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Do You Know Where Your Money is And What it is Doing?

/// Posted by Wealth Management Team

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As 2019 closes and a new year starts with a fair amount of uncertainty, it is a good idea to take stock of your financial situation. While markets have been going strong and the economy seems largely sound, upheaval in both domestic and world politics, an increasingly fragile interaction with the environment, and uncertainty in global trade policies will continue throughout the immediate future. We’d like to ask all of our clients, both individual and as part of an organization—how is your money working for you and do you have a cohesive plan to maintain and grow your wealth?

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Mega Backdoor Roth Conversion Primer

/// Posted by Rob Simons

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Background

There is growing interest in a design strategy known as the Mega Backdoor Roth Conversion (the Conversion). The Conversion allows 401(k) or 403(b) Plan participants who are already deferring the maximum allowed to contribute After-Tax funds to the plan. The participant may then convert the money from After-Tax funds to Designated Roth funds. This two-step process has the effect of allowing plan participants to contribute additional Roth money to the plan and shelter the gains from taxes.

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Podcast Q&A: Mega Backdoor Roth Conversion Primer

/// Posted by Rob Simons

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Rob Simons, Senior Retirement Consultant at Sapers & Wallack, answers questions about our November blog ‘Mega Backdoor Roth Conversion Primer‘.

/// Posted byAviva Sapers & Peter Stoner

Whether your 65th birthday is fast approaching or decades away, it pays to understand the basics of how Medicare works and what it does and does not cover—and then plan accordingly for any additional coverage that you may need in retirement.

Enrolling in Medicare can be more complicated and frustrating than many might expect, and the rules and regulations are changing.

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Aviva Sapers, President and CEO of Sapers & Wallack, and Peter Stoner, President and CEO of Stoner & Company, answer questions about our October blog ‘Medicare Coverage: What to expect, how to enroll, and will you need supplemental plans for retirement’.

Why Retirement Planning Must Account for the Rising Cost of Healthcare

/// Posted by Scott Tuxbury

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For most Americans in 2019, the idea of retirement is associated more with a sense of anxiety than the promise of relaxation it once inspired. Have I saved enough? When should I stop working? Will I have a guaranteed source of income? And more than ever before, how can I plan for the rising costs of healthcare?

These are all valid questions that need answers, but the stressors around future medical expenses and the cost of insurance coverage, in particular, have never been more pressing.

We are living longer, healthcare costs are rising faster than general inflation, government coverage and subsidies are less, and we won’t have the same employer and union-based benefits that our parents’ generation enjoyed. According to a 2019 Fidelity Benefits Consulting estimate, the average cost for healthcare after the age 65 will be $285,000 per couple.[i] But our own internal estimates find that the costs will likely be much higher, and possibly even double, depending on your income levels in determining Medicare coverage.

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Scott Tuxbury, Vice President and Leader for the Retirement and Wealth Management Practices at Sapers & Wallack answers  questions about our September blog, “Why Retirement Planning Must Account for the Rising Cost of Healthcare”

 

Why a Family Succession Plan is Important

/// Posted by Aviva Sapers

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It’s a storyline played out in best-selling books, movies and TV dramas:  the successful family that’s torn apart after the death of the matriarch or patriarch and transition of the business and other assets. This isn’t the stuff of fiction. A succession plan addressing how to take care of your family business—and your relatives who are part of it—is key to a successful, perhaps drama-free, transition.

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Podcast: Q&A on Why a Family Succession Plan is Important

/// Posted by Aviva Sapers

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Aviva Sapers, President and CEO of Sapers & Wallack answers questions about our August blog ‘Why a Family Succession Plan is Important’.

Roth Conversions for Retirement

/// Posted by Scott Tuxbury

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On average, Americans are living longer than ever before. This reality has complicated the planning and saving stage of retirement as we struggle to secure enough income to cover our needs for the duration of our lifetime. One increasingly critical tool of financial planners for retirees is the use of Roth IRA conversions. A Roth conversion refers to taking all or part of the balance of a pre-tax traditional IRA and moving it into a Roth (after-tax) IRA.  

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