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Matthew Garasic

CFP®
Personal Finance, Investing, Insurance
89%
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54
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1
Articles
8
Followers
“Matthew Garasic excels when it comes to helping individuals make decisions today in an attempt to positively influence an uncertain future.”
Firm:

Summit Financial Strategies

Job Title:

Staff Financial Advisor

Biography:

Matt Garasic is a Staff Financial Advisor at Summit Financial Strategies in Columbus, Ohio.

Matt found an interest in financial services while studying a high school economics course. He was specifically intrigued by the concept of time value of money. Matt believes the most rewarding experience in financial planning is seeing a financial plan come to fruition and the satisfaction it brings to clients. While young investors don’t always need a full-fledged financial plan, Matt is adamant about educating young professionals on the importance of saving and investing.

Matt is an avid fan of The Ohio State Buckeyes and Cleveland sports. In his free time, Matt enjoys reading, watching and participating in all forms of physical activity, and volunteering at the Franklin County Dog Shelter. He specifically enjoys football, baseball, basketball, boxing, and UFC.

Education:

BS, Consumer and Family Financial Services, The Ohio State University

Insurance License:

#1087361

All Articles
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May 2018
    Retirement Savings, Retirement Plans, 401(k), IRAs

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    Investing, Bonds / Fixed Income, IRAs, Taxes
If my traditional IRA is fully invested in a tax free bond fund, and I am receiving a distribution of the monthly dividends, do these distributions count toward the required minimum distribution, and do I have to pay taxes on them?
100% of people found this answer helpful

To start, tax-free bond funds should not be held in an IRA. An IRA is a tax-deferred investment vehicle, so, whenever you take a withdrawal from the account you will be taxed. Essentially, the tax-free benefits of the bond fund have been negated since it is inside an IRA. To answer the second part of your question, yes, any distributions from the account will count towards satisfying your RMD for the year. Be sure that you are keeping track of the amount you withdraw and satisfying the RMD requirement to avoid the IRS penalty. I would also suggest switching out of the tax-free fund in your IRA so you can earn more income from a corporate bond ETF/mutual fund. I hope this helps, best of luck!

April 2018
    Investing, Asset Allocation, Stocks
What are some strategies for turning a small amount of cash into a diverse stock portfolio?
80% of people found this answer helpful
March 2018
    Investing, Choosing an Advisor, IRAs
My advisor suggested a conservative growth model for money I am investing from an inherited IRA; if I am willing to risk losing the money to make more in the end, should I consider a more moderate or aggressive model?
78% of people found this answer helpful
March 2018
    IRAs, Taxes, Retirement Plans
If my wife and I already contribute to SIMPLE IRAs, can we also contribute to a traditional IRA to get a bigger tax deduction?
75% of people found this answer helpful
April 2018
    Debt, Personal Finance, Choosing an Advisor, Starting Out
What are some basic tips for budgeting, specifically strategies for paying off debt and building good credit?
71% of people found this answer helpful
March 2018