A backdoor Roth is a way of funding a Roth when you are ineligible to do so by income limits. This is either done through after-tax 401k rollovers from a company sponsored plan or by converting amounts from a traditional IRA account. You will want to consider the tax implications before funding a backdoor Roth.

This will vary depending on the type of plan, your income, and your age. For 2024, you can contribute $23,000 into a 401k if you are eligible for a plan through your employer. If you are 50 or older, you can increase that contribution to $30,500. If you have a different type of company retirement plan or want to fund your own IRA, Roth IRA, or SEP IRA we can talk with you about specific limits.

A fiduciary acts on behalf of another individual and puts the client interests ahead of their own. As fiduciary Financial Advisors, we hold ourselves to a high ethical standard and do all we can to earn the trust of clients.

ESG stands for Environmental, Social, and Governance. More and more analysts and investment offerings are evaluating companies on these non-financial factors to measure sustainability. We see this as a welcome and lasting trend in the investment landscape.

Roth and Traditional IRAs are both tax-advantaged, but in opposite ways. With a Roth, you pay tax on your contributions up front but all earnings and growth over time come out tax-free so long as they are qualified. Roths tend to benefit people who are younger with more years to invest and in a lower tax bracket. With Traditional IRAs, the opposite is true. What you put in as a contribution is not taxed now, but will be taxed in the future as you take withdrawals. These contributions tend to benefit working individuals in a high tax bracket who want to bring down their taxable income. We can help you decide what is best in your situation.

The answer is now. Nearly everyone can benefit from working with a financial advisor and the earlier you start, the better. Financial advice can help individuals at any life phase. Reach out to us if you think you could benefit from financial services.

No! Even if you have entered retirement without an advisor, it’s not too late to work with one now. We can still assist in providing income planning and a clear strategy to utilize all resources available to you.

Though we do not file tax returns at CGW, we utilize a lot of tax planning in our strategies. We work closely with clients’ CPAs to ensure compliance in our plans.

An RMD is a required minimum distribution. After you reach a certain age, currently age 73, the government requires that portions of tax-advantaged accounts (401Ks, 403Bs, IRAs, etc.) be distributed annually and taxes paid on the distributions. These are also required for certain inherited accounts. We can help you understand your RMD requirements and how to plan around them.

529 College Savings accounts allow for funds to be invested for a beneficiary and utilized tax-free for college, private schooling or other educational costs. They are a great method to try and achieve a tax-advantaged way to pay for college.

We include insurance analysis in our services and are licensed to sell insurance. However, we tend to work with some great partners for issuing new policies. If you have an insurance question, we are happy to help and point you in the right direction.