David N. Waldrop

CFP®, CLU
Personal Finance, Retirement, Investing
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“David N. Waldrop, Certified Financial Planner®, is committed to accuracy and availability, timely completion, and customizes the scope of planning for each client.”
Firm:

Bridgeview Capital Advisors, Inc.

Job Title:

President

Biography:

David N. Waldrop has earned the trust and respect of his clients during his career in the financial services industry. His wealth of knowledge allows him to provide the superb personal service and financial perspective upon which our customers have come to rely. He works closely with clients and has a proven ability to respond and plan for their needs.

As a Certified Financial Planner and President of Bridgeview Capital Advisors, Inc., David is responsible for advising clients in the areas of retirement plans and portfolio management. Specializing in financial planning and consulting, David brings together all aspects of his clients’ finances while incorporating their goals and objectives, both personal and financial.

After graduating from Cal Poly San Luis Obispo in 1998, David joined the lending division of a well known national bank where he specialized in consumer credit analysis and finance. In 2000, David steered his focus toward investments and insurance planning. In addition to providing auto, home, and life insurance, David worked directly with clients and public institutions to establish and promote retirement savings through various qualified plans.

After completing the professional and educational requirements of the Certified Financial Planner Board of Standards, David earned the marks of a Certified Financial Planner or CFP®. In this capacity, David focused on high net worth clients and prepared asset allocation analysis, cash flow planning, and insurance strategies. As a Financial Advisor with Bridgeview Capital Advisors, Inc., David provides his services to a broader clientele and customizes the scope of planning for each client.

In his time away from work, David enjoys spending time with his family, golfing and playing guitar. He is also a proud supporter of Shriners Hospitals for Children in Sacramento.

Education:

BA, Political Science, California Polytechnic State University-San Luis Obispo

Assets Under Management:

$35 million

CRD Number:

4214855

All Articles
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February 2017
    Estate Planning, Retirement Savings, IRAs
February 2017
    401(k), IRAs, Retirement Plans, Small Business
February 2017
    IRAs, Retirement Plans, Retirement Savings
March 2017
    401(k), IRAs, Retirement Savings, Income Tax
February 2017
    Mutual Funds, Investing

All Answers
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    IRAs
How can you borrow from a Roth IRA?
65% of people found this answer helpful

Contrary to popular belief, there is no “borrowing” from Roth IRAs or Traditional IRAs. There are only distributions. “Borrowing” from a Roth IRA or Traditional IRA is a misconception likely due to the ability to borrow from some 401(k) plans. This is accomplished via a 401(k) loan. I wrote an article about 401(k) loans called 401k Loan – 3 Reasons Not To Borrow that goes into more detail.

With regard to Roth IRA distributions, there are ways to access the funds, but it’s not borrowing. Borrowing implies that you can pay it back. You can’t pay back distributions taken from Roth IRAs or Traditional IRAs. There is an exception for distributions from an IRA that are paid back within 60 days. However, that is a totally different subject and it is also a commonly misunderstood rule.

Roth IRA withdrawals (distributions) of principal are tax and penalty free. The reason is that contributions are made with after tax dollars. The IRS has already taken their bite with regard to the principal (what you contributed). The earnings are a different story. While there can be exceptions, early withdrawals can be subject to taxes and penalties that are attributable to earnings (not principal). If you’re looking to take a withdrawal from the Roth IRA due to education, first time home purchase, or to help with a disability, you should definitely read up on the exceptions.

Early withdrawals are those made prior to age 59 ½. Withdrawals made after age 59 ½ and after having the account for at least five years will allow for withdrawals that are tax and penalty free. I wrote an article called Roth IRA – 5 Things Retirement Savers Must Know that covers other important considerations of investing in a Roth IRA. I hope you find it helpful.

Please note that this should not be considered investment advice and is only educational in nature. Be sure to consult your own investment, tax, or legal professional for help with your specific situation.

Best of luck!

David N. Waldrop, CFP®

February 2017
    Investing, Stocks
What is the direct correlation between the stock market highs and Trump's presidency?
52% of people found this answer helpful
March 2017
    Investing, Lifestage Based Planning
What is the best route to invest $50,000?
50% of people found this answer helpful
January 2017
    IRAs
What is the five-year waiting rule for Roth IRAs?
50% of people found this answer helpful
February 2017
    Choosing an Advisor
Should I have a discussion with my advisor regarding the new fiduciary rule?
50% of people found this answer helpful
February 2017