SPECIALIZED FINANCIAL ADVISORS IN LANCASTER, PA Specialized Financial Advisors in Lancaster, PA - Rodgers & Associates. Protecting Your Wealth. Planning Your Future. We are fee-only financial advisers who focus on helping you become finan­cially independent for retirement. Together, we specialize in the needs of high-net worth investors and provide ongoing guidance that puts your interests TEAM - RODGERS & ASSOCIATES The singular goal of each individual at Rodgers & Associates is to help clients become finan­cially independent for retirement. Our team approach to client service has evolved over our 20+ years. By working together, we can take advantage of the strengths and experience of each person to make sure each client receives the same high-quality USING YOUR HEALTH SAVINGS ACCOUNT (HSA) AS A RETIREMENT An HSA is defined as a type of savings account you can fund on a pre-tax basis and withdraw money tax-free to pay for qualified medical expenses. These accounts are only available to people who are covered under a High Deductible Health Plan and they have contri­bution limits. As more people retire with these accounts, it’s important to EVALUATING WHERE TO RETIRE: PENNSYLVANIA VS. SURROUNDING 13. 10. 15. Source: MoneyRates, February 4, 2021. Retire­mentLiving placed Pennsyl­vania at number eight in their top ten states to retire to, noting the many senior housing options to choose from and housing afford­ability. Percent of Pop. 65+. 18.7%. Median Income. TRADITIONAL IRAS ARE NOT LIKE OTHER ASSETS IN YOUR ESTATE Tradi­tional IRAs are subject to a unique set of complex rules. Here are 6 signif­icant differ­ences between IRAs and other financial assets: Unless payable to an estate, IRAs do not pass through the will. Your IRA account has a benefi­ciary, who will receive your IRA at death, regardless of what you state in your will or living trust. WHAT’S THE DIFFERENCE BETWEEN PREMIUM BONDS AND DISCOUNT Your buyer will pay more to purchase the bond, and that premium the buyer pays will reduce the yield to maturity of the bond, so it is in line with what is currently being offered. (By contrast, a bond discount would enhance, rather than reduce, its yield to maturity.) So, the great equalizer is a bond’s yield to maturity (YTM). WHAT IS THE WIDOW’S TAX AND HOW WILL IT AFFECT ME 2) She will be in a higher tax bracket. For a couple that is married filing jointly, the top of the 12% bracket in 2020 is $80,250. For a single person, the top of the 12% tax bracket in 2021 is $40,525. Therefore, as a single taxpayer, Janet will be subject to a higher tax

bracket of 22%.

RISKS OF ADDING YOUR CHILD TO YOUR HOME’S DEED Many people think it is a good idea to put their child’s name on the deed to their home, especially if one of the parents is deceased. Usually the motivation is to avoid inher­i­tance tax and probate, or to prevent the family home from being sold to pay for nursing home

expenses.

FOLLOW THE RULES WHEN ROLLING OVER YOUR PENSION TO AN IRA Rolling over a company pension plan to an IRA is a simple procedure with basic rules. First, you must be separated from service to qualify for a rollover or the company must be offering to close out the plan. Second, if the funds are withdrawn from the company plan, they must be re-deposited into a quali­fying IRA or another pension plan 2 WAYS TO HELP ADULT CHILDREN FINANCIALLY 2 Ways to Help Children and Grandchildren FinanciallyWithout Spoiling Them. “Don’t save what is left after spending; spend what is left after saving.”–. Warren Buffet. One of the most important financial lessons to teach our children and grand­children is the impor­tance of saving and investing. We all start out life by working

for

SPECIALIZED FINANCIAL ADVISORS IN LANCASTER, PA Specialized Financial Advisors in Lancaster, PA - Rodgers & Associates. Protecting Your Wealth. Planning Your Future. We are fee-only financial advisers who focus on helping you become finan­cially independent for retirement. Together, we specialize in the needs of high-net worth investors and provide ongoing guidance that puts your interests TEAM - RODGERS & ASSOCIATES The singular goal of each individual at Rodgers & Associates is to help clients become finan­cially independent for retirement. Our team approach to client service has evolved over our 20+ years. By working together, we can take advantage of the strengths and experience of each person to make sure each client receives the same high-quality USING YOUR HEALTH SAVINGS ACCOUNT (HSA) AS A RETIREMENT An HSA is defined as a type of savings account you can fund on a pre-tax basis and withdraw money tax-free to pay for qualified medical expenses. These accounts are only available to people who are covered under a High Deductible Health Plan and they have contri­bution limits. As more people retire with these accounts, it’s important to EVALUATING WHERE TO RETIRE: PENNSYLVANIA VS. SURROUNDING 13. 10. 15. Source: MoneyRates, February 4, 2021. Retire­mentLiving placed Pennsyl­vania at number eight in their top ten states to retire to, noting the many senior housing options to choose from and housing afford­ability. Percent of Pop. 65+. 18.7%. Median Income. TRADITIONAL IRAS ARE NOT LIKE OTHER ASSETS IN YOUR ESTATE Tradi­tional IRAs are subject to a unique set of complex rules. Here are 6 signif­icant differ­ences between IRAs and other financial assets: Unless payable to an estate, IRAs do not pass through the will. Your IRA account has a benefi­ciary, who will receive your IRA at death, regardless of what you state in your will or living trust. WHAT’S THE DIFFERENCE BETWEEN PREMIUM BONDS AND DISCOUNT Your buyer will pay more to purchase the bond, and that premium the buyer pays will reduce the yield to maturity of the bond, so it is in line with what is currently being offered. (By contrast, a bond discount would enhance, rather than reduce, its yield to maturity.) So, the great equalizer is a bond’s yield to maturity (YTM). WHAT IS THE WIDOW’S TAX AND HOW WILL IT AFFECT ME 2) She will be in a higher tax bracket. For a couple that is married filing jointly, the top of the 12% bracket in 2020 is $80,250. For a single person, the top of the 12% tax bracket in 2021 is $40,525. Therefore, as a single taxpayer, Janet will be subject to a higher tax

bracket of 22%.

RISKS OF ADDING YOUR CHILD TO YOUR HOME’S DEED Many people think it is a good idea to put their child’s name on the deed to their home, especially if one of the parents is deceased. Usually the motivation is to avoid inher­i­tance tax and probate, or to prevent the family home from being sold to pay for nursing home

expenses.

