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Tracy Ann Miller

CFP®, ChFC, CLU
Retirement, Investing, Insurance
81%
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30
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Articles
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“With over 30 years of experience in the finance industry, Tracy Ann Miller takes a holistic approach to planning which helps her understand all the dynamics of her clients’ financial situation.”
Firm:

Red River Advisors LLC

Job Title:

Founder and Chief Executive Officer

Biography:

As CEO of Red River Advisors, Tracy Ann Miller uses her considerable investment experience to guide investors to wealth and carefree retirement. After many years of banking, life insurance and investment management with Marine Midland Bank, InterSecurities, John Hancock and Merrill Lynch, Tracy Ann spent over a decade with Charles Schwab before co-founding Portfolio Wealth Advisors.  Tracy Ann's goal is to bring a fresh way to assist people in wealth growth and financial security and make the complexities of the investment market understandable. A few minutes with Tracy Ann and you know you are in capable hands. A few years with her, and you know you will live your life the way you have always dreamed.

Education:

BA, Political Science - Pre Law, University of Oklahoma

Assets Under Management:

$150 million

Fee Structure:

Fee only

CRD Number:

2398923

All Answers
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Most Helpful
    IRAs, Retirement Plans
I'm 24 and contributing to a simple IRA; what else should I be doing to prepare for retirement?
54% of people found this answer helpful

The simple answer is YES; there is more you can be doing for retirement.  Actually there is more you can be doing for life!  You are a graduate and working at a good job with a very nice salary. According to the Bureau of Labor Statistics for Americans age 25-34 in 2017, the mean salary is $758 per week, $39,416 per year.   

You are already taking care of participating in the company retirement plan.  Keep doing that.  Next, put the maximum amount you are eligible for into a Roth IRA and keep that account invested in a growth strategy.  The Roth IRA has the best tax advantage and you have 35 years to make growth investments a terrific option to give you a tax-free pool of funds to use in retirement.

Lastly, do not underestimate the power of an Individual Brokerage account for savings above the Simple IRA and the Roth IRA.  It is important to diversify the types of savings one has so that you are building up a pool of capital to use when an emergency or opportunity arises.  In other words, do not make the mistake of having all of your savings in restrictive retirement plans.  No one knows what tomorrow will bring.  With your age, education and pursuit of even higher education it is a good bet that you will find it meaningful to have access to capital.  Having capital gives you options and flexibility.  Make that capital work for you too. Banks are okay for general living needs, but any excess needs to be invested. An individual brokerage account allows you to invest in a well diversified stock and bond allocation plan for risk management and liquidity so that you have your money working for you until that moment you need to access it.  

Once invested you get the added advantage of seeing the annual growth of your capital and that gives you an excellent gage on whether a potential opportunity is worth the risk in the future.  For example, if you have created a capital pool and ten years from now you get an opportunity to invest in a business, real estate or some kind of situation where you are expecting a return on your capital -- you will be able to ask yourself "for the risk involved in this venture, is my expected return better than what my stock and bond portfolio has returned?"  It's a great way to be objective.

Remember to enjoy life in the meantime. The pursuit of capital by itself does not lead to as rewarding of a life as one might think. You should have a disciplined savings and investing plan, but it also pays to enjoy the fruit of your labor.

December 2017
    Mutual Funds
Can I use my mutual funds as a savings account?
52% of people found this answer helpful
October 2017
    Personal Finance, Choosing an Advisor
What is an average annual fee for a fee-only advisor managing a $450,000 portfolio?
46% of people found this answer helpful
June 2017
    Investing, Stocks, Starting Out
What online broker do you recommend for someone starting out?
43% of people found this answer helpful
May 2017
    Financial Planning, Real Estate
What should I make sure is included in our rent to own deed?
33% of people found this answer helpful
April 2017