Personal Financial Planning
Helping Kids Start Saving Early
Submitted by Mission Financial Planning on January 20th, 2021What is a Back Door Roth IRA?
Submitted by Mission Financial Planning on December 30th, 2020
Making IRA contributions is more complicated than it used to be; there are traditional, non-deductible and Roth IRAs, and each has different income thresholds for eligibility along with rules about whether you or your spouse have retirement plans at work. However, if you don’t qualify to make a contribution directly, with a couple of extra steps, you can make what is called a &ldquo
Insurance Check Up
Submitted by Mission Financial Planning on December 13th, 2020
This year has sparked a lot of conversation about insurance. COVID brought the prospect of death to the forefront for some, and many had a temporary loss of income which gave them a glimpse of what life might look like without a paycheck. These are good motivators for checking both your life and disability insurance policies to make sure you have the right coverage.
Maximizing Tax Benefits for Charitable Giving
Submitted by Mission Financial Planning on December 8th, 2020When Can I Retire?
Submitted by Mission Financial Planning on November 24th, 2020
A common question I hear is “when can I stop working?” Not that the client necessarily wants to stop working, they just want to know that they can stop. That would be my definition of financial independence; knowing that your investments or other income is enough to support your lifestyle, independent of your work.
Year-End COVID Tax Check Up
Submitted by Mission Financial Planning on November 20th, 2020
We’re doing a lot of year-end tax checks with clients; it’s a regular November/December activity, but a tax check is even more important this year. It’s been an unusual year - some clients have more taxable income than usual (unemployment, PPP, HHS/Cares Grants) and others have lower-than-usual income (missed paychecks, skipped Required Minimum Distributions). We&r
Do you have enough cash in your portfolio?
Submitted by Mission Financial Planning on November 13th, 2020Could More Money Make You Happier?
Submitted by Mission Financial Planning on October 9th, 2020COVID Cash Flow Check-Up
Submitted by Mission Financial Planning on September 18th, 2020
Financially, it has been an unusual and stressful year. We are doing a series of “check up” articles to look at different areas of your finances to see what has changed, and what you might need to check up on to be sure your financial plan is still on track. The focus of this post is cash flow; many clients’ cash flow was affected significantly this year