Typically an IRA, 401(k), 403(b) or other employer-sponsored retirement plan distribution can qualify for a tax-free rollover if contributed to another IRA or employer-sponsored retirement plan within 60 days. Taxpayers who don’t meet the time requirement face an income tax bill on the distribution. On Wednesday the IRS unveiled a new procedure allowing taxpayers to [...]
We had such a good time last year that once again Apollo Wealth Management partnered with a handful of firms to provide “matching funds” for donations made to The Linda Fund at Tabby’s Place. The kindness and generosity of the Apollo family helped Tabby's raise $180,183 in 2016 - an increase of over 25%. Wow! [...]
Are advisors worth their fees? Research shows the answer is a resounding “yes,” albeit not for the reasons you might have supposed. Find out why here.
Editor’s Note: “Companion animal” is the preferred term – just doesn’t make for a catchy title. Although many states define companion animals as property most of us view them as family members. With the recent passing of legislation in Minnesota the creation of pet trusts is now possible in all 50 states. While the following [...]
Participating in competitive sports can teach youth valuable lessons. It can also be costly. According to a recent TD Ameritrade survey parents whose children participate in competitive youth sports spend $100 - $500 per month per child. The costs often have a negative impact on parents’ retirement goals. Some of the interesting findings: 1/3 of [...]
The results of a recent poll by the CFA Institute exhibit interesting findings regarding our bias towards ownership – the so-called Endowment Effect. A full 84% of respondents indicated selling is tougher than buying. The most emotionally taxing decisions are outright sales (43%) followed by short sales (41%). Buying on margin (13%) came in third. [...]
Our caveman ancestors had a simple test for survival – Fight or Flight. In our modern world money is the source of survival. As a result every primitive survival and pleasure-seeking drive is intensely focused on capturing and guarding money. These drives are involuntary and highly emotional emerging more quickly and forcefully than logical analysis. [...]
The annual Cost of Living Adjustment (“COLA”) to monthly Social Security checks is fast becoming a relic in a world of near-zero inflation. According to the most recent estimates the 2017 COLA is likely to be 0.7% on the high end and, at worst, 0%.
In a recent general information letter the IRS reiterated several RMD rules and the Required Beginning Date (“RBD”) for taking RMDs: IRAs: The requirement to take RMDs begins on April 1st of the year following the calendar year in which the taxpayer reaches age 70 ½. EXAMPLE: Taxpayer reaches age 70 ½ in 2016. S/he [...]
Apollo Wealth Management is proud to once again be a Tabby’s Place matching gift sponsor. From now until July 31st every dollar you donate to The Linda Fund (which provides life-saving emergency and specialty care) will be matched 100%. Get out those checkbooks (what year is this anyway?), find your credit cards, crack open those [...]