MANAGING FINANCIALLY DEPENDENT ADULT CHILDREN

Posted by Brad Bridgewater
On November 11, 2016

In late 1997, a regional investment management firm held a well-attended forum for its ultra-high-net-worth clients on “The Responsibility of Wealth.” The highlight of the forum and the focus of several expert speakers that day was the importance of careful planning for the transfer of wealth to a family’s younger generations. Attendees were advised not […]

6 TIPS FOR MAKING SMART FINANCIAL DECISIONS

Posted by Michael Kane, CFP
On October 21, 2016

Just like the fields of aviation and technology, the world of finance is complex and constantly evolving. Throughout your life, you’ll have to make key decisions that can significantly impact your financial future. Because every individual has different needs, goals, and priorities, there is no ‘one-size-fits-all’ answer when it comes to managing your money, but […]

USING AN HSA AS A RETIREMENT ACCOUNT

Posted by Gary Krasnov
On October 7, 2016

There are few vehicles as tax-efficient as a Health Savings Account (HSA). I like to think of HSAs as a ROTH on steroids. As you know, in most cases[1], with a ROTH account you can invest after-tax dollars that grow tax-free and are withdrawn tax-free in retirement. With an HSA, you can deposit pre-tax dollars […]

ARE YOU GAMBLING WITH YOUR INVESTMENTS?

Posted by Brad Bridgewater
On September 30, 2016

Recency bias is one of a long list of behaviors that lead people to make decisions they might not otherwise make after more thought and reflection. Other examples of these biases are groupthink, impact bias, and the gambler’s fallacy. Recency bias is the tendency, based on human nature, to rely heavily on the latest data […]

MEDICARE OPEN ENROLLMENT – PITFALLS AND OPPORTUNITIES

Posted by Michael Kane, CFP
On September 6, 2016

If you’re like most people, the information you receive about Medicare through the mail, from insurance agents, or talking with friends, family, and co-workers is confusing! And the abundance of conflicting information can leave you anxious, worrying that you’ll do the wrong thing like miss a key enrollment period or incur hefty penalties. DO ANY […]

FIDELITY BROKERAGELINK: DESIGNED FOR SAVVY INVESTORS WHO WANT MORE CHOICES

Posted by Michael Kane, CFP
On August 31, 2016

Are you a savvy 401(k) investor who prefers to do your own investment research? If so, Fidelity BrokerageLink could be a useful tool for you. WHAT IS BROKERAGELINK? Fidelity BrokerageLink is an additional trading platform offered by Fidelity Investments to many of their 401(k) plan participants. It is a self-directed brokerage trading option that offers […]

THE BENEFITS OF ADDING AN AUTO-INCREASE TO YOUR 401(K) CONTRIBUTIONS

Posted by Michael Kane, CFP
On March 18, 2016

As a pilot, you have many factors to consider when planning for your retirement; 401(k), pension (if retired military or if PBGC through an airline), Social Security and any personal IRAs or savings and taxable investment accounts. In most pilot contracts, the airline makes large contributions to your 401(k), but it is also important to […]

CHARITABLE TRUSTS

Posted by Michael Kane, CFP
On February 7, 2016

A charitable trust is a trust established for the dual purpose of donating to charity and providing for a non-charitable beneficiary (such as your children). When a charitable trust is used, the gift to charity is also referred to as a split-interest gift because the gift is split between a charitable beneficiary and a non-charitable […]

LOSING AN ENGINE ON TAKEOFF

Posted by Brad Bridgewater
On December 11, 2015

Empathy gap is the inability to predict your own future behavior under stress. In other words, the likelihood of you making an emotional decision instead of an intellectual one. As a pilot, this is the reason the simulator throws every nightmare possible at you during training. Your training prepares you to make the right decisions […]

HOW ARE RMDS CALCULATED?

Posted by Brad Bridgewater
On November 6, 2015

RMDs, or Required Minimum Distributions, are calculated by dividing your traditional IRA or retirement plan account balance by a life expectancy factor specified in IRS tables. Your account balance is usually calculated as of December 31 of the year preceding the calendar year for which the distribution is required to be made. Example(s): You have a […]