IRA Conversion 

December 21, 2024

Conversions of a traditional IRA to a Roth can differ individual to individual, even where the same sum of money is involved. Let’s take, for example, two individuals, each with $100,000 in a traditional IRA, that the funds were identically invested and would double over 10 years. The tax rate was posed to be 30%. The first individual paid the $30,000 to convert her IRA to a Roth IRA, and as a result had $70,000. At the end, she had $140,000 to withdraw tax-free. The other individual didn’t convert and his $100,000 grew to $200,000. But when he went to

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Are You Maximized? 

December 13, 2024

As year-end approaches, it might be a good time to reflect on if you are allocating funds to be sure to maximize your contributions to tax advantaged accounts. If you can, you should consider making your contributions sooner rather than later. Even though you have until year-end to make contributions to your 401(k), or Tax Day for your traditional or Roth IRA, making early contributions to your retirement accounts will give your money more time to benefit from potential long-term compound growth. Call us if you would like to discuss how to put those funds to good use! We’re always

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Lost 401k

December 2, 2024

As we approach year end we are frequently being asked about what we call “Lost 401k” accounts. Perhaps you changed jobs, or your employer went out of business or merged with another company, or maybe you’ve just put the memories of a workplace that you left years ago far, far behind you. And now, you cannot for the life of you figure out how to track down an unclaimed pension or 401(k) plan. It’s a frequent problem for many people.  Did you know that a new federal Retirement Savings Lost and Found was required as part of the Secure 2.0

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Americans Are More Afraid of Retirement Than Death

December 2, 2024

According to a national survey for LiveCareer in June, about 61% of working Americans are more afraid of retirement than of death. Why is this? The survey suggests the reason is that many Americans are financially unprepared to retire. About 20% of Americans ages 50 and older were shown to have no retirement savings according to an AARP survey in January, and 61% are worried they won’t have enough money for retirement. Call us if you have similar concerns. We have some options for providing an income you can’t outlive and protecting yourself from market losses on that money you

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This site is for informational purposes only and is not intended to be a solicitation for or offering of any product or investment. The offer for sale of an insurance product may only be conducted in a state where the agent is licensed and the product is approved for sale. The providing of investment advice relating to securities may only be done by a properly licensed individual operating through a licensed affiliate entity, unless otherwise exempt. Comments about past performance are not to be construed as a guarantee or assurance of future performance. This website may contain concepts that have legal, accounting and tax implications. We do not provide specific legal or tax advice, nor promote, market or recommend any tax plan or arrangement. Consult a tax/legal professional for guidance with your individual situation. No representations are made as to the accuracy or completeness of the information contained herein or any information contained in any link provided herein, nor does a consumer visiting the website create an agent-client relationship.

Robert S. Messina, an Investment Advisory Representative (IAR), offers advisory services through Gibbs Wealth Management, an SEC registered investment advisor. The firm only transacts business in states where it is properly registered or is excluded or exempted from registration requirements. Financial Resources Group and Gibbs Wealth Management are independent of each other. Insurance products and services are not offered through Gibbs Wealth Management but are offered and sold independently by Financial Resources Group and Robert Messina, CA License #0E88665 and FRG Insurance Solutions, Inc. CA Ins Lic #0K21118.

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