Estate Planning

CONVERT REQUIRED MINIMUM DISTRIBUTIONS INTO TAX FREE INCOME

Convert required minimum distributions into tax free income

It is currently happening to some and eventually, this will likely happen to all of us. I am referring to Required Minimum Distributions (RMD). The RMD is your required minimum distribution amount which the Internal Revenue Services requires you to withdraw each year from your IRA, SEP-IRA, Simple IRA or retirement plan account when you reach age …

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Avoid Making Retirement Planning Mistakes

Avoid making retirement planning mistakes

At all costs, major retirement planning mistakes can and should be avoided just like Caffeine. Caffeine? Yes, caffeine! Hang in there with me for a minute and you will understand what I’m talking about. When done properly, the process of retirement financial planning should greatly reduce the potential for costly mistakes during retirement. As a …

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Maryland Fee-Only Financial Advisor

Maryland fee-only financial advisor

As the President of an independent wealth management and investment advisory firm, I am honored that Investopedia has chosen to partner with Wealthcare Financial Group, Inc. to bring quality personal finance education to their millions of readers throughout the United States and abroad. Schedule an appointment with Wealthcare Financial Group, Inc. to discuss the following: …

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Financial Literacy: Key to Creating and Sustaining Wealth for African Americans

Financial literacy: key to creating and sustaining wealth for african americans

Why Financial Literacy? A major differentiating factor between those who understand how to make money work for them has everything to do with financial literacy, which is also why I believe that it is the key to creating and sustaining wealth for African Americans. According to the 2009 Consumer Financial Literacy Survey, “54 percent of …

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