Inherited IRA: What Do You Do?
Wednesday, December 6, 2023
at 12:00 PM EDT
ONLINE Financial Power Hour class OR attend IN PERSON livestream in our Burlington, VT office
The ability to stretch an inherited IRA over a lifetime was essentially eliminated for most beneficiaries by the SECURE Act. Some Inherited IRA and Roth IRA beneficiaries are now required to withdraw the entire balance out of an inherited IRA within 5 or 10 years and may be subject to required minimum distributions. Not knowing the rules and tax-saving strategies for inherited IRAs could result in paying more income taxes and penalties.
This class will review the existing and proposed IRS rules and regulations for each type of inherited IRA beneficiary. The topics covered will include:
- Three options for a Spouse when they inherit an IRA,
- How Eligible Designated Beneficiaries can stretch an inherited IRA,
- The 10-Year rule for non-spouse beneficiaries,
- Do you need to take an RMD from an inherited IRA? and
- Strategies you can use to pass on more wealth from your IRA.
Join us for this insightful presentation to learn what you need to know when you inherit an IRA and what you can do to pass on your IRA with less taxes to leave more wealth to the people you care about.
Click the REGISTER button below to receive your secure link to join the ONLINE class.
Even if you cannot attend the live class, register to receive a link to the class video recording.
RSVP for the IN PERSON livestream in Burlington, VT by contacting us at 800-416-1655 or hello@hiwealth.com.
Join Us for Our December Happy Hour!
Life gets busy during the holidays. Take a break and join us for an evening of beverages, delicious snacks, and great conversation!
Join us at Burlington Beer Company in Burlington, VT on Wednesday, December 6th from 5:00 pm to 7:00 pm for an enjoyable break from the holiday hustle and bustle. No formal presentation. Just an opportunity to get together.
Please feel free to invite your friends, colleagues, and neighbors.
All are welcome. RSVPs are encouraged but not required. To RSVP contact us at hello@hiwealth.com or 800-416-1655. We look forward to seeing you there!
Tax- Saving Strategies You Can Use Before Year-End
From maximizing tax-advantaged savings accounts to optimizing your charitable giving, this class will provide you with strategies you can implement before year-end that may help you save taxes. If you think you’re paying too much in taxes, chances are you may be right. There are tax planning strategies that can help save income taxes, avoid capital gain taxes, and pass on more wealth to the people and causes you care about.
Click the link below to learn about savvy money moves you can make before year-end that may help you save taxes, build wealth, and create a greater impact with your year-end giving.
Questions on this video? Please contact us at 800-416-1655 or hello@hiwealth.com.
Medicare Made Clear: What You Need to Know and Understand About Your Benefits
Whether you’re helping a family member with their Medicare, newly eligible yourself, or already enrolled in Medicare and want to be sure your benefits are still right for you, this class will prepare you and your loved ones for the choices you’ll need to make.
Our special guest speaker Rob Charnas, a licensed representative from UnitedHealthCare®, will address many common questions and misconceptions:
▪ What does Medicare cover?
▪ How do you compare and choose the right plan?
▪ What are the major differences among Medicare supplemental plans?
▪ What you need to know before buying a Medicare supplement plan?
▪ How can I save money on my Medicare coverage?
Click the link below to get a better understanding on how to select and utilize Medicare coverage and a supplemental plan for you or someone you care about.
Questions on this video? Please contact us at 800-416-1655 or hello@hiwealth.com.
Politics and Portfolios: What You Can Do With Your Investments During This Election Season
Don’t play politics with your portfolio. Many investors make judgements and investment decisions based on who might be president or which political party is leading in Congress rather than fundamental investing principles. The truth is, although government policies can influence the economy and financial markets, it is extremely difficult to predict the future performance of an investment or the financial markets based on a political party, a president, social divisiveness, or any other type of indicator you choose to focus on.
Click on the link below to learn more about the historical impact of politics on portfolios.
Questions on this video? Please contact (800) 416-1655 or hello@hiwealth.com.
