Financial Articles – TAG Financial Solutions

What if Capital Gains Were Indexed to Inflation? October 4, 2018 by Todd A. Gaswick Investors would be taxed less if this idea gets the green light. Recently, President Trump and Secretary of the Treasury Steven Mnuchin both voiced their support for an intriguing idea: the indexing of capital gains.1 The idea is not new; President George H.W. Bush’s administration briefly considered it in the early 1990s. It is certainly [...]

Taking a Loan from Your Retirement Plan = Bad Idea October 4, 2018 by Todd A. Gaswick Why you should refrain from making this move. Thinking about borrowing money from your 401(k), 403(b), or 457 account? Think twice about that because these loans are not only risky, but injurious, to your retirement planning. A loan of this kind damages your retirement savings prospects. A 401(k), 403(b), or 457 should never be viewed [...]

5 Retirement Concerns Too Often Overlooked October 4, 2018 by Todd A. Gaswick Baby boomers entering their “second acts” should think about these matters. Retirement is undeniably a major life and financial transition. Even so, baby boomers can run the risk of growing nonchalant about some of the financial challenges that retirement poses, for not all are immediately obvious. In looking forward to their “second acts,” boomers may [...]

Balancing Your Checkbook October 4, 2018 by Todd A. Gaswick A useful skill, even in a digital age. Do you know how much money you have in your checking account? If you keep your checkbook balanced, answering that question becomes easier. Balancing, reconciling, whatever you want to call it – this is a core financial skill, even if you happen to do all your banking [...]

Is Now the Right Time to Go Roth? October 4, 2018 by Todd A. Gaswick Some say yes, pointing to the recent federal tax reforms. Will federal income tax rates ever be lower than they are right now? Given the outlook for Social Security and Medicare, it is hard to imagine them falling much further. Higher federal income taxes could very well be on the horizon, as the tax cuts [...]

Save & Invest Even if Money Is Tight October 3, 2018 by Todd A. Gaswick For millennials, today is the right time. If you are under 30, you have likely heard that now is the ideal time to save and invest. You know that the power of compound interest is on your side; you recognize the potential advantages of an early start. There is only one problem: you do not [...]

Are Changes Ahead for Retirement Accounts? October 3, 2018 by Todd A. Gaswick A bill now in Congress proposes to alter some longstanding rules. Most Americans are not saving enough for retirement, despite ongoing encouragement to do so (and recurring warnings about what may happen if they do not). This year, lawmakers are also addressing this problem, with a bill proposing big changes to IRAs and workplace retirement [...]

Financial Considerations When Buying a Car October 3, 2018 by Todd A. Gaswick Things to think about before heading to a dealership. Time to buy a car? Short of buying a house, this is one on the most important purchases you will make. It’s also one that you might be making several times through your life, comprising of thousands – sometimes tens of thousands – of dollars. If [...]

Underappreciated Options for Building Retirement Savings October 3, 2018 by Todd A. Gaswick More people ought to know about them. There are a number of well-known retirement savings vehicles, used by millions. Are there other, relatively obscure retirement savings accounts worthy of attention? Are there prospective benefits for retirement savers that remain under the radar? The answer to both questions is yes. Consider these potential routes toward greater [...]

Leaving a Legacy to Your Grandkids August 6, 2018 by Todd A. Gaswick Now is the time to explore the possibilities. Grandparents Day provides a reminder of the bond between grandparents and grandchildren and the importance of family legacies. A family legacy can have multiple aspects. It can include much more than heirlooms and appreciated assets. It may also include guidance, even instructions, about what to do with [...]