FOLLOW THE RULES WHEN ROLLING OVER YOUR PENSION TO AN IRA Rolling over a company pension plan to an IRA is a simple procedure with basic rules. First, you must be separated from service to qualify for a rollover or the company must be offering to close out the plan. Second, if the funds are withdrawn from the company plan, they must be re-deposited into a quali­fying IRA or another pension plan 2 WAYS TO HELP ADULT CHILDREN FINANCIALLY 2 Ways to Help Children and Grandchildren FinanciallyWithout Spoiling Them. “Don’t save what is left after spending; spend what is left after saving.”–. Warren Buffet. One of the most important financial lessons to teach our children and grand­children is the impor­tance of saving and investing. We all start out life by working

for

TEAM - RODGERS & ASSOCIATES The singular goal of each individual at Rodgers & Associates is to help clients become finan­cially independent for retirement. Our team approach to client service has evolved over our 20+ years. By working together, we can take advantage of the strengths and experience of each person to make sure each client receives the same high-quality UNDERSTANDING YOUR ANNUITY PAYOUT OPTIONS Understanding Your Annuity Payout Options. Many people are familiar with the requirement to begin taking distri­b­u­tions from Individual Retirement Accounts (IRAs). The purpose of this IRS rule is to end a portion of the tax-deferred growth and begin taxing the monies. Non-qualified annuities are similar to IRAs in that they defer

taxes on

PAY TAXES ONCE, INSTEAD OF FOUR TIMES, USING YOUR IRA’S Age 72 is an important milestone for IRA owners. It’s the so-called “day of reckoning” when the IRS begins collecting taxes on your deferred retirement savings. TRADITIONAL IRAS ARE NOT LIKE OTHER ASSETS IN YOUR ESTATE Tradi­tional IRAs are subject to a unique set of complex rules. Here are 6 signif­icant differ­ences between IRAs and other financial assets: Unless payable to an estate, IRAs do not pass through the will. Your IRA account has a benefi­ciary, who will receive your IRA at death, regardless of what you state in your will or living trust. ARE IRAS PROTECTED FROM CREDITORS? Rick’s Tips: Assets in an IRA and/or Roth IRA are protected from creditors up to $1,283,025. All assets held in ERISA plans are protected from creditors even after they are rolled over to an IRA. Retirement assets are not protected from an IRS levy. 1 Patterson v. PENSION BUYOUT OFFERS: 7 STEPS TO FOLLOW Step 1: Consider the offer carefully before accepting. This is a risk transfer from the employer to the employee. The pension plan currently has the risk of making the promised payments at retirement for the rest of your life. Accepting the buyout transfers investment risk to

you, the employee.

WHAT IS THE WIDOW’S TAX AND HOW WILL IT AFFECT ME 2) She will be in a higher tax bracket. For a couple that is married filing jointly, the top of the 12% bracket in 2020 is $80,250. For a single person, the top of the 12% tax bracket in 2021 is $40,525. Therefore, as a single taxpayer, Janet will be subject to a higher tax

bracket of 22%.

WHAT TO DO IF YOU MISS A REQUIRED MINIMUM DISTRIBUTION 1 IRS .gov search IRS Audits. 2 Paschall v. Commis­sioner, Docket Nos. 10478–08, 25825–08, filed July 5, 2011 HOW TO TITLE YOUR CARS TO LIMIT LIABILITY Assuming there is no loan on the car, the title can be trans­ferred through the Motor Vehicle Department for approx­i­mately $150. If you are an AAA member costs to transfer can be reduced by about $50. If a spouse is unable to obtain a loan on a car or if multiple cars are owned and driven by both spouses joint ownership may be necessary. HOW TO LEGALLY TRANSFER AFTER-TAX MONEY INTO A TAX-FREE The formula for the pro-rata calcu­lation is – the total after-tax money in all IRAs divided by the total value of all IRAs multi­plied by the amount converted. For example, a taxpayer made three $5,000 non-deductible contri­bu­tions to an IRA over the past couple of years ($15,000). That IRA is now worth $20,000, including growth. SPECIALIZED FINANCIAL ADVISORS IN LANCASTER, PA Specialized Financial Advisors in Lancaster, PA - Rodgers & Associates. Protecting Your Wealth. Planning Your Future. We are fee-only financial advisers who focus on helping you become finan­cially independent for retirement. Together, we specialize in the needs of high-net worth investors and provide ongoing guidance that puts your interests TEAM - RODGERS & ASSOCIATES The singular goal of each individual at Rodgers & Associates is to help clients become finan­cially independent for retirement. Our team approach to client service has evolved over our 20+ years. By working together, we can take advantage of the strengths and experience of each person to make sure each client receives the same high-quality WAYS TO EXIT YOUR TIMESHARE 3/5/2021 3 The Timeshare Contract –Clauses to Look For A term offorever? Representations made by Timeshare Sellers The Arbitration clause Leasing and Resale Restrictions on Transfers Maintenance Fees Where is the term? What other services must you pay for in perpetuity? As persons age, they may not be able to travel as easily or they may require more accessible TRADITIONAL IRAS ARE NOT LIKE OTHER ASSETS IN YOUR ESTATE Tradi­tional IRAs are subject to a unique set of complex rules. Here are 6 signif­icant differ­ences between IRAs and other financial assets: Unless payable to an estate, IRAs do not pass through the will. Your IRA account has a benefi­ciary, who will receive your IRA at death, regardless of what you state in your will or living trust. EVALUATING WHERE TO RETIRE: PENNSYLVANIA VS. SURROUNDING 13. 10. 15. Source: MoneyRates, February 4, 2021. Retire­mentLiving placed Pennsyl­vania at number eight in their top ten states to retire to, noting the many senior housing options to choose from and housing afford­ability. Percent of Pop. 65+. 18.7%. Median Income. SHOULD YOU NAME YOUR ESTATE AS YOUR IRA BENEFICIARY Estate income taxes. If distri­b­u­tions are made from the IRA while it is held by the estate, then these will be taxed at unfavorable estate tax brackets. For an estate, the top bracket (37%) applies to taxable income over $12,950 in2020. In contrast, for an individual (filing single) the top bracket (37%) applies to taxable

income over

HOW TO LEGALLY TRANSFER AFTER-TAX MONEY INTO A TAX-FREE The formula for the pro-rata calcu­lation is – the total after-tax money in all IRAs divided by the total value of all IRAs multi­plied by the amount converted. For example, a taxpayer made three $5,000 non-deductible contri­bu­tions to an IRA over the past couple of years ($15,000). That IRA is now worth $20,000, including growth. RISKS OF ADDING YOUR CHILD TO YOUR HOME’S DEED Many people think it is a good idea to put their child’s name on the deed to their home, especially if one of the parents is deceased. Usually the motivation is to avoid inher­i­tance tax and probate, or to prevent the family home from being sold to pay for nursing home

expenses.

2 WAYS TO HELP ADULT CHILDREN FINANCIALLY 2 Ways to Help Children and Grandchildren FinanciallyWithout Spoiling Them. “Don’t save what is left after spending; spend what is left after saving.”–. Warren Buffet. One of the most important financial lessons to teach our children and grand­children is the impor­tance of saving and investing. We all start out life by working

