Dealing with Asset Basis
Deciding whether you should give a significant
asset to an heir during your life or after your death has typically
involved weighing potential estate tax costs against capital gains
taxes that would be due when the asset is sold. Now that the estate tax exclusion amount is so high ($2,000,000
in 2006), many individuals do not need to focus on estate taxes.
[FULL ARTICLE]
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Estate Planning for Retirement Accounts
For many people, retirement accounts, including
401(k) plans and individual retirement accounts (IRAs), are their
most significant assets. While you may think you'll need every
bit of money in those accounts for your retirement, what would
happen if you die at an early age? You should include them in
your estate plan so heirs inherit them with minimum estate and
income tax effects.
[FULL ARTICLE]
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How Useful Are Financial Rules of Thumb?
Financial rules of thumb are designed to
give you quick guidelines for your finances and cover a wide variety of topics, including saving for retirement, life insurance amounts, debt levels, asset allocation, and the size of emergency funds. However, you shouldn't
follow them without giving some thought to your personal circumstances.
[FULL ARTICLE]
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Should You Elect Early Social Security Benefits?
One of the most critical decisions regarding
Social Security benefits is deciding when to start those benefits.
The age for full Social Security benefits is increasing from 65
to 67 for individuals born after 1937. You can still elect benefits
at age 62, but the permanent reduction in benefits is higher. Carefully consider the advantages and disadvantages
before electing benefits at age 62. While it may seem attractive
to start retirement at age 62, you are taking a substantial, permanent
reduction in your Social Security benefits to do so.
[FULL ARTICLE]
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The Basics of Credit Scores
When lenders evaluate a credit application,
they usually request both your credit report and your credit score,
which is a mathematical calculation based on information on your
credit report. The score is intended to rate your credit risk,
although other factors, such as your income, length of employment,
and years resided in your home, are also considered.
[FULL ARTICLE]
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David K. Sebastian, CFP®, and his team of experts at The Physicians Wealth Management Group specialize in working with individual physicians and group medical practices. David is considered to be one of the top financial advisors in the country with more than twenty five years of Wall Street experience as a chief investment officer, portfolio manager, institutional bond trader, and estate planning, benefits planning and retirement consultant.
Commitment to his clients’ financial needs and well being is a primary motivation for David.
The Physicians Wealth Management Group was specifically created to address and manage all of the unique financial challenges that doctors are facing both individually and through their group medical practices.
Feel free to contact me at
www.physicianswealth.com or
dsebastian@sfr1.com
or call me at (973) 285-3600
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