Entries by Brian Dobbis

    Explore the HSA by Rolling Over Your Retirement Savings

    July 22, 2016 3:18 PM by Brian Dobbis

    Have you taken full advantage of health savings accounts (HSAs)? The tax savings can help defray the cost of living and getting sick.

    THE ROAD TO RETIREMENT with BRIAN DOBBIS 

    Now that it’s political convention season, imagine for a moment a crowd chanting, “HSA…HSA…HSA!” Far-fetched as that might sound, health savings accounts (HSAs) have gained widespread support since they were created in 2003 as part of the Medicare Modernization Act.

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    Why Roth IRAs Appeal to Millennials

    July 15, 2016 5:15 PM by Brian Dobbis

    Millennials—the generation born between 1980 and 2000—are warming to the retirement saving advantages of Roth IRAs. 

    THE ROAD TO RETIREMENT with BRIAN DOBBIS 

    As a group, millennials outnumber baby boomers. In fact, within 10 years, millennials are projected to account for three-quarters of the U.S. workforce, according to Javelin Research and Strategy. Their incomes are climbing (and, on an aggregate basis, are about to pass boomers; see Chart 1), and they are beginning to save more. All of which has created new opportunities for financial advisors, particularly when it comes to Roth IRAs.

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    Roth IRA or Roth 401(k)—What’s the Difference?

    July 7, 2016 5:30 PM by Brian Dobbis

    Plenty. While both investment vehicles are devoted to saving for retirement, rules on eligibility, contributions, and distributions vary.

    THE ROAD TO RETIREMENT with BRIAN DOBBIS 

    The more I travel, the more I get asked about the so-called “greats of Roth.”

    While Roth 401(k)s are similar to Roth IRAs in many ways, there also are a number of key differences between the two types of accounts.

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    How NUA Can Help Save Money in Retirement

    June 27, 2016 12:08 PM by Brian Dobbis

    NUA, or net unrealized appreciation, allows for favorable tax treatment of withdrawals of an employer’s stock—but understanding the rules is essential.

    THE ROAD TO RETIREMENT with BRIAN DOBBIS 

    Of all various ways to lower one’s taxes in retirement, net unrealized appreciation (NUA) is often misunderstood or overlooked altogether.  The rules may be complicated, or even short-lived (President Obama’s 2017 budget proposal would eliminate the NUA tax break).  But any plan participant who owns company stock and is separating from service or retiring should be aware of NUA before rolling his/her retirement account into an IRA or a new employer’s plan. 

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    Tips on IRA Rollovers

    June 17, 2016 4:30 PM by Brian Dobbis

    Confused about treatment of both pretax and aftertax dollars in a qualified plan? Here’s some updated guidance from the IRS.

    THE ROAD TO RETIREMENT with BRIAN DOBBIS

    In case you missed it (many investors have), the IRS offers much-needed guidance on the allocation of aftertax dollars to IRA rollovers. While the administrative language might seem unclear at first, it at least provides a roadmap for splitting a 401(k) distribution that consists of both pretax and aftertax dollars.  

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    How to Avoid IRA Rollover Headaches

    June 9, 2016 2:45 PM by Brian Dobbis

    Keeping abreast of the “60-day” rule and various nuances can protect your nest egg. 

    THE ROAD TO RETIREMENT with BRIAN DOBBIS 

    After a day of presentations, I recently received a spate of questions regarding the tricky “60-day rule” on IRA rollovers and its many nuances. So let’s revisit the latest regulations, effective January 1, 2015, which are a game-changer.

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    How to Hedge against RMDs

    June 2, 2016 3:30 PM by Brian Dobbis

    Worried about outliving your IRA savings? Some retirees are purchasing qualified longevity annuity contracts (QLACs) within their IRAs to defer a portion of their RMDs up to age 85.

    THE ROAD TO RETIREMENT with BRIAN DOBBIS

    According to the Stanford Center on Longevity, three out of four Americans indicate that they want to live to 100 if they can do so in good health. Whether they will have enough money to support themselves in retirement, however, is another matter. Some studies suggest that many will struggle, given insufficient savings, pensions, and Social Security. Further complicating matters, IRA owners, once they turn 70½, generally have to take required minimum distributions (RMDs), which are taxable.

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    Five Steps Toward a Smarter Retirement

    May 19, 2016 4:25 PM by Brian Dobbis

    In case you missed it, here’s a handy summary of our most popular blogs among readers. 

    THE ROAD TO RETIREMENT with BRIAN DOBBIS 

    Of all the conundrums facing financial advisors, none compare with clients’ worries about retirement. After all, many clients have not saved enough for their golden years, and there’s a growing need for income, owing to longer lifespans, low interest rates, rising health costs, and inadequate support from Social Security and pension plans (if your clients even have one.)

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    How Spousal IRAs Can Build Nest Eggs

    May 13, 2016 11:46 AM by Brian Dobbis

    Often overlooked by couples caring for children and/or elderly parents, spousal IRAs can be a valuable tool to save for retirement.

    THE ROAD TO RETIREMENT with BRIAN DOBBIS 

    A common misconception I often hear is that you must have taxable compensation to fund an IRA, as though not having earned income meant that you were out of luck either beginning or further building a nest egg. This is a very costly myth.

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    State-Run Retirement Plans: Ready for Prime Time?

    May 9, 2016 3:15 PM by Brian Dobbis

    While industry critics worry about the practical aspects, state-run retirement plans for private-sector workers have gained momentum. Whether the details bedevil them is another matter.  

    THE ROAD TO RETIREMENT with BRIAN DOBBIS 

    Now that the Department of Labor (DOL) has issued its final version of the “conflict of interest” rule, we can turn our collective attention to another important happening that is presently taking place in the retirement world, one in which the DOL again finds itself spearheading efforts to expand access to retirement plans to private-sector workers.

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