for

ARE QUALIFIED CHARITABLE DISTRIBUTIONS (QCD) PERMITTED This newsletter is a follow-up to the June 13, 2019 newsletter titled How Qualified Chari­table Distri­b­u­tions Can Impact Your Taxes and Favorite Charities.The focus of that newsletter was Qualified Chari­table Distri­b­u­tions (QCD). SPECIALIZED FINANCIAL ADVISORS IN LANCASTER, PA Specialized Financial Advisors in Lancaster, PA - Rodgers & Associates. Protecting Your Wealth. Planning Your Future. We are fee-only financial advisers who focus on helping you become finan­cially independent for retirement. Together, we specialize in the needs of high-net worth investors and provide ongoing guidance that puts your interests TEAM - RODGERS & ASSOCIATES The singular goal of each individual at Rodgers & Associates is to help clients become finan­cially independent for retirement. Our team approach to client service has evolved over our 20+ years. By working together, we can take advantage of the strengths and experience of each person to make sure each client receives the same high-quality WAYS TO EXIT YOUR TIMESHARE 3/5/2021 3 The Timeshare Contract –Clauses to Look For A term offorever? Representations made by Timeshare Sellers The Arbitration clause Leasing and Resale Restrictions on Transfers Maintenance Fees Where is the term? What other services must you pay for in perpetuity? As persons age, they may not be able to travel as easily or they may require more accessible TRADITIONAL IRAS ARE NOT LIKE OTHER ASSETS IN YOUR ESTATE Tradi­tional IRAs are subject to a unique set of complex rules. Here are 6 signif­icant differ­ences between IRAs and other financial assets: Unless payable to an estate, IRAs do not pass through the will. Your IRA account has a benefi­ciary, who will receive your IRA at death, regardless of what you state in your will or living trust. EVALUATING WHERE TO RETIRE: PENNSYLVANIA VS. SURROUNDING 13. 10. 15. Source: MoneyRates, February 4, 2021. Retire­mentLiving placed Pennsyl­vania at number eight in their top ten states to retire to, noting the many senior housing options to choose from and housing afford­ability. Percent of Pop. 65+. 18.7%. Median Income. SHOULD YOU NAME YOUR ESTATE AS YOUR IRA BENEFICIARY Estate income taxes. If distri­b­u­tions are made from the IRA while it is held by the estate, then these will be taxed at unfavorable estate tax brackets. For an estate, the top bracket (37%) applies to taxable income over $12,950 in2020. In contrast, for an individual (filing single) the top bracket (37%) applies to taxable

income over

HOW TO LEGALLY TRANSFER AFTER-TAX MONEY INTO A TAX-FREE The formula for the pro-rata calcu­lation is – the total after-tax money in all IRAs divided by the total value of all IRAs multi­plied by the amount converted. For example, a taxpayer made three $5,000 non-deductible contri­bu­tions to an IRA over the past couple of years ($15,000). That IRA is now worth $20,000, including growth. RISKS OF ADDING YOUR CHILD TO YOUR HOME’S DEED Many people think it is a good idea to put their child’s name on the deed to their home, especially if one of the parents is deceased. Usually the motivation is to avoid inher­i­tance tax and probate, or to prevent the family home from being sold to pay for nursing home

expenses.

2 WAYS TO HELP ADULT CHILDREN FINANCIALLY 2 Ways to Help Children and Grandchildren FinanciallyWithout Spoiling Them. “Don’t save what is left after spending; spend what is left after saving.”–. Warren Buffet. One of the most important financial lessons to teach our children and grand­children is the impor­tance of saving and investing. We all start out life by working

for

ARE QUALIFIED CHARITABLE DISTRIBUTIONS (QCD) PERMITTED This newsletter is a follow-up to the June 13, 2019 newsletter titled How Qualified Chari­table Distri­b­u­tions Can Impact Your Taxes and Favorite Charities.The focus of that newsletter was Qualified Chari­table Distri­b­u­tions (QCD). BECOMING FINANCIALLY INDEPENDENT, PART 1: WHERE TO START “Time” is the most important word in our investment vocabulary: starting today beats waiting until tomorrow. WAYS TO EXIT YOUR TIMESHARE 3/5/2021 3 The Timeshare Contract –Clauses to Look For A term offorever? Representations made by Timeshare Sellers The Arbitration clause Leasing and Resale Restrictions on Transfers Maintenance Fees Where is the term? What other services must you pay for in perpetuity? As persons age, they may not be able to travel as easily or they may require more accessible TRADITIONAL IRAS ARE NOT LIKE OTHER ASSETS IN YOUR ESTATE Tradi­tional IRAs are subject to a unique set of complex rules. Here are 6 signif­icant differ­ences between IRAs and other financial assets: Unless payable to an estate, IRAs do not pass through the will. Your IRA account has a benefi­ciary, who will receive your IRA at death, regardless of what you state in your will or living trust. ROTH CONVERSIONS FOR PEOPLE OVER 70-1/2 The pro-rata rule applies to RMDs in the same way it is used for Roth conver­sions. For example, an IRA owner has an account worth $100,000, of which $15,000 is after-tax contri­bu­tions. The owner is over 70‑½ and has to take a $3,000 RMD before converting $20,000 to a Roth. 15% of the RMD ($450) is considered after-tax and 15% of

the

NON-PROFIT PLEDGE OBLIGATIONS: WHAT TO KNOW Pledges have been held binding because: Work has begun (or a liability has been incurred) because the non-profit relied on the pledge being fulfilled. Lenders often use pledges as collateral for a loan to a non-profit. The donor’s pledge has induced other people to also make pledges. The non-profit’s accep­tance of the pledge is a promise PENSION BUYOUT OFFERS: 7 STEPS TO FOLLOW Step 1: Consider the offer carefully before accepting. This is a risk transfer from the employer to the employee. The pension plan currently has the risk of making the promised payments at retirement for the rest of your life. Accepting the buyout transfers investment risk to

you, the employee.

PASSIVE INVESTING: INDEX MUTUAL FUNDS VS. ETFS In simple terms, an active strategy involves buying and selling, while a passive strategy involves buying and holding. With regards to mutual funds, the active strategy is often referred to as an actively managed fund, and a passive strategy can be found with index funds and exchange-traded funds (ETF). We believe that the tax efficient equity LESSONS LEARNED FROM THE BERNIE MADOFF SCANDAL 10 Years Later: Lessons Learned from the Bernie Madoff Scandal. December 11, 2018 marked the 10 year anniversary of the arrest of Bernard Madoff, the main perpe­trator of the largest Ponzi scheme in history. His fraud was valued by regulators at approx­i­mately $64.8

billion.

HOW TO TITLE YOUR CARS TO LIMIT LIABILITY Assuming there is no loan on the car, the title can be trans­ferred through the Motor Vehicle Department for approx­i­mately $150. If you are an AAA member costs to transfer can be reduced by about $50. If a spouse is unable to obtain a loan on a car or if multiple cars are owned and driven by both spouses joint ownership may be necessary. CONSIDER DONATING STOCK TO YOUR CHURCH Step 1: Determine if your church has an account with a financial insti­tution to accept stock gifts. Step 2: Obtain the transfer infor­mation from the church’s financial insti­tution. Typically, your church treasurer will have access to this infor­mation. This transfer detail includes the DTC routing number as well as the church

account

SPECIALIZED FINANCIAL ADVISORS IN LANCASTER, PA Specialized Financial Advisors in Lancaster, PA - Rodgers & Associates. Protecting Your Wealth. Planning Your Future. We are fee-only financial advisers who focus on helping you become finan­cially independent for retirement. Together, we specialize in the needs of high-net worth investors and provide ongoing guidance that puts your interests TEAM - RODGERS & ASSOCIATES The singular goal of each individual at Rodgers & Associates is to help clients become finan­cially independent for retirement. Our team approach to client service has evolved over our 20+ years. By working together, we can take advantage of the strengths and experience of each person to make sure each client receives the same high-quality ROTH CONVERSIONS FOR PEOPLE OVER 70-1/2 The pro-rata rule applies to RMDs in the same way it is used for Roth conver­sions. For example, an IRA owner has an account worth $100,000, of which $15,000 is after-tax contri­bu­tions. The owner is over 70‑½ and has to take a $3,000 RMD before converting $20,000 to a Roth. 15% of the RMD ($450) is considered after-tax and 15% of

