‘Tis the season here at Keen Wealth!

While folks are wrapping up their holiday shopping and party plans, we’re helping clients put a bow on their 2018 finances. This time of year I’m always moved and inspired by how many of our clients are looking outside of themselves, using the assets they’ve worked so hard for to improve our community and help those in need.

On today’s show, we discuss how charitable giving factors into your year-end tax planning preparation. A little forethought and some guidance from a financial professional can help you maximize your generosity – which could make a big difference in another person’s life this holiday season. According to experts, giving could give your own health and happiness a big boost as we head into the new year.

As we discussed earlier this year, 2018 marks the 40th anniversary of the IRA and the 20th anniversary of the Roth IRA. For decades, Americans have been using these investment accounts to take control of their retirement planning and provide their families with favorable wealth building vehicles. The Roth in particular has become extremely popular thanks to its tax-free accumulation. And, as more and more seniors are working in retirement, the ability to keep making contributions for as long as you’re earning income is attractive as well.

Both the traditional and the Roth IRA have been around long enough now that many of our clients at Keen Wealth are coming to us with questions about how to bequeath these assets or provide an inheritance to their families. Inheriting assets can have a big impact on year-end tax prep, so we thought it would be a good idea to devote today’s episode to this topic. If you have inherited an IRA, or believe you may soon, you still have a few weeks to think about the following key points.