In today's episode, Michael and Rich discuss a very unique topic of After Tax contributions in your 401k plan. They go over how to identify if you have after-tax money in your 401k plan as well as what your options are when you retire. They also go over some very specific tax planning strategies that can be implemented only if you have after-tax money in your 401k plan. So if you have 401k plan with after-tax money in it, be sure to listen to this episode by Michael and Rich  ..read more

In today's episode, Michael and Rich cover the fascinating topic of flat fee planning. What does it mean? Well, many clients, when they engage with a fiduciary planning firm like Milestone Asset Management Group, are looking for comprehensive planning by integrating Tax Planning, Investment Management, Tax Optimized Distribution Strategy, Estate Planning, and developing a comprehensive, actionable plan. Well, many Fee-only firms do that, but then they ask you to move your money to them, and they will charge you a fee called Asset Under Management (AUM) to work with them. This is a great model ..read more

So you are lucky enough to have a pension, great now what? What is the best way for you to collect? Do you collect a monthly pension or take a lump sum? What is the best option for you? When you are faced with a decision on what do you with your pension, you only get to make that decision once. It is irreversible. In this episode, Mike and Rich discuss different ways some one can go about collecting their options, the pros and cons of one option over the other, and how to determine best which option is in your and your family's best interest. This episode follows their recent article on pensio ..read more

Choosing the right financial planner is one of the most important decisions you can make for your family’s financial future, but how do you know if the planner you are talking to is required to act in your best interest? How do you know if their expertise align with your needs? Is he/she a Fiduciary or will they try to sell you a product that might benefit them over you? Does the planner you are interviewing have regulatory disclosures, had complaints filed against him/her, has been in front of the arbitration committee, had been fined by SEC or FINRA? How do you check? In this episode, Mike a ..read more

After months of anticipation, the Democrats’ tax plan has arrived. The proposed legislation, the “American Families Plan,” is very different than what was expected. Among other measures, the new law would increase the top ordinary income tax bracket from 37% to 39.6% and impose an additional 3% ‘surtax’ on income above $5M. In addition, long-term capital gains rates would rise to 25% and step-up in basis will remain. In addition to that, the legislation proposes several new crackdowns, including new restrictions on “backdoor” and "Mega backdoor Roth IRAs and Roth Conversions. Du ..read more

So you are of an age when you can start claiming social security, but should you? What is the best strategy for you? Does it make sense to delay and do some tax planning so that less of your social security is taxable to you in the future? In this podcast, Michael & Rich go over a few claiming and tax planning strategies that could be helpful when deciding on optimal social security claiming strategy ..read more

Who doesn't want to eliminate TAXES or at the very least minimize them?  You are considering Roth conversions, but you have questions. What does it mean? Why would I do that? Will this put me in the higher tax bracket? How much in taxes will I have to pay for it? What is the best way to pay taxes on Roth Conversion? How does that impact my social security claiming strategy? What about RMDs, Backdoor Conversions?  Most importantly, how does it help me, how does it fit into my retirement plan and my family’s future?  Hear Mike and Rich (CFP®, CWS®) on their latest Fresh Perspectiv ..read more

Listen to Mike and Rich giving you a fresh perspective on the topic of cryptocurrency.  What it is, where did it come from, what it does, what are the risks, is it for real, should I invest, how can I invest? Please reach out to us to learn more about the topic and how it pertains to your unique financial situation ..read more

In today's episode, Michael and Rich discuss a very unique topic of After Tax contributions in your 401k plan. They go over how to identify if you have after-tax money in your 401k plan as well as what your options are when you retire. They also go over some very specific tax planning strategies that can be implemented only if you have after-tax money in your 401k plan. So if you have 401k plan with after-tax money in it, be sure to listen to this episode by Michael and Rich  ..read more

So you are lucky enough to have a pension, great now what? What is the best way for you to collect? Do you collect a monthly pension or take a lump sum? What is the best option for you? When you are faced with a decision on what do you with your pension, you only get to make that decision once. It is irreversible. In this episode, Mike and Rich discuss different ways some one can go about collecting their options, the pros and cons of one option over the other, and how to determine best which option is in your and your family's best interest. This episode follows their recent article on pensio ..read more