Financial Planning - Alpha 1 Tax & Wealth

Financial Planning

Home/Financial Planning

Stay Cool This Summer by Checking Your Portfolio

As we head into summer, you probably have many plans. These might include seeing friends and family you haven’t seen in a while due to social distancing, or just getting out of the house a bit more to golf, go to the beach, or take a walk. While there are a number of things in [...]

2020-06-03T11:49:23+00:00May 31st, 2020|Financial Planning|

Should You Pay Taxes Now or Later?

No one can fully escape taxes, but you do have some say in when you pay them. Different types of retirement income are taxed at different times. Orchestrating these sources in retirement can take some work, as the rules for each differ. Under the umbrella of tax-advantaged income sources, there are those that require taxes [...]

2020-05-17T17:12:41+00:00May 17th, 2020|Tax Strategies, Financial Planning|

3 Ways a Financial Advisor Can Help You With Tax Strategies

They say there’s no such thing as a free lunch, but what about a tax-deductible lunch? While many of your income sources can be taxed, there are strategies to minimize your overall tax burden before and in retirement. One of the advantages of going to one professional for all of your financial planning needs is [...]

2020-05-11T10:27:28+00:00May 11th, 2020|Financial Planning, Tax Strategies|

Age Can Have Its Benefits

We typically don’t think of the word “aging” as having a positive connotation. It may bring to mind graying hairs, aching backs, and slowing down. But these things don’t always have to be true, and they don’t necessarily tell the whole story when it comes to getting older. In fact, in most cultures older people [...]

2020-03-20T19:47:04+00:00March 20th, 2020|Financial Planning, Retirement Planning|

Reminder: Don’t Forget to Take RMDs by December 31st

Tax-advantaged retirement accounts like traditional 401(k)s and IRAs offer many advantages, but some of these don’t last forever. The government eventually reaps the reward of years of tax-free compounded interest by forcing you to withdraw funds from your own retirement accounts and inherited accounts. So if you have a retirement account, be prepared for your [...]

2019-12-09T04:39:27+00:00December 9th, 2019|Financial Planning|

4 Reasons to Plan for Long-Term Care Costs

There’s a 70% Chance You’ll Need Long-Term Care We can all celebrate an increasing life expectancy as we look forward to our golden years. In 1950 the life expectancy for American men was 65.6, and for American women was 71.[1] Now it’s 76.3 for men and 81.4 for women. Of course, many people live to be older [...]

2019-11-11T17:30:58+00:00November 11th, 2019|Financial Planning, Healthcare|

Will Inflation Erode Your Social Security Benefit’s Buying Power?

In 2019, Social Security benefits received a 2.8% increase[1] – the largest since 2012. But in 2020, benefits will only see a 1.6% increase[2]. Even though inflation is low right now, the cumulative effect of inflation has eroded the buying power of Social Security by a third since 2000[3] according to the Senior Citizens League. [...]

2019-11-04T19:26:07+00:00November 4th, 2019|Financial Planning, Social Security|

A Plan for a Better IRS Experience

“I love dealing with the IRS,” said no one, ever. But, President Trump has signed a bill that will reform the IRS in an effort to make it more taxpayer-friendly. You’ll still have to pay your taxes, and rule breakers will still be punished, but hopefully the average person will have a better experience with [...]

2019-07-26T14:51:44+00:00July 26th, 2019|Financial Planning|