2010 Estate Planning: Roth IRA Conversion Considerations
Q&A with Mitch Drossman, Head of National Wealth Strategies for U.S. Trust, Bank of America Private Wealth Management, and Ramzi Nuwayhid, Wealth Management Advisor for Merrill Lynch Global Wealth Management, Boston
What impact may the 2010 Roth IRA conversion rule change have on estate planning?
According to findings from Affluent Insights Quarterly, a survey report released by Merrill Lynch Global Wealth Management in October, 49 percent of affluent Bostonians consider estate planning a high priority. In light of recent economic conditions, many of our clients are asking about how to preserve their estate and provide for their heirs. Read more
Roth IRA: Opportunities and Insights
Q & A with Jim Brown, Senior Vice President of Personal Retirement Solutions and Heather Walsh, Wealth Management Advisor, for Merrill Lynch Wealth Management, Boston, MA
What are the differences between a Traditional IRA and a Roth IRA?
An IRA is an account that provides you with certain tax advantages for saving for your retirement. If you are eligible to contribute to a traditional IRA, your assets may grow tax-deferred, and distributions taken after age 59½ generally are taxed as ordinary income. Read more
Rebalancing 401k Accounts
Q and A with Mary Mullin, Wealth Management Advisor for Merrill Lynch Global Wealth Management, Boston, MA
The past year has impacted many of our 401(k) plans. What advice do you have for investors to get their retirement plans back on track?
For many people, their 401(k) is their largest asset. Investors should look to see how their 401(k) fits into their overall retirement strategy. Read more
Estate Planning: How to Choose a Guardian
Jennifer tackles estate planning, with a question from Nancy in Holden, MA
We just had our second baby and we know we need a will. Our problem is naming the guardian. My husband wants to name one person and I want to name another. We’re at an impasse…do you have any suggestions?
Hi Nancy, I talk to a lot of couples about estate planning and choosing the guardian often is their biggest obstacle. Read more
Redefining Planning Goals: Focus on Retirement
Q and A with Ramzi Nuwayhid, Wealth Management Advisor for Merrill Lynch Global Wealth Management, Boston, MA
Have the financial planning goals of investors changed during this uncertain economic climate?
Many investors’ assets have been subject to the economic storm for the past 12-18 months, and some families’ portfolios have been impacted. Before the crisis, retirees, pre-retirees and younger families based their financial well-being on a pre-determined nest egg that, until the recent economic downturn, seemed suitable in the pursuit of their personal goals and objectives. Read more
Asset Allocation and Rebalancing: Back to the Basics
Q&A with Marcie Behman, Wealth Management Advisor for Merrill Lynch Global Wealth Management, Boston, MA
Through the market crash in 2008, and more recently in the recovery phase, what is the most common mistake that you see investors making?
The most common mistake that we see is that investors seek opportunities that are emotion-driven rather than part of a disciplined investment strategy – making investment decisions guided by their hearts instead of their heads. As a result, many of the investors will take too much risk going into a bear market and not enough risk coming out. Read more
Asset Allocation and Portfolio Perspectives
Q and A with Paul McCauley, Private Wealth Advisor for Merrill Lynch Private Banking, Boston, MA
Should investors approach their financial allocation with the mindset that the worst is behind them?
For the time being, the peak in investor fear has passed. Earlier in the year investors were fearful of systemic bank failures, bank nationalizations, a deep global recession, if not depression, and the view that policymakers were far behind the curve in understanding the problems the world faced.
Read more
Consolidating Debt
By: Jennifer Lane CFP 
Today we tackle debt consolidation, with a question from Stephen:
Hi Jennifer, I’m married with 2 young children living in Reading. Five years ago we took a 5/1 ARM at 3.875% thinking we were going to move into something bigger within 5 years. We didn’t and now we plan to stay here indefinitely.
The right financial mindset for small business owners
Gary McGuirk, Merrill Lynch Boston
What are main concerns for small business owners in today’s economy?
Small business owners have many concerns in today’s economy. They must continue to keep an eye on the bottom line, be concerned about employees and make sure that customers are happy. The events of the last 18 months have made their business journey even more difficult. Read more
Is Refinancing a Good Idea?
Jennifer Lane, Compass Planning
Jennifer Responds to a Viewer Question from: Virginia in Fountain Hills, Arizona
Dear Jennifer,
Should I save interest costs by paying extra on my mortgage principal or refinance to a lower rate?