move from to which is pretty big news for people that are in their mid-to-late s Here's some of what you'll learn in [... more]

SECURE Act Later RMDs -to-Roth Rollovers and Other Tax Planning Opportunities Congress recently passed SECURE Act which will bring several changes to retirement account rules Peter Richon with Richon Planning and Erin Kennedy break down the big takeaways including some unique opportunities including -RMD Age Increase -QCDs Will Be Expanded - Plans These changes however will make proactive tax planning even more important Keep in mind when you delay those Required Minimum Distributions it will lead to larger account balances at death which could create a significant tax burden for your beneficiaries If you'd like to talk through these changes [... more]

If you're nearing the age to take Required Minimum Distributions or RMDs and you want to avoid the extra income and its tax implications Peter Richon with Richon Planning and Erin Kennedy break down three strategies to consider Peter recommends these strategies to help reduce your tax exposure Consider taking distributions as early as possible Roth Conversions Qualified Charitable Distributions or QCDs Keep in mind RMDs are income so taking those distributions can boost your taxable income and your income taxes for the year which is why strategic tax planning is so important If you have any questions about these [... more]

The end of the year is upon us so now is a great time to consider a Qualified Charitable Distribution or QCD As Peter with Richon Planning explains to Erin Kennedy this is a great way to make a large gift to your favorite non-profit while lessening your tax burden When structured correctly a QCD allows your donation to go directly from your IRA custodian to your chosen charity Not only can it be counted toward satisfying your required minimum distributions or rmds but it also decreases your adjusted gross income Richon Planning specializes in holistic tax planning If you'd [... more]

We are still firmly in Bear Market territory Stocks and bonds are sharply negative In fact the market recently lost nearly one quarter of its value since the beginning of the year But those negatives actually offer some unique opportunities according to Peter at RichonPlanning He breaks down several strategies with Erin Kennedy including Tax Loss Harvesting Rebalancing Avoiding Phantom Income Roth Conversions RMDs If you have any questions about how to employ some of these tax strategies please reach out to Peter for a complimentary consultation by calling - or by visiting www RichonPlanning com [... more]

Hans and Robby are back again this week with a brand new episode This week Hans and Robby discuss the update for inherited IRA's for the upcoming year Don't forget to get your copy of The Complete Cardinal Guide to Planning for and Living in Retirement on Amazon or on CardinalGuide com for free You can contact Hans and Cardinal by emailing hans cardinalguide com or calling - - Learn more at CardinalGuide com Find us on YouTube Cardinal Advisors [... more]

Hans and Robby are back again this week with a brand new episode So you're retired you've saved your money over the years now what do you do with it Hans and Robby are here to help you Don't forget to get your copy of The Complete Cardinal Guide to Planning for and Living in Retirement on Amazon or on CardinalGuide com for free You can contact Hans and Cardinal by emailing hans cardinalguide com or calling - - Learn more at CardinalGuide com Find us on YouTube Cardinal Advisors [... more]

Hans and Robby are back again this week with a brand new episode This week's show is all about the new regulations for with IRA beneficiaries as well as a discussion on the ten year rule Don't forget to get your copy of The Complete Cardinal Guide to Planning for and Living in Retirement on Amazon or on CardinalGuide com for free You can contact Hans and Cardinal by emailing hans cardinalguide com or calling - - Learn more at CardinalGuide com Find us on YouTube Cardinal Advisors [... more]

Have you decided yet on a vacation destination this summer If not you can still save money by choosing to go somewhere away from the crowds On today's MoneyWise Live Rob West will share how picking a vacation spot where other vacationers aren't flocking can be the key to staying on budget during your vacation See omnystudio com listener for privacy information [... more]

Finding the right work makes life a lot easier As the saying goes find a job you love and you'll never work a day in your life But how do you find that job On today's MoneyWise Live host Rob West will talk about how career assessments can help you decide which field of work is right for you Then he'll answer some calls financial calls from a biblical perspective See omnystudio com listener for privacy information [... more]

Hans and Robby are back again this week with a brand new episode This week's show is about taxes Hans and Robby has you covered when it comes to information and tips on the standard deduction for Don't forget to get your copy of The Complete Cardinal Guide to Planning for and Living in Retirement on Amazon or on CardinalGuide com for free You can contact Hans and Cardinal by emailing hans cardinalguide com or calling - - Learn more at CardinalGuide com Find us on YouTube Cardinal Advisors [... more]

