Gilbert Wealth Articles

How to Buy TreasuryDirect Series I Savings Bonds

The following are basic instructions for how to purchase TreasuryDirect Series I Savings Bonds.  Updated as of February 27, 2023. If these steps have changed, please let me know. 1 Log Into TreasuryDirect Link to Login: Log In — TreasuryDirect The Log In process is a 3 step process: 1) Enter your account number 2) Enter the one-time password sent to your email address 3) Manually type password (and by manually, I mean you have to use your mouse to type the password into a digital keyboard. You are not able to copy and paste, use your keyboard, or use a…
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How to Report a Backdoor Roth Conversion

The Backdoor Roth strategy is a great way to get more savings into Roth IRAs if you are high-income and you’ve maxed out your other retirement options. If you have performed a Backdoor Roth or are considering performing one, it is important to understand the proper way to report the transaction, as it requires additional steps to ensure your money is not taxed twice and the IRS is satisfied. The Backdoor Roth Conversion Steps Contribute to a Traditional IRA Convert the Traditional IRA to a Roth IRA Report the transaction on your tax return What Documents You'll Receive While performing…
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How much is your advisor worth?

Are you considering working with a financial advisor, but not sure if it's worth the cost?  The truth is that everyone’s financial situation is different and there is no one-size-fits-all answer. But studies have shown that working with a financial advisor can bring great value to your finances, especially if you are looking for personalized advice and guidance.  As you look through the table, you'll see the benefits are expressed as a percentage. For example, a 1.00% benefit would mean that your overall financial well-being would improve by about 1.00% per year. For example, if your net worth were to…
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Budgeting Part 1: The Basics

Knowing how to budget is essential skill for financial success. It is the first step towards understanding your overall financial picture and planning for your future. Unfortunately, budgeting can be intimidating and overwhelming due to the sheer number of methods and techniques that exist. In this introduction, I will break down the fundamentals of budgeting, discuss some popular approaches, and provide a summary of key takeaways. With a solid understanding of budgeting basics under your belt, you'll be ready to tackle any challenge that comes your way!If you need convincing that you should budget, check out the 8 Benefits of…
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8 Benefits of Budgeting

Budgeting is simply tallying up your income and expenses to ensure you are living within your financial means. I rarely find someone who doesn’t have some positive or negative reaction to putting together a budget. When you hear the word budget, what words for feelings come to mind? Most people fall into two categories: those that cringe and those that get excited.  Regardless of your feelings, a budget is important for people in any financial situation.For those who cringe, you might think of a budget as being restrictive, taking too much time, being too complicated, or not enjoying your hard-earned money. However,…
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Setting Financial Goals

Creating goals is a powerful way to achieve success in any area of your life. Whether you're looking to advance your career, improve your health, achieve a personal dream, or reach financial milestones, setting goals can help you stay focused, motivated, and on track to achieving your desired outcomes.When I work with clients, helping them define their goals and assigning financial values to those goals is a big part of the financial planning process. While most clients have a common set of goal categories like when they want to retire or how to handle their children's educations, every client has…
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Yearly Asset Class Returns Through 2022

Key take aways Diversification is a great way to reduce the volatility of your portfolio. It is hard to predict which asset class will be the winner from year to year. How do you read the chart? The chart presents the annual returns for 9 major investment asset classes from 2008 to 2022. A tenth box is added to represent a sample "Asset Allocation" portfolio as discussed below. Each asset class and portfolio is assigned a color. Here is a guide to the labels and what they mean: Equity or Stocks Large Cap is the return of the largest 500 companies by…
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How to Protect Yourself from Cyber Crimes

Identity Theft is a Problem 40% of consumers have been a victim of online identity theft. Source: 2019 Experian $4,930 , is the average financial loss per identity theft incident. Source: U.S. Department of Justice, Javelin Strategy & Research 200 , , hours, on average, spent over 6 months to recover your identity. Source: SANS Institute What can you do to prevent this? “If you know the enemy and know yourself, you need not fear the result of a hundred battles. If you know yourself but not the enemy, for every victory gained you will also suffer a defeat. If…
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Comprehensive Services List

As a comprehensive financial planner, I am trained to address many areas of your financial life. While not exhaustive, I've compiled more detailed list of financial planning topics we may address in our planning arrangement.Note - Not all financial advisors cover the below topics. It is up to you to ask if these things will be addressed proactively or if you need to bring them up.  Investment Planning Portfolio Review Asset Allocation Time Horizon Planning Withdrawal Strategies Account Aggregation Monitor Outside Accounts Investment Policy Statement Stock Concentration Real Estate Analysis Executive Compensation Retirement Planning Planning for Financial Independence Savings Optimization…
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