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IRA Risks and Expenses

Insurance Professional Donn Sinclair

by Donn J. Sinclair, MBA          January 15, 2020

A few words about risks, fees and expenses related to your investments. Before you move forward with any investment - you should carefully consider that investment’s objectives, risks, fees, and expenses. Not all exchange trade funds (ETFs) and mutual funds may be appropriate your specific situation. We all have our own unique risk temperaments and investment objectives that may or may not match any particular ETF or mutual fund. Furthermore, before investing in any ETF or mutual fund, you should carefully read the prospectus or summary prospectus. This prospectus will outline the specifics of that fund; including that fund’s objectives, fees, and expenses. Said securities expressly to include ETFs and mutual funds. Remember that any investment’s past performance is no guarantee of future results. The information and opinions contained herein are for educational purposes only; and expressly do not constitute a solicitation for the purchase or sale of any securities. This educational information should not be relied upon as financial advice.

Updated in Rock Hill SC and Charlotte NC by Donn J. Sinclair, MBA - (803) 329-0609 - January 15, 2020


@Sinclair Financial Solutions is independently owned and operated. Donn J. Sinclair, MBA is insurance licensed in NC and SC (NIPR NPN#1722815). Investment Advisory Services offered through Prosperity Wealth Management, Inc., 2333 San Ramon Valley Boulevard, Suite #200 - San Ramon, CA 94583. Securities offered through Fortune Financial Services, Inc., 3582 Brodhead Road, Suite #202 - Monaca, PA 15061 Member FINRA/SIPC; branch office of record located at 948 Myrtle Drive Rock Hill, SC 29730. Sinclair Financial Solutions, Prosperity Wealth Management, and Fortune Financial Services, Inc are separate entities. SC Real Estate License #76530, and NRDS #554027312.

   

Personal Finance, Medicare, and IRA Article Library

At Sinclair Financial, we want to make sure you are knowledgeable about your finances. That is why we have created an archive of resources for you to make use of. If you’d like to contact us, please use the “Let’s Talk” button on the navigation menu.

  • Who Can Open a Traditional IRA ?

    • by Kristin P. Sinclair  –  A Accu Tax  –  January 11, 2020

      You have decided to pursue a Traditional IRA.  That is an excellent decision!  So what is your next step ?  First check to make certain that you are eligible to open a Traditional IRA for 2019 and/or 2020.  Normally you should qualify to open and make contributions to a Traditional IRA if:

      • ​​You (or your spouse if you file jointly) received taxable compensation during that tax year (2019 or 2020).​​
      • You were not age 70 ½ by the end of that tax year (2019 or 2020).​​

      Whether or not you are covered by another retirement plan you can start your Traditional IRA.  If either you or your spouse is covered by an employer retirement plan; however, then it is important to note that your deductible contributions may be limited.

      Learn More

  • Index and Exchange Trade Funds (ETFs)

    • by Donn J. Sinclair, MBA   March 10, 2020

      An Index Fund is made up of a basket of securities designed to track and match the performance of a benchmark or index.  The Index Fund is also frequently called a Passively Managed Fund.  The Index Fund may be designed to track or match a stock or bond index.  Some of the most popular stock Index Funds attempt to track the S&P500 and the NASDAQ100, and some of the most popular bond Index Funds are designed to match the Total Bond Index and the International Bond Index.

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  • What is a Traditional IRA?

    • by Donn J. Sinclair MBA   March 5, 2020

      A Traditional IRA is an Individual Retirement Account that permits you to set aside funds in a tax-favored retirement savings/investment program.  One of the two most important IRA advantages is that you may be able to fully or partially deduct your contributions from your current tax year federal and state taxable income.  If so, then your IRA contribution should reduce your current tax year federal and state taxes.  This should leave you more money in your Traditional IRA account to earn you more money in the years ahead !

      Learn More

  • Medicare Options at Age 65

    • by Kristin P. Sinclair   February 20, 2020

      Group Health Insurance for those working beyond 65 year of age, benefit from both what Medicare offers plus what their group health plan offers.  Caution – avoid an HSA qualifying plan because a Medicare Beneficiary is not able to contribute to an HSA.

