Broker Check


It’s only natural to have a lot of questions when it comes to taking care of your financial health. Our professional team has compiled a list of frequently asked questions that have been posed by our clients in the past so that you can have quick access to the answers you need. Please browse the list below and feel free to reach out should you have any further questions. 

  1. How much money do I need to save for retirement?
    The answer will depend on a number of factors that are unique to your life, such as how many years until you retire, how much you’re able to save currently, what your expectations are for rate of return and comfort with risk.  To develop your own personalized financial plan, contact us.
  2. What’s the difference between a 401(k) and IRA?
    IRA is an acronym for Individual Retirement Account.  An IRA account is always dedicated to one individual person.  A 401(k) plan is an employer-sponsored retirement plan, meaning your employer owns the retirement plan and as an employee, you can participate in saving retirement dollars through that plan.
    The IRS sets certain limits on how much is allowed to be contributed into a 401(k) or IRA each year, and there are some eligibility requirements based on your adjusted gross income.  For more details, click here.
  3. What are RSUs?
    RSU is an acronym for restricted stock units.  These are granted as part of employee compensation, and they typically have a vesting plan assigned, which can be time-based, over a number of years (commonly 4 years), or it can be performance-based upon specified milestones.  Once the RSUs are vested, they become regular common stock shares which you own and can choose to hold or sell when you wish.  There are important tax considerations for the year in which they vest and upon the sale of the stock. It is best to work with a professional tax advisor to understand your specific tax implications.
  4. What is ESPP?
    ESPP stands for Employer Stock Purchase Plan, and it allows employees to buy their company’s stock at a discounted price and receive a favorable tax treatment on the sale of that stock in the future if the employee holds the stock for the later of two years following the grant date and one year following the exercise date (called a qualifying disposition).
  5. How can I create a budget?
    Let’s not over-complicate this.  Most people have a habit of spending a certain amount of money each month.  To keep it simple, look at your most recent bank statements and credit card statements to see how much you spend.  Categorize that spending, and then make sure you account for large one-time or semi-annual payments for things such as property taxes and insurance.  You can divide those by 12 or 6 (respectively) to amortize it into your monthly budget.   

Next, when you categorize your spending, and you will likely come across “that one thing” which was a larger purchase, but not something you buy every month or even every year.  This might be travel related, a special gift for you or someone you love, or maybe you just had to buy a new dishwasher.  Keep that amount in your budget!  The key is, there usually is “that one thing”, and while the “thing” changes, the expense amount is often pretty similar.  Again, most people have a habit of spending a certain amount each month, so keep “that one thing” included in your monthly budget.

Contributions to a traditional IRA may be tax deductible in the contribution year, with current income tax due at withdrawal.  Withdrawals prior to age 59 ½ may result in a 10% IRS penalty tax in addition to current income tax.