『Financial Symmetry: Balancing Today with Retirement』のカバーアート

Financial Symmetry: Balancing Today with Retirement

Financial Symmetry: Balancing Today with Retirement

著者： Chad Smith CFP® and Mike Eklund CFP®
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When considering retirement, do you wonder what financial opportunities you may be missing? Busy lives take over and years pass without taking advantage. In this retirement podcast, the Financial Symmetry advisors unveil financial opportunities, to help you balance enjoying today so you are ready to retire later. By day, they are fiduciary fee-only financial advisors who answer questions about tax savings, investment decisions, and how to save more. If you've been putting off your financial to-do list or are just not sure what you've been missing, subscribe to the show and learn more at www.financialsymmetry.com. Financial Symmetry is a Raleigh Financial Advisor. Proudly serving clients in the Triangle of North Carolina for over 20 years. マネジメント マネジメント・リーダーシップ 個人ファイナンス 経済学
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  • Five Common IRS Letters Explained, Ep #260

    Five Common IRS Letters Explained, Ep #260
    2026/06/29
    Six Essential Tips for Any IRS Letter Before diving into the specifics of the five most common letters, we share six universal tips to ground your response: Don't Panic – IRS notices are routine, and millions are sent each year. Receiving one doesn't mean you're uniquely targeted.Read Carefully – Understand exactly what the notice is about, and pay close attention to response deadlines, which are usually 30–60 days.Check the Notice Number – The code (CP2000, CP14, etc.) is a quick indicator of what issue the letter addresses.Verify Accuracy – Make sure you agree with what the IRS claims before responding.Respond Promptly – Ignoring the notice only escalates the situation.Recognize Communication Scams – The IRS will only contact you via postal mail, never by phone, text, or email. Delete any digital messages claiming to be from the IRS. 1. CP2000: Underreported Income The most anxiety-inducing letter is the CP2000, which suggests your reported income doesn't match what the IRS received from employers, banks, or investment firms. It usually happens when a W-2 or 1099 is forgotten or lost—perhaps from an overlooked brokerage account or stock plan. If you agree with the IRS assessment, the fix is easy: sign, pay, and you're done. If you disagree, submit a written response with supporting documentation. The best strategy is to prevent these in the first place by tracking every form and matching them up during tax prep. 2. CP14: Balance Due Notices This is the IRS's formal heads-up that you owe additional tax, interest, or penalties. Often, it's a result of not paying the owed amount with your return or missing a payment deadline. With interest rates rising in recent years, CP14 letters for underpayment penalties have become more commonplace. Quick action on your part reduces further penalties and interest. 3. Letter 5071C/4883C: Identity Verification The IRS likely suspects that your return could be fraudulent—or simply that it contains inconsistencies, such as a new address or a filing status change. Unfortunately, refunds are frozen until you complete verification, which is usually best done online due to IRS call volume. Though inconvenient, this step helps prevent scammers from receiving refunds in your name. 4. CP60/4870: Removed Payments & Bank Errors The CP60 notifies you that a payment or credit applied to your IRS account was reversed, perhaps due to a clerical error like misapplied Social Security numbers or tax years. Closely related, Notice 4870 penalizes you for insufficient funds if your electronic payment bounces—at a rate of 2% of the amount due, which stings when balances are high. Always double-check bank details and ensure funds are present when scheduling payments. 5. CP30A: Underpayment Penalty Charges If you were surprised by an interest charge after filing, it's likely a CP30A. This means your total payments through withholding or estimated taxes fell short, so the IRS is charging underpayment interest—currently around 7–8%. For those with irregular income (like business owners or those with bonuses), you can sometimes reduce the penalty by clarifying when income was received. Stay Diligent and Proactive IRS notices are an unfortunate but normal part of adult financial life. The best defense is to maintain diligent records, clarify any confusion before acting, and, if needed, seek out a qualified financial advisor for help. Many issues are quickly resolved once you respond—just don't let anxiety freeze you from taking action. Outline of This Episode [00:00] Dealing with IRS letter anxiety[05:53] Handling tax discrepancies[09:37] IRS identity verification process[12:48] IRS payment errors explained[15:19] Underpayment interest and IRS notices[18:13] Keeping accurate financial records Resources & People Mentioned The Retirement Podcast Network The Dreaded IRS Letter: Dealing with a CP2000, Ep #95 - Financial Symmetry, Inc. Connect With Chad and Mike https://www.financialsymmetry.com/podcast-archive/ Connect on Twitter @csmithraleigh @TeamFSINCFollow Financial Symmetry on Facebook Subscribe To This Podcast Apple Podcasts <> Stitcher <> Google Play
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    20 分
  • When Should You Make a Roth IRA Withdrawal?, Ep #259

