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Make a Down Market Work For You

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Okay, so your investment value took a hit in the recent market plummet. With a bull market that extended over ten years, hopefully this wasn’t a total surprise. I’m not sure anyone thought it would drop 30%, and no one knew of the exact timing, but if you followed our blog and looked to market history for indications and insights of what was to come, a market correction of some type was not off your radar. Hopefully you had a financial plan that considered this and were comfortable with your risk tolerance and any unrealized losses that you incurred.   Now that your portfolio is down, what can you do? While nothing is a blanket statement that can be applied to everyone, there are some strategies you can consider. Be sure to speak with your advisor to see if either of these tactics could work for you.   Roth Conversion:   Many people contribute to a traditional IRA or a traditional 401(k). The way these registrations are structured provides for contributions to a retiremen...
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I’m Young. I Don’t Need A Financial Planner. Right?

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Last week I got a phone call from a young client of mine who had a question on what to claim on his W4. He was starting a new job and wanted to run it by me. I was happy to help walk him through it, but made sure to ask what he was planning on doing with the retirement account he had been contributing to with his previous employer and what his new employer offered for retirement options. It was a simple enough question, but it opened up a conversation I was glad we had. It went something like this:   Me: Okay, so you’re rolling the assets over to your new employer’s plan. Do you know what investment vehicles they offer and what the match might be like? If any? Or what the vesting period is like?  Him: They told me I could roll it right over so I’m going to do that. And I’m not sure… I know there’s a 3% match but I don’t know how it’s invested. They have a lot of options so I’ll pick a more aggressive one. It’s for retirement so I can be aggressive right now. I’m not touch...
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