Portfolio Advisors Blog

Our Blog postings occur from time to time when we have an interesting article or opinion to share. We hope that you will find our postings of interest and encourage to forward them on to your family and friends.

Prepare for Sweeping New IRA Legislation

Legislation passed by the House of Representatives on May 23rd would dramatically change current IRA tax law.  The bill, entitled the “SECURE Act", would change the age at which one must begin taking IRA distributions. It would also change distribution requirements for IRAs inherited by children or other non-spousal heirs. The bill passed with wide bipartisan support in a vote of 472-3. 

Under current IRA law, one must begin taking their required minimum distributions at age 70 ½. The "SECURE Act" would allow IRA owners to delay taking their required minimum distributions until age 72.  This change would allow IRA owners to benefit from the advantage of tax deferral over a longer period of time.  Most will view this as a positive change.

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3 Ways to Know When You Are Ready to Retire

1. You’re financially ready.

The most common question we field from our clients is, “How much do I need to retire?” While there’s no magic number to hit, a few key checkpoints are:

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2019 Holiday Office Closures

Portfolio Advisors, Inc. will be closed for the following 2019 holidays on the dates listed below:

  • Monday, January 21st in observance of Martin Luther King Jr. Day
  • Monday, February 18th in observance of Presidents' Day
  • Friday, April 19th in observance of Good Friday
  • Monday, May 27th in observance of Memorial Day
  • Wednesday, July 3rd in observance of Independence Day
  • Thursday, July 4th in observance of Independence Day
  • Monday, September 2nd in observance of Labor Day
  • Thursday, November 28th in observance of Thanksgiving
  • Friday, November 29th in observance of Thanksgiving
  • Tuesday, December 24th in observance of Christmas
  • Wednesday, December 25th in observance of Christmas

With each office closure we will be back the following business day during normal business hours.

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Preparing for the Unexpected - Key Planning Considerations for Long-Term Care Needs

Preparing for the Unexpected - Key Planning Considerations for Long-Term Care Needs

Many of our clients anticipate the likelihood that some level of long-term care may be needed at a future date. As we work together toward constructing comprehensive financial plans, addressing and preparing for uncertainties is a critical consideration. Costs for various levels of care such as in-home, assisted living and skilled nursing may be significant. A common approach to addressing the impacts of long-term care costs is analyzing trade-offs between self-insuring (relying on income sources such as Social Security, pensions, retirement accounts, etc.)  or purchasing / maintaining a long-term care insurance policy. As financial planners, our focus is creating viable game plans to combat these uncertainties with the appropriate reflection and preparation. 

According to Morningstar statistics, roughly 52% of Baby Boomers turning age 65 will experience a long-term care need, averaging a 2-year facility stay during their lifetimes. Given these staggering statistics, periodic financial assessment is imperative. Utilizing sophisticated financial planning tools, our team works with clients in determining the potential effects of future care costs. Once general information is collected, our typical approach is then to demonstrate specific events that may adversely affect an individual’s standard of living. Our team has the capability to model alternative financial decisions, ideally arriving at an agreeable solution to diminish future financial stresses. As an example, we may determine (though some assumptions) purchasing or maintaining a long-term care insurance policy may be most beneficial and demonstrate the policy benefits for when certain levels of care are needed. More specifically, further analysis may include illustrations to trade-offs between payments for long-term care insurance premiums versus alternative uses for these dollars. Through our periodic meeting reviews, the foundations to a comprehensive financial plan is paved. 

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A Transformed Investor's View of Market Uncertainty

Markets have been up and down this year, which can alarm many investors.  During periods like these, hearing stories about how other people deal with uncertainty can be helpful. 

Our story is from Dave Goetsch, an executive producer of the popular television show, The Big Bang Theory.  Even though he and other writers on the show make common sense out of complicated science for a living, Dave used to respond to market fluctuations with panic rather than logic.  His point of view has changed fundamentally when he learned that there was a different way to think about investing and discovered a new path for his financial life. 

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20 June 2019
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Ave.#105
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559-432-8400