Financial Planner

[helpusout]

Does anyone have the name of a financial planner that can help plan savings/ retirement accounts?
Someone that understands tax laws..
Thanks

[Lou Bob]

Does anyone have the name of a financial planner that can help plan savings/ retirement accounts?
Someone that understands tax laws..
Thanks

yep

[Yeki89]

I think he wanted more then a poll 

[Lou Bob]

I think he wanted more then a poll 

he's more than welcome to pm me. I figured that would've been the next normal step

[helpusout]

I dont understand, there has got to be some DDF members that have retirement accounts?!
And Lou, do you seriously do this for a living? I dont want to be taken for a ride..

[12HRS]

I dont understand, there has got to be some DDF members that have retirement accounts?!

Many people have retirement accounts without utilizing a financial planner.

[gpapadop]

I am a financial planner. And no I am not looking for new clients. People in forums with "deals" in their URL would probably not make good clients

I can answer questions here or by PM.

There are lots of charlatans out there, so be careful and take  your time!

[jaywhy]

I am a financial planner. And no I am not looking for new clients. People in forums with "deals" in their URL would probably not make good clients

I can answer questions here or by PM.

There are lots of charlatans out there, so be careful and take  your time!

+1 for George

[LA2NYC]

I'll jump right in:

Gpapadop and Lou Bob (or anyone else), would love your insight!

Dual-income family right now.

A) Plan to go back to grad school in a few years.  One income will fall off.  What is the best investment vehicle to protect income (ie how best to invest) so that it will not be included on a FAFSA form and eligible for paying tuition/loans?

B) Again, dual-income family.  I have always heard of importance of Roth IRA, though this is taxed at current rates.  Assuming wife and I aren't working during retirement when we would take disbursements, our tax rate should be lower in retirement than it is now.  If that's the case, wouldn't it be smarter to invest in a Traditional IRA and be taxed then as opposed to Roth with my higher tax bracket now?

TIA for anyone's insight!

[stmark]

I'll jump right in:

Gpapadop and Lou Bob (or anyone else), would love your insight!

Dual-income family right now.

A) Plan to go back to grad school in a few years.  One income will fall off.  What is the best investment vehicle to protect income (ie how best to invest) so that it will not be included on a FAFSA form and eligible for paying tuition/loans?

B) Again, dual-income family.  I have always heard of importance of Roth IRA, though this is taxed at current rates.  Assuming wife and I aren't working during retirement when we would take disbursements, our tax rate should be lower in retirement than it is now.  If that's the case, wouldn't it be smarter to invest in a Traditional IRA and be taxed then as opposed to Roth with my higher tax bracket now?

TIA for anyone's insight!

I believe you are taxed on traditional IRAs as income when you withdraw the money.  Therefore, I believe, the benefit of Roth is that when you guys are younger (as the Mrs and I are) right now you put the money in after taxes and withdraw it at retirement tax free as opposed to regular income tax.

your accountant should be able to give you tax advise on the ira part.
for the fafsa stuff I would recommend cold calling a university student finance office and they can advise you on various options or check out the fafsa website.

[LA2NYC]

I believe you are taxed on traditional IRAs as income when you withdraw the money.  Therefore, I believe, the benefit of Roth is that when you guys are younger (as the Mrs and I are) right now you put the money in after taxes and withdraw it at retirement tax free as opposed to regular income tax.

Correct.  Though know let's assume tax rate is 25% and retirement will be 10%.  It would make sense to invest in Traditional IRA and be taxed at 10% in retirement than putting in Roth IRA now and taxed at 25%.

Is this correct?

[churnbabychurn]

Correct.  Though know let's assume tax rate is 25% and retirement will be 10%.  It would make sense to invest in Traditional IRA and be taxed at 10% in retirement than putting in Roth IRA now and taxed at 25%.

Is this correct?

Correct. This is the standard argument for the traditional IRA.

[LA2NYC]

Correct.  Though know let's assume tax rate is 25% and retirement will be 10%.  It would make sense to invest in Traditional IRA and be taxed at 10% in retirement than putting in Roth IRA now and taxed at 25%.

Is this correct?

Correct. This is the standard argument for the traditional IRA.

So the only argument for Roth is when your present tax rate is less than expected tax rate retirement? Roth is so hyped, but it seems that if you're working/making money, Traditional will be a smarter option most of the time.

Is the difference in how earnings are treated at retirement? Roth has tax-free principal & earnings while Traditional is taxed on both principal and earnings.  Is this correct?

[michael]

So the only argument for Roth is when your present tax rate is less than expected tax rate retirement? Roth is so hyped, but it seems that if you're working/making money, Traditional will be a smarter option most of the time.

Is the difference in how earnings are treated at retirement? Roth has tax-free principal & earnings while Traditional is taxed on both principal and earnings.  Is this correct?

Correct.

There is also the ever so slight possibility, at least according to tax policy professors, that congress may decide at some point to tax Roth distributions. Not likely though.

[churnbabychurn]

There is also the ever so slight possibility, at least according to tax policy professors, that congress may decide at some point to tax Roth distributions. Not likely though.

+1
Can't trust the Feds.
 I personally believe its always best to hold onto your money for as long as possible...   

[12HRS]

I personally believe its always best to hold onto your money for as long as possible...

Till you die?

[george]

Till you die?

he means that instead of paying taxes upfront, he'd rather "hold onto his money" longer and pay taxes upon distribution in retirement.

[churnbabychurn]

he means that instead of paying taxes upfront, he'd rather "hold onto his money" longer and pay taxes upon distribution in retirement.

+1

[12HRS]

he means that instead of paying taxes upfront, he'd rather "hold onto his money" longer and pay taxes upon distribution in retirement.

Sorry I forgot to in my previous comment.

[PlatinumGuy]

Can't trust the Feds.

Can't trust anyone with a 15 trillion dollar hole in their pocket.