the

EVALUATING WHERE TO RETIRE: PENNSYLVANIA VS. SURROUNDING 13. 10. 15. Source: MoneyRates, February 4, 2021. Retire­mentLiving placed Pennsyl­vania at number eight in their top ten states to retire to, noting the many senior housing options to choose from and housing afford­ability. Percent of Pop. 65+. 18.7%. Median Income. TRADITIONAL IRAS ARE NOT LIKE OTHER ASSETS IN YOUR ESTATE Tradi­tional IRAs are subject to a unique set of complex rules. Here are 6 signif­icant differ­ences between IRAs and other financial assets: Unless payable to an estate, IRAs do not pass through the will. Your IRA account has a benefi­ciary, who will receive your IRA at death, regardless of what you state in your will or living trust. WAYS TO EXIT YOUR TIMESHARE 3/5/2021 3 The Timeshare Contract –Clauses to Look For A term offorever? Representations made by Timeshare Sellers The Arbitration clause Leasing and Resale Restrictions on Transfers Maintenance Fees Where is the term? What other services must you pay for in perpetuity? As persons age, they may not be able to travel as easily or they may require more accessible SHOULD YOU NAME YOUR ESTATE AS YOUR IRA BENEFICIARY Estate income taxes. If distri­b­u­tions are made from the IRA while it is held by the estate, then these will be taxed at unfavorable estate tax brackets. For an estate, the top bracket (37%) applies to taxable income over $12,950 in2020. In contrast, for an individual (filing single) the top bracket (37%) applies to taxable

income over

FOLLOW THE RULES WHEN ROLLING OVER YOUR PENSION TO AN IRA Rolling over a company pension plan to an IRA is a simple procedure with basic rules. First, you must be separated from service to qualify for a rollover or the company must be offering to close out the plan. Second, if the funds are withdrawn from the company plan, they must be re-deposited into a quali­fying IRA or another pension plan 2 WAYS TO HELP ADULT CHILDREN FINANCIALLY 2 Ways to Help Children and Grandchildren FinanciallyWithout Spoiling Them. “Don’t save what is left after spending; spend what is left after saving.”–. Warren Buffet. One of the most important financial lessons to teach our children and grand­children is the impor­tance of saving and investing. We all start out life by working

for

RISKS OF ADDING YOUR CHILD TO YOUR HOME’S DEED Many people think it is a good idea to put their child’s name on the deed to their home, especially if one of the parents is deceased. Usually the motivation is to avoid inher­i­tance tax and probate, or to prevent the family home from being sold to pay for nursing home

expenses.

SPECIALIZED FINANCIAL ADVISORS IN LANCASTER, PA Specialized Financial Advisors in Lancaster, PA - Rodgers & Associates. Protecting Your Wealth. Planning Your Future. We are fee-only financial advisers who focus on helping you become finan­cially independent for retirement. Together, we specialize in the needs of high-net worth investors and provide ongoing guidance that puts your interests TEAM - RODGERS & ASSOCIATES The singular goal of each individual at Rodgers & Associates is to help clients become finan­cially independent for retirement. Our team approach to client service has evolved over our 20+ years. By working together, we can take advantage of the strengths and experience of each person to make sure each client receives the same high-quality ROTH CONVERSIONS FOR PEOPLE OVER 70-1/2 The pro-rata rule applies to RMDs in the same way it is used for Roth conver­sions. For example, an IRA owner has an account worth $100,000, of which $15,000 is after-tax contri­bu­tions. The owner is over 70‑½ and has to take a $3,000 RMD before converting $20,000 to a Roth. 15% of the RMD ($450) is considered after-tax and 15% of

the

EVALUATING WHERE TO RETIRE: PENNSYLVANIA VS. SURROUNDING 13. 10. 15. Source: MoneyRates, February 4, 2021. Retire­mentLiving placed Pennsyl­vania at number eight in their top ten states to retire to, noting the many senior housing options to choose from and housing afford­ability. Percent of Pop. 65+. 18.7%. Median Income. TRADITIONAL IRAS ARE NOT LIKE OTHER ASSETS IN YOUR ESTATE Tradi­tional IRAs are subject to a unique set of complex rules. Here are 6 signif­icant differ­ences between IRAs and other financial assets: Unless payable to an estate, IRAs do not pass through the will. Your IRA account has a benefi­ciary, who will receive your IRA at death, regardless of what you state in your will or living trust. WAYS TO EXIT YOUR TIMESHARE 3/5/2021 3 The Timeshare Contract –Clauses to Look For A term offorever? Representations made by Timeshare Sellers The Arbitration clause Leasing and Resale Restrictions on Transfers Maintenance Fees Where is the term? What other services must you pay for in perpetuity? As persons age, they may not be able to travel as easily or they may require more accessible SHOULD YOU NAME YOUR ESTATE AS YOUR IRA BENEFICIARY Estate income taxes. If distri­b­u­tions are made from the IRA while it is held by the estate, then these will be taxed at unfavorable estate tax brackets. For an estate, the top bracket (37%) applies to taxable income over $12,950 in2020. In contrast, for an individual (filing single) the top bracket (37%) applies to taxable

income over

FOLLOW THE RULES WHEN ROLLING OVER YOUR PENSION TO AN IRA Rolling over a company pension plan to an IRA is a simple procedure with basic rules. First, you must be separated from service to qualify for a rollover or the company must be offering to close out the plan. Second, if the funds are withdrawn from the company plan, they must be re-deposited into a quali­fying IRA or another pension plan 2 WAYS TO HELP ADULT CHILDREN FINANCIALLY 2 Ways to Help Children and Grandchildren FinanciallyWithout Spoiling Them. “Don’t save what is left after spending; spend what is left after saving.”–. Warren Buffet. One of the most important financial lessons to teach our children and grand­children is the impor­tance of saving and investing. We all start out life by working

for

RISKS OF ADDING YOUR CHILD TO YOUR HOME’S DEED Many people think it is a good idea to put their child’s name on the deed to their home, especially if one of the parents is deceased. Usually the motivation is to avoid inher­i­tance tax and probate, or to prevent the family home from being sold to pay for nursing home

expenses.

