Topel & DiStasi Wealth Management
Jarrett Topel is a financial advisor located in Berkeley, CA with over 20 years of experience in financial services. He brings a vast wealth of knowledge and expertise in delivering personalized financial planning and investment strategies to clients.
In his work as a financial advisor, Jarrett strives to help clients more fully enjoy the lives they have worked hard to build, by providing a partner in their journey towards financial independence.
Prior to co-founding Topel & DiStasi Wealth Management, Jarrett worked in various capacities in the financial services industry, giving him a broad perspective of the complex issues clients face today. He began his professional career at Smith Barney in 1994, then moved on to tax consulting and tax preparation work for a small boutique firm, ConsulTax, in Oakland, CA. Jarrett joined American Express Financial Advisors in 1999, and started his own firm as a franchisee of American Express Financial Advisors in 2003. Later that year, Jarrett earned his CERTIFIED FINANCIAL PLANNER™ designation (CFP®) and, since then, has continued to expand his knowledge base and skills set through continuing education and the attainment of advanced degrees and professional designations.
Jarrett holds a Bachelor of Science degree in Business Administration/Finance from San Francisco State University, a Certificate in Personal Financial Planning from the University of California, Berkeley, and a Masters of Science in Financial Planning from Golden Gate University.
A lifelong Bay Area resident, Jarrett currently lives in Oakland, CA with his wife and two children.
BS, Business Administration, San Francisco State University
MS, Financial Planning, Golden Gate University
Assets Under Management:
For advisory services and disclosure information, please visit our website www.td-wm.com
Just because you are nearing retirement doesn’t necessarily mean you should be more conservative with your investment portfolio. This decision should be based on what you are spending, what income sources you will have in retirement (i.e. social security, pensions, rental income, etc.), and how long you think you will realistically live. The key here is to do more in-depth planning (hopefully with a qualified advisor) to find out how much you will need to pull from your investments each year, accounting for inflation, to meet your retiment goals. If you only need 1%-3% from your portfolio, then yes, your portfolio can be invested conservatively. If you need 4%, 5%, or more, then a conservative portfolio is likely a guaranteed failure (i.e. you will run out of money before you run out of life). So, instead of thinking about risk tolerance based on your age or your proximity to retirement, think of it based on your needs and the chances of reaching your goals. After all, what is really more risky---guaranteed failure, or possible failure with a good chance of success?
If you will be in a higher tax-bracket in the future, when you withdraw funds from your IRA, then converting from a Traditional to a Roth IRA now makes financial sense. If you will be in a lower tax-bracket in the future, when you withdraw funds from your IRA, the converting to a Roth does not make financial sense. If you have no idea if you will be in a higher or lower tax-bracket, then diversify your future options, and convert some funds into a Roth IRA now and keep some funds in the Traditional IRA.
Before investing, you should make sure you have adequate cash reserves (in the bank). Without cash reserves, you are not really an investor, you are a gambler. And, while investing always entails risk, the only way to put the long-term statistics of investing on your side (which is the difference between an investor and a gambler), is to make sure you can actually be a long-term investor. That is why cash reserves are so important to any good long-term investment plan. In general, you want at least three months’ worth of living expenses (not including taxes or savings) set aside as cash reserves, and six months would be ideal.
Yes, you should absolutely receive a 1099-R. If the distribution was in 2017, you should have received, or receive very soon. If this was done in 2018, you will not receive until early 2019.
Ally Bank's FDIC insured savings account is now paying 1.25%. https://www.ally.com/bank/online-savings-account
Barclays FDIC insured savings accounts is now paying 1.30%. https://www.banking.barclaysus.com/online-savings.html