Checking In with Ara – November 2023
It’s Ara here with your November 2023 update. I genuinely hope this message finds each of you in good spirits as we approach the festive season.
A Brief Trip Down Memory Lane
Recently, I took a trip to Mexico with my mother. Those days were filled with cherished memories, laughter, and the heartwarming embrace of family. Acting as mom’s personal translator, tour guide, and, of course, luggage porter made the experience all the more special. I’m already looking forward to our next adventure!
Navigating Through Uncertain Times
The world, as we see it, is enveloped in a wave of uncertainty, with inflation, potential recession, and significant global events shaping our conversations and concerns. It’s during these times that I’m reminded of why we established the personalized bucket strategy for you. The unexpected happens, and unpredictable ‘black swan’ events can shape our future. But rest assured, our strategy segments your assets into three distinct buckets. With enough income stashed away in bucket number one to support you for 5 to 7 years, we’ve got your back.
With the holiday bustle just around the corner, let’s make sure we’re prepared. Before we bid goodbye to the year, let’s address the essentials: RMDs, tax harvesting, and any potential Roth conversions. If we haven’t sat down for a review this year, please reach out to Annie Bush or Stephen Hague. They’ll help set up our meeting.
As always, your peace of mind is our top priority. I’m here to guide, assist, and provide reassurance. Looking forward to our continued collaboration. Until next time, take care and stay well.
Watch the video above to hear directly from Ara about the latest updates and insights.
Different types of investments and/or investment strategies involve varying levels of risk, and there can be no assurance that any specific investment or investment strategy will be profitable for a client's or prospective client's portfolio, thus, investments may result in a loss of principal.
Roth IRA distributions of principal from a Roth IRA are tax-free; however, any earnings will be taxed at ordinary income rates and a 10% penalty tax will apply if withdrawn prior to age 59½ or within five years of the date the Roth IRA was established, whichever is longer.
Traditional IRA account owners have considerations to make before performing a Roth IRA conversion. These primarily include income tax consequences on the converted amount in the year of conversion, withdrawal limitations from a Roth IRA, and income limitations for future contributions to a Roth IRA. In addition, if you are required to take a required minimum distribution (RMD) in the year you convert, you must do so before converting to a Roth IRA.
Ara Freedman is a registered representative with, and securities and advisory services offered through LPL Financial, a registered investment advisor and member FINRA/SIPC. The investment professionals are affiliated with LPL Financial and are conducting business using the name Lucia Capital Group, a separate entity from LPL Financial.