TRADITIONAL IRAS ARE NOT LIKE OTHER ASSETS IN YOUR ESTATE Tradi­tional IRAs are subject to a unique set of complex rules. Here are 6 signif­icant differ­ences between IRAs and other financial assets: Unless payable to an estate, IRAs do not pass through the will. Your IRA account has a benefi­ciary, who will receive your IRA at death, regardless of what you state in your will or living trust. WAYS TO EXIT YOUR TIMESHARE 3/5/2021 3 The Timeshare Contract –Clauses to Look For A term offorever? Representations made by Timeshare Sellers The Arbitration clause Leasing and Resale Restrictions on Transfers Maintenance Fees Where is the term? What other services must you pay for in perpetuity? As persons age, they may not be able to travel as easily or they may require more accessible NON-PROFIT PLEDGE OBLIGATIONS: WHAT TO KNOW Pledges have been held binding because: Work has begun (or a liability has been incurred) because the non-profit relied on the pledge being fulfilled. Lenders often use pledges as collateral for a loan to a non-profit. The donor’s pledge has induced other people to also make pledges. The non-profit’s accep­tance of the pledge is a promise PENSION BUYOUT OFFERS: 7 STEPS TO FOLLOW Step 1: Consider the offer carefully before accepting. This is a risk transfer from the employer to the employee. The pension plan currently has the risk of making the promised payments at retirement for the rest of your life. Accepting the buyout transfers investment risk to

you, the employee.

HOW TO LEGALLY TRANSFER AFTER-TAX MONEY INTO A TAX-FREE The formula for the pro-rata calcu­lation is – the total after-tax money in all IRAs divided by the total value of all IRAs multi­plied by the amount converted. For example, a taxpayer made three $5,000 non-deductible contri­bu­tions to an IRA over the past couple of years ($15,000). That IRA is now worth $20,000, including growth. PASSIVE INVESTING: INDEX MUTUAL FUNDS VS. ETFS In simple terms, an active strategy involves buying and selling, while a passive strategy involves buying and holding. With regards to mutual funds, the active strategy is often referred to as an actively managed fund, and a passive strategy can be found with index funds and exchange-traded funds (ETF). We believe that the tax efficient equity WHAT TO DO IF YOU MISS A REQUIRED MINIMUM DISTRIBUTION 1 IRS .gov search IRS Audits. 2 Paschall v. Commis­sioner, Docket Nos. 10478–08, 25825–08, filed July 5, 2011 HOW TO TITLE YOUR CARS TO LIMIT LIABILITY Assuming there is no loan on the car, the title can be trans­ferred through the Motor Vehicle Department for approx­i­mately $150. If you are an AAA member costs to transfer can be reduced by about $50. If a spouse is unable to obtain a loan on a car or if multiple cars are owned and driven by both spouses joint ownership may be necessary. LESSONS LEARNED FROM THE BERNIE MADOFF SCANDAL 10 Years Later: Lessons Learned from the Bernie Madoff Scandal. December 11, 2018 marked the 10 year anniversary of the arrest of Bernard Madoff, the main perpe­trator of the largest Ponzi scheme in history. His fraud was valued by regulators at approx­i­mately $64.8

billion.

CONSIDER DONATING STOCK TO YOUR CHURCH Step 1: Determine if your church has an account with a financial insti­tution to accept stock gifts. Step 2: Obtain the transfer infor­mation from the church’s financial insti­tution. Typically, your church treasurer will have access to this infor­mation. This transfer detail includes the DTC routing number as well as the church

account

SPECIALIZED FINANCIAL ADVISORS IN LANCASTER, PA Specialized Financial Advisors in Lancaster, PA - Rodgers & Associates. Protecting Your Wealth. Planning Your Future. We are fee-only financial advisers who focus on helping you become finan­cially independent for retirement. Together, we specialize in the needs of high-net worth investors and provide ongoing guidance that puts your interests WHAT IS THE WIDOW’S TAX AND HOW WILL IT AFFECT ME 2) She will be in a higher tax bracket. For a couple that is married filing jointly, the top of the 12% bracket in 2020 is $80,250. For a single person, the top of the 12% tax bracket in 2021 is $40,525. Therefore, as a single taxpayer, Janet will be subject to a higher tax

bracket of 22%.

FOLLOW THE RULES WHEN ROLLING OVER YOUR PENSION TO AN IRA Rolling over a company pension plan to an IRA is a simple procedure with basic rules. First, you must be separated from service to qualify for a rollover or the company must be offering to close out the plan. Second, if the funds are withdrawn from the company plan, they must be re-deposited into a quali­fying IRA or another pension plan EVALUATING WHERE TO RETIRE: PENNSYLVANIA VS. SURROUNDING 13. 10. 15. Source: MoneyRates, February 4, 2021. Retire­mentLiving placed Pennsyl­vania at number eight in their top ten states to retire to, noting the many senior housing options to choose from and housing afford­ability. Percent of Pop. 65+. 18.7%. Median Income. ROTH CONVERSIONS FOR PEOPLE OVER 70-1/2 The pro-rata rule applies to RMDs in the same way it is used for Roth conver­sions. For example, an IRA owner has an account worth $100,000, of which $15,000 is after-tax contri­bu­tions. The owner is over 70‑½ and has to take a $3,000 RMD before converting $20,000 to a Roth. 15% of the RMD ($450) is considered after-tax and 15% of

the

ARE QUALIFIED CHARITABLE DISTRIBUTIONS (QCD) PERMITTED This newsletter is a follow-up to the June 13, 2019 newsletter titled How Qualified Chari­table Distri­b­u­tions Can Impact Your Taxes and Favorite Charities.The focus of that newsletter was Qualified Chari­table Distri­b­u­tions (QCD). PASSIVE INVESTING: INDEX MUTUAL FUNDS VS. ETFS In simple terms, an active strategy involves buying and selling, while a passive strategy involves buying and holding. With regards to mutual funds, the active strategy is often referred to as an actively managed fund, and a passive strategy can be found with index funds and exchange-traded funds (ETF). We believe that the tax efficient equity ARE GIFTS TO CHILDREN TAX-DEDUCTIBLE? INTRODUCING CLATS Unfor­tu­nately, gifts to individuals are not tax deductible: tax deduc­tions can only be taken for gifts to organi­za­tions on the IRS list of approved charities. In fact, the IRS limits the amount of gifts you can make to any one person. As of 2021, the maximum gift exclusion is $15,000 per child, per parent. RISKS OF ADDING YOUR CHILD TO YOUR HOME’S DEED Many people think it is a good idea to put their child’s name on the deed to their home, especially if one of the parents is deceased. Usually the motivation is to avoid inher­i­tance tax and probate, or to prevent the family home from being sold to pay for nursing home

expenses.

DIFFERENCES BETWEEN SPOUSAL AND SURVIVOR BENEFITS The two benefits are similar because they are both based solely on the spouse’s work history. Spousal benefits are based on a living spouse or ex-spouse’s work history. Survivor benefits are based on a deceased spouse or ex-spouse’s work history. However, there are some very important differ­ences: The maximum spousal benefit is 50% of SPECIALIZED FINANCIAL ADVISORS IN LANCASTER, PA Specialized Financial Advisors in Lancaster, PA - Rodgers & Associates. Protecting Your Wealth. Planning Your Future. We are fee-only financial advisers who focus on helping you become finan­cially independent for retirement. Together, we specialize in the needs of high-net worth investors and provide ongoing guidance that puts your interests WHAT IS THE WIDOW’S TAX AND HOW WILL IT AFFECT ME 2) She will be in a higher tax bracket. For a couple that is married filing jointly, the top of the 12% bracket in 2020 is $80,250. For a single person, the top of the 12% tax bracket in 2021 is $40,525. Therefore, as a single taxpayer, Janet will be subject to a higher tax

bracket of 22%.

