StampNotes
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Josh takes a break from Sustainable Investing to describe the primary differences between the Traditional and Roth IRA. The focus is on the benefits and flexibility of the Roth IRA—possibly the most powerful retirement planning tool for most investors. TRANSCRIPT: Hey, it’s Josh Weller here. It’s Roth IRA Awareness Month at Cary Stamp & Company,…
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Leading financial advisor based in Jupiter, FL, Cary Stamp, CFP®, shares the Roth IRA conversion strategy that many people are unaware of, but can make a huge difference on taxable income in retirement. This is especially important if you’re within a few years of retirement or if you’re in that gap between the time that…
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Roth IRAs are a Crucial Tool for Lowering Taxes in Retirement. Roth IRAs are after-tax retirement accounts, in contrast to traditional IRAs and most employer-sponsored retirement plans such as 401(k) programs that are tax-deferred accounts (pre-tax contributions). Because of the unique tax structure, Roth IRAs have several advantages. First, what is an IRA? IRA is…
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Using Roth IRA Conversions to Reduce the Tax Burden of Required Minimum Distributions Few People Understand the Tax Implications of Required Minimum Distributions (RMDs) in 401(k) and Traditional IRA accounts. When you reach age 72, you are required to start taking distributions from most traditional retirement accounts. You can always withdraw more, however you cannot…
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First, Let’s Look at How Social Security Benefits Work. Before we move on to my tips for maximizing Social Security benefits, here’s a quick primer on how the system works. To become eligible for benefits, you need to earn what’s referred to as 40 “credits.” A credit is essentially each quarter per year worked, so…
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Financial advisor Cary Stamp shares a brief overview of the three investing books that had a major impact on his investment management and financial advisory career. SCHEDULE A CONSULTATION: TRANSCRIPT: I’m Cary Stamp with Cary Stamp & Company, Principled Wealth Advisors. I want to share with you three books that have…
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Financial advisor Cary Stamp shares an uncomfortable secret that can help you recover from financial adversity or a mistake that you feel vulnerable or embarrassed about. Don’t be afraid to admit your mistake and seek the assistance of a financial advisor to get back on track. SCHEDULE A CONSULTATION: TRANSCRIPT: Recovering from…
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The Secure Act eliminated the Stretch IRA option for beneficiaries to distribute inherited IRAs over their lifetimes. Now there’s a 10-year distribution maximum. If you’re close to retirement, have a lot of money in retirement plans, and want to maximize assets passed on to beneficiaries when you’re no longer here, there’s a great solution. …
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Financial advisor Cary Stamp, based in Jupiter, FL, discusses the ability to maximize savings for family education expenses while reducing your income taxes, using 529 Plans. Tax-free distributions from these plans can be used for elementary and secondary private school, and undergrad and graduate college. SCHEDULE A CONSULTATION: TRANSCRIPT: I’m Cary Stamp, and this…
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Cary Stamp, leading financial advisor based in Jupiter, FL, shares his view on how individuals and families should approach investment management during recessions and market declines. SCHEDULE A CONSULTATION: TRANSCRIPT: Hi, I’m Cary Stamp. I’ve gotten a lot of questions lately about what’s going on in the markets and what’s happening in…
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