John Madison

Personal Finance, Investing, Taxes
“John is a CPA and financial coach committed to educating and empowering individuals and couples to make smart decisions regarding their personal finances. Schedule a no-cost, no-obligation consultation to learn more!”

60 Minute Finance

Job Title:

CPA and Financial Counselor


Born and raised in Virginia, John passed the CPA exam before graduating from Virginia Commonwealth University and beginning his career at a “Big-8” accounting firm in 1987.   

After two years in public accounting, he accepted employment with a client and rose through the ranks in private industry.  Desiring to work in a more diversified environment, John started his own accounting practice in 2000 and added personal financial coaching services in 2013.

John resides in Hanover County, Virginia with his wife and children.  He is active in his church, enjoys finishing a good run or workout at the gym, and leads personal finance classes in the community.

In addition to 60 Minute Finance, John is also the owner and president of Riverpine Services, Inc.  Riverpine Services, Inc., provides freelance accounting services to a select number of small businesses throughout the region. In 2016, John moved to a part-time roll with Riverpine to focus his attention and energy on his personal financial education efforts.


BS, Accounting, Virginia Commonwealth University

Fee Structure:



The recommendations provided are educational in nature and not intended to be specific recommendations for any particular individual.  The goal is to educate and inform readers of available options, with the ultimate decision being theirs.  Please consult the appropriate tax, investment, insurance or financial planning expert before making any final decisions.

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May 2018
    Personal Finance, Financial Planning, Debt
March 2018
    Debt, Personal Finance
February 2018
    Real Estate, Financial Planning
January 2018
    Financial Planning, Personal Finance
March 2018
    Investing, Retirement, IRAs, Retirement Savings

All Answers
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    Debt, Financial Planning, Pensions, Social Security, 401(k)
What should I do with RMD funds after paying taxes if there is currently no need for the funds and I want them to grow with limited risk?

Congratulations on being in such good financial shape!

Since you mention an RMD, I assume the annuities are inside of an IRA.  I'm not sure why your advisor recommended an annuity in your situation since you already had tax deferral via the IRA structure.  Further, I assume you mean that you can take up to 10% out of the annuities without a surrender charge.

I'm not sure what your estimated taxable income is currently, but if you're in a reasonably low tax bracket, I'd recommend that you begin to move money out of your pre-tax accounts.  This can be done by transferring an amount to a taxable brokerage account (your RMD can be handled this way).  If you have additional room in a lower tax bracket, you may want to convert some of the pre-tax (I assume) 401k to a Roth 401k/IRA.  This will move the investments to a tax-FREE account that your son and/or grandchild can also benefit from after your passing.

Since you are investing with your son and granddaughter in mind, you may want to consider a heavier equity allocation than you would like for yourself.  Your life expectancy is probably shorter than your son, and significantly shorter than your granddaughter!  Invest with their time frame in mind, not your time frame, if you don't need the money for your expenses.

Best of luck and thanks for your question.


13 hours ago
    Banking, Investing, Real Estate
What is the safest way to earn a higher interest rate on our money than by using our traditional savings account or a money market account?
14 hours ago
    College Tuition, Debt, 401(k)
Should I max out my 401(k) contributions or make principal payments on student loan debt?
100% of people found this answer helpful
14 hours ago
    Debt, Real Estate
Should I use the profits from my home sale to purchase a new home outright, or use a mortgage to leverage my debt for the long-term?
100% of people found this answer helpful
14 hours ago
    Debt, Retirement, Estate Planning
Should I pay off all my debt at once with the inheritance money I am receiving?
89% of people found this answer helpful
3 weeks ago