Lloyd A. Sacks, a financial adviser at Bridgewater-based Sacks & Associates LLC, evoked an old adage when talking about the current conditions: The market likes to take the stairs up, and the elevator down.
Linda, 63, had recently been granted power of attorney over her father’s affairs, due to his declining faculties. Robert had been a successful family doctor who had built a large practice over the years and accumulated significant wealth over his working career. Now in his 90’s, his ability to manage his own healthcare and finances had diminished. His investments and savings totaled over $10 million in liquid assets with numerous financial institutions.
According to Lloyd Sacks, a Certified Financial Planner and managing director of the private client group at Sacks & Associates, contributing to a 529 plan has some benefits when it comes to your taxes. “Some states allow a deduction for contributions made to in-state 529 plans,” he said.
Passions routinely lead to bad decisions. Retirement savers must control their passions. They must possess the discipline to sit quietly when everything in their heart (not their brain) tells them they must act.
The numbers are in. The fourth quarter of 2018 brought the markets well beyond correction territory and to the precipice of a bear market. For the first time since the 2008/2009 market crash, we’ve had the opportunity to glimpse at whether the various “fixes” to target date funds following that debacle have created a more durable vehicle.
One of the biggest disadvantages that participants face when taking a loan from a retirement plan is that the dollars used to pay the interest on the loan from the account are taxed twice. According to Lloyd Sacks, managing director of Sacks & Associates and a certified financial planner professional, the first tax occurs when the participant earns the funds and pays income tax on that earned income.
Judy had always enjoyed a relatively stable financial position throughout most of her life. After a successful career as an attorney working in her own private practice, Judy managed to pay off the mortgage on her home and for the most part was completely debt free. Excluding the value of her home, her net worth
Karianne and Bill are in their late 30’s and earn more than $700,000 a year together. Karianne is a partner at a large law firm and Bill is an IT technician at a pharmaceutical company. The couple has a daughter and a son, both under the age of seven. The time demands of their work
As we’ve grown with our client base, we’ve found that more and more of you are asking for our “take” on important issues related to your finances and financial futures.
There are more than 2,700 rules that govern Social Security. A typical married couple has more than 500 possible ways in which to file for their Social Security Retirement Benefits. If you are divorced or widowed, the filing rules can be even more complex. Agents at the Social Security Administration (SSA) are prohibited from providing
