Transitioning from a lifetime of relentless accumulation to active decumulation is one of the most counterintuitive milestones in personal finance. For decades, investors have been conditioned to measure success by a rising account balance. Reversing this cash-flow direction requires more than just updated math—it demands a fundamental rewiring of your psychological relationship with money. Why … Continued
Many retirees are surprised to learn that Medicare premiums are not the same for everyone. Higher-income beneficiaries pay an additional surcharge known as the Income-Related Monthly Adjustment Amount (IRMAA). Since IRMAA can meaningfully increase healthcare costs in retirement, understanding how it works can potentially help retirees make more informed planning decisions. What Is IRMAA? IRMAA … Continued
Charitable planning is often an important element of many estate plans, and retirement accounts can be a valuable tool for those looking to leave a charitable legacy. Naming a charity as the beneficiary of an IRA—or another retirement account, such as a 401(k)—is often viewed as a straightforward and tax-efficient strategy. However, administrative friction at … Continued
Trump Accounts are a brand-new type of tax-advantaged investment account for children created by July 2025’s One Big Beautiful Bill Act (OBBBA). When OBBBA first became law, there was minimal information available regarding these accounts, but that has since changed with the launch of the official website: trumpaccounts.gov. We now know the IRS intends to roll out these new accounts starting in July 2026. Essentially, a Trump Account is a children’s investment … Continued
Though the year-end fast approaches, it is never too late to review strategic planning opportunities and preview what lies ahead in 2026. With the signing of the One Big Beautiful Bill Act (OBBBA) into law on July 4, 2025, there are some significant changes ahead that augment the tax and estate planning landscape. We encourage … Continued
If you’ve been saving for retirement in a traditional IRA, you may have heard about the option to convert it into a Roth IRA. It’s a move that can offer significant long-term tax advantages—but it’s not the right choice for everyone. Before making the switch, it’s important to understand the benefits and drawbacks of a … Continued
A Roth IRA allows you to save for retirement with after-tax dollars, enjoy tax-free growth, and access qualified withdrawals tax-free in retirement. Unfortunately, high-income earners are generally barred from making direct Roth IRA contributions due to IRS income limits. A backdoor Roth strategy can be utilized to overcome this hurdle, but a mega backdoor Roth … Continued
“Should I contribute to a Roth IRA? How can I contribute to a Roth IRA?” Before answering those questions, we need to define what Roth assets are. The difference between a Roth IRA and traditional IRA is that Roth contributions are made with after-tax assets, and any growth on assets inside the Roth is tax-free. … Continued
Between now and 2045, Cerulli Associates estimates that more than $80 trillion in wealth will be transferred from the Baby Boomer generation to their heirs. It is understandable to assume some of those assets will be in the form of retirement accounts such as IRAs, Roth IRAs and 401(k)s. With the enactment of the SECURE … Continued
At Sand Hill, we work with multi-generational families and one request that we sometimes see from clients is a preference to name minor children as account beneficiaries. Unfortunately, minors are legally unable to own property; therefore, they cannot inherit investment assets in their own name. Naming minors outright will lead to unnecessary complications for their … Continued