EVALUATING WHERE TO RETIRE: PENNSYLVANIA VS. SURROUNDING 13. 10. 15. Source: MoneyRates, February 4, 2021. Retire­mentLiving placed Pennsyl­vania at number eight in their top ten states to retire to, noting the many senior housing options to choose from and housing afford­ability. Percent of Pop. 65+. 18.7%. Median Income. FOLLOW THE RULES WHEN ROLLING OVER YOUR PENSION TO AN IRA Rolling over a company pension plan to an IRA is a simple procedure with basic rules. First, you must be separated from service to qualify for a rollover or the company must be offering to close out the plan. Second, if the funds are withdrawn from the company plan, they must be re-deposited into a quali­fying IRA or another pension plan ROTH CONVERSIONS FOR PEOPLE OVER 70-1/2 The pro-rata rule applies to RMDs in the same way it is used for Roth conver­sions. For example, an IRA owner has an account worth $100,000, of which $15,000 is after-tax contri­bu­tions. The owner is over 70‑½ and has to take a $3,000 RMD before converting $20,000 to a Roth. 15% of the RMD ($450) is considered after-tax and 15% of

the

ARE QUALIFIED CHARITABLE DISTRIBUTIONS (QCD) PERMITTED This newsletter is a follow-up to the June 13, 2019 newsletter titled How Qualified Chari­table Distri­b­u­tions Can Impact Your Taxes and Favorite Charities.The focus of that newsletter was Qualified Chari­table Distri­b­u­tions (QCD). PASSIVE INVESTING: INDEX MUTUAL FUNDS VS. ETFS In simple terms, an active strategy involves buying and selling, while a passive strategy involves buying and holding. With regards to mutual funds, the active strategy is often referred to as an actively managed fund, and a passive strategy can be found with index funds and exchange-traded funds (ETF). We believe that the tax efficient equity ARE GIFTS TO CHILDREN TAX-DEDUCTIBLE? INTRODUCING CLATS Unfor­tu­nately, gifts to individuals are not tax deductible: tax deduc­tions can only be taken for gifts to organi­za­tions on the IRS list of approved charities. In fact, the IRS limits the amount of gifts you can make to any one person. As of 2021, the maximum gift exclusion is $15,000 per child, per parent. RISKS OF ADDING YOUR CHILD TO YOUR HOME’S DEED Many people think it is a good idea to put their child’s name on the deed to their home, especially if one of the parents is deceased. Usually the motivation is to avoid inher­i­tance tax and probate, or to prevent the family home from being sold to pay for nursing home

expenses.

DIFFERENCES BETWEEN SPOUSAL AND SURVIVOR BENEFITS The two benefits are similar because they are both based solely on the spouse’s work history. Spousal benefits are based on a living spouse or ex-spouse’s work history. Survivor benefits are based on a deceased spouse or ex-spouse’s work history. However, there are some very important differ­ences: The maximum spousal benefit is 50% of TRADITIONAL IRAS ARE NOT LIKE OTHER ASSETS IN YOUR ESTATE Tradi­tional IRAs are subject to a unique set of complex rules. Here are 6 signif­icant differ­ences between IRAs and other financial assets: Unless payable to an estate, IRAs do not pass through the will. Your IRA account has a benefi­ciary, who will receive your IRA at death, regardless of what you state in your will or living trust. WAYS TO EXIT YOUR TIMESHARE 3/5/2021 3 The Timeshare Contract –Clauses to Look For A term offorever? Representations made by Timeshare Sellers The Arbitration clause Leasing and Resale Restrictions on Transfers Maintenance Fees Where is the term? What other services must you pay for in perpetuity? As persons age, they may not be able to travel as easily or they may require more accessible NON-PROFIT PLEDGE OBLIGATIONS: WHAT TO KNOW Pledges have been held binding because: Work has begun (or a liability has been incurred) because the non-profit relied on the pledge being fulfilled. Lenders often use pledges as collateral for a loan to a non-profit. The donor’s pledge has induced other people to also make pledges. The non-profit’s accep­tance of the pledge is a promise PENSION BUYOUT OFFERS: 7 STEPS TO FOLLOW Step 1: Consider the offer carefully before accepting. This is a risk transfer from the employer to the employee. The pension plan currently has the risk of making the promised payments at retirement for the rest of your life. Accepting the buyout transfers investment risk to

you, the employee.

HOW TO LEGALLY TRANSFER AFTER-TAX MONEY INTO A TAX-FREE The formula for the pro-rata calcu­lation is – the total after-tax money in all IRAs divided by the total value of all IRAs multi­plied by the amount converted. For example, a taxpayer made three $5,000 non-deductible contri­bu­tions to an IRA over the past couple of years ($15,000). That IRA is now worth $20,000, including growth. PASSIVE INVESTING: INDEX MUTUAL FUNDS VS. ETFS In simple terms, an active strategy involves buying and selling, while a passive strategy involves buying and holding. With regards to mutual funds, the active strategy is often referred to as an actively managed fund, and a passive strategy can be found with index funds and exchange-traded funds (ETF). We believe that the tax efficient equity WHAT TO DO IF YOU MISS A REQUIRED MINIMUM DISTRIBUTION 1 IRS .gov search IRS Audits. 2 Paschall v. Commis­sioner, Docket Nos. 10478–08, 25825–08, filed July 5, 2011 HOW TO TITLE YOUR CARS TO LIMIT LIABILITY Assuming there is no loan on the car, the title can be trans­ferred through the Motor Vehicle Department for approx­i­mately $150. If you are an AAA member costs to transfer can be reduced by about $50. If a spouse is unable to obtain a loan on a car or if multiple cars are owned and driven by both spouses joint ownership may be necessary. LESSONS LEARNED FROM THE BERNIE MADOFF SCANDAL 10 Years Later: Lessons Learned from the Bernie Madoff Scandal. December 11, 2018 marked the 10 year anniversary of the arrest of Bernard Madoff, the main perpe­trator of the largest Ponzi scheme in history. His fraud was valued by regulators at approx­i­mately $64.8

billion.

CONSIDER DONATING STOCK TO YOUR CHURCH Step 1: Determine if your church has an account with a financial insti­tution to accept stock gifts. Step 2: Obtain the transfer infor­mation from the church’s financial insti­tution. Typically, your church treasurer will have access to this infor­mation. This transfer detail includes the DTC routing number as well as the church

account

SPECIALIZED FINANCIAL ADVISORS IN LANCASTER, PA Specialized Financial Advisors in Lancaster, PA - Rodgers & Associates. Protecting Your Wealth. Planning Your Future. We are fee-only financial advisers who focus on helping you become finan­cially independent for retirement. Together, we specialize in the needs of high-net worth investors and provide ongoing guidance that puts your interests WHAT IS THE WIDOW’S TAX AND HOW WILL IT AFFECT ME 2) She will be in a higher tax bracket. For a couple that is married filing jointly, the top of the 12% bracket in 2020 is $80,250. For a single person, the top of the 12% tax bracket in 2021 is $40,525. Therefore, as a single taxpayer, Janet will be subject to a higher tax

bracket of 22%.

