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Category: Plan Wisely

Tax Reform Act of 2017

Tax Reform Act of 2017

Every new year brings a new set of financial planning challenges and opportunities. With the passage of the tax reform bill at the end of 2017, the new year is no exception. These new rules represent the most sweeping change in the tax code in a number of years, with most of the new rules taking effect in 2018. The final version of law differed from several proposed versions in terms of what changed and what didn’t. The number of tax…

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Four Components in Pricing Long Term Care Insurance

Four Components in Pricing Long Term Care Insurance

​ Published in Bradenton Herald: November 15, 2016 By GARDNER SHERRILL  |Investor’s Column November 15, 2016 4 Components in pricing Long Term Care Insurance ​November is National Long-term Care Awareness month, so in memory of my father who had Alzheimer’s, I thought I’d dedicate an article to this important subject. What is the cost of long term care insurance? As always in any complicated transaction – the answer is always “It depends”. There are four primary determinants that I will…

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Five Simple Ideas for Tax Efficient Investing

Five Simple Ideas for Tax Efficient Investing

​ Published in Bradenton Herald: September 27, 2016 By GARDNER SHERRILL  |Investor’s Column September 27, 2016 Five Simple Ideas for Tax Efficient Investing I’ve written fairly extensively over the past year about investing in expensive markets. If you believe, as I do, that the next five years may produce lower returns, then managing frictional costs becomes even more important. As we move quickly towards the year end of 2016 I thought I’d focus my efforts today on some strategies you…

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Brexit Highlights

Brexit Highlights

​High-Level Takeaways · On June 23, British citizens voted roughly 52 percent to 48 percent in favor to leave the European Union. · Short term, we expect market volatility to pick up – Asian markets’ response and the Dow Jones Industrial Average futures swinging wildly overnight as the results came in may be a bellwether of what’s to come. · In the meantime, the U.K. has a lot to work out – All political accords, treaties, trade agreements, and many regulations will have…

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The Current Retirement Dilemma

The Current Retirement Dilemma

​ June 7, 2016 The Current Retirement Dilemma Retirement planning is largely about setting expectations, trying to manage risks or uncertainties and increase the probabilities of a successful retirement as it is defined by each client. The Society of Actuaries accounts for 15 risks overall which they published inthis hyperlinked report. For today’s purposes I’m going to concentrate on Longevity Risk and Sequence Risk. Longevity risk refers to the risk of outliving your assets, resulting in a lower standard of living,…

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Retirement Alchemy: Turning After-Tax Plan Contributions into Roth Savings

Retirement Alchemy: Turning After-Tax Plan Contributions into Roth Savings

​In medieval times, alchemists sought methods for transforming ordinary metals into gold. Today, just about every adult searches for a means of transforming savings into a retirement’s worth of income. Recently, they received help from an unexpected source – the Internal Revenue Service (IRS). In 2014, our nation’s tax collection agency engaged in a bit of retirement alchemy when it issued Notice 2014-54. Despite being tagged with an uninspired moniker, the notice gave participants in employer-sponsored retirement plans an opportunity to…

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Where is the Best Place to Retire?

Where is the Best Place to Retire?

​It all depends on you. Thanks to the Baby Boom generation, pre-retirees and retirees have a lot more options than did previous generations of Americans. There is a lot to consider before you decide where to live during retirement: your savings and investments, monthly income, family, friends, legacy, work options, weather, interests, health, and a variety of other factors. As you determine your priorities, keep these options in the back of your mind: Tax-friendly states: An important issue for many people…

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State Rankings and Taxes

State Rankings and Taxes

Wallet Hub has listed taxes by states and broken them down into categories. This analysis attempts to compare the states with each other and it delves deeply into taxation.  Click on your state to see its ranking or click on the WalletHub logo below to go to the full analysis.  Many thanks to those at Wallet Hub who assembled this data. Source: WalletHub

If You Could Live Anywhere

If You Could Live Anywhere

If you could live anywhere, where would you live? If cities are your cup of tea, then here is some good news. The 2016 Worldwide Cost of Living Report compares the prices of 160 products and services – from food and drink to domestic care and private schools – in cities around the world. It found the cost-of-living in many cities fell during 2015 thanks to lower commodity prices, weakening currencies, and geopolitical unrest. Be warned: a lower cost-of-living doesn’t mean…

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