Silber Bennett Financial
Rebecca Dawson is an experienced, independent financial advisor offering personalized wealth and investment management guidance to a select group of individuals, families, and businesses in Southern California and around the country. Her mission is to be a trusted advisor to her clients by partnering with them to identify what is most important in their financial lives while providing tailored solutions to help achieve their goals.
For over 20 years, Rebecca has served as a financial advisor. She has developed highly refined methods for evaluating client's needs and formulating successful investment strategies. She and her staff provide an exceptional level of service to her clients, who are typically worth well in excess of $1 million and include some of the most prominent people in the United States.
Before joining Silber Bennett, Rebecca managed her own independent brokerage office since 1999. Prior to that she held similar positions with PaineWebber, Merrill Lynch, and Alex.Brown & Sons.
Her clientele have included corporate presidents, and officers, charitable foundations, pension funds, business owners, and wealthy retirees. Her affiliation with Silber Bennett Financial provides her clients with full service wealth strategies.
BA, Liberal Arts, University of Texas at Austin
SECURITIES AND ADVISORY SERVICES OFFERED THROUGH SILBER BENNETT FINANCIAL, INC.
DOI: CA 0H72697 | MEMBER: FINRA / SIPC
Why Choose Rebecca Dawson
Rebecca Dawson on To The Point
A savings account is taxed by the IRS on form 1099-INT. Your financial institution that holds your savings account mails these forms to their customers in late January for the previous year's interest. You are only taxed on any interest earned in the account over a minimum of $10, although the IRS requires you to report all taxable interest in your income.
Keep in mind that some banks offer cash incentives to open a new savings account, those bonuses are also taxable and need to be reported once a year as well.
This only applies to traditional savings account or an online savings account which would generate taxable interest income. Not to be confused with an IRA savings account which are tax deferred and you pay taxes when the funds are withdrawn. IRAs have contribution limits, but with a traditional savings account, there are no limitations on contributions.
If your taxes are not paid on the interest earned in your savings account, the IRS will enforce penalties and fees.
Yes, you can contribute to a spousal IRA for her. Stay-at-home parents, retirees with a spouse who is still working, and others who were unemployed for the year but had a spouse who earned an income can benefit from tax-advantaged retirement savings.
The working spouse may contribute up to $5,500 to his or her own IRA and up to $5,500 for the nonworking spouse as long as the working spouse’s annual income was at least as much as the combined contributions. You can add an extra $1,000 for each spouse who is age 50 or older with the catch-up contributions.
Also, in order to take advantage of this situation you not only have to be married, but your tax filing status must be “married filing jointly.” You cannot make a spousal contribution to an IRA if you are filing separately.
An Individual Retirement Account (IRA) is a tax deferred account available for anyone of any age as long as you have earned income. Once you open your account, you may invest the funds in your IRA in, but not limited to stocks, bonds, mutual funds, and/or even CDs. An IRA is an account set up at a financial institution that allows an individual to save for retirement with tax-free growth or on a tax-deferred basis. A traditional IRA is tax deferred which you make contributions with money you may be able to deduct on your tax return, and any earnings can potentially grow tax-deferred until you withdraw them in retirement.
A Certificate of Deposit (CD) is a type of fixed interest rate deposit over a specified period of time. When that term ends, you can withdraw your money or roll it into another CD. Withdrawing before maturity can result in a penalty. It is low risk and low return. CDs are among the safest investment a person can make. The interest rate is determined ahead of time, and you’re guaranteed to get back what you put in, plus interest once the CD matures. What’s more, if the bank fails or goes under, your deposit is most probably insured by the FDIC for up to $250,000.
The difference being that an IRA is a type of account in which you may leave in cash or invest in differing securities or CDs. Whereas a CD is a time deposit at a financial institution which may be bought in either a qualified (IRA) account or a non qualified (cash) account.
First off, you can only contribute cash to a Roth IRA, and secondarily you can only contribute to a Roth IRA if you have earned income depending on if you are still working. The maximum amount of Roth IRA contributions is $6500, unless you are under 50 years of age which would be $5500. Although you may do a Roth IRA conversion of securities only if those assets are in an existing traditional IRA.
Not sure what reference you are making to a TOD election because your IRA will pass to your designated beneficiaries listed on your IRA account without probate.
A Transfer on Death (TOD) account enables an account owner to name beneficiaries on their personal (non-retirement plan) investment accounts. A TOD account avoids probate, as well, at the owner's death.
Whether you want to take profits on your equities or lighten up your exposure to equities, in a rising interest rate environment you may want to consider shorter duration bonds. This reduces your sensitivity to movements and U.S. interest rates. You can take on more credit risk so you add some yield cushion to your portfolio. If you are investing in high yield bonds, you are already shortening duration versus investment grade corporate bonds, and you are increasing the yield cushion. You can also look for less correlated asset classes that also provide yield. This may include equity income type strategies or emerging market debt type strategies.
There are a number of different ETF solutions for investors to target rising interest rates. One might be on the credit side on the high yield space or a high yield bond ETF. On the opposite side of the spectrum is an interesting credit opportunity with short duration is an investment grade floating rate note.
If you think interest rates are headed up, you can protect yourself by investing in debt securities whose interest payments adjust regularly. Floating-rate funds invest in bank loans made to low-quality companies. The rates on these loans usually reset every 30 to 90 days at a few percentage points above a benchmark of short-term rates. Until the financial crisis struck, bank-loan funds had done a superior job of delivering above-average yields with minimal movements in their share prices. In 2008, the average bank-loan fund surrendered 30%, although the sector has rebounded strongly, gaining 42% on average in 2009 and 9% last year.