August 26, 2020- The Securities and Exchange Commission (the “SEC“) today took an initial step towards democratizing access to private investments by expanding the definition of an “accredited investor” to include persons who have demonstrated certain levels of financial sophistication. Qualifying as an “accredited investor” is important because it is a regulatory prerequisite to participation … Continued
If you took a mandatory withdrawal from your retirement plan earlier in the year, you’ll need to read this If you have money in a retirement savings plan that isn’t a Roth IRA, you’re probably familiar with required minimum distributions, or RMDs. RMDs were initially required starting at age 70 1/2, but that age was recently pushed … Continued
Most of our clients know that we are huge advocates of investing in real estate versus stocks, bonds, annuities, precious metals and do so even with our own retirement accounts. Even if the market crashes, you still have something that produces monthly income and that real estate assets can recoup its valuation and typically does … Continued
Markets are swinging and fears are mounting. What does that mean as retirement looms? The final week of February was a brutal one for the stock market, as fears of a worldwide coronavirus outbreak sparked a massive sell-off. Now you’ll often hear that you don’t have to worry about losing money in a stock market downturn … Continued
Failing to withdraw a required minimum distribution (RMD) from your own or an inherited IRA by the deadline results in a big tax code penalty: 50%. That’s right. If you were supposed to take out a minimum of $4,000 and (oops!) did not do so, you have the privilege of writing the IRS a check … Continued
Hint: It’s something unavoidable for seniors. Though retirement is an exciting milestone to look forward to, the idea of it can be nerve-wracking. After all, there’s a host of financial unknowns associated with retirement, and living on a fixed income leaves many seniors struggling to make ends meet. It’s therefore encouraging to learn that 84% … Continued
The most significant legislation affecting retirement became law — as of Friday, Dec. 20. Congress passed an important retirement-savings law called Setting Every Community Up for Retirement Enhancement, or the SECURE Act of 2019. The law takes effect on Jan. 1, 2020. After stalling for months, Congress suddenly passed the bills as an attachment to … Continued
Here is a good read we found on the subject of Mentors. This article is from the news organization CNBC and is titled: 31-year-old self-made millionaire: I spent $70,000 on mentorship in 6 months—here’s why it was worth it Go to the CNBC website to read the full article at: https://www.cnbc.com/2018/04/11/31-year-old-millionaire-i-spent-70000-on-mentorship-in-6-months.html For … Continued
Your 20s are one of the most important periods in your financial life. It’s a time when you’re finishing college, starting a career, building credit, and making some of your biggest financial decisions. Are there things you can do right now to set yourself up for success later? Yes! I’m 27 now, and I already … Continued
You or a loved one may have just received an Alzheimer’s or dementia diagnosis, and while you may ride waves of shock and sadness, your thoughts may also turn to how you’ll take care of your loved ones (and yourself) financially. Americans living with Alzheimer’s currently number 5.8 million. One in three seniors dies with … Continued
Sol Mar REI