Blog
"Helping Change The Way People Think About Planning & Investing!"
In today's social media environment, there exists the opportunity to receive objective financial advice - the problem is where can you find it? I plan to cover various financial areas and provide meaningful and useful information in my blogs (or brief articles, or posts, or whatever they're supposed to be called now). I am a fiduciary along with the credentials of Certified Public Accountant (CPA) and Certified Financial Planning Professional (CFP). I hope you find the blogs informative and feel free to contact me to discuss your financial goals. Please enjoy!
Social Security Benefits May Be Cut By 2034
The economic impact of COVID-19 has been felt from coast to coast. And, unfortunately for many pre-retirees, it could potentially impact Social Security benefits as well. We have heard the ominous warnings over the past couple decades...
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Is Compounded Growth The Optimal Investment Strategy?
What is the most effective and powerful investment strategy to building wealth? Is it buying low and selling high? Is it correctly timing the ups and downs of the market? Could it be the ability to take advantage of leveraging...
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RMD rules - How much have they changed?
Required Minimum Distributions The new rules regarding Required Minimum Distributions (RMD’s) are in effect in 2021. The “SECURE ACT” of 2019 and the “CARES Act” of 2020 were enacted to change the rules...
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Inflation - Should you finally be concerned?
In hindsight, it is not surprising that prices of everything from limes to used cars, to vacations are rising at a rapid pace. Most businesses in the U.S. economy spent practically an entire year scaling down business operations...
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Election 2020: A Dose of Patience
The upcoming election is prompting some people to reconsider their investment strategy. In fact, 45% of consumers with $100,000 or more investable assets expect to make changes to their portfolio due to the upcoming 2020 presidential...
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The Social Security Administration Announces 2021 COLA
On October 13, 2020, the Social Security Administration (SSA) officially announced that Social Security recipients will receive a 1.3 percent cost-of-living adjustment (COLA) for 2021. The increase seems pretty low, doesn't it?
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The Federal Reserve's Monetary Policy - A Retiree's Dilemma!
“We remain committed to using our full range of tools to support the economy for as long as is needed.” -Jerome Powell – Chairman of The Federal Reserve, Tues, Sep 22, speaking to the House Financial Services...
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Federal Student Loan payments paused due to COVID-19
This month, many universities and colleges are welcoming students back to campus, even if most campuses are largely online this year. But that's not all that's different. The current administration has issued an executive memorandum...
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If There Was Ever a Time To Consider a Roth IRA......
The Roth IRA has been available as an alternative investment since 1998, but To the average investor, however, there are things about the Roth IRA that remain unclear enough to discourage many investors to ever consider one. But there...
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Coronavirus "CARES Act" - Brief Summary of Retirement Planning Areas
Welcome to Carr Wealth Management, LLC. Our mission is to help clients manage the uncertainties of tomorrow, and we certainly have run into uncertain times. Due to the coronavirus, our economy along with the global economy is heading...
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A Glimpse of Disciplined Investing
Many investors today are grappling with the sudden and shocking downfall of their investment portfolios. Just a few weeks ago the financial headlines continued to inform the public of the record highs that various indexes were...
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The New SECURE Act - Does It Impact You?
Information on the SECURE Act The Setting Every Community Up for Retirement Enhancement Act, better known as the SECURE Act, was signed into law on Friday, December 20. Here are the major changes created by the new law. • Required...
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One Last Look at Possible Year-End Tax Saving Strategies
Issuing a list of items that are designed to help reduce your tax bill three weeks before the end of the year may appear to be cutting it close, but would you really review a year-end to-review-list in early November? Besides, most of...
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Medicare B Premiums to Rise 6.7% in 2020 / Soc. Sec. Increasing Only 1.6%
The 2020 Medicare Part B premium has been announced by the Centers of Medicare and Medicaid Services (CMS).The base premium for Medicare Part B, which covers doctors' fees and outpatient services, will increase to $144.60 per month in...
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Fed Rate Reduction - Tell Me Again Who That Helps?
On the last day of July (last Wed), the Federal Reserve lowered the fed funds rate for the first time in over ten years. The rate increase was widely expected for the past few weeks, but I admit I’ve struggled with the rationale...
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The Roth IRA After Tax Reform - Does It Make Sense Now?
Just as it is in any investment, choosing to create (or convert to) a Roth IRA requires analyzing the risk and return of such a strategy. But unlike other investments where risk of loss is compared to possibility of gain, the risk and...
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New Retirement Bill - Does It Impact You?
