When is the best time to get serious about retirement planning? Audrey Grubman breaks down the retirement planning timeline.
Dillon McGill, CFP® breaks down the most common retirement spending strategies — and the one we favor for our clients.
“Is buying a home a good investment?” This is one of the most common questions we get in our business. That’s not surprising, since a home is most people’s largest single asset, and so many of our clients live in the hot San Francisco Bay Area real estate market, where price appreciation has been in the double digits for several years. The answer to this question is rarely simple, but in most cases, buying a home is a good investment because of the intangibles—joy, stability, pride—it provides to its owner. However, it’s important to maintain grounded financial expectations, whatever youRead More
Health savings accounts (HSAs) are one way to mitigate the effects of the ever-increasing costs of healthcare in the U.S.
How much money will you need to retire? Answering this question is a cornerstone of the financial planning profession.
Many employer plans now contain both a regular 401(k) plan and a Roth 401(k) option. The regular 401(k) allows an employee to defer up to $18,000 of compensation in 2017 ($24,000 for folks age 50 or older) before taxes. The benefit of regular contributions is that you reduce your taxes at the time of contribution, allow the earnings in the plan to compound over time, and defer taxes until you withdraw funds during retirement, when you will possibly be taxed at a lower rate. Contributions to a Roth 401(k) are made after-tax, i.e., contributions do not reduce your taxable income/taxesRead More
A donor-advised fund (DAF) is like a mini-foundation that anyone can set up without the expense or a lot of paperwork. For our clients, it can be a great way to donate to charity without hassle, but it comes with other perks. First, how a donor-advised fund works: Through a custodian such as Fidelity or Schwab, you set up your DAF and deposit money or appreciated assets into it. You then direct the fund to distribute cash to any qualified non-profit organization, such as the Sierra Club or Doctors Without Borders. Why donor-advised funds are great, in my opinion: YouRead More
If you’re like many people, the information you receive about Medicare through the mail, from insurance agents, or by talking with friends, family, and co-workers can be confusing. And the abundance of conflicting information can leave you anxious, worrying that you could do the wrong thing—or nothing at all—and miss a key enrollment period or incur penalties forever. Here are some common misconceptions we’ve come across: “I should wait until Open Enrollment in the fall to sign up for Medicare.” “I received a brochure that says I HAVE to enroll at age 65.” “If I have health insurance through myRead More
When you’re in the market for a financial advisor, you want to find one that’s going to be a perfect fit for the long run. Your relationship with your financial advisor is key to your financial health, success, and peace of mind. At Grubman Wealth Management, we are keenly aware that a good client-advisor relationship is crucial for long-term success. We invite you to interview us before you commit to our services. And even if we do not turn out to be the right fit, we are happy to provide some guidelines for choosing a financial advisor. Here are aRead More
Recently I read an article in the Wall Street Journal about the rise in use of telemedicine companies. These “direct-to-consumer” online medical services provide inexpensive diagnoses that allow consumers to avoid high co-pays or deductibles. Patients instead call an “online doctor” and describe their symptoms. The doctor then makes a diagnosis and, in some cases, prescribes medication. According to the WSJ, the American Telemedicine Association expects more than a million calls to these types of services in 2016 alone. But without access to patients’ medical histories and in-person examinations, many telemedicine companies are issuing incorrect diagnoses. In a JAMA DermatologyRead More