Life Is Fragile, So, Please, Value Each Day As Priceless
Published Monday, May 14, 2018 at: 7:00 AM EDT
If you spend your professional life giving financial advice, you learn to appreciate every day.
As financial advisors, the fragility of life unfolds before us every day. At any moment, a client might call amid a family crisis or death.
This is not the kind of thing to bring up at a cocktail party, but this is part of the day-to-day work of a financial professional: a 17-year-old killed in a car crash; a 65-year-old mother of two grown children succumbing to cancer in her husband's arms; and a litany of unspeakable family tragedies happening in slow motion. This is the most important work in the practice of a financial professional.
The specialized knowledge about financial planning that we bring is often thought of only amid a family crisis, and that is what we're here for. It is a privilege not taken lightly.
Your trust motivates the relentless pursuit of your best interest and that is the way we operate. But the main point here, in these 190 words, is not about business; it's that we all should be thankful for every moment of every day and value it pricelessly.
This article was written by a professional financial journalist for Preferred NY Financial Group,LLC and is not intended as legal or investment advice.
An individual retirement account (IRA) allows individuals to direct pretax incom, up to specific annual limits, toward retirements that can grow tax-deferred (no capital gains or dividend income is taxed). Individual taxpayers are allowed to contribute 100% of compensation up to a specified maximum dollar amount to their Tranditional IRA. Contributions to the Tranditional IRA may be tax-deductible depending on the taxpayer's income, tax-filling status and other factors. Taxed must be paid upon withdrawal of any deducted contributions plus earnings and on the earnings from your non-deducted contributions. Prior to age 59%, distributions may be taken for certain reasons without incurring a 10 percent penalty on earnings. None of the information in this document should be considered tax or legal advice. Please consult with your legal or tax advisor for more information concerning your individual situation.
Contributions to a Roth IRA are not tax deductible and these is no mandatory distribution age. All earnings and principal are tax free if rules and regulations are followed. Eligibility for a Roth account depends on income. Principal contributions can be withdrawn any time without penalty (subject to some minimal conditions).
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