Global Economic Armageddon: Is It the Right Time to Panic?
As humans our brains are not wired to be good investors. The fear and anxiety from global events and personal circumstances often cause investors to panic and sell investments when things seem dire and uncertain.
In this video you will gain insights into:
- What’s actually at risk in these challenging times (hint: it’s not what the media wants you to think).
- The upside of a down market and how you can make informed decisions with the potential to help you build and protect your financial future.
- How to keep calm when the world seems chaotic and uncertain.
Click on the link below to discover practical strategies to navigate uncertain times while safeguarding your financial future.
Questions on this video? Please contact (800) 416-1655 or hello@hiwealth.com.
Maximizing Your Social Security Benefits
This video class is ideal for you and your family connections who want to maximize social security benefits in retirement, take an early retirement, or make more informed choices.
Social Security has the potential to be a key financial asset, yet too many American families fail to maximize their benefits.
Watch the video and learn:
- Common mistakes you can make when filing
- How Social Security benefits work for you and your spouse or partner
- When and how to start receiving Social Security benefits
- Opportunities to increase your benefits throughout retirement
Questions on this video? Please contact (800) 416-1655 or hello@hiwealth.com.
The Crypto Conundrum
Should I convert a portion of my money into crypto based investments?
There are questions and a lot of hype around cryptocurrency and other digital assets. From Bitcoin to Blockchain and non-fungible tokens, while some get rich, others lose their shirts.
Watch the video to learn more.
Questions on this video? Please contact (800) 416-1655 or hello@hiwealth.com.
Steps to Protect Your Families' Assets from Potential Long-Term Care Costs
Myths and Misconceptions of Medicare & Medicaid
Our special guest, Elder Law Attorney Joan Reed Wilson, joined us to discuss the myths and misconceptions about Medicare and Medicaid along with the steps you can take to protect your families' assets from potential long-term care costs. In this class you will learn:
- The difference between Medicare and Medicaid,
- What the programs cover and what they do not,
- The long-term care benefits available to veterans,
- The 5-year and 3-year look-back rule,
- How Revocable Trusts and transfers to children may not protect your assets,
- Benefits of an Irrevocable Trust, and
- Tips to ensure a smooth approval for benefits and protect assets.
Click on the link below to learn the important questions to ask and steps to take to protect you and your family.
Questions on this video? Please contact (800) 416-1655 or hello@hiwealth.com.
Discover the Differences Between Index Investing and a Structured Portfolio
At Hammond Iles Wealth Advisors we believe an informed and educated investor is our best client. Some advisors may tell you to just turn your portfolio over to them and don't worry about your investments. We take a different approach. We work hard to educate and inform our clients about their investments. Understanding what you own, why you own it, and how your portfolio is designed to navigate volatility allows you to have more confidence and comfort during unexpected events in unpredictable financial markets.
This online class is an opportunity to understand more about how a portfolio using structured investments might provide more long-term growth than index funds. Knowing this about your portfolio can lead to more peace of mind, even with regional banks failing, inflation, and media predictions of a recession.
Click on the link below to watch the video and learn what you don’t know, you don’t know about index investing and how structured investments could provide you with more confidence in your portfolio leading to more long-term growth.
Questions on this video? Please contact (800) 416-1655 or hello@hiwealth.com.
MONEY BASICS
The Important Things We All Need to Know
Many successful coaches in sports are known for focusing their team on mastering the basics. As Financial Coaches we believe everyone from experienced investors to those just getting started do the same with money basics.
Whether you want a refresher or are just starting out, learning the money basics will empower you to have more confidence in your financial future. In this class we will share the important money basics we all need to know. Topics we will cover in this class include:
- Reduce money stress by having a peace of mind account,
- The 50/30/20 Rule,
- Using the power of compounding for your retirement,
- Understanding stocks and bonds and what role they play in your portfolio,
- 3 investing pitfalls to avoid.
By the end of this class, you'll have a better understanding of the money basics and how to implement them for more financial freedom and fulfillment in your life.
Questions on this video? Please contact (800) 416-1655 or hello@hiwealth.com.