The House overwhelmingly approved a bill last month designed to promote retirement security by making it easier for small businesses and other companies to offer retirement plans. The Senate will vote on the bill soon. The bipartisan...
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CD's, THE FED, AND INTEREST RATES
When we speak of portfolio allocations, we typically use percentages such as “60/40,” which generally means that riskier assets, such as stocks, comprise sixty-percent of a portfolio. The remainder of the portfolio will...
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Year-End Investment Tax Strategies
The new tax rules for 2018 are far-reaching and impact ordinary tax rates, standard deductions, personal exemptions, itemized deductions, business expenses, moving expenses, alternative minimum tax, and various credits. However, an...
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Buy Low and Sell High – That’s Still The Right Way, Right?
Buy Low and Sell High – That’s Still The Right Way, Right? It is said that the two emotions of fear and greed control most of our financial decisions (how it applies to decisions in everyday life is beyond my expertise)....
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The Fed, Interest Rates, and Inflation - Oh My!
The Federal Reserve last month raised the fed funds target rate for the third time in 2018 and for the eighth time since monetary tightening began in December of 2015. It’s expected that the Fed will increase the rates again in...
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So, You Want To Know My Risk Tolerance?
So, You Want To Know My Risk Tolerance? When it comes to investing, risk comes in many forms, and it can apply to many different types of investments. But there’s one type of risk that has been universally known since man began...
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How to Hedge Against Inflation - "TIPS"
Imagine an investment that produced returns that are linked to the general level of rising prices. Individuals living on a fixed or mostly fixed level of income must deal with the risk of rising prices outpacing their income growth....
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Social Security Benefits - Do Divorced Spouses have rights?
Just because someone is divorced from their former spouse doesn’t mean they are ineligible to receive spousal benefits. In fact, most of the rules involving married spouses will pertain to divorced spouses. There are a couple of...
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Medicare Premiums - Do you have any control over amounts?
Medicare premiums are based on the income you reported on your most recent tax return. Sounds simple enough but there’s a couple of things to know: The “most recent tax return” rule is intended to be from Social...
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Compounded Growth - It's Not Flashy, But Effective!
When the term “compounded growth” is used in investment talk, it’s about as appealing as watching paint dry; it’s boring. There is a slight innuendo of long-term disciplined investing in the term...
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The Fiduciary Rule - Why Is This Even An Issue?
“Acting In Your Client’s Best Interests!” – Who knew it could be so complicated? Well, apparently it is. But to the typical investor, it shouldn’t be. Once they’ve gotten over the initial shock that...
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SOCIAL SECURITY - Why Should I Wait Until Age 70?
Why Should I Wait Until Age 70? According to the Social Security Administration, 43% of Americans file for Social Security Benefits at age 62. Approximately 9% wait beyond age 66. Of course, there will be situations where the need for...
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To Roth Or Not To Roth?
It may not be “THE” question, but deciding to invest or convert to a Roth IRA instead or from a Traditional IRA can have a substantial long-term effect on your financial future. The use of compounding and tax deferral are...
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Fees Matter
When the market is up, investors will pay less attention to the total costs of their investments since the returns are positive, but when the market is down, many investors become more interested in how much they're paying for their...
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SOCIAL SECURITY - A Tax, Investment, Or Insurance?
Social Security – Is It a Tax, an Investment, or Insurance? Technically, Social Security tax, or what we affectionally know as FICA, is indeed a tax, but it’s not like any other tax. The acronym FICA stands for the Federal...
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Speculating - It's Not Investing!
Investing, in a financial sense, is an outlay of money in hopes of achieving future returns; speculating is an outlay of money in hopes of achieving immediate or short-term returns. The odds are not on the side of the investor....
Read MoreWhat is Portfolio Rebalancing? How, & When Should I Do It?
Following a staggering surge in the stock market during the first quarter of 2017 (actually, since November), it may make sense to consider “rebalancing” your investment portfolio. But what is portfolio rebalancing and how does it work?
Read MorePassive Investing - Does it Really Mean To Do Nothing?
Passive Investing is generally assumed to be an investment strategy that requires one to "do nothing." But actually, there is a great deal of work to be done in order to take advantage of using low-cost investment vehicles to help...
Read MoreThe New DOL Fiduciary Rule for Investment Advice
“You mean they weren't acting in our best interests to begin with?” On April 06, 2016, the investment industry was rocked by a much anticipated Department of Labor Fiduciary Rule that obliges financial professionals who are...
Read MoreWhat is Robo-Advising?
Staying away from high fees and excessive trading is a step in the right direction for investors, and the growing use of automated investment systems signal that many investors no longer want to pay higher fees for their investments...
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