Roush Investment Group
After more than 25 years of working with the largest national banks and broker dealers, Rick formed his own Registered Investment Advisor (RIA) firm in 2010 to provide unbiased, unconflicted advice for business owners, their families, and their company retirement plans.
It has been deeply woven into the fabric of our firm’s culture to genuinely care and feel compassion for our clients, their entire families, and the legacy which they have built and wish to leave behind. It is with unwavering passion and proven expertise that Rick delivers our clients with a complete, all-encompassing Financial Life Planning process to truly understand their core values, life goals, and financial objectives.
As an expert in employer-sponsored retirement plans, Rick works alongside business owners to optimize the plan’s benefits while eliminating its burdens. Through a meaningful discovery process, he guides the business owner to define the goals and expectations associated with offering a 401(k) plan to their valued employees. By collaborating with only the most experienced and trusted industry experts, he is able to provide our clients with a team of skilled advisors who work cohesively to deliver great value and support to the client.
Roush Investment Group honors a fiduciary standard to do only what is the absolute best for the client at all times. Rick earned the Accredited Investment Fiduciary (AIF®) and Certified Plan Fiduciary Advisor (CPFA) designations which signify specialized knowledge of the fiduciary duty and a commitment to foster and promote a culture of fiduciary responsibility and professionalism.
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Basis Points on Assets Under Management
Advisory Services offered through The Roush Group (TRG), a State of California registered investment adviser. For information pertaining to the registration status of TRG, please contact TRG or refer to the Investment Adviser Public Disclosure web site (www.adviserinfo.sec.gov).
No Individual should assume that any information presented or made available on or through this website should be construed as personalized financial planning or investment advice. Personalized financial planning and investment advice can only be rendered after engagement of the firm for services, execution of the required documentation, and receipt of required disclosures. Please contact the firm for further information.
Be sure to consult with a TRG adviser and/or a tax professional before implementing any strategy discussed herein.
5 Questions to Ask Your 401K Advisor Today
The simple answer is no. The only impact on time held has to do with the taxes paid. If you have a gain and the stock is sold within 1 year of purchase you will pay short-term gains which are taxed at current income rate. If that same stock is held over 1 year that tax rate will be reduced to your long-term tax rate.
Congratulations on retirement first of all. When looking at your 401(k) there is no set time frame that you have in order to rollover your assets into an IRA as long as the balance exceeds $5000. One thing that you do need to pay attention to, however, is the required distributions. Not that you have retired and you have aged beyond 70 1/2 you will need to ensure that each year you are removing at least a minimum of your plan based on your age and the balance in the account the end of the previous year. Unless you were an owner or a key person you may have been able to get around this for the last several years but the IRS will be looking for those distributions now.
Your question appears that you are trying to keep the payments down in order to pay extra and pay the house off in 10 years. A HELOC (home equity line of credit) is still a version of debt against the house. The typical HELOC allows for 10 years worth of access to the line that can be used, paid off, then reused again. In this first ten years, you are generally only needing to make interest payments which will not reduce the principle amount owed. At the end of the 10 year, it then turns into a term loan requiring payments of both principle and interest. The interest that you pay on a HELOC is variable in large part because of the usability over the ten-year time frame. Based on the current interest rate trend it will increase over the next several years which will also directly impact your payment.
Even though these can be useful instruments for people to use in their financial lives, I am not sure it makes sense towards your objective of paying it off in 10 years. If you have a preset budget that you are comfortable paying on a monthly basis, I would recommend you possibly lengthen the time you pay by a short time or by reducing the costs that go into the building the home. Good luck in your decisions and enjoy your new home.
based on the time frame you have listed you will not yet qualify to set aside the gains on your primary residence because you have not owned it and used it for the last two years. However, because the ownership has been longer than one year you should be looking at long-term gains. In figuring out what the amount is you need to look at differences between the selling amount, $350,000 and purchase amount, $315,000, plus all expenses. Expenses can include commissions and upgrades to the house.
The answer has more to do with your other income. If you take the distribution this year it will be added to this year's income and your tax bracket will be based on that new combined income. However, if you wait you will be taking not only this years payment but the value also for next year. You will also see next years required distribution amount be larger by waiting because you did not remove the assets from this year. (RMDs are based on the account values Dec 31 of the previous year and your age in the year of withdrawing) All this being said if your income is scheduled to decrease next year waiting may make sense otherwise there are no tax benefits to waiting.