    When Should You Make a Roth IRA Withdrawal?, Ep #259
    2026/06/08
    When it comes to retirement savings, Roth IRAs are among the most powerful tools for achieving tax diversification and financial flexibility. Knowing how and when to tap into your Roth IRA can make a tremendous difference in optimizing your tax situation, ensuring income over the years, and even establishing a valuable legacy for your heirs. On the podcast this week, we're digging into the strategic considerations around Roth IRA withdrawals, covering timing, special scenarios, tax rules, and advanced planning for both your retirement and your family's future. Roth IRA Withdrawal Rules Before you even think about crafting a withdrawal strategy, it's essential to understand the rules that govern Roth IRA distributions: Contributions: The money you contribute to your Roth IRA can be withdrawn at any time, free of taxes and penalties. This is because you've already paid taxes on these funds.Earnings (Growth): The gains in your Roth IRA—the earnings on your contributions—are subject to stricter rules. To withdraw these growth dollars tax- and penalty-free, you generally must:Be at least 59½ years old.Have held the Roth IRA for at least five years Roth IRAs offer unique flexibility since they aren't subject to required minimum distributions (RMDs) during the account owner's lifetime, allowing for long-term, strategic use. Timing Your Withdrawals: Three Key Life Phases Pre-Retirement Flexibility Withdrawing from your Roth IRA before retirement isn't common, but certain life events may make it necessary. Common scenarios include college costs not fully covered by a 529 plan, job loss or layoff, with the Roth IRA serving as an emergency fund if you lack other options, or a first-time home purchase, with special provisions allowing up to $10,000 of earnings to be withdrawn penalty-free for this purpose. While, ideally, your Roth contributions keep compounding for retirement, knowing that you can access them penalty-free if needed provides valuable peace of mind—especially for younger savers balancing competing priorities. Strategic Retirement Withdrawals Once you reach retirement, timing and tax strategy become crucial. Most advisors recommend tapping taxable brokerage and pre-tax accounts (like traditional IRAs or 401(k)s) first, saving Roth IRA withdrawals for years when you need extra flexibility. Scenarios where a Roth withdrawal is especially powerful include when you want to avoid higher tax brackets or Medicare surcharges, or you want to maximize healthcare subsidies. Withdrawing from your Roth IRA rather than from pre-tax accounts can help keep income below the "cliff" and preserve valuable subsidies. Careful coordination, often with personalized modeling or tax projections, ensures you maximize lifetime tax efficiency—not just minimize taxes in a single year. Legacy and Heir Planning For many, the ultimate goal is to leave a financial legacy. The Roth IRA shines here because withdrawals by beneficiaries are tax-free, although subject to a 10-year withdrawal rule for most non-spouse heirs. By positioning the Roth IRA as a legacy asset, you create flexibility for both yourself and your beneficiaries while minimizing future tax headaches. Why a Personalized Withdrawal Strategy Matters Retirement income planning is complex, with countless moving parts: tax brackets, healthcare premiums, surprise expenses, and more. The accumulation phase may seem simpler, but the drawdown phase is where careful coordination—and making the most of your Roth IRA—ensures long-term success and peace of mind. Detailed, personalized planning is the key to maximizing your savings and retiring with confidence. Outline of This Episode [01:08] Roth IRAs will likely be used for withdrawals eventually, but not typically first [03:54] Why you might make pre-retirement withdrawals[06:08] Roth IRA withdrawals in retirement[08:00] Managing withdrawals to optimize taxes[12:19] Managing pre-tax and after-tax accounts[14:55] Personalized financial planning and tax strategies Resources & People Mentioned The Retirement Podcast Network Roth Conversion by the Decades, Ep #171 Which Roth Account Is the Right Scoop for You? Ep #245 Your Retirement Secret Weapon: The Mega Backdoor Roth, Ep 144 Connect With Chad and Cameron https://www.financialsymmetry.com/podcast-archive/ Connect on Twitter @csmithraleigh @TeamFSINCFollow Financial Symmetry on Facebook Subscribe To This Podcast Apple Podcasts <> Stitcher <> Google Play
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    16 分
  • Diversifying Without a Big Tax Bill with Mike Eklund, Ep #258

