We are pleased to announce a new technological enhancement for our wealth management clients that includes an online client portal that will give you a single point of access to your investments managed by Midwest Capital Advisors. For a brief preview of the new client portal, please click here.
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Qualified Charitable Distributions (QCDs) allow an IRA owner over the age of 70.5 to donate up to $100,000 annually to a charity tax-free. A QCD is removed from your total IRA distribution thereby moving your charitable contribution “above-the-line” from what would otherwise be a “below-the-line” deduction.
By Jack Nicklaus Tunge, CFP®, CRPC®
On December 15th, a House and Senate Conference Committee released a unified version of the Tax Cuts and Jobs Act. The bill passed the House by a vote of 227 to 203 and the Senate by a vote of 51-48 on December 19th. President Trump could sign the bill into law very soon but will most likely wait until January (find out why here). The following provides a brief overview of the changes that will affect individuals and, more likely than not, become law.
Preparing for Retirement. Ever Wondered What a CERTIFIED FINANCIAL PLANNER™ Does and How They Can Add Value?
Midwest Capital Advisors’ own investment adviser representative, Jack Tunge CFP®, CRPC®, shares an example of how he adds value to his client relationships.
Destination Wedding or Fully Funded Retirement?
Something to think about
Every year I am invited to 3 or 4 weddings and I love attending every one. But I’ve noticed a few trends lately and I thought I would put together some things for today’s couples to think about as they are about to tie the knot. Here is what I found:
Newspapers, radio, and TV news programs refer to the Dow Jones Industrial Average every day, calling it the Dow, sometimes the Dow Jones or even the DJIA. And economists and financial advisors pay close attention to its daily changes and the longer trends. But what exactly is the Dow Jones Industrial Average, does it really matter and can one see performance patterns from year to year?
When planning for retirement, most Americans think mainly about using tax-advantaged savings vehicles like 401(k) or individual retirement accounts, while failing to consider the triple tax advantages associated with saving for future health care costs using a health savings account, or HSA.
Even casual observers of financial news know that “Fed watching” is a serious activity in the financial and business communities. Currently, Janet Yellen is Chair of the Board of Governors of the Federal Reserve System, commonly known as the “Fed.” An understanding of the establishment of the Fed, its basic operation and powers, and its relationship with the Federal government and the banking community is especially important at a time when the direction of the economy is under constant scrutiny.
As you may already know, offering a retirement savings plan can help your business attract and retain employees, while making it easier for you to save for your own retirement. To support these objectives, business owners may want to consider adding a Roth option to their 401(k) plans. As the name suggests, the Roth 401(k) incorporates elements of both traditional 401(k) plans and Roth IRAs.