What Is a “Paradise Letter” and Why Do I Need One?
Runey & Associates Wealth Management
by Tyler Peterson
3w ago
The job of an executor is to secure and distribute assets of a deceased person pursuant to their wishes.  These wishes are ideally spelled out within legal documents such as wills and trusts. While wills and trusts play an integral role in directing the assets in one’s estate, they do not typically address some of the most important questions the executor needs answered: How does the executor know what assets and liabilities you have? How can he or she access your accounts? Who are the financial professionals that you work with? Where do you keep pertinent information such as real estat ..read more
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When is the Best Time for a Roth Conversion?
Runey & Associates Wealth Management
by Tyler Peterson
3w ago
We want to start this article with a disclaimer: This article is stating the ideal situation for a Roth conversion, not necessarily the only time when a conversion would be advantageous. With that being said, we’ll get right to it! One of the best opportunities you can take advantage of during a stock market pull back period is to execute a Roth conversion. This could help you save money on taxes on subsequent growth and withdrawals after the stocks bounce back.  For example: in May of 2022, the S&P 500 was down over 17% YTD. Since January of that year, stocks, indexes, and ..read more
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What To Do When Banks Are Failing
Runey & Associates Wealth Management
by James Runey
1M ago
While not commonplace, banks do fail for a variety of reasons. When they do we get questions such as, “should I pull out my money” or “what should I do because these banks are failing?” The answer is do exactly what you have been doing, which is have faith in the portfolio we built for you and stay the course! Banks failing is not good. However, as with all macroeconomic happenings, it does not mean an individual investor should try to make investment moves to do something about it. Banks are still safe, and cash is insured by the federal government up to $250,000 per depositor per bank. I ..read more
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Sign up for our 6 Keys to Exceptional Retirement class!
Runey & Associates Wealth Management
by Linda Runey
2M ago
The 6 Keys to Exceptional Retirement course is for people who want to make wise retirement decisions but aren’t sure where to start. This course is for you if you: Want to Find Confidence in Your Decision Making? Concerned about outliving your money? Not sure how to protect the wealth you spent a lifetime building? Wondering if you have enough to finally retire? Are You Someone Who Is? Looking to provide retirement income? Worried that your portfolio could lose ½ its worth in the next market downturn? Anxious to ensure your spouse will be well taken care of? In the 6 Keys to Exceptional R ..read more
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Protect Yourself From the “One Big Mistake” by using a Financial Advisor
Runey & Associates Wealth Management
by Tyler Peterson
2M ago
When hiring a financial advisor many people mistakenly believe that the value-add comes in the form of higher rates of return. For most people, the #1 value-add has little to do with the rate of return and everything to do with protecting you from the one big mistake. There are many situations that can cause catastrophic financial damage if not handled properly. Below are just a few examples that we have encountered: 1. Retirement Account Rollovers While the concept of rolling over one’s employee 401k, 403b, etc. to an IRA may sound simple, it can be anything but. These retirement accounts ca ..read more
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5 Similarities between Financial Planning and Project Management
Runey & Associates Wealth Management
by Linda Runey
2M ago
If you have ever been through a system migration at your place of work, you know that it will be a bumpy ride. You have set up a Project Management team and spent months, if not years, planning for the transition. Mapped out all potential scenarios and asked all the right questions: Do we need a new cost center here or a new workflow there? What process changes do we need to make so the new system works better than the old system? Have we thought about training all the people who will be required to work in the new system? Do we have scripts for how to handle clients in case something does no ..read more
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30 Things to do in Mount Pleasant, SC
Runey & Associates Wealth Management
by Tyler Peterson
2M ago
Whether you were born and raised in Mount Pleasant or just moved into town, you’ve certainly noticed it is a happening place. No matter how you enjoy spending your free time, this small coastal town has plenty to keep you entertained. Having been located in Mount Pleasant for almost a decade, the Runey & Associates team has compiled a list of our top 30 things to do in Mount Pleasant to help you discover the most unique, beautiful, and delicious scenes Mount Pleasant has to offer. Runey & Associates at Habitat for Humanity 1. Lend a helping hand with East Cooper Habitat for Humanity. 2 ..read more
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What You Need to do to Prevent Financial Fraud from Happening to You
Runey & Associates Wealth Management
by Tyler Peterson
2M ago
Financial Fraud Is on the Rise. What Are You Doing to Prevent Financial Fraud from Happening to you? According to the Federal Trade Commission, consumers lost almost $8.8 billion due to reported fraud in 2022. This represents a greater than 30% increase from that of 2021! What are some of these common types of financial fraud? Imposter Scams The most common type of financial fraud is imposter scams, which are where fraudsters portray themselves as someone they are not in order to obtain your personal information and then use it to steal your money. Oftentimes, fraudsters will identify thems ..read more
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Credentials in the Financial Services Industry and What Makes Them Important
Runey & Associates Wealth Management
by James Runey
2M ago
Credentials in the Financial Services Industry can be confusing – have you ever come across someone’s title that includes the “alphabet soup” behind their name? Perhaps on LinkedIn you have stumbled upon someone whose name looks like this: John Doe, BA, MBA, CAI, FPS, EFC, IAA, ICC, RCM, ICSR When choosing which professionals to use, their credentials can certainly exemplify knowledge and skill in a certain field, but it is important to be able to differentiate respected industry credentials from those that can be obtained in a matter of several days or do not have an experience requirement. A ..read more
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Banks Are Failing: What Do We Do?
Runey & Associates Wealth Management
by James Runey
2M ago
Over the last several days, there have been numerous headlines and a whole lot of news coverage regarding the failure of Silicon Valley Bank (SVB). We have been getting questions such as, “should I pull out my money” or “what should I do because these banks are failing?” The answer is do exactly what you have been doing, which is have faith in the portfolio we built for you and stay the course! Banks failing is not good. However, as with all macroeconomic happenings, it does not mean an individual investor should try to make investment moves to do something about it. Banks are still safe, a ..read more
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