Connections for Success



Minimizing Taxes on Employer Stock in Your 401(k) Plan
Colin O’Neill

If you are approaching retirement and your 401(k) plan contains significant holdings in appreciated employer stock, you may be able to minimize your tax liability related to that stock. This strategy, which takes advantage of the net unrealized appreciation (NUA) rules, is not right for everyone, but it is worth exploring before you start withdrawing […]


Worried You Do Not Have Enough To Retire? Consider Working a Little Longer
Maureen Callahan

If you are concerned about funding your retirement, consider working a little longer. A recent study confirms what financial advisors have been saying for years: Extending your work life — even for a short time and even at a reduced salary — can have a major impact on your desired lifestyle once you do retire. […]


Welcome to the Gig Economy! Now, Calculate Your Taxes

One of the most dramatic effects of COVID-19 on the U.S. economy is the increase in popularity of “gig” or freelance work. Gig workers include those performing essential jobs, such as delivering groceries to socially-distancing consumers. Others used their specialized skills to develop consulting and other independent businesses. According to the independent talent provider MBO […]


A Look at the Roth IRA Five-Year Rule
Tanya Gierut, Larry A. Ruff

The Roth IRA can be an attractive retirement savings vehicle due to the benefits they offer. Contributions are nondeductible on your income tax return, but qualified withdrawals of both contributions and earnings are tax-free and there are no required minimum distributions during the owner’s life. To ensure that withdrawals are tax- and penalty-free, it is […]


Financial Literacy for the Rising Generation and Beyond
Luke Schillo

It is very common for families of affluence to have competent professional advisors to help them manage their investments, their legal affairs and their business operations. So, if a family member is not planning on a career as the Chief Executive Officer or Chief Financial Officer of the family business, or not planning to manage […]


RMDs Are Back: Here Is How To Soften the Tax Blow
Dan Newman

To provide some relief during the COVID-19 pandemic, the CARES Act suspended required minimum distributions (RMDs) from traditional IRAs and employer-sponsored retirement plans for 2020. No such relief is available in 2021. Therefore, many retirees will need to take taxable RMDs by the end of this year. Fortunately, a couple of strategies are available to […]


So You Have Dipped Into Savings…What To Do Next With Your Retirement Account
Eileen Cozzi

Tapping an IRA, 401(k) plan or other tax-deferred accounts to pay current expenses can derail your retirement savings plan. Therefore, it should be viewed as a last resort. Unfortunately, many people reached that point in 2020 or earlier this year due to COVID-19’s financial impact. If you withdrew or plan to withdraw tax-deferred savings as […]


Asset Class in Focus: Alternative Investments
Luke Schillo

Despite what their name suggests, “alternative investments” have become an increasingly mainstream part of the investment world over the past decade. Most investors have some knowledge of alternative investments as an asset class, but there is still quite a bit of confusion about this eclectic collection of investment types. While there is no official comprehensive […]


Three Tips for Making Retirement Less Taxing
Jacqueline N. Janczewski

Recent retirees are often surprised by the size of their tax bills. As they soon learn, income taxes during retirement can be significant. However, with some tax planning before retirement, it is possible to soften the blow. Here are three tips to consider implementing. Create a Bucket List This is not the kind of bucket […]


Keeping Your Financial Plan Aligned With Your Goals in Today’s Market Environment
James V. Petitpren, II

The extreme market volatility of the past months has left many investors wondering how their investment portfolios have held up during 2020’s rollercoaster ride. We believe that rather than just thinking about the status of your investment portfolios relative to certain short-term equity or fixed income benchmarks, investors should remain focused on the long-term rate […]

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