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Acumen Wealth Advisors

20 Jan 2018

What is a Roth 401(k)? Is it Right for Me?

This original article was written by retirementtimesnewsletter and can be found here. Roth 401(k) Basics Elective deferral contributions to a traditional retirement plan are contributed on a pre-tax basis and help lower your current taxable income. Roth elective deferral contributions, however, are much like a Roth IRA in that contributions are made on an after-tax basis.  Money in the Roth account and any earnings will be distributed tax-free if withdrawn after age 59½, death, disability and at the end of the […]

15 Jan 2018

Envestnet | Tamarac Wins for Best Client Portal at the 2017 Wealth Management Industry Awards

CHICAGO, Oct. 18, 2017 /PRNewswire/ — Envestnet | Tamarac (www.tamaracinc.com) announced today that it has received the 2017 Wealth Management Industry Award for best client portal. Tamarac’s client portal is a key component of its comprehensive technology platform for Registered Investment Advisors (RIAs), which also includes best-in-class performance reporting, trading, billing, prospecting, CRM and onboarding software. “We are thrilled to be honored for our client portal,” said Stuart DePina, president of Envestnet | Tamarac. “In today’s digital age, we recognize clients […]

13 Jan 2018

This is the simplest New Year’s resolution you’ll ever make

This original article was written Rheana Murray for Today. For years, I shunned the idea of setting a New Year’s resolution — I knew it wouldn’t stick. But then, I found one that did. At the end of 2014, facing professional burnout and an uncertain future, I chose one word to usher in 2015, a word I hoped would guide me during the more hectic times: calm. It became my one-word mantra for the year. The goal was to navigate […]

11 Jan 2018

11 Things You Should Never Do With Your 401k

A 401k plan through your employer is a great way to save for retirement because of the tax advantages offered. Plus, you make contributions through payroll contributions, so you can automate your savings and the contribution limits are significantly higher than for individual retirement plans. There are still pitfalls when using a 401k, however. Read on to learn 11 things you shouldn’t do with your 401k plan so you don’t jeopardize your retirement savings. 1. Ignore Matching Contributions If your employer offers […]

07 Jan 2018

9 New Year Resolutions for the almost retired

Planning to retire in 2018? Then there are some important resolutions you should make now. At the end of 2016, there were 800,000 more Americans 65 and older not in the workforce (and without a disability), Bloomberg reported — a number that will continue to rise as baby boomers age . About 10,000 baby boomers turn 65 every day, and even though the average age of retirement is rising in the U.S., it still hovers between 62 and 65 years old, […]

05 Jan 2018

Forget Resolutions. This is What You Need to Make 2018 Your Best Year Yet

Nobody looks up to a mediocre business leader. Human nature is to admire the excellent. Seeing other people do magnificent work shows us what is possible, and inspires us to achieve higher heights of our own. But wanting to be excellent and consistently producing excellent work are two different things. That’s why the vast majority of people abandon new year’s resolutions so early on. Contrary to what many may believe, performing at a high level, particularly in a manner that brings you […]

01 Jan 2018

What’s in the Final Tax Bill

House and Senate Republicans have released a final plan to resolve the differences between their tax overhaul bills. The legislation would cut taxes for corporations. American taxpayers, in large part, would also get cuts, though most of the changes affecting taxpayers would expire after 2025. Income taxes Current Law G.O.P. Bill The bill would lower individual tax rates overall. But to comply with Senate budget rules, the individual tax cuts would expire after 2025. Tax brackets Seven Seven, lower overall […]

30 Dec 2017

Top 12 Posts in 2017

As you get ready for 2018, we wanted to take a look back at the year that was. Here are the top posts from 2017. So kick back, click on the links below and stroll in 2018 like a boss. Enjoy! Bitcoin millionaire: Don’t invest in bitcoin: http://bit.ly/2Cf5Kyr Two-Thirds of Americans Aren’t Putting Money in Their 401(k): http://bit.ly/2l9ACpY The 2 changes to 401(k)s in 2017 you need to know: http://bit.ly/2jZjGTM Three Ways to Protect Your 401(k) If Trump Kills the Fiduciary Rule: http://bit.ly/2jYD6Mf The […]

22 Dec 2017

Congress passes biggest tax bill since 1986

On December 20, the House passed the reconciled tax reform bill, commonly called the “Tax Cuts and Jobs Act of 2017” (TCJA), which the Senate had passed the previous day. It’s the most sweeping tax legislation since the Tax Reform Act of 1986. The bill makes small reductions to income tax rates for most individual tax brackets, significantly reduces the income tax rate for corporations and eliminates the corporate alternative minimum tax (AMT). It also provides a large new tax […]

17 Dec 2017

Smart savings strategies reduce end-of-year taxes

While Congress bickers over a tax reform package, the rest of us are left to make sense of end-of-year tax planning. Since we don’t know the outcome and reforms would most likely not take effect until 2018, focus on the things within your control today. Maximize contributions to a 401(k) or 403(b) plan. These payroll deductions will immediately lower your taxes and put money away in a tax-deferred manner. Contributions may be met by matching contributions from an employer. A […]