Financial Planning

Taxes, whether we admit it or not, drive a lot of our personal finance decisions. Avoiding or lowering them can influence where we choose to live, what kind of car we buy, where we send our children to school, whether we purchase a house, and many other everyday decisions. Everyone tries to limit the amount of taxes they pay. Taxes play a large role when we invest for retirement, as well.

The rationale for speculation over taxing Roth IRA withdrawals is that the tax break looks far too generous. Other tax-sheltered retirement plans, after all, are merely tax-deferred—meaning you’ll pay taxes on them eventually. The earnings on Roth IRAs are effectively tax-exempt.

During this difficult time when many of us are working from home, I would like to assure you that the team at Robert Gordon & Associates is here to support you in any way.

We want to pass along a few resources for you and your loved ones. 

Grocery Delivery Services:

Credit cards: A minimum payment might help you in the short term but could be one of your most expensive decisions.

Want to be your credit card company’s favorite customer? Just max out your card’s limit, agree to pay interest at a rate of 18 percent to 25 percent, and make only the minimum payment each month.

Wealth management is a financial services term that gets thrown around a lot and, yet, is not well understood even by people in the business. Wealth management and financial planning are very similar paths. They both assist clients with investment decisions and goals. However, what uniquely distinguishes the field of wealth management from financial planning is the clients.

Since World War II, obesity rates in the United States have skyrocketed, our net national savings rate has plummeted and American adults and kids alike have allocated a rapidly rising proportion of their free time to staring at electrons dancing on screens.

In addition to the flowers, the chocolate, and the good champagne, remember these lasting financial planning ways to say I Love You every day to your dearest Valentine:

Follow the Golden Rule

Be as honest and accountable to your mate as you would like them to be with you about spending decisions and preferences.

We understand that tax reform may be a lot to take in. Not to worry, we’ve gathered these key
topics to help keep you informed so you can have peace of mind.

Standard deduction

A lot of people have fantasized about suddenly striking it rich. They imagine that a financial windfall – inheriting a fortune from a distant relative, collecting royalties for a best-selling novel, or even winning the lottery – would make all their dreams come true.