Matthew J. Ure

RMA
Personal Finance, Retirement, Investing
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55
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“The whole is greater than the sum of the parts- when all parts of a financial life are put together properly, incredible value is captured! ”
Firm:

Anthony Capital, LLC

Job Title:

Vice President

Biography:

Matthew is an avid learner and as such, sees his role as a guide who helps clients as they navigate saving for retirement and spending in retirement. His training as an Retirement Management Analyst informs every aspect of his planning and centers every decision on the client. He has taught hundreds of seminars touching on subjects ranging from debt solutions, investing, Social Security, pensions, insurance, and other financial topics, with the emphasis being on what trade offs are made when each is selected. 

Living in San Antonio, known as Military City USA, Matthew has become an expert in optimizing the financial lives of public as well as private sector employees.   Matthew recognized a huge need for benefits education and basic financial planning among government employees. To serve this need, he started Federal Benefits and Retirement (fedbenretire.org) and teamed up with the nonprofit The Society for Financial Awareness to offer trainings and private consultations at no cost to federal employees.  This collaboration has given thousands of federal employees access to fiduciary advice formerly reserved for the more affluent and has created millions in dollars of value for them and their families.  

With everyone in the industry clamoring to proclaim their fiduciary status, Matthew is quick to point out that that actually requires more than honesty and transparency. Though without those one cannot claim to be advising, without a broad understanding of finance one cannot claim to be a true advisor. 

Matthew is the 8th of 11 children, which he will tell you was an education in and of itself.  He has graduated from Dixie State University and Brigham Young University, and has also taken numerous post-graduate courses including a 4 month stint in Medical School. He speaks fluent Thai and enjoys traveling whenever occasion permits. He enjoys being a father to 3 boys and husband to a beautiful and creative wife. 

Education:

Brigham Young University

Assets Under Management:

$14 million

Fee Structure:

Fee Only

CRD Number:

6444268

Insurance License:

#1974612 TX

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September 2017
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    Debt, IRAs
Should I use an early IRA distribution to pay off my credit card balance?
68% of people found this answer helpful

Great question. Generally withdrawing early is frowned upon in financial circles- often because it is unwise for the client, sometimes because the manager is worried about assets under management. The underlying question is can I pay the taxman more right now so that I can pay the Bank less. 

Let's look deeper at the numbers to determine what is right* for you (*this is hypothetical given I don't have all your financial information and is done in rough numbers for education purposes only).

If you withdraw $10,000 you will only take home roughly $7,500 after 15% tax and 10% penalty assuming you make ~$45,000 a year or less. If you need the full $10,000 and have it available in your IRA, then we would need to take $13,350 to get the $10,000 you need to payoff the card balances. Total cost = $3,350 taxes. 

(Again, if you are making $97,000 or less that could be closer to $15,000 withdrawal with a $5,000 cost)

Versus.

Pay $500 a month over the next 2 years to pay off the cards.  Total cost = $1,709 interest

(However, if it takes you more than 3.8 years to pay off the loans then your total interest cost increases to $3,400!)

In summary, the rough numbers seem to suggest that you'd be better off cutting money out of some other part of your budget to set up an accelerated payment plan rather than take the withdrawal.

December 2017
    Annuities
What happens to my annuity after I die?
63% of people found this answer helpful
November 2016
    Debt, Personal Finance, 401(k), Stocks
Should I pay down my mortgage with assets from 401(k), stocks and savings?
63% of people found this answer helpful
November 2017
    Debt, Retirement, 401(k)
Should I use my 401(k) to pay off high interest credit card debt?
61% of people found this answer helpful
October 2017
    Financial Planning, Annuities
Do I have to be employed to roll over part of my lump sum distribution to a traditional IRA?
60% of people found this answer helpful
November 2016