Your Life. Your Needs. Your Plan.
Greetings!

Hoping this finds you well.

One major hurdle in doing a Roth Conversion is you need to pay the taxes now on the amount converted. 

The amount converted gets added to your income for that year so for example, if your income was 95k and you convert 50k, your taxable income that year is based on 145k.

Check out this week's blog below to see why a Roth Conversion might not make sense for you.

Rick Fingerman, CFP® and Lyman H. Jackson, CFP®
Independent. Fee-only. Fiduciaries
4 Reasons a Roth IRA Conversion Might Not Make Sense 
"Mary" gave me a call last week. She had read a blog article I had written back in July of last year on Roth IRA conversions.
We Specialize In Three Areas
Retirement
Whether in retirement or nearing retirement, our disciplined approach will help ensure you are on track
Women in Transition
Recently widowed or divorced, our compassionate approach will give you peace of mind and a sense of empowerment
Paying for College
With skyrocketing costs and little time left to save, without a college plan, one's retirement could be in jeopardy
Should We All Take Aspirin to Prevent Heart Disease?
The benefits of taking a daily aspirin must be weighed against the risk of internal bleeding.
Radio Garden
This site is pretty cool. It allows you to listen to radio stations literally all over the world.

Are you from Spain, Iceland, Dublin, Sidney, or Greece etc, and miss your home's stations?
Tax Tips for 2020 and beyond

In this short video, Rick offers some last minute tips for 2020 tax year as well as ideas to lower taxes going forward.
41 Facts about Dogs
John of Mental Floss shares some paw-some facts about dogs.

The Beatles song, A Day in the Life may get your dog to sit up and pay attention. This and 40 other fun facts.
A Beginner's Guide to Investing

The premise of investing is that you put money into a product, company, or business now with the hope that the product, company, or business will continue to grow and create wealth.

This article walks you through the basics.

Recipe of the Week

Teriyaki Veggie Noodle Bowl
Teriyaki Veggie Noodle Bowl is a simple weeknight meal that can be on your table in less than a half an hour.
Quote of the Week
"It's better to burn out than it is to rust."

- Neil Young
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Financial Planning Solutions, LLC ("FPS") is a fee only Registered Investment Advisor ("RIA") located in the Commonwealth of Massachusetts. FPS provides asset management and related services for clients nationally and internationally. FPS will notice file and maintain all applicable licenses as required by the various states in which FPS conducts business, as applicable. FPS renders individualized responses to persons in a particular state only after complying with all regulatory requirements, or pursuant to an applicable state exemption or exclusion. 
The opinions and comments of this newsletter are those of Financial Planning Solutions, LLC and are not intended as specific advice or recommendations. To understand what investments are right for you and your situation, it is recommended that you sit down with a Certified Financial Planner™ Practitioner that understands your financial situation, goals and desires. This information is being provided as a courtesy. When accessing the website links, you are leaving this site and assume total responsibility and risk for the sites you are visiting. We also make no representation of the completeness or accuracy of websites.
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