Recommended Action Items before the end of 2010:
- Consider Roth IRA Conversion: this may be a once in a lifetime opportunity for high income earners. Some of the major factors are the number of years available until withdrawals are anticipated, current and future tax rates. Also consider converting by Asset Class for maximum potential benefit.
- Pay Down Debt: Investment Markets are up strongly in the past year. There is no telling where they are headed, but serious consideration should be given to paying down debt, even if it means liquidating some investments, and even if the debt is at zero or low interest rates. We have just lived through the biggest Bull Market following a Bear Market in modern history. Now may be a good time to reduce Debt and increase Net Cash Flow.
- Consider Gifting in 2010: the maximum federal Gift Tax Rate in 2010 is 35%, as of last year there is no current North Carolina Gift Tax, and the maximum federal Estate Tax Rate is scheduled to be 55% starting 2011, plus the State Death Tax also returns next year. Now may be the year to consider taxable gifts or face higher Estate Taxes later.
- Have any U.S. Savings Bonds lying around? Most of these relics of the past are no longer accruing any interest, or may cease earning interest as of this coming June. The U.S. Treasury Department has provided an online search tool Treasury Hunt®, to find out if there are any non-productive Savings Bonds lurking in your past that can be turned into cash.
- When was the last time you reviewed your financial plan? Have there been changes in your life that may affect your goals and your risk tolerance? Click to schedule a review of your existing plan.
Objective, Independent Financial Planning Advice
Troy Smith is a Certified Financial Planner™ professional, serving clients in Raleigh, North Carolina and throughout the Triangle. He offers fee based financial planning on a "Pay as You Go", hourly basis or ongoing financial planning for a quarterly retainer fee as opposed to a percentage of investment assets under management. The retainer fee is based on the scope of the engagement, the type of advice needed, and considers a client's total financial picture.
Personal Financial Planning
Troy M. Smith, CFP® offers a wide range of fee based financial planning and wealth management services under an hourly financial advice basis or a flat fee financial advice basis:
A Financial Adviser That Grows With You
Your circumstances and your financial and life goals change over time. Assets are adjusted, hard assets depreciate, and your income