FOLLOW THE RULES WHEN ROLLING OVER YOUR PENSION TO AN IRA Rolling over a company pension plan to an IRA is a simple procedure with basic rules. First, you must be separated from service to qualify for a rollover or the company must be offering to close out the plan. Second, if the funds are withdrawn from the company plan, they must be re-deposited into a quali­fying IRA or another pension plan EVALUATING WHERE TO RETIRE: PENNSYLVANIA VS. SURROUNDING 13. 10. 15. Source: MoneyRates, February 4, 2021. Retire­mentLiving placed Pennsyl­vania at number eight in their top ten states to retire to, noting the many senior housing options to choose from and housing afford­ability. Percent of Pop. 65+. 18.7%. Median Income. ROTH CONVERSIONS FOR PEOPLE OVER 70-1/2 The pro-rata rule applies to RMDs in the same way it is used for Roth conver­sions. For example, an IRA owner has an account worth $100,000, of which $15,000 is after-tax contri­bu­tions. The owner is over 70‑½ and has to take a $3,000 RMD before converting $20,000 to a Roth. 15% of the RMD ($450) is considered after-tax and 15% of

the

ARE QUALIFIED CHARITABLE DISTRIBUTIONS (QCD) PERMITTED This newsletter is a follow-up to the June 13, 2019 newsletter titled How Qualified Chari­table Distri­b­u­tions Can Impact Your Taxes and Favorite Charities.The focus of that newsletter was Qualified Chari­table Distri­b­u­tions (QCD). PASSIVE INVESTING: INDEX MUTUAL FUNDS VS. ETFS In simple terms, an active strategy involves buying and selling, while a passive strategy involves buying and holding. With regards to mutual funds, the active strategy is often referred to as an actively managed fund, and a passive strategy can be found with index funds and exchange-traded funds (ETF). We believe that the tax efficient equity ARE GIFTS TO CHILDREN TAX-DEDUCTIBLE? INTRODUCING CLATSARE GIFTS TO FAMILY DEDUCTIBLEARE GRADUATION GIFTS TAX DEDUCTIBLE Unfor­tu­nately, gifts to individuals are not tax deductible: tax deduc­tions can only be taken for gifts to organi­za­tions on the IRS list of approved charities. In fact, the IRS limits the amount of gifts you can make to any one person. As of 2021, the maximum gift exclusion is $15,000 per child, per parent. RISKS OF ADDING YOUR CHILD TO YOUR HOME’S DEED Many people think it is a good idea to put their child’s name on the deed to their home, especially if one of the parents is deceased. Usually the motivation is to avoid inher­i­tance tax and probate, or to prevent the family home from being sold to pay for nursing home

expenses.

DIFFERENCES BETWEEN SPOUSAL AND SURVIVOR BENEFITS The two benefits are similar because they are both based solely on the spouse’s work history. Spousal benefits are based on a living spouse or ex-spouse’s work history. Survivor benefits are based on a deceased spouse or ex-spouse’s work history. However, there are some very important differ­ences: The maximum spousal benefit is 50% of SPECIALIZED FINANCIAL ADVISORS IN LANCASTER, PA Specialized Financial Advisors in Lancaster, PA - Rodgers & Associates. Protecting Your Wealth. Planning Your Future. We are fee-only financial advisers who focus on helping you become finan­cially independent for retirement. Together, we specialize in the needs of high-net worth investors and provide ongoing guidance that puts your interests WHAT IS THE WIDOW’S TAX AND HOW WILL IT AFFECT ME 2) She will be in a higher tax bracket. For a couple that is married filing jointly, the top of the 12% bracket in 2020 is $80,250. For a single person, the top of the 12% tax bracket in 2021 is $40,525. Therefore, as a single taxpayer, Janet will be subject to a higher tax

bracket of 22%.

FOLLOW THE RULES WHEN ROLLING OVER YOUR PENSION TO AN IRA Rolling over a company pension plan to an IRA is a simple procedure with basic rules. First, you must be separated from service to qualify for a rollover or the company must be offering to close out the plan. Second, if the funds are withdrawn from the company plan, they must be re-deposited into a quali­fying IRA or another pension plan EVALUATING WHERE TO RETIRE: PENNSYLVANIA VS. SURROUNDING 13. 10. 15. Source: MoneyRates, February 4, 2021. Retire­mentLiving placed Pennsyl­vania at number eight in their top ten states to retire to, noting the many senior housing options to choose from and housing afford­ability. Percent of Pop. 65+. 18.7%. Median Income. ROTH CONVERSIONS FOR PEOPLE OVER 70-1/2 The pro-rata rule applies to RMDs in the same way it is used for Roth conver­sions. For example, an IRA owner has an account worth $100,000, of which $15,000 is after-tax contri­bu­tions. The owner is over 70‑½ and has to take a $3,000 RMD before converting $20,000 to a Roth. 15% of the RMD ($450) is considered after-tax and 15% of

the

ARE QUALIFIED CHARITABLE DISTRIBUTIONS (QCD) PERMITTED This newsletter is a follow-up to the June 13, 2019 newsletter titled How Qualified Chari­table Distri­b­u­tions Can Impact Your Taxes and Favorite Charities.The focus of that newsletter was Qualified Chari­table Distri­b­u­tions (QCD). PASSIVE INVESTING: INDEX MUTUAL FUNDS VS. ETFS In simple terms, an active strategy involves buying and selling, while a passive strategy involves buying and holding. With regards to mutual funds, the active strategy is often referred to as an actively managed fund, and a passive strategy can be found with index funds and exchange-traded funds (ETF). We believe that the tax efficient equity ARE GIFTS TO CHILDREN TAX-DEDUCTIBLE? INTRODUCING CLATSARE GIFTS TO FAMILY DEDUCTIBLEARE GRADUATION GIFTS TAX DEDUCTIBLE Unfor­tu­nately, gifts to individuals are not tax deductible: tax deduc­tions can only be taken for gifts to organi­za­tions on the IRS list of approved charities. In fact, the IRS limits the amount of gifts you can make to any one person. As of 2021, the maximum gift exclusion is $15,000 per child, per parent. RISKS OF ADDING YOUR CHILD TO YOUR HOME’S DEED Many people think it is a good idea to put their child’s name on the deed to their home, especially if one of the parents is deceased. Usually the motivation is to avoid inher­i­tance tax and probate, or to prevent the family home from being sold to pay for nursing home

expenses.

DIFFERENCES BETWEEN SPOUSAL AND SURVIVOR BENEFITS The two benefits are similar because they are both based solely on the spouse’s work history. Spousal benefits are based on a living spouse or ex-spouse’s work history. Survivor benefits are based on a deceased spouse or ex-spouse’s work history. However, there are some very important differ­ences: The maximum spousal benefit is 50% of TEAM - RODGERS & ASSOCIATES The singular goal of each individual at Rodgers & Associates is to help clients become finan­cially independent for retirement. Our team approach to client service has evolved over our 20+ years. By working together, we can take advantage of the strengths and experience of each person to make sure each client receives the same high-quality ROTH IRAS AND THE PRO-RATA RULE The formula for the pro-rata calcu­lation is the total after-tax money in all IRAs divided by total value of all IRAs multi­plied by the amount converted. For example, a taxpayer makes three $5,000 non-deductible contri­bu­tions to an IRA over the past couple of years (a total of $15,000). The IRA is now worth $20,000, including

growth.

