by Springwater Wealth | Oct 10, 2024 | Financial Planning, Retirement Concerns, Retirement Plans, Wealth Management
What is Medicare IRMAA? The Income-Related Monthly Adjustment Amount (IRMAA) is an additional charge applied to Medicare premiums for individuals with higher incomes. IRMAA applies to both Medicare Part B (medical insurance) and Medicare Part D (prescription drug...
by Springwater Wealth | Jul 25, 2024 | Investment Management, Wealth Management
One of the big talking points of target date funds (or TDFs) by the companies who manage them is that they eliminate the “guesswork” of asset allocation for investors. The only problem is that their guesswork too often leaves a lot to be desired. It doesn’t make sense...
by Springwater Wealth | Jul 20, 2024 | Financial Planning, Retirement Plans, Taxes, Wealth Management
The Internal Revenue Service has finally clarified the rules on required distributions from inherited retirement accounts, like IRAs, 401(k)s and 403(b)s. The rules affect most heirs, but not spouses. The new guidance applies to both future inheritors and those who...
by Springwater Wealth | Jul 18, 2024 | Financial Planning, Retirement Concerns, Wealth Management
Increasing life expectancy has profound implications for retirement planning. As people live longer, they need to ensure their financial resources can sustain them for an extended period, potentially decades beyond their working years. This longevity factor introduces...
by Springwater Wealth | Jun 17, 2024 | Divorce Financial Planning, Estate Planning, Financial Planning, Retirement Concerns, Wealth Management
What is the Survivor Penalty? The Survivor Penalty refers to the increased tax burden and potential reduction in benefits that occur when a married person becomes widowed. This life change often leads to higher taxes and reduced income for the surviving spouse. Why...
by Springwater Wealth | May 1, 2024 | Financial Planning, Investment Management, Taxes, Wealth Management
When planning for a secure and comfortable retirement, converting a traditional Individual Retirement Account (IRA) to a Roth IRA can have major long-term benefits. While everyone’s financial situation differs, there are several compelling reasons why converting some...
