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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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Retirees Can Protect Their Retirement Money With Better Asset Allocation

Protect retirement money with better asset allocation

Part 2 in our series: 5 Ways Retirees Should Protect Their Money During Retirement After 23+ years as a Financial Advisor, I can attest to the truth that retirees can protect retirement money with better asset allocation. Asset allocation is a discipline. It is the process of assembling a portfolio that is diversified in the …

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Money During Retirement

5 Ways retirees should protect their money during retirement

In this series, about the 5 Ways Retirees Should Protect Their Money During Retirement, I have decided to focus on one topic per post because each of the five points that comprise this series requires considerable detail, including some research and analysis to make this 5-part post as meaningful to you, my readers as possible. …

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Why Should You Hire An Independent Financial Advisor?

Why should you hire an independent financial advisor?

A question that you may have asked yourself is why you should hire an independent financial advisor? A common question that I hear from people who are not familiar with the difference between a financial advisor who is independent vs. those that are employees of brokerage firms is, “Aren’t you guys all the same anyway?” …

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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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