Recently, I wrote about the opportunities and potential pitfalls of employing a Roth IRA conversion strategy. In a previous article for those who otherwise would not qualify due to income limitations, I also presented a back-door way to get money into a Roth IRA. Although these techniques require careful thought and analysis, I can also present a much simpler way to take advantage of Roth IRAs that is often overlooked. Not everybody qualifies to contribute to a Ro…

If you’ve read the financial press lately, you’ve seen many articles trumpeting the benefits of converting traditional IRAs to Roth IRAs. The Roth conversion is the latest ‘hot idea’ in financial planning, because of a new provision in the tax laws to take effect January 1, 2010. This revision repeals the income limit and permits the tax bill to be spread over the two years following the conversion year. This change is undoubtedly a great opportunity for some peopl…

This past September, my three-year term as a member of the Garrett Planning Network Member Advisory Board ended. It was a privilege to serve on the inaugural panel of advisors, whose role is to provide a sounding board for Sheryl Garrett as she steers the organization toward her vision to make competent, objective advice accessible to all people. I’m please to have played a small role in helping shape the direction of the organization. Sheryl pioneered the hourly…

I must confess that I do something, which I tell my clients not to do. I watch CNBC. I can’t help myself. I like watching CNBC, even though I don’t care about the daily machinations of the stock market or what’s happening with individual stocks. You can go crazy from the cacophony of financial information and endless commentary from talking heads throughout each business day. I watch more to follow the major events and trends that shape the financial markets. Ever…

The media loves milestones. Last month, there was a proliferation of “One Year Later” articles to mark the anniversary of the Wall Street meltdown. I almost wrote one myself. Last week, CNBC ran a special called “Dow 10,000” to commemorate the stock average breaking the milestone. It was a feel-good story, but not nearly as exciting as their first “Dow 10,000” special 10-1/2 years ago when the stock market hit the landmark level the first time. They didn’t have a…