What To Know About Medicare Enrollment For 2020
By Maura Schauss, CFP® and Todd Youngdahl, CFP®
Planning for your healthcare costs in retirement is one of the most important moves you can make. Most people receive healthcare coverage through their employers, which will end when they retire. Many are eligible to receive Medicare at age 65, so there are things you need to know to be ready to enroll, including the enrollment process, coverage options, and what healthcare expenses Medicare doesn’t cover.
How The SECURE Act Affects Your Required Minimum Distributions
By Todd Youngdahl, CFP® and Maura C. Schauss, CFP®
The Setting Every Community Up for Retirement Enhancement (SECURE) Act was signed into law on December 20, 2019. The Act contained a broad array of retirement-related provisions. The provision that has the most far-reaching effects has to do with the age at which people must start to draw down their retirement accounts.
What Is A Fee-Only Financial Advisor & Why Does It Matter?
By Todd I. Youngdahl, CFP®
If you’ve spent any time researching financial advisors, you’ve probably come across the term Fee-Only. It’s used to describe registered investment advisors, and it’s one of the best words you can hear when searching for a financial expert.
But what does it mean? And why is it important when you are evaluating financial advisors?
Today we’ll address what it means to be a fee-only financial advisor—and why we at Washington Wealth Advisors pride ourselves on this one little phrase.
Medicare Open Enrollment Begins October 15th. Here's the 4 – 1 – 1 to Keep You In The Know
By Maura C. Schauss, CFP® and Todd I. Youngdahl, CFP®
The Backdoor Roth IRA: Converting Non-Deductible IRA Contributions Into a Roth IRA
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.
What is a Fiduciary and Why Does it Matter?
By Maura C. Schauss, CFP®
In the news, the word “fiduciary” has been thrown around a lot in regards to financial advisors and their duties. The concept can seem confusing to people, as many assume that all advisors, whether they’re stockbrokers or financial planners, are required to act in their client’s best interest. But that’s not the reality. It’s important to understand the distinction between different types of advisors’ roles and what it means for you and your money.