How to Treat Inherited Individual Retirement Accounts

May 25, 2022By KrostWealth

The SECURE Act, which became effective on January 1, 2021, changed the rules for inherited IRAs. Prior to that, the rules were very beneficial to non-spousal beneficiaries. The act upended the “life expectancy” rule for distributions and, in its place, created the 10-year rule for non-spousal beneficiaries. The act establishes a time period of 10 Read the full article…

What is a Trust?

March 8, 2022By Phil Clark, CPWA®,CFP®, CLU®

A trust is a legal agreement between two parties: the trustee and the trustor (sometimes called the settlor or grantor). The trustor is the person who establishes the trust and transfers assets into it. The trustee is the person or entity responsible for managing those assets according to the trustor’s wishes. Often the trustor will also be the trustee, Read the full article…

Quarterly Client Letter – Q3 2021

November 12, 2021By Phil Clark, CPWA®,CFP®, CLU®

In this quarter’s letter, I keep thinking about the difference between familiar and normal. In so many areas of our lives, the normal has given way to the familiar. What was once not normal has become familiar, ie. wearing masks, schools and restaurants closing, hand-washing stations. Also, the opposite is true that what was once normal Read the full article…

Quarterly Client Letter – Q2 2021

July 29, 2021By Phil Clark, CPWA®,CFP®, CLU®

The three horsemen of the retirement apocalypse. Dramatic, yes.  Accurate, yes. Scary, maybe. I consider the most significant risks to a healthy and well-planned retirement: Low-Interest Rates Inflation Healthcare Costs The 2nd quarter of 2021 was marked with expansive growth in both GDP and, more importantly, inflation.  As communicated in the Quarterly Economic Update, “According Read the full article…

Quarterly Client Letter – Q2 2020

August 17, 2020By KrostWealth

This last quarter saw violent fluctuations in the capital markets, which have shaken the very core of retail investing for private clients as well as created massive stimulus actions by the federal government. Good thing we didn’t have anything else going on at the time! Oh, wait. COVID-19 has blanketed our country for a second Read the full article…

Quarterly Client Letter – Q1 2020

April 16, 2020By KrostWealth

A computer programmer named David Cook started a company in Dallas, Texas in 1985. After two years, Cook sold the company Blockbuster for $18.5 million, missing one of the most impractical run-ups in history. By 1992, this once small retail shop was sold again for $8.4 billion. By the late 90s, Cook’s bright idea for Read the full article…

Keep Your Life Insurance When You Retire

August 16, 2019By KrostWealth

Some good reasons to retain it. Do you need a life insurance policy in retirement? One school of thought says no. The kids are grown, and the need to financially insulate the household against the loss of a breadwinner has passed. If you are thinking about dropping your coverage for either or both of those Read the full article…