We are nearing the end of 2019 and the opportunity to give for this year. If a person has reached the age of 70.5 they can make cash donations to charities that are approved by the IRS. If a person has reached the age of 70.5 they can make cash donations to charities that are approved by the IRS that are outside of the scope of their IRA. These qualified charitable distributions will allow a person to reduce their tax liability and save money when it comes to filing their income tax. The Qualified charitable distributions can be donated from …
The True Cost Of Withdrawing Early From Your 401(k)
By Nirav Desai Do you have a 401(k) through your employer? Lucky you! 401(k)s are an incredible resource to help you save for retirement. And if you’re really lucky, your employer may even throw in some money in the form of matching contributions to make your savings grow even more. After hearing all about how you should take advantage of your 401(k), you enroll in the program and begin diligently saving for your future. But then life throws a curveball and you need money to cover an unexpected medical emergency or fund a major house repair. It might be tempting …
What We Do And How We Can Help
By Nirav Desai You don’t have to look far to find someone willing to give you financial advice. But what is hard to find is a financial advisor who advocates for your hopes and dreams and puts your interests first, always. That’s what Qubera Wealth is all about. Born out of seeing the devastating consequences of poor financial advice and planning, our firm strives to dig deep into your financial questions, concerns, and worries, and we’ll work hard on your behalf to build a future you can be excited about! Who We Are Qubera Wealth is an independent, fee-only fiduciary …
Do Presidential Elections Actually Impact The Stock Market?
More often than not, whenever a presidential election year is underway, you will hear a lot of news anchors and financial analysts will talk about the economy and the stock market. There will often be self-proclaimed experts who have their theories about how a presidential candidate will affect the market during election year, how investors may react as Election Day draws closer. But there’s a lot more to the workings of the stock market than simply the candidate or their political party. While an incumbent or new president can have some impact on the market, you have to look at …
2020 Contribution Limits for Employer Sponsored Plans
The 2020 contribution and benefit limits have been released by the IRS. The contribution limit for employees who participate in 401(k), 403(b), most 457 plans, and the federal government’s Thrift Savings Plan is increased. The following limits are applicable to 401(k), 403(b), most 457 plans, and the federal government’s Thrift Savings Plan: The contribution limit will be $19,500, up from $19,000 for 2019 The catch-up provision limit for employees aged 50 and over will be $6,500, up from $6,000 for 2019 For SIMPLE Retirement accounts, the contribution limit will be $13,500, up from $13,000 for 2019 2020 Contribution Limits for …
Does The Fed Lowering Interest Rates Really Hurt Retirees?
In most cases, the actions of the Federal Reserve lowering interest rates are a good thing because a lot of economic activity depends on the ability of businesses to borrow money. It is of course easier to borrow when interest rates are lower, but lowering interest rates too much could affect investors who may see lower returns on certain funds in their portfolio. Certainly the stronger the economy, the better the returns will be on certain investments, but lower interest rates could affect certain low risk investments that seniors may be more dependent on for when they can no longer …
2019 Catch Up Contributions
The IRS does a good job of providing the country’s elders with ways to save for retirement. Some of the most popular investment vehicles the IRS provides access to for the benefit of US taxpayers include 401(k) accounts and a variety of IRAs. While both options provide a variety of benefits to the taxpayer, the primary benefit involves taxation. In some cases, taxpayers can make investment with pre-tax dollars, effectively deferring taxes until they take distributions. In other cases, taxpayers can make their contributions with after-tax dollars with no taxation on the earnings that originate from those investments. For taxpayers …
Why I Became A Financial Advisor
By Nirav Desai There’s no denying it: money, and how you handle it, can make or break your life (and your stress levels). I saw firsthand the importance of financial planning and the difficulties created by poor plans when my father died and left an estate that was a mess. Not only did I have to muddle through the details and clean everything up in a time of grief, but I also experienced frustration at how the situation could have been avoided if my father had been given the right advice. I realized how hard it is to find competent …
Should You Delay Retirement?
Retirement is a dream for most Americans. Sure, there are people like Warren Buffett who love to work. Most people do not. If you’re one of those people who want to retire, the question arises of when a good time to retire might be. Some people will be fine retiring next week while some should wait for a few more years. Can You Do Without Income? If you’re working a job that pays well, it’s unlikely you’ll be able to bring in as much money when retired. There are exceptions to this rule. If you’ve routinely saved half of your …
Modern Day Scams To Avoid
The possibility of being targeted for a scam or a malicious scheme is well-known, and you may be aware of some of the more common or outdated scams. Today’s criminals, however, are increasingly devious. They know that many people are onto their efforts, so they can go to great lengths to trick consumers like you into providing vital personal or financial details to them. This may include everything from your bank account or credit card account info to your Social Security number, account password and other details. These are some of the more advanced schemes that you should aware of. …