      Retiree Health Plans were quite common with Large Group Employer retirement benefits.  Changes in the last 10 plus years have fewer large groups that offer coverage to their many retirees.  Today these plans tend to more resemble those plans that most people are able to find on their own.  Just with a connection to the former employer.

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  • Medicare Cost Sharing 2020 Updates

    • by Kristin P. Sinclair   February 7, 2020

      Medicare has unlimited out of pocket exposure.  Therefore it is important that you the Medicare beneficiary have coverage above and beyond that of the original Medicare.  Supplemental coverage can help pay for that additional out of pocket exposure and different plan designs offer different levels of coverage.  This supplemental coverage includes Medicare Supplements and Medicare Advantage Plans.  

      Learn More

  • 2020 Medicare Part A and Medicare Part B

    • by Kristin P. Sinclair   January 17, 2020

      January 2020: It is a new Year and Medicare Cost Sharing has changed for the 2020 Annual Period.

      Since Medicare has unlimited out of pocket exposure it is important that the Medicare beneficiary have coverage above and beyond that to the original Medicare. Supplemental coverage options can help pay for that additional out of pocket exposure and different plan designs off different levels of coverage. You can call Kristin at 803-329-0615 to discuss setting up an appoint to review coverage options than can help you protect your out of pocket exposure.

      Medicare Part A in 2020 has a $1,408.00 deductible for Hospital Admission as an inpatient. That amount is applicable whether You are admitted for one day or up to 60 consecutive days. On days 61 through 90 the Medicare beneficiary would have a co-payment responsibility of $352.00 per day. On days 91 through 150 which are one time use life time reserve days the Medicare beneficiary would have a co-payment responsibility of $704.00 per day. At which point Medicare would have paid as much toward that admission as could be paid by the original Medicare.

      Learn More

  • What is a Fixed Annuity?

    • By Donn J. Sinclair, MBA November 12, 2019

      Insurance Professional Donn Sinclair

      Fixed annuities pay guaranteed rates of interest and in many cases higher interest rates than those available from other financial institutions. Fixed annuities are the issued by insurance companies and are essentially fixed rate savings/investments from an insurance company.

      You can select either a deferred or immediate fixed annuity. The deferred fixed annuity normally allows your savings to grow tax-deferred while accumulating regular rates of interest. The immediate annuity usually provides you with regular fixed payments which are partially determined by your age, the size of your annuity purchase, the payment schedule selected, and the interest rate for your annuity.

      Learn More

  • Your Home Showcasing Strategy

    • by Donn J. Sinclair, MBA   March 14, 2020

      Curb to Door Appeal

      The first impression that your home makes on prospective buyers as they approach your home should entice them to step out of their car and enjoy the upcoming showing. Clean, or have someone clean the gutters so they are free of any visible leaves and debris. Your roof should not look like it is need of imminent replacement. You or someone should hose down the exterior, plus use a soft brush or sponge mop to clean hard to reach soffit and fascia, plus the doors, windows and frames. Your front entryway should sparkle. Thoroughly clean the doors, replace any tarnished hardware, and replace any dingy or burnt out lighting. A new front doormat might be just the final touch.

      Learn More

  • Retirement Income Tax Planning

    • by Kristin P. Sinclair – A Accu Tax – February 19, 2020

      Recently Carol has had to make several expensive trips to the car repair shop, and she has decided now is the time to trade up.  Carol researched 2020 models earlier this month and found a new small truck that fits her lifestyle.  Carol feels this truck will provide her reliable transportation and has a warranty that will provide her peace of mind.

      Carol has not had a car payment for five years.  She has been saving for her down payment, and would like to pay off her new truck in three years or less.  Carol does not have a home mortgage payment, and has two credit cards that she pays off every month.  She feels confident that she will qualify for a low interest rate truck loan.  Obviously, Carol has been considering many factors in this truck purchase decision.  

      Learn More

       

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