The Annex Wealth Management Blog

MoneyDo: Create Separate Passwords for Each of Your Accounts  September 16, 2022 We no longer choose whether we want to engage in the digital world or not. Today, practically everyone has an email address, which means practically everyone has at least one password. ...

MoneyDo: Consider A Roth Conversion   Many folks nearing retirement have amassed a significant nest egg in a retirement account. Traditional retirement accounts have special tax circumstances: funds are contributed to these accounts before the associated income...

MoneyDo: The End Of "Stretch" IRAs Over the last 6 months there has been a significant amount of legislation that has impacted IRAs, including the permanent law changes of the SECURE Act and the temporarily relief under the CARES Act. It’s important to understand how...

MoneyDo: Evaluate Your Employee Stock Holdings: How Much & Where Many employers give their employees the option of purchasing stock in the company, as a benefit to employees. In this week’s MoneyDo, we’ll encourage you to consider investing in your employer’s...

MoneyDo: Understand Your Charitable Planning Options It has been over to 100 years since a pandemic has impacted our society in the manner of COVID-19. It has impacted many of us financially and those without financial struggle are wondering how we can help. Churches,...

MoneyDo: Review Your Retirement Plan Contributions & Investments   Most of us have never been involved in a health crisis so severe that it created a massive economic disruption. But many of us have experienced a devastating economic disruption. Whether it is...

Independent Custodians   Annex Wealth Management uses three independent custodians: Charles Schwab, TD Ameritrade, and Fidelity to hold client money, instead of holding it ourselves. The custodian serves as a gatekeeper and watchdog for client accounts. As the...

MoneyDo: Consider What You’d Do If You’re Named An Executor, Personal Representative Or Trustee In An Estate Plan So, you’ve been named as an executor, personal representative or trustee in a relative’s estate plan. Now what? What does that mean? What will you need to...

MoneyDo: Ask Key Questions Before Paying Off Your Mortgage Early No matter if you’re nearing retirement and looking to remove a monthly expense, or simply seeking peace of mind by eliminating debt, you may be considering paying off your mortgage.Before you write out...

MoneyDo: Organize Your Estate & Financial Details   During this time of year spring cleaning is a chance to re-fresh, re-organize and declutter. Whether it's your closet, garage or that back flower bed there's always something to do. This week’s MoneyDo is to...

MoneyDo: Consider Investing in Employer Stock Many employers give their employees the option of purchasing stock in the company, as a benefit to employees. In this week’s MoneyDo, we’ll encourage you to consider investing in your employer’s stock, if it’s an available...

MoneyDo: Consider Saving For College Using A 529 Plan It’s August already – that time of the year when a good number of us get back to writing checks for college or even private school tuition.If you’re considering how you can be better prepared to make tuition...

MoneyDo: Start A Conversation About The Family Vacation HomeEstate planning can be difficult to undertake for a variety of reasons, including the process of considering who will inherit your wealth upon your passing. Financial accounts and assets feel – and often are...

MoneyDo: Get Familiar With Your Credit ReportWe’ve always recommended that folks review their credit report annually to understand what’s on it and how it affects your score.Now more than ever, it’s critical to know where you can get a copy of your credit report and...

MoneyDo: Review Your Estate Plan Estate planning, like financial planning, is an ongoing and evolving process that requires regular check-ins and reviews to ensure everything is in order. In a few prior MoneyDos, we’ve discussed the importance of account titling and...

MoneyDo: Career Planning With Your Child As your child enters high school, it’s time to begin considering their entrance into workforce. Start by spending time with your child, discussing his or her strengths, weaknesses, and where their passions lie. In this week’s...

MoneyDo: Review Your 401(k) Contribution Do you know how much you’re contributing to your 401(k) account? Many Americans aren’t sure. In fact, about 2/3 of Americans aren’t even invested in their company’s 401(k) or retirement plan. If you aren’t invested, you should...

MoneyDo: Consider What To Do If You Inherit An IRA We’ve discussed the importance of beneficiary designations previously in MoneyDo. This week’s MoneyDo focuses on IRA beneficiaries: Consider what you should do if you inherit an IRA.Simply put, you have to do two...

MoneyDo: Understand Your Pension and Lump Sum Payment OptionsAlthough pensions are becoming less common across the country, workers with many years of work history may have a pension as part of their benefits.  Some companies who have pensions see the massive...

MoneyDo: Know What You Own When It Comes To Alternative Investments Over the past few weeks, we’ve been encouraging you to know what you own – beyond the name of the investment, to what type of investment, what’s in it, and how it affects your portfolio, and...

MoneyDo: Protect Yourself/Family From Financial Elder Fraud   Most of us have taken steps to protect ourselves from the menace of identity theft, from freezing our credit to even adding protections to our computers and email. While Identity Theft is trouble,...

MoneyDo: Know what you own: Fixed Income   This week’s MoneyDo again encourages you to know what own – this time by taking a close look at your fixed income holdings. Fixed Income refers to investments that deliver a stable flow of money, often independent of...

MoneyDo: Know What You Own – International Equities   This week’s MoneyDo continues our advice to “Know What You Own,” specifically when it comes to International Equities. As we mentioned in an earlier MoneyDo, while it sounds rudimentary, we find that many...

Money Do – Discover What Probate Is And When It’s Needed  Probate may be one of the most misunderstood parts of the estate settlement process. Unfortunately, the term “probate” has garnered some negative connotations through headlines and heavily-publicized cases that...

MoneyDo: Know What You Own - US Equities This week’s MoneyDo is to Know What You Own when it comes to US Equities. It sounds rudimentary, but we find that many folks neglect to track what’s in their portfolio, or haven’t looked in months or years.In the United States,...

Consider These 11 Reasons To Start Estate PlanningPart 2When we’re younger, we tend to focus first on taking care of ourselves, whether it’s personally, professionally or financially. Life changes, and so do our priorities. Sometimes, it’s when we have children; at...

Consider These 11 Reasons To Start Estate PlanningPart 1 When we’re younger, we tend to focus first on taking care of ourselves, whether it’s personally, professionally or financially. Life changes, and so do our priorities. Sometimes, it’s when we have children; at...

Review Account Titles & Beneficiary Designations   Account titling is an important part of getting your assets organized and aligned with your estate planning goals.  Account titling refers to who is listed as an owner of an asset, and the type of ownership....

Consider Who Can & Will Act As Your Power of Attorney   As we age, it becomes increasingly important to have financial powers of attorney in place to ensure someone can manage our finances once we’re unable to do so. Who you select in that role is a critical...