Should I Consider a Partial Roth Conversion?

shj113016_roth_conversionsIn a world filled with IRAs, 401(k)s, and brokerage accounts, what is the appeal of a Roth IRA? Unlike a traditional IRA, when funds are withdrawn from a Roth IRA account they are tax free because taxes have already been paid on the money at the time contributions were made. With the traditional IRA, funds are contributed pre-tax so when money is withdrawn from the account it is taxable at ordinary income rates. So the question becomes, pay tax now or later?

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Inside the Economy with SH&J: November 21, 2016

Since election day, all eyes have been on the stock market in anticipation of what the new administration may bring. In addition, the yield curve has clearly shifted up in anticipation of a potential December interest rate increase. Listen to SH&J’s discussion on the current state of the U.S. economy and the impact of international quantitative easing policies on the dollar.

Taking a Moment to Reflect on What We Are Grateful For

As Thanksgiving approaches we like to take a moment to reflect on all of the things we have to be grateful for. When we asked the team what they are grateful for, Joel’s response encapsulated how all of us at SH&J feel, “I am grateful for clients who trust us to manage their portfolios.”

From all of us, thank you for your trust in us. We are so grateful for you!

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If A Significant Other Isn’t Truthful About Finances

photo-1443130128240-22fb98ca70a4Many of us are well aware of the emotional strain caused by infidelity in a relationship, but not as many are aware of the emotional strain caused by financial infidelity. However, this seems to be a growing problem in the United States. The National Foundation for Financial Education® (NEFE®) conducted a poll in early 2016, digging into the details of the presence of financial infidelity in households across the nation. “Among U.S. adults, 42 percent admit to financial infidelity compared to 33 percent just two years ago. The survey also finds that when financial deceptions occur, 75 percent say there is an effect on the relationship.” (Source)

You may be asking yourself, “What exactly qualifies as financial infidelity?” Financial infidelity has been defined as “…the secretive act of spending money, possessing credit and credit cards, holding secret accounts or stashes of money, borrowing money, or otherwise incurring debt unknown or unwilling to one’s spouse, partner, or significant other. Financial infidelity in a relationship may also include any financial decision(s) made by a partner that may effect, burden, strain or set back the financial planning of the relationship.” (Source)

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Inside the Economy with SH&J: Election Edition

Today we bring you a special edition of Inside the Economy with SH&J, at a time when our country is divided and there is a great deal of uncertainty surrounding the potential impacts of the outcome of this election. The media has anticipated turbulent stock markets, but this hasn’t been the case thus far. Listen in to learn why and hear more about our unbiased view of the state of the current economy.

3 Steps to Take Immediately After You Discover Your Identity was Stolen

shj110716_stolen_identity_blog_image-2Identity theft is much more common than any of us would like to think. In 2014, 32 data records were lost or stolen every second! (source) We have written about how to protect yourself in the past and recommend reading it again if it’s been a while. That said, sometimes no amount of protection can completely prevent identity theft.

Here are the first 3 things you should do if you suspect your identity has been stolen:

Lock down Your Account(s)
No matter how you discover your stolen identity, through a phone call from your bank or a database breach, the very first thing you need to do is lock down your problem account(s). Contact your financial institution and ask to either lock or close the account. You can usually roll the funds into another account or create a new one. Continue reading

Retirement Plans for Small Businesses

shj_small_business_retirement_plans_blog_imageSmall business owners have several options for choosing the right retirement plan. When deciding which plan is best, factors you should consider are how many employees you have and how are they paid? How much do you want to contribute to the plan for yourself or your partners, as business owners, as well as for your employees? Do you want to use the plan to attract future employees or for its tax advantages? Three retirement plans to consider are a SEP IRA, Simple IRA, and 401(k). Continue reading