Carlos Dias Jr.

Personal Finance, Retirement, Lifestage Based Planning
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“Carlos’ brand of wealth management encompasses every aspect of his clients’ financial life. He offering strategic financial planning services to high-net-worth individuals, business owners, executives, retirees, and professional athletes.”
Firm:

Excel Tax & Wealth Group

Job Title:

Founder, Wealth Manager and Financial Planner

Biography:

Carlos Dias Jr. began his career in the financial industry in 2004. He is the Founder and Principal of Excel Tax & Wealth Group, an advisory firm offering strategic financial planning services to high-net-worth individuals, business owners, executives, and retirees. He also services MVP Wealth Management Group, which addresses the unique concerns of professional athletes and entertainers.

Carlos excels at tailoring his advice to individual clients’ needs. He maintains a highly personal approach by accounting for the distinct needs that his clients have at different points in their financial lives. He is passionate about finding the right solutions and investment plans to reflect different investment philosophies.

One of Carlos’s areas of expertise is tax liability. He confers with accountants from across the U.S. to keep pace with changing tax laws and strategies, which allows him to offer differentiated advice to his clients. He is particularly adept at suggesting strategies that will help his clients lower their taxes.

Currently, Carlos is a Contributor for Forbes, MarketWatch, Kiplinger, The Huffington Post, TheStreet and MainStreet, has been featured in Fortune, The Wall Street Journal, The Christian Science Monitor, MSN Money, CBS Local 6 News, and WealthManagement.com, and has been quoted in Bloomberg, U.S. News & World Report, USA Today, CNBC, Inc., The Seattle Times, Business Insider, The Motley Fool, and GoBankingRates.

Carlos is fluent in Portuguese and Spanish.

Education:

Associate of Arts, Business Administration, Daytona State College
Bachelor of Arts, Business Administration, University of Florida

Fee Structure:

Hourly
Fixed
Asset-Based
Fee-Based

CRD Number:

5315390

Insurance License:

#E181443

Disclaimer:

Nothing contained in this publication is intended to constitute legal, tax, securities, or investment advice, nor an opinion regarding the appropriateness of any investment, nor a solicitation of any type. The general information contained in this publication should not be acted upon without obtaining specific legal, tax, and investment advice from a licensed professional.

Videos
  • CBS Local 6 News "Many unprepared for the needs of aging parents" (December 10, 2013)
  • WealthGuard
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    Retirement Savings, Retirement Plans
What is the difference between qualified and non-qualified plans?
91% of people found this answer helpful

Qualified - before tax (or pre-tax) money, which includes, but not limited to, the following retirement plans:

  • 401(k)s;
  • 403(b)s;
  • Thrift Savings Plans (TSPs);
  • Simplified Employee Pensions (SEPs);
  • Traditional IRAs;
  • Savings Incentive Match Plans for Employees (SIMPLE) IRAs;
  • Salary Reduction Simplified Employee Pensions (SARSEPs); and
  • Profit sharing.

With a qualified plan, you receive an upfront tax deduction (or reduction) now but will have to pay taxes on the entire amount in the future (or when you begin withdrawing). Required Minimum Distributions (RMDs) will be due by age 70 ½ at the latest (you can begin withdrawing by age 59 ½ without incurring a 10% penalty).

Non-Qualified - after-tax money, which includes, but not limited to, the following:

  • Certificates of Deposits (CDs);
  • Annuities;
  • Mutual Funds;
  • Money Markets; and
  • Savings.

With a non-qualified plan, there are no deductions, but the principal is never taxed twice. Instead, the interest is taxed once withdrawn. Also, there are no RMDs on nonqualified plans. 

Note: Although 457 plans are called nonqualified, they are technically tax-advantaged deferred compensation plans, which are similar to a qualified plan, such as a 401(k) or IRA.

If you have any further questions, I'd be happy to help.

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How are life insurance proceeds taxed?
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If I withdraw money from my traditional IRA, how will that money be taxed?
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Should I retire at 66 years old and use my IRA for income before taking Social Security?
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