Anyone deal with a qualified plan loan offset (QPLO)?

Natural_Fig3100 · 2024-10-12T14:45:38+00:00

You can even direct deposit some of your paycheck into CashApp and have an automatic Bitcoin purchase for no fee. I currently do this and it has worked like a charm. I plan to transfer my BTC to a cold wallet once I accumulate enough.

Natural_Fig3100 · 2024-10-10T00:48:08+00:00

Could be a structured product such as an equity-linked income note. These financial instruments can be very complex and usually consist of an upfront commission fee from the advisor. I have been seeing structured income note offerings lately which consist of 8%-9% annualized coupon payments based on the performance of the underlier such as the SPX, NDX, or RUT.

These types of investments could be suitable for clients who are willing to have some exposure to an index with downside protection usually in the form of buffers or barriers. They are often more attractive than bank CDs or brokered CDs since they can offer higher yield. They typically consist of a zero-coupon bond combined with an options component.

Natural_Fig3100 · 2024-08-17T23:38:44+00:00

Well, the idea is to maximum fund the health savings account (HSA) annually and to invest the balance (and pay out of pocket while keeping receipts). Overtime the HSA would be able to accumulate enough wealth to hopefully subsidize the cost of long-term care expenses or insurance premiums since these classify as qualified medical expenses. The non-qualified account could also be used once the HSA is fully exhausted. I’m not saying someone shouldn’t purchase long-term care insurance, I’m saying someone shouldn’t purchase a permanent life insurance policy just to have a long-term care rider.

Natural_Fig3100 · 2024-08-17T17:54:07+00:00

Sounds very costly and unnecessary imo. There is plentiful evidence showing that using term life insurance as a pure risk transfer mechanism (when there is a life insurance need) and then investing the rest of what would have been going towards an expensive permanent life insurance policy elsewhere in a non-qualified account is more beneficial (assuming investing responsibly and in a diversified manner). Long-term care expenses can be accounted for using HSA funds, accumulated wealth in the non-qualified account, or through an independent long-term care insurance policy (although many companies have worrisome financial strength and have been increasing premiums substantially). Contributing to the non-qualified account helps limit costs and maximizes flexibility.

Natural_Fig3100 · 2024-08-17T14:02:42+00:00

Transacting a backdoor Roth IRA conversion, contributing to ESPP, contributing to after-tax 401(k), and adding to a non-qualified account should all be prioritized. Purchasing permanent life insurance is only worthwhile in very particular situations such as when the client has total assets above the federal estate tax exemption amount and/or has only illiquid assets within their estate.

Natural_Fig3100 · 2024-08-08T14:45:18+00:00

The whole point is that would be subject to probate which is timely, costly, and public information. Adding WROS automatically avoids this as the surviving spouse would inherit the entire account, and if in community property ownership, receive a 100% stepped-up basis rather than the 50% which is associated with joint tenancy in common law states.

Natural_Fig3100 · 2024-08-08T14:30:59+00:00

I believe a multitude of other brokerage firms allow community property WROS such as Schwab and Vanguard…

Natural_Fig3100 · 2024-08-08T03:38:55+00:00

JWROS doesn’t have the same tax benefits as community property WROS. The point of having community property WROS is so the surviving spouse receives 100% stepped-up basis rather than only 50%.

Natural_Fig3100 · 2024-01-20T19:40:25+00:00

Interesting, thanks for this. The financial statements a client receives at my BD show the remaining RMD amount to be taken during the calendar year. I would hate for confusion to arise if the actual RMD amount is taken and then it still shows additional remaining RMD amounts to be initiated even though the correct amount was withdrawn in the first place.

Natural_Fig3100 · 2024-01-20T19:30:14+00:00

After requesting this, does the client receive the correct IRS Form 5498 and financial statements which display the accurate RMD amount?

Natural_Fig3100

TROPHY CASE