MCA Insights
Learn more about MCA and our investment thoughts and practices. Read our recent quarterly updates and consumer-geared articles on investing.
The team at Midwest Capital Advisors wants our clients to make smart financial decisions. Wise choices are easier when you are well-informed. The content here will hopefully enhance your general understanding of current issues related to financial and/or investment planning. The information may or may not pertain to or be appropriate for your particular financial situation. We are here to help you discern what is right for you, so please contact us with any questions.
Qualified Charitable Distributions Good Option for Those over 70 1/2
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.
What does the Tax Cuts and Job Acts (TCJA) mean for you?
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.
Maximum Allowable Contributions 2018
The latest IRS information concerning Maximum Allowable Contributions (MAC) limits for calendar year 2018.
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.
Big Wedding or Big Retirement?
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:
March Madness and the Dow
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?
Triple Tax Benefits of Health Savings Accounts
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.
NEW Client Portal
We are pleased to announce a new technological enhancement for our wealth management clients.
What does President Trump mean for investors?
How political parties affect the markets and the economy
Now that the 2016 presidential election is over and we can refer to Donald Trump as President Trump, it’s time to examine some additional questions.
The Fed
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.
Investing in Your Vacation
Why do so many of us not use our vacation days? Salespeople talk about “leaving money on the table.” Well, employees leave vacation on the table. And the cost to us is significant.
Fiduciary Rule
You have probably read about the U.S. Department of Labor’s (DOL) new fiduciary rule that will impact financial advisors and their clients. Simply stated, the DOL’s new “fiduciary duty” standard requires financial professionals ...
10 Reasons to be Cheerful
Do you ever listen to the news and find yourself thinking that the world has gone to the dogs? The roll call of depressing headlines seems endless. But look beyond what the media calls news, and there also are a lot of things going right.
Boosting Benefit Plans with Roth 401(k)s
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.
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