-
Securing Your Legacy: A Comprehensive Guide to Wealth Transfer
By Corey Gragg, CFP® Many individuals and couples want to leave a lasting impression on their loved ones. For some, part of this lasting impression, or legacy, can be created by passing assets to the next generation. The transfer of wealth can occur at death through a will, life insurance, trust, or other estate planning…
-
Charitable Giving & RMDs: A Win-Win Strategy for Retirees
By Corey Gragg, CFP® Many dream of leaving a legacy—and required minimum distributions (RMDs) may offer a path for leaving yours. Using RMDs to facilitate charitable gifts can be a valuable tax strategy for retirees. If you want to turn your generosity into a tax break, you’ll need to navigate the eligibility requirements and limits…
-
Maximizing Your Retirement Savings: The Complete Guide to Roth IRA Conversions
By Corey Gragg, CFP® Wouldn’t it be nice if saving for retirement was straightforward? Instead, it may feel like anything but—especially when choosing from the many available options. While most people know they need to invest, it can be overwhelming to sift through all the information about Traditional IRAs vs. Roth IRAs, pre-tax vs. Roth…
-
Increase Your Savings: How Donor-Advised Funds Can Reduce Your Tax Burden
By Dan Owens, CPWA® Benjamin Franklin is quoted as saying that the only certainties in life are death and taxes. While we may not be able to avoid either one, there are plenty of ways we can help reduce our tax burden and increase our savings. One such way is through a donor-advised fund. A…
-
Top 5 Financial Mistakes Every Business Owner Should Avoid
By Dan Owens, CPWA® Small businesses are the backbone of our country. At Elk River Wealth Management, we specialize in helping business owners manage their personal finances, understand how their business fits into their overall financial plan, and avoid pitfalls that can derail life. In working with our clients, we often see business owners make…