Matthew J. Ure

RMA
Personal Finance, Retirement, Investing
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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:

Whether your question is about social security draw age, balancing risk and return in an investment, tax planning, or which strategy you should use to cover long term care needs, your chance for success improves dramatically with accurate information. Matthew believes his role is to guide clients through these trade offs using various tools, experience, and his training as a certified Retirement Management Analyst which centers every decision on improving retirement outcomes using math and science. 

Matthew has become an expert in optimizing the financial lives of public and private sector employees.   Several years ago, recognizing a huge need for benefits education and basic financial planning, he teamed up with The Society for Financial Awareness to offer workshops, seminars, and private consultations with a goal toward education. This collaboration has given thousands of public and private sector employees access to fiduciary advice while requiring no minimum investment amount. This educational approach that focuses on the best interest of the person has created millions in dollars of value for the attendees and their families.  

 He is a well know presenter in San Antonio and surrounding areas having taught hundreds of seminars touching on subjects ranging from debt solutions, investing, Social Security, pensions, insurance, and other financial topics. 

Being the 8th of 11 children- Matthew has real life experience in financial planning as he put himself through college, graduating from Brigham Young University with no debt and money in the bank.  He speaks fluent Thai and enjoys traveling whenever occasion permits. His personal life centers around 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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    Debt, Financial Planning, Pensions, Social Security, 401(k)
What should I do with RMD funds after paying taxes if there is currently no need for the funds and I want them to grow with limited risk?
100% of people found this answer helpful

You're doing a fantastic job of looking at the multi-faceted aspects of RMDs.  Your question is also a great one because not only does it show how complicated these can be but how imminent they loom not just for you, but for all retirees with money in tax deferred accounts. 

There are several approaches that would work but I'll start with that one which seems most applicable to you (this is for informational purposes only though). 

That strategy would look like this: Take your RMD and have the provider send 100% of it to the IRS.  Using this as a tax payment offset, then take a portion of the remaining funds equal to the tax payment just made (be aware of tax bracket thresholds) and convert some of the remaining funds to a Roth IRA.  Repeat this each year until all monies are Roth IRA.

The advantages of this plan: Roth IRAs are not subject to RMD rules.

You do not experience any difference in your income or taxes on that normal income as this is largely an insulated transaction- meaning your cash flow in retirement is unaffected.

You can leave this Roth as a tax free gift to your son and granddaughter that can continue to give them lifetime tax free growth as well!

As for which accounts, I would need to examine your situation and contractual obligations closely before increasing the specificity but if you look at the 10% free withdrawals as an optional cash account, that might provide more liquidity to maneuver this strategy, especially since you mentioned you don't think you'll keep them beyond the surrender period.

I hope this helps. 

July 2018
    Real Estate, Taxes
How will I be taxed on the money from the sale of my house?
100% of people found this answer helpful
August 2018
    Retirement, Investing, Asset Allocation, Choosing an Advisor
Should I use annuities as a temporary investment?
100% of people found this answer helpful
July 2018
    Debt, Investing
What should I do with the $10,000,000 I just acquired after selling my company?
100% of people found this answer helpful
January 2018
    Marriage / Divorce, Financial Planning, Pensions
What happens to my pension after I remarry?
100% of people found this answer helpful
July 2018