TRADITIONAL IRAS ARE NOT LIKE OTHER ASSETS IN YOUR ESTATE Tradi­tional IRAs are subject to a unique set of complex rules. Here are 6 signif­icant differ­ences between IRAs and other financial assets: Unless payable to an estate, IRAs do not pass through the will. Your IRA account has a benefi­ciary, who will receive your IRA at death, regardless of what you state in your will or living trust. PAY TAXES ONCE, INSTEAD OF FOUR TIMES, USING YOUR IRA’S Age 72 is an important milestone for IRA owners. It’s the so-called “day of reckoning” when the IRS begins collecting taxes on your deferred retirement savings. 2 WAYS TO HELP ADULT CHILDREN FINANCIALLY 2 Ways to Help Children and Grandchildren FinanciallyWithout Spoiling Them. “Don’t save what is left after spending; spend what is left after saving.”–. Warren Buffet. One of the most important financial lessons to teach our children and grand­children is the impor­tance of saving and investing. We all start out life by working

for

LESSONS LEARNED FROM THE BERNIE MADOFF SCANDAL 10 Years Later: Lessons Learned from the Bernie Madoff Scandal. December 11, 2018 marked the 10 year anniversary of the arrest of Bernard Madoff, the main perpe­trator of the largest Ponzi scheme in history. His fraud was valued by regulators at approx­i­mately $64.8

billion.

DO YOU HOLD TITLE CORRECTLY FOR YOUR REAL ESTATE Do You Hold Title Correctly for Your Real Estate? Property title questions during financial planning inter­views often draw blank stares. Yet, under­standing the differ­ences among tenants-in-common, joint tenancy and community property is important for creditor protection issues, estate planning, and marital

disso­lution.

HOW TO TITLE YOUR CARS TO LIMIT LIABILITY Assuming there is no loan on the car, the title can be trans­ferred through the Motor Vehicle Department for approx­i­mately $150. If you are an AAA member costs to transfer can be reduced by about $50. If a spouse is unable to obtain a loan on a car or if multiple cars are owned and driven by both spouses joint ownership may be necessary. THE PROS AND CONS OF RETIRING IN PENNSYLVANIA This is a big advantage for a retiree! When it comes to taxable income such as wages and investment income, Pennsyl­vania has one of the lowest income tax rates – a flat rate 3.07%. Some munic­i­pal­ities have their own additional income tax ranging from 1% to a high of 3.928% in Philadelphia. The state sales tax is 6%, but

food, clothing

THIS IS WHY YOU GOT A FORM 5498 AFTER FILING YOUR TAXES Form 5498 reports infor­mation about IRA contri­bu­tions, rollovers, Roth IRA conver­sions and required minimum distri­b­u­tions (RMD). Custo­dians of all types of IRAs – tradi­tional, Roth, and SEP & SIMPLE – use this form for reporting. The type of IRA is noted in box 7. All IRA contri­bu­tions for the

tax year are added

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PROTECTING YOUR WEALTH, PLANNING FOR YOUR FUTURE Rodgers & Associates financial advisers specialize in financial planning for investors who are retired or expect to retire within five

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Today, individuals retire earlier and live longer than ever before. The new wisdom is to plan for thirty years of retirement. We work with clients to free them from their concern that they will outlive their

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LATEST NEWSLETTERS

WHAT TO DO IF YOU MISS A REQUIRED MINIMUM DISTRIBUTION (RMD): REPORT

ON IRS FORM 5329

October 17, 2019

How to avoid taking a 50% tax penalty on your required minimum distributions (RMD) and how to correct missed RMDs. DATA BREACHES ARE ON THE RISE: HOW TO PROTECT YOUR PERSONAL

INFORMATION

October 3, 2019

Learn how to protect yourself from data breaches, and what you can do if your information is compromised.

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LATEST BLOG POSTS

REPORTING TO CREDIT AGENCIES AFTER DEATH By Robin Russo, October 17, 2019 Managing finances as a recent widow or widower is a hard but necessary task. Rodgers and Associates can provide the help needed to make the

transition easier.

Read more »

THE PRESIDENTIAL ELECTION CYCLE THEORY IS JUST ANOTHER GUESS By Tiffany Leherr, September 19, 2019 The Presidential Election Cycle Theory states the stock market is weakest in year one of a presidential term and then improves. Is it a theory you can rely on?

Read more »

ARE YOU MISSING OUT ON THESE 3 COMMON TAX STRATEGIES FOR RETIREES? By Mike Helveston, August 15, 2019 There are a few tax strategies for retirees that could increase your refund or at least help to trim the tax you owe.

Read more »

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LATEST UPDATES

RODGERS & ASSOCIATES RETURNS AS A PRESENTING SPONSOR OF THE

EXTRAORDINARY GIVE

Friday, November 22nd is Lancaster County's Largest Day of Online Giving. The Extraordinary Give is a chance for you to be a part of this community-wide celebration of giving. Click here for a message from Rick Rodgers about this great event. RODGERS & ASSOCIATES WILL AGAIN SERVE AS A DROP-OFF LOCATION FOR TOYS

FOR TOTS

Please consider bringing a new, unwrapped toy to donate when you visit our office from now until December 6th.  We are located at 2025 Lititz Pike, Lancaster PA

17601.

RICK RODGERS IS GUEST ON WITF SMART TALK Rick was a guest on WITF Radio Smart Talk program, “When Planning for Retirement, Timing is Everything

”

that aired on August 2nd. RODGERS & ASSOCIATES WAS NAMED LANCASTER’S BEST WEALTH ADVISER Susquehanna Style Magazine’s

readers

have selected Rodgers & Associates as the best Wealth Management Firm in Lancaster for 2019. (Details

)

RICK RODGERS’ PODCAST INTERVIEW Rick Rodgers was a guest on the Money Tree Podcast. He shared some information on long term tax strategies. You can listen to the

interview here

.

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Rodgers & Associates is a wealth management firm located in Lancaster, PA. Our financial advisers offer fee-only financial planning to clients in the Central Pennsylvania area as well as across the

country.

* As a Registered Investment Adviser (RIA)*, we are held to a fiduciary responsibility, placing our clients’ interests above all

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* We believe that objective Certified Financial Planner™ professionals and members of the National Association of Personal Financial Advisors (NAPFA) represent their clients’ best interests throughout the planning process. * Our wealth management service extends beyond asset and investment management to include tax planning, charitable giving and estate planning, creating efficiencies wherever possible. * Our team of financial planners follows our proprietary six-point process, WealthGuard ™, as they work with you to help protect the wealth you’ve built. * For each of our clients, we develop, follow, and maintain a written plan for financial independence and a worry-free retirement. *Registration as an investment adviser does not imply any level of

skill or training.

DON'T RETIRE BROKE:

An Indispensable Guide to Tax-Efficient Retirement Planning and

Financial Freedom

Using easy-to-understand language and real-life examples, Rick teaches you how you can avoid savings pitfalls and costly tax mistakes—many you may not even know about—to help you enjoy the retirement

lifestyle you want.

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