The Backdoor Roth IRA: A Strategy for Tax-Advantaged Savings for High Earners

By |2021-11-02T11:41:44-08:00October 5th, 2021|Wealth Management Resources|

Time to Read: 13 Minutes The backdoor Roth gives high earners access to a tax-free Roth IRA.  It can protect from rising taxes, give flexibility in retirement, and provide more for loved ones.  However, a backdoor Roth IRA isn’t right for everyone, and done incorrectly it can run up a hefty tax bill.  At BWM Financial, we guide clients through every step from understanding their options to ensuring a smooth experience.   Before we

Getting the Most from your Qualcomm Benefits Package

By |2021-12-15T11:06:53-08:00September 30th, 2021|Wealth Management Resources|

Time to Read: 16 Minutes At BWM Financial, we’ve helped executives, engineers, and scientists at San Diego companies with their financial affairs for over 20 years. This often involves navigating the complexities of employee benefits, such as company stock, options, retirement plans, and insurance benefits.  In over two decades, we’ve amassed comprehensive knowledge on the benefits at companies like Qualcomm. Many executives are simply so focused on their career

Mega Backdoor Roth 401(k) – Retirement Savings Strategies for High Earners

By |2021-11-05T10:21:15-08:00September 2nd, 2021|Wealth Management Resources|

Time to Read: 7 Minutes Maximizing retirement savings and devising strategies to keep taxes low are the cornerstones of building wealth. But with relatively low limits on 401(k) savings, how should high earners invest excess cash? There’s an extremely productive strategy that can turn your 401(k) into a vehicle for saving above the income limits and creating tax-free

Four Things to Know About Your 401(k)

By |2021-10-13T11:56:08-08:00August 26th, 2021|Wealth Management Resources|

Time to Read: 3 Minutes Consistently saving into a 401(k) plan during your working years is the foundation of a successful retirement plan. The process is usually quite simple, and an additional benefit can be a 401(k) match offered by an employer, which essentially amounts to free money, once you’ve met the threshold to qualify.   There are some

Retirement Budget: Can you skip the spreadsheet for a better way?

By |2021-10-13T11:59:04-08:00August 16th, 2021|Wealth Management Resources|

Time to Read: 6 Minutes Creating a sizeable nest egg is just the start of successful retirement planning. Ensuring that an investment portfolio will be able to provide a desired level of income for several decades requires a careful ongoing strategy, and making realistic predictions about long-term expenses is a critical step. It doesn’t have to be a complex, tedious process though. There’s a simple technique we’ve used to create

The Social Security Administration Has Announced Cost of Living Adjustments & Tax Changes For 2021. Here’s What You Need to Know

By |2021-10-15T13:10:00-08:00October 27th, 2020|Wealth Management Resources|

Time to Read: 5 Minutes On Tuesday, October 13, 2020, the Social Security Administration released important facts and figures for 2021 - including cost-of-living adjustments (COLA) for retirees and tax changes for the currently employed.  Here's what you need to know: The Good? Benefits Are Increasing Those receiving Social Security benefits will see a

Roth Conversion: A Better Way to IRA

By |2021-11-23T19:40:24-08:00September 2nd, 2020|Wealth Management Resources|

Time to Read:7 Minutes Roth IRAs are known for their tax-free growth and withdrawals; however, high earners and retirees regularly overlook these dream savings accounts because they have income limits that, on the surface, prevent them from participating. At BWM Financial (BWM), we think that Roth conversions are an effective, alternative way to save

The CARES Act Has Waived RMD Distributions for 2020. Here’s What You Should Know

By |2021-10-14T13:36:59-08:00April 27th, 2020|Wealth Management Resources|

Time to Read: 5 Minutes The Coronavirus Aid, Relief, and Economic Security Act, or CARES Act, was signed into law on March 27, 2020. This law was created in response to the COVID-19 pandemic, which has had a tremendous impact on the financial and physical health of Americans and businesses across the country. While there