Three Important Financial Questions to Ask Yourself

One of the greatest fears of retired people is whether or not they will outlive their money. This is often a worry for people who have medical conditions that require 24-hour care. Money goes quickly when you have an ailment, and while the doctor ensures that your vital signs are looking good, we want to ensure that you're financially healthy, too.

There are multiple questions that you can ask yourself in order to figure this out.

1. Do you have enough money? 
   
2. Is it being managed correctly?
3. How do you know the answer to both of these questions?

The only way to find out the answer to this third question is to speak with us and allow us to get a financial pulse with you. We can help you with financial planning, retirement planning, income planning, and protection planning. 

Please contact us if you're in need of financial relief. We are here to help you.

How Can You Manage the Taxes on Required Minimum Distributions from an IRA?

Hello everyone, today we are talking about how to manage required minimum distributions in IRA accounts. This is a great example of why you need a good team, and a tax professional that works well with your financial advisor. 

A lot of you may not know this, but there are ways you can defer taxes on a distribution that most people think you have to take all of right now. There are many ways to manage required minimum distributions from an IRA account. One way is to defer a portion of your taxations of those distributions until your 85th birthday.

Deferring a portion of your taxes on your required minimum distribution is not only an effective way of tax planning, but another reason why you want your team working with your tax specialist. You want your tax specialist and financial advisor communicating about your specific needs, income, and the benefits you may receive from deferring some of your required minimum distributions until your 85th birthday.

If you have any questions about this topic or anything else, feel free to give us a call or send us an email. We look forward to hearing from you!

What's the Difference Between Long-Term and Short-Term Capital Gains?

Here at Pyle Financial Services, we act as a fiduciary, not a salesman, to protect your interest above ours. Today, want to discuss how you can grow money in the stock market efficiently!

The growth of a portfolio is taxed as either short-term or a long-term capital gains rates. Short-term rates are for investments held for less than 12 months and are the same as your income tax rate. Long-term capital gains are for investments held for more than 12 months. 

While many advisers will hold their clients' investments for at least 12 months to ensure long-term capital gains, there are other strategies available to manage not only the short-term capital gains, but to eventually eliminate or significantly reduce long-term capital gains. It's not just about how much you make, it's about how much you keep! 

If you have any questions about how we can help you keep more of what you make, give us a call or visit us at www.PyleFinancialServices.com. We would love to give you a hand!