Why Year-End Matters for Your Retirement Plan Your federal tax return filed in April 2027 (or October 2027, if you utilize an extension) covers the preceding calendar year. That means every...
Retirement in South Carolina: A Financial Guide for Affluent Households
South Carolina ranks among the most popular retirement destinations in the country, and for good reason. Here is what affluent couples should know before making the move. The Palmetto State is...
Taxes in Arizona: Financial Considerations for Those Planning to Relocate
Arizona's tax structure has grown increasingly attractive relative to other states, particularly for those approaching retirement with meaningful accumulated wealth. But the advantages only...
Retirement HSA: Using a Health Savings Account to Strengthen Your Retirement Plan
Most people think of a health savings account as a way to cover this year's doctor visits. But an HSA can operate like a stealth retirement account, quietly building a tax-free reserve earmarked for...
House Sale Implications: Taxes, Cash Flow, and Retirement Planning
If you've owned a home for decades, selling it in retirement is one of the most consequential financial decisions you may make. The gain from the sale can trigger capital gains tax, reshape your...
The Fees You May (Or May Not) Be Paying For Financial Advice
One question comes up in nearly every initial conversation with a prospective client: why does Godsey & Gibb charge an ongoing advisory fee? Many people considering our firm have spent years...
Qualified Charitable Distribution From a 401(k): How It Really Works
If you hold a sizable 401(k) balance and give (or wish to give) regularly to charity, you may have heard that a qualified charitable distribution (QCD) can lower your tax bill while supporting the...
What Happens to a House in a Trust After Death?
Overview: What Happens to a House in a Trust When the Owner Dies? A revocable living trust becomes irrevocable upon the grantor's death. The successor trustee manages the trust after the grantor...
Wealth Management Q&As
Wealth Management is more than investment management. It considers the larger picture. While your investments are critical to your success throughout retirement, it is also important to understand how your taxes, finanical plan, estate, and insurance can affect both your overall situation. Do you know when you should begin collecting social security to maximize its benefit? Have you followed the necessary steps to help your assets pass efficiently to your heirs, avoiding probate? If 529 plans are applicable to you, have you considered 529 plan superfunding or how to maximize 529 plan tax advantages? Our wealth management Q&As consist of popular topics among our clients and are not limited to investment management.