Hans and Robby are back again this week with a brand new episode This week's show is all about what you can expect if you inherit an IRA What should you do first and what about the new tax laws Those questions and more will be answered so you've come to the right podcast Don't forget to get your copy of The Complete Cardinal Guide to Planning for and Living in Retirement on Amazon or on CardinalGuide com for free You can contact Hans and Cardinal by emailing hans cardinalguide com or calling - - Learn more at CardinalGuide com [... more]

If you're still deciding on what your financial New Year's resolutions will be for wouldn't a list of helpful suggestions come in handy On today's MoneyWise Live host Rob West will talk with Joseph Slife about your list of top financial moves for Then Rob will address some questions on various financial topics See omnystudio com listener for privacy information [... more]

With another year ending it's time to start thinking about your taxes So are there ways to minimize what you legally have to pay without cutting corners On today's MoneyWise Live host Rob West will share some year-end tax tips that will help you do just that Then he'll answer your financial questions from a biblical perspective See omnystudio com listener for privacy information [... more]

With quickly approaching Hans and Robby go over some need to know details about new RMD's and RMD Levels Don't forget to get your copy of The Complete Cardinal Guide to Planning for and Living in Retirement on Amazon or on CardinalGuide com for free You can contact Hans and Cardinal by emailing hans cardinalguide com or calling - - Learn more at CardinalGuide com Find us on YouTube Cardinal Advisors [... more]

Hans and Robby talk about charitable giving and how to map out a plan to maximize your donations Don't forget to get your copy of The Complete Cardinal Guide to Planning for and Living in Retirement on Amazon or on CardinalGuide com for free You can contact Hans and Cardinal by emailing hans cardinalguide com or calling - - Learn more at CardinalGuide com Find us on YouTube Cardinal Advisors [... more]

Begin with the end in mind Hans and Robby go over the difficult but necessary topic of life insurance for retirees Don't forget to get your copy of The Complete Cardinal Guide to Planning for and Living in Retirement on Amazon or on CardinalGuide com for free You can contact Hans and Cardinal by emailing hans cardinalguide com or calling - - Learn more at CardinalGuide com [... more]

We rsquo d all like to be more generous but sometimes that desire seems to be in conflict with our need to prepare for the time when we retire and can no longer work On the next MoneyWise Live host Rob West will talk about that with David Parsley of the National Christian Foundation Then Rob will address your questions on the financial topics you rsquo d like to discuss That rsquo s on MoneyWise Live where biblical wisdom meets today rsquo s finances mdash weekdays at pm Eastern pm Central on Moody Radio [... more]

Are you looking for a way to make some extra cash Or maybe you rsquo d just like to hang on to a few more of your hard-earned dollars Well with your computer or smart phone you can make or save money online often with little effort On the next MoneyWise Live hosts Rob West and Steve Moore tell you how ways to cash in online on the next MoneyWise Live at pm Eastern pm Central on Moody Radio [... more]

On this episode Peter Richon discusses the steps in moving from your working career to feeling fully prepared to make the transition to retirement Some of these steps are taken along the way some are absolutely necessary to be prepared Download the full list by visiting www RichOnPlanning com [... more]

You might not be familiar with I Bonds and the way they function as savings vehicles You may also be surprised to learn that unlike your savings account at your local or online bank these bonds are currently yielding quite a bit more interest On the next MoneyWise Live hosts Rob West and Steve Moore share some information on this savings strategy Then they rsquo ll take your calls and answer various financial questions Taking an interest in I Bonds on the next MoneyWise Live at pm Eastern pm Central on Moody Radio nbsp [... more]

At age the government makes you start making distributions from your IRA and k Hans goes over why you should think about required minimum withdrawals instead of required minimum distributions in your s and s Don't forget to get your copy of The Complete Cardinal Guide to Planning for and Living in Retirement on Amazon or on CardinalGuide com for free You can contact Hans and Cardinal by emailing hans cardinalguide com or calling - - Learn more at CardinalGuide com [... more]

Predictions are unreliable and often fail to come to fruition But that doesn rsquo t mean we don rsquo t like to make them So the trick is mdash getting them right On the next MoneyWise Live hosts Rob West and Steve Moore talk with someone who usually does get his financial predictions right mdash investing expert Bob Doll Then Rob and Steve answer your calls and questions on various financial topics It's predictions for on the next MoneyWise Live at pm Eastern pm Central on Moody Radio [... more]

The Secure Act made changes to your IRA contributions especially at ages and If you are at these ages or are coming up on them you are going to want a plan in place for your retirement savings Don't forget to get your copy of The Complete Cardinal Guide to Planning for and Living in Retirement on Amazon or on CardinalGuide com for free You can contact Hans and Cardinal by emailing hans cardinalguide com or calling - - Learn more at CardinalGuide com [... more]

