SeaCure Advisors LLC
Founder, Managing member, and Chief Compliance Officer
Carolyn graduated with a BS in Chemistry from the University of Kentucky in 1968, and with a MEd in Science Education from Boston University in 1971. She applied her education by teaching in public and private secondary schools for 17 years. In 1993, recognizing the need to resolve her own financial issues, Carolyn began studying all aspects of wealth management. Feeling that she had found her calling, she took her passion for teaching to the financial services industry.
Carolyn began her career in financial services with Equitable/AXA Financial. Initially, she utilized her education background to specialize as a retirement planning consultant for teachers and non-profit organizations. Prior to founding Pegaesus Advisors, Inc., and SeaCure Advisors, LLC, Carolyn co-founded another registered investment advisory firm that she sold in 2001.
In 2001, numerous circumstances made it difficult for Carolyn's clients to make financial decisions. It was then that she began collaborating with a highly recognized wealth counselor. For her work, Carolyn was featured in the Boston Globe and was quoted in the Wall Street Journal. She has also become a sought after speaker for financial planning workshops and seminars.
Carolyn has volunteered in various community service organizations over the years. She has taught retirement planning at Technical Development Corporation, a management institute serving non-profits in Boston and New England. She has been a continuing education instructor for CPAs, attorneys, and CFPs in Massachusetts. Carolyn has had memberships in the Institute of Estate Planners, American Association of Individual Investors, National Association of Investment Clubs, International Association of Registered Financial Consultants, Inc., and the MIT Women's League Financial Group.
Carolyn is currently a member in the Institute of Certified Financial Planners, the Financial Planning Association, University of KY's foundation - Women and Philanthropy, and the National Association of Professional Women. Carolyn continues to provide Pro-Bono financial planning services for individuals and families at Dana Farber Cancer Center in Boston, MA. She believes she has a true calling for this work since her late husband, Jack Howard, died in 2008 from brain cancer. One of Carolyn's hobbies is sewing where she works with the Dorcas Society in Sarasota, FL, making clothes for young underpriviledged girls. Carolyn also volunteers for the Bluegrass Trust for Historic Preservation committee for their annual antique and garden show.
Carolyn enjoys music, art, historic preservation and restoration, gardening, and swimming. She resides with her husband, Albert Kelley. She is the mother of two adult children, Courtenay and Jonathan. She is also "Mimi" to two beautiful granddaughters.
BS, Chemistry, University of Kentucky
MEd, Science Education, Boston University
Assets Under Management:
Complete Transparency - Carolyn Howard
Not Covered By Health Insurance - Carolyn Howard
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If the house you are selling has been your primary residence two out of the last five years, you will have $250,000 capital gains tax free if you are single and $500,000 capital gains tax free if you are married.
In determining how to calculate your capital gain exposure, you will take what you paid for the house, add the cost of any improvements to determine your cost basis. So for example, if you paid $200,000 for your home and you improved it with new windows, new bathroom(s), kitchen or any other qualified improvements that cost $100,000 over the time you have resided in your home, your cost base would be $300,000. Let's say you sold your home for $450,000. That price would be $150,000 of capital gains. That number is less than the allowed amount of $250,000 as a single person or $500,000 as a married person, so you would owe no taxes. If it sold for $600,000, the capital gains would be $300,000. You would have $300,000 minus $250,000 (as a single person) = $50,000 for your capital gains exposure. If you were married, again the $300,000 gain is less than the $500,000 so there would be no capital gains exposure. If you have resided in the home less than two out of the five years, any gain over the cost basis is exposed to capital gains. You may consider consulting your accountant to determine the exact gain exposure if any.
Since you are retired, you may consider meeting with a professional Certified Financial Planner for a consultation. There are many factors in determining how best to invest your money to last you for your lifetime.
The factors you should consider are your time horizon, risk profile, and the goals you are trying to achieve. After the consultation, you can then determine whether you want professional help or do it yourself. One of the best aspects of professional help is that it helps you stay on target to help you achieve your goals without emotion. A 50% stock and 50% bond portfolio may or may not be appropriate for your specific needs and goals. A professional will help guide you to know the best asset allocation to achieve your goals. You can go to www.plannersearch.org to locate a professional in your area. Best wishes.
You are asking very good questions. You may consider taking money from the inherited investment account for easiest access to the money for the PA inheritance tax. When your fiance died, her investment account got a stepped up date of death value so it is unlikely you would have a significant capital gains tax to pay, if any. When the house is sold, you may choose to add that money back into the investment account. The house value should also receive a date of death value when sold. The IRA money would not receive a date of death value for tax purposes. You may consider contacting a Financial Professional to assist you in understanding your new investment and IRA accounts since you are unfamiliar in managing them. You can search at oneFPA.org for a professional in your area.
The short answer to your question is yes. As long as the former employer allows you to begin taking this pension, it is independent from your current employer’s retirement plan and your contributions to it. By taking the pension, it will give you additional cash flow that will allow you to maximize your contributions to your present retirement plan.
Best wishes on your planned early retirement.
What a great time to begin your investments. The earlier you begin, the power of compounding can make you a very wealthy person potentially. It is impressive you are reading and beginning to understand the market. The first thing to consider is how much you want to start saving. Also, do you want to save in a brokerage type of account - this is a non-retirement account- or a retirement account. If you are employed, you can save $5,500/year in a Roth IRA that grows tax deferred and the growth can be withdrawn tax free at your 59.5 years . If you want to save more than that amount, you can defer in your employer's 401k if they offer one or you can save in a non-retirement account. Vanguard Funds are easy to track if your choose mutual funds. They have great index funds that are inexpensive. Mutual funds typically have internal costs. Index funds have very low internal costs. At your age, you could consider Vanguard's Total Stock Market Index fund.- VTSMX is the fund symbol. You can open accounts online with Vanguard or you can contact them directly to discuss any questions you might have at 877-662-7447. Best wishes with your investing goals.