Strategists who work with couples have found there to be a few conflicts that are most common between them. Different priorities: financial management done predominately by one partner, helping adult children, and disagreements over an inheritance. Each seems to resonate in different ways as we all know how common it is to have one partner […]
Financial Conflict Between Couples Read More »
We’ve been asked a few questions regarding what happens to those portions of your estate that aren’t treated consistently with what you say in your will. Many people assume wills and trusts are the pillars of a perfect estate plan. However, asset titling–the way you own an asset–is just as critical. Conflict instructions can create
Having just taken a look at your traditional IRA, you may be wondering if the time is now to convert it to a Roth IRA. Choosing between a Roth and a traditional IRA requires you to estimate what your tax situation will be when you start drawing from the account. This analysis is different from
Roth IRA Vs Traditional IRA Read More »
It’s usually around this time of year, when individuals are preparing paperwork for filing their tax returns, that we are asked what the deadlines for contributions are, and what happens if one spouse is non-working but still wants to make IRA contributions. As a general rule, you have until tax day to make IRA contributions
It’s That Time of Year Read More »
What does retirement really, truly mean? What are your plans for after you retire? We’ve been thinking about this recently. Many would define it as “retreating from the ‘busyness’ of life.” When do you plan on retiring? How old will you be? How long do you think you’ll spend in retirement? Getting away from all
The Busyness of Life Read More »
It’s crucial that retirees take full advantage of every available tax break they can. This is especially true if you’re on a fixed income; you need that money to last, so every cent counts. But holding on to your money during retirement is easier said than done. It’s easy to miss valuable tax-saving opportunities (i.e.,
Tax Breaks Retirees Can Use in 2024 Read More »
We’ve heard many times that it’s a good idea for retirees to put off receiving Social Security payments, as waiting can allow you to get more out of them than if you were to start as soon as age permits. One way to make this more feasible is to include annuities in retirement strategies to
Retirement is a new beginning. As a new retiree, you enter a new stage of your life, where your time is now regulated by you and you alone, rather than revolving around your work. Unfortunately, many new retirees find this isn’t what they’d expected it to be. Many people begin to feel bored, and worry
Stay Active During Retirement Read More »
Starting in 2024, due to the Secure Act 2.0, up to $35,000 of the money in a 529 college savings account to be rolled over to a Roth IRA for the beneficiary of the 529 account. Although funds in a college savings account going unused is rare, it’s not unheard of, and now you may
Money in College Savings Accounts Can Instead Be Put Towards Retirement Read More »
With tax season rapidly approaching, the IRS is taking steps to remind taxpayers how they can prepare to file their 2023 federal tax return. A little advance work now can help you have the paperwork ready to file your returns quickly and accurately. As part of this effort, the IRS has created pages outlining things
Getting Ready For Tax Season Read More »
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Messina’s Wealth Management, LLC MS Lic #1503388
Messina’s Wealth Management, LLC
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Dominick Messina
LA Ins Lic# 222159
Dominick Messina
MS Lic #7176300
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