    Diversifying Without a Big Tax Bill with Mike Eklund, Ep #258
    2026/05/18
    Holding a significant portion of your wealth in one or a handful of individual stocks can be both exhilarating and nerve-wracking. While the rewards of watching a single company's meteoric rise can be life-changing, the risks of a lack of diversification are just as great. The problem is that liquidating these positions often means getting hit with daunting tax bills. We walk through practical solutions and the new tools now available to investors seeking diversification without immediate tax consequences. The Real Risk of Concentration It's tempting to simply hang onto a winning stock, postponing taxes until you're in a lower bracket or retired. But over 90% of stocks underperform the market long term. Individual company fortunes can change abruptly—think Enron, Lehman Brothers, or stock collapses from $50 to $0.50. Banking your whole plan on one company's continued success is a risk that can jeopardize even the soundest of financial plans. Taking calculated steps to shift your assets, even if taxes are due eventually, is often essential for long-term stability. Modern Options for Tackling Concentrated Stock Technology and innovation in the investment industry are opening doors once reserved for the ultra-wealthy. Here are four tax-deferral solutions we discuss: 1. Exchange Funds Exchange funds allow investors to pool their highly appreciated stocks with others, resulting in a diversified basket—often 20–30 stocks. You maintain your original cost basis, and after a 7-year lock-up period, you can access a more diversified portfolio. There are usually high entry minimums ($250,000–$500,000) and the investor must be an accredited. It requires a long holding period and comes with added complexity, costs, and delayed K-1 tax forms. At the end, you still owe taxes if you sell, but you've reduced single-stock risk. 2. Section 351 Funds If you hold several different stocks or even ETFs that no longer fit your strategy, Section 351 exchanges allow you to transfer them into a new, broadly diversified fund with tax deferral. This is similar in spirit to a 1031 real estate exchange but designed for securities. This option gives you flexibility, but it only works with publicly traded investments in taxable (not retirement) accounts 3. Separately Managed Accounts (SMAs) SMAs have become popular for allowing greater customization. In an SMA, instead of owning an index fund, you hold the constituent stocks directly—allowing for tax loss harvesting and the exclusion of specific stocks. This offers personalized values-based investing but creates more complex tax reporting and can create complications for you and your CPA. 4. Tax Aware Long/Short Strategies Recently popular but highly complex, these leverage SMAs and add a long/short overlay, aiming to maximize loss harvesting regardless of overall market conditions. This uses leverage and shorting, increasing risk and management costs. It gives greater potential for tax loss harvesting, but introduces tracking error and liquidity constraints. This is best for specific, high-need scenarios. Keep Your Broader Plan in Mind Always return to your broader financial plan. Look at that accumulated stock position in the context of your overall financial plan and everything else that's happening in your goals and life. These tactics are tools, not silver bullets. Sometimes, the simplest (if less glamorous) move—selling, paying taxes, and reinvesting—might be your best decision. Concentrated stock positions can be both an opportunity and a source of anxiety. Before chasing the latest "shiny object," evaluate your situation with the help of an advisor. Find the approach that aligns with your risk, liquidity needs, and long-term goals. Sometimes, boring really is better—for both your taxes and your sleep. Outline of This Episode 00:00 Discussing tax deferral options03:42 Risks of relying on stocks09:14 Evaluating stock donation options12:49 Explaining Section 351 funds14:29 Using ETFs for tax deferral18:24 Considering life changes for tax planning21:57 Evaluating investment advice sources Resources & People Mentioned The Retirement Podcast Network Connect With Chad and Mike https://www.financialsymmetry.com/podcast-archive/ Connect on Twitter @csmithraleigh @TeamFSINCFollow Financial Symmetry on Facebook Subscribe To This Podcast Apple Podcasts <> Stitcher <> Google Play
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    25 分
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