If you rsquo ve been shopping online lately you rsquo ve probably seen a surge in ldquo buy now pay later rdquo offers nbsp But is it really a good idea to postpone payment and take advantage of these so-called deals On the next MoneyWise Live hosts Rob West and Steve Moore reveal the perils involved in this payment strategy Then they rsquo ll answer your calls and questions on various financial topics It's buy now pay a bunch later on the next MoneyWise Live at pm Eastern pm Central on Moody Radio [... more]

Weeks before Thanksgiving holiday commercials saturate the airwaves decorations go up in stores and the Christmas rush begins It rsquo s easy to get caught up in the frenzy and forget why we rsquo re celebrating this holiday On the next MoneyWise Live hosts Rob West and Steve Moore help us keep our perspective right and our focus on the birth of Christ this season That rsquo s MoneyWise Live at pm Eastern pm Central on Moody Radio nbsp [... more]

Hans Robby help us understand this sometimes confusing but very important topic Just another step in Finishing Well [... more]

Hans and Robby discuss QCDs or Qualified Charitable Distributions These distributions are a way to give your IRA money tax free to the charity of your choice Find out all the advantages of QCDs this week on Finishing Well Don't forget to get your copy of The Complete Cardinal Guide to Planning for and Living in Retirement on Amazon or on CardinalGuide com for free You can contact Hans and Cardinal by emailing hans cardinalguide com or calling - - Learn more at CardinalGuide com [... more]

For the past years retirement investors have relied on the rule to help them make nbsp plans for their future nbsp But nbsp this nbsp rule mdash designed to help nbsp you nbsp stretch your savings to last your lifetime mdash is nbsp now nbsp suddenly nbsp changing nbsp On the next nbsp MoneyWise nbsp Live hosts Rob West and Steve Moore nbsp share the new revelations about this retirement savings nbsp strategy nbsp nbsp Find out what rsquo s changed with the nbsp rule nbsp on nbsp the next nbsp MoneyWise nbsp Live at pm Eastern pm Central on [... more]

Raising children and managing money are challenging tasks in the best of times But those challenges may seem like insurmountable obstacles if you suddenly find yourself raising your kids alone as a single parent On the next MoneyWise Live hosts Rob West and Steve Moore have financial advice for parents who are caring for their family rsquo s needs on their own It's single parent finances on MoneyWise Live at pm Eastern pm Central on Moody Radio [... more]

Student debt has become an enormous burden for American families surpassing both credit card and automobile debt Many experts believe student loan debt will be the next financial bubble to burst so is there any way around it On the next MoneyWise Live hosts Rob West and Steve Moore welcome our resident economist Jerry Bowyer to share some alternatives regarding college and career choices Rethinking college on MoneyWise Live at pm Eastern pm Central on Moody Radio [... more]

It may surprise you to learn that there are more than verses on money wealth and possessions in the Bible Money was Jesus rsquo most talked about topic with of the parables referencing it in some way On the next MoneyWise Live hosts Rob West and Steve Moore share timeless verses about your finances Wisdom from the Word on MoneyWise Live at pm Eastern pm Central on Moody Radio [... more]

The government has given you some help with your IRA Not only are you allowed to take some money out without penalty if you have been financially hurt by Coronavirus but you can also leave money in your IRA for longer without penalty Hans walks through who these new provisions might work well for and who might want to not take advantage of this relief Remember Cardinal and Hans are here to help anyone who needs it at this time Don't forget to get your copy of The Complete Cardinal Guide to Planning for and Living in Retirement on Amazon [... more]

When you retire your life goes through a huge season of change especially when it comes to your finances The recently passed Secure Act adjusted how this season can go for you and your income The most notable adjustment comes to RMDs or Required Minimum Distributions for IRAs and k s The required start age for these has now been pushed back to from While this could be considered a tax break by some it is really important to look at this from a larger standpoint including how you want to pay taxes and leave money for your family Hans [... more]

Almost everyone will feel the some effects from the new SECURE Act Some more immediately than others but in the grand scheme almost everyone will be affected Ron and I will help you tackle the new rules as we discuss the two most important components the changes in stretch IRAs and the new RMD age The most important thing to keep in mind is communicating with your family about the changes from an estate planning standpoint Don't fret we're gonna break it all down for you and help you get started Check out the full show notes for this episode [... more]

The SECURE Act was recently passed making big changes to your IRAs and ks Hans talks about what was changed how this will affect you and what you need to do Important note The SECURE act really does not have any affect on your Roth IRAs If you have more questions about all of this please reach out to us we would be happy to go through everything with you Don't forget to get your copy of The Complete Cardinal Guide to Planning for and Living in Retirement on Amazon or on CardinalGuide com for free You can contact Hans [... more]

Everyone's IRA is different but yet they are still taking advice and facts from their friends and family Hans and Robby address this issue as well as all the options you have for making the most of your IRA by lowering your taxable income not receiving penalties and handling required minimum distributions First up is penalties for required minimum distributions Some people have this idea that they never want to pay taxes so they are not going to touch their IRA This is a mistake as not taking out distributions after is going to land you with a huge penalty [... more]

Isaiah - says the seven anointings of the Holy Spirit are wisdom understanding council might knowledge fear of the Lord delight in the fear of the Lord Robbie believes Hans reflects these virtues through his dedication to advising his clients well by staying up-to-date on the retirement industry and adhering to Christian standards This week Hans and Robbie want to keep listeners up-to-date with the SECURE Act and how it will change taxes in retirement Before continuing Hans asks listeners to take a moment and pray for Tom Griffith one of Cardinal's advisors and a regular guest on the show [... more]

In Matthew Jesus says For verily I say unto you till heaven and earth pass one jot or one tittle shall in no wise pass from the law till all be fulfilled In other words God's law won't change in the slightest until the end of days Similarly the jots and tittles that name IRA beneficiaries are the letter of the law and will supersede your Will and financial intentions Recently at a conference hosted by Ed Slott Tom said he learned that a court will uphold your IRA's listed beneficiaries over the those listed on your will It can [... more]

Most people have a basic knowledge of Required Minimum Distributions RMDs but few understand how they pertain to IRAs and ks as well as the intricate timing details that are essential to preparing to withdrawal for tax payments For a better understanding of the best times to withdrawal as well as avoiding penalties join John and Ron as they discuss a letter Ron recently received shortly after a big birthday Check out the show notes here https mrstillmansopus com retirement getting-your-rmd-ducks-in-a-row - RMDs for k s RMDs for IRAs Here's an example When do you have to make a withdrawal [... more]

Proverbs says Hope deferred makes the heart sick but a longing fulfilled is a tree of life With IRA's or individual retirement accounts hope or money deferred allows your longings to be fulfilled when you retire These hopes include a comfortable retirement with travel and fun and providing for your family Robby talks about how his dad wanted to go to Hawaii with his wife but after she passed he instead got to go with his children This was his hope deferred One thing most people where not hoping for is paying taxes on the money in their IRA but [... more]

We have been doing Finishing Well for a year Thanks for joining us on this journey This week Hans and Robby discuss IRA's The original idea behind money is that it is supposed to serve as a servant for your family and for the kingdom is your money doing this We can show love through our money Just like in Matthew God will reward those who bring back more and chastise those who dig a hole in the ground and hide their money IRAs were not created to accumulate money and leave it all to your children They were created [... more]

It is Finishing Well s first LIVE show This week Hans and Robby visited Peace Church in Durham NC to discuss IRAs and go more into depth about Qualified Charitable Distributions Robby discusses Matthew the parable of the day laborer The story is basically that a landowner whent to hire workers in the morning for his vineyard and offered them to pay thema denarius for the day hours later he got another group to come to work and then he got another group with one hour left hre brought another group At the end of the day everyone got a [... more]

An urban legend is an often lurid story or anecdote that is based on hearsay and widely circulated as true This week continuing with the theme of urban legends Hans and Robby discuss IRAS Should you wait until to take out any Required Minimum Distributions Doesn't this mean you pay less taxes Does your Last Will and Testament drive IRA distributions at your death Listen and find out if what you've heard is true Don't forget to get your copy of The Complete Cardinal Guide to Planning for and Living in Retirement on Amazon or on CardinalGuide com for free [... more]

The government wants their money and they are going to get their money whether it is from you or your heirs RMDs Required Minimum Distribution or is it Really Motivated Distribution Hans and Robby discuss reasons to take your Really Motivated Distributions early and late this week One really motivated way involves building up your Social Security benefit Another really motivated distributions allows you to give to the Church or other charities tax free Don't forget to get your copy of The Complete Cardinal Guide to Planning for and Living in Retirement on Amazon or on CardinalGuide com for free [... more]

Most people are aware that they're required to start withdrawing money from their retirement accounts at some point Some people even know that the magic age for this is But very few people have appropriately factored this into their retirement income plan [... more]