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.
Professional & Securities Licenses:
FINRA Series 53 Municipal Securities Principal
FINRA Series 79 Investment Banking
FINRA Series 7 General Securities
FINRA Series 22 Direct Participation Programs
FINRA Series 63 Uniform Securities Agent State Law
BA, Liberal Arts, Magna cum Laude, 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
The rule of thumb is three to six months of living expenses so that would include you and your wife for now, and if and when you have a family then that amount may be recalculated to reflect your larger family.
You could keep those cash reserves in your bank or brokerage account. Some financial institutions will pay minimal interest but with interest rates as low as they have been that is your best option in order to be 100% liquid.
There is no cookie cutter method for asset allocation; each individual has their own risk tolerance, income needs, etc. It is best to visit with a Financial Advisor and have a recommended allocation for you specifically after going over all of your personal financial information.
Keep in mind that portfolio construction can make a significant difference in performance, particularly during the retirement drawdown phase. By having your assets allocated to stocks, bonds, cash as well as alternative investments may increases performance over time. With a smaller allocation to alternative investments that are non-correlated to the stock or bond market especially in volatile times.
What terms did you agree to when you initiated your relationship with your financial advisor. The typical management fee is paid quarterly and it is usually deducted directly from your account from accumulated cash from dividends, interest or cash allocations in your account.
A one percent fee sounds fair although there are times when not paying a fee and instead paying commissions on each trade works to the client's advantage depending on how active your account activity is and also on the type of investments you own. There has been concern amoung regulators for financial advisors charging an ongoing fee for an asset that they truly are not able to manage due to the nature of the investment. It is known as reverse churning which is the placement of clients in a fee based account when there account activity demonstrates that they would be better served by being in a commission transaction fee based account.
It is not fair to place a customer in an account with a fee structure that reasonably can be expected to result in a greater cost than an alternate account. If you have ever been in a fee based account during an extended bear market then the only one making money is your financial advisor when you are actually experiencing diminishing returns.
If you are taking distributions from your traditional IRA then yes, you would have to pay taxes on them regardless of whether you are over the age of 59.5 when you are able to take funds out of your IRA without any early withdrawal penalties or over the age of 70.5 and are required to take your required minimum distributions.
On another note, having a tax free bond fund invested within your traditional IRA is not advantageous since tax free bonds interest is tax free. This means that you do not pay taxes on the interest, therefore more appropriate for a nonretirement account. Whereas with RMDs you are paying taxes on the funds taken out since contributions would have given you a deduction and are pretax dollars.
Your Roth IRA grows tax free as long as you have assets in your account. You may leave it, as is, to grow for life. You can leave amounts in your Roth IRA as long as you live. Additionally, one of the benefits of a Roth IRA is there is no required minimum distributions. So you will not be required to start taking withdrawals at the age of 70.5 like a traditional IRA would. You may, if you wish, make contributions to your Roth IRA after you reach 70.5 under certain guidelines. So the state of California, or any state, would not be entitled to your funds.
Also, your heirs will receive your Roth IRA tax free. Keep in mind, that that under both federal and state laws, IRAs are often protected from creditors. However, these protections are not available when the creditor is the Internal Revenue Service. The IRS can levy against your IRA to satisfy outstanding federal tax obligations.