By Dan Moisand | November 14, 2014 | Comments Off on Should I convert to a Roth IRA?
Making News…
We produce regular Q&A columns for Florida Today and MarketWatch, a personal finance website of the Wall Street Journal, as well as pieces for Financial Advisor magazine, the Journal of Financial Planning, and Nerd Wallet among others. Here is a sampling from the last three months.
We also act as a source to many prominent media outlets, speak at and/or attend various conferences, and advocate for the development of financial planning as a profession.
Ron Tamayo was named a NAPFA Registered Financial Advisor by the National Association of Personal Financial Advisors after passing a peer review of our planning processes. NAPFA is the only professional association strictly for fee-only financial planners. Ron will be our primary representative for our firm in the Orlando area.
“The longer you wait, the more you get from Social Security, but the more of your own money you have to spend in the meantime,” explained Dan Moisand in a CNBC piece about the importance of creating a strategy for retirement as one approaches age 60.
At the end of each year a slew of inflation adjustments are announced by the government. Among them:
For 2015 Social Security benefits will see a 1.7% increase.
For retirement savings, the elective deferral (contribution) limit for employees who participate in 401(k), 403(b), most 457 plans, and the federal government’s Thrift Savings Plan is increased from $17,500 to $18,000. The catch-up contribution limit for employees aged 50 and over who participate in 401(k), 403(b), most 457 plans, and the federal government’s Thrift Savings Plan is increased from $5,500 to $6,000.
The limit on annual contributions to an Individual Retirement Arrangement (IRA) remains unchanged at $5,500 as does the $1,000 additional catch-up contribution limit for individuals at least 50 years old.
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Moisand Fitzgerald Tamayo, LLC is an Orlando, Tampa and Melbourne, Florida based fee-only financial planner serving central Florida and clients across the country. Moisand Fitzgerald Tamayo, LLC specializes in providing objective financial planning, retirement planning, and investment management to help clients build, manage, grow, and protect their assets through all phases of one’s life and the many transitions in between. If you have any questions or would like to discuss anything further, please give us a call or send us a note. If you are not a client and wish to receive emails notifying you of new posts – no more than once per month – fill out the subscription information in the sidebar to the right. For more frequent updates, follow us on Facebook, LinkedIn, orTwitter.
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Dan Moisand is a fee-only financial advisor with Moisand Fitzgerald Tamayo, LLC. He is a regular contributor for multiple outlets, including Florida Today, MarketWatch, and The Wall Street Journal. His writing and financial advice have also been featured in Financial Planning, Investment Advisor, Wealth Manager/Advising Boomers, Forbes, Smart Money, and The New York Times, among other publications. He is the only two-time winner of the Journal of Financial Planning’s “Call for Papers” competition and has been named a top financial planner and advisor by multiple publications. Investment News named Dan one of the “twenty most influential men and women” in the history of financial planning. He currently serves on the Board of Directors for the CFP (Certified Financial Planner) Board.
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