2023 TAX PLANNING
Strategies that May Help You Keep More of Your Income and Investments
If you think you’re paying too much in taxes, chances are you may be right. There are tax planning strategies that can help save income taxes, avoid capital gain taxes, and pass on more wealth to the people and causes you care about.
In this video we discuss various tax planning strategies you can use to save on your taxes and increase the impact of your financial and charitable planning efforts. Some of the topics we will cover include:
- 2023 Updates to Tax Brackets, Contribution Limits, and More
- Planning Needed Due to the Elimination of the Stretch IRA
- Double the Impact of Your Retirement Account
- Roth Conversions
- Required Minimum Distributions (RMDs)
- Qualified Charitable Distributions (QCDs)
- Common Mistakes in Giving to Charity
Managing your taxes efficiently involves a clear understanding of the tax saving opportunities available to you. By the end of this video, you'll have a better understanding of how to plan for the upcoming year to save money on your taxes.
Questions on this video? Please contact (800) 416-1655 or hello@hiwealth.com.
NAVIGATING 2023:
How to Plan and Invest for an Uncertain Year and the SECURE Act 2.0 Retirement Changes
2023 brings new opportunities while we still face many of 2022's challenges — from rising interest rates, divisive political leadership, and the war in Ukraine to the possibility of a recession. Yet, the employment picture is brighter, gasoline and oil prices are lower, and the inflation rate decreased.
Also, Congress passed the SECURE Act 2.0 as part of its omnibus budget on December 29, 2022. The SECURE Act 2.0 aims to increase retirement savings for Americans. The major provisions of this bill impact everyone’s retirement planning and include expanded savings opportunities, required minimum distribution changes, expanded Roth account opportunities, emergency funding, and retirement fund provisions.
With all the uncertainty, how should you and your family plan and invest for 2023 and beyond? Watch this class to learn more about what you might expect from this year and how to plan for it.
Questions on this video? Please contact (800) 416-1655 or hello@hiwealth.com.
Stay Calm and Rebalance
Rebalancing is the process of periodically buying or selling assets within an investment portfolio to maintain your original or desired level of risk and reward.
Rebalancing offers investors the opportunity to buy low and sell high, taking the gains from high-performing investments within a portfolio and reinvesting them in assets that will potentially see growth. As financial markets move up or down, your original asset mix may go off target, causing your portfolio to carry more or less risk.
In this video class you will learn:
- How to avoid investing biases by understanding and identifying potentially destructive behaviors,
- Investing rules that may help manage your biases,
- Why academic studies show that asset allocation is a critical aspect on how your portfolio might deliver on your goals,
- How rebalancing is needed to maintain your level of risk, and
- Why rebalancing is essential to prudent long-term investing and risk control.
Questions on this video? Please contact (800) 416-1655 or hello@hiwealth.com.
Everything You Want To Know About Retirement Accounts
Watch the video and learn about:
- Types of accounts such as IRA, Roth IRA, 401(k), 403(b), Solo 401(k)
- Differences between types of accounts
- Employer match
- The miracle of compounding
- How much to save
- Using employer plan limited options
- RMDs & qualified charitable rollovers
Questions on this video? Please contact (800) 416-1655 or hello@hiwealth.com.
Investing 101 Financial Fundamentals
Sometimes all the different types of investments can seem overwhelming.
Watch the video and learn about:
The Financial Basics that will empower you whether you want a refresher, are just starting out, graduating college, beginning a career, getting married, or assisting with finances for a loved one.
Questions on this video? Please contact (800) 416-1655 or hello@hiwealth.com.
Free Secure Document Shredding
Protect yourself from identity theft with this safe, secure opportunity to shred your most confidential documents.
Bring up to 5 file size boxes of papers and documents for FREE confidential shredding by ProShred Security. Simply drop your documents off at our Wethersfield, CT office during regular business hours to be stored in a secure container for monthly shredding.
Please call us at (800) 416-1655 or email hello@hiwealth.com to schedule a drop-off.