By Todd Youngdahl, CFP®
As 2019 winds down, many investors fear our 10-year-old bull market is quickly turning into a bear market. And if it does turn into a bear market, what does that mean? Are we on the verge of another recession like the one we had in 2008?
In light of all these concerns, today we’ll give you the 411 on recessions and bear markets so you can know if there’s anything to be concerned about at this time.
By Maura C. Schauss, CFP®
It’s a shame, really. In today’s world, scams, hacks, and identity theft happen all the time. And while we all think, “Oh, that will never happen to me,” the truth is that nobody is safe.
To keep yourself protected, you have to be on high alert. This means knowing the current scam trends so you can recognize and avoid them.
Here are five common scams people are falling for every day—and how to avoid them. Make sure to share these scams with your loved ones to protect them from being the next victim. In the fight against scammers, knowledge is power.
By Maura C. Schauss, CFP® and Todd I. Youngdahl, CFP®
When it comes to retirement, there seems to be a never-ending checklist of tasks to complete in order to prepare yourself for this major milestone. You need to save enough to maintain your lifestyle, create a withdrawal strategy, work to minimize your taxes, and claim your Social Security benefits. But there’s one other critical piece of retirement planning to prepare for: signing up for Medicare. And with healthcare being one of the top five expenses in retirement, your Medicare choices are some of the most important decisions you will make.
By Todd I. Youngdahl, CFP®
Roth IRAs are great savings vehicles for many reasons. They can be a tax-free income source in retirement. They don’t have required minimum distributions when you reach age 70½ as with most other tax-advantaged retirement plans. And, they have flexible inheritance rules that will benefit your children and grandchildren.
The only problem with Roth IRAs is that you may not be eligible for one. You likely make too much money. For 2019, you are ineligible to contribute directly to a Roth IRA if you are single with an adjusted gross income (AGI) over $137,000 or a married couple with an AGI over $203,000.
Why tout the benefits of a Roth IRA to people who may be unable to contribute directly to one? Another contribution path exists. It is called a Backdoor Roth IRA which offers an alternative way to make contributions to a Roth IRA.
By Maura Schauss, CFP®
Thankfully, there are many ways to plan for rising healthcare costs—the most popular option being a Health Savings Account (HSA). An HSA is a type of savings account that lets you set aside money on a pre-tax basis to pay for qualified medical expenses. It’s used in conjunction with a high-deductible health insurance plan.
It's our 3rd Annual October Food Drive and Together we CAN make a difference!
We believe in engaging with the communities where we live and work. In that spirit, we are hosting our annual food drive in support of Arlington Food Assistance Center and Loudoun Hunger Relief. Each organization plays a vital role in serving food insecure individuals and families. Read below to learn about their missions.
We encourage you to participate with your donation of non-perishable canned goods collected at our Falls Church or One Loudoun Ashburn office throughout the month of October. We have shared an Everyday Wish List to give you some guidance on their preferred items. At the end of the month, we'll transport all donations to their facilities. Help us fill a truck full of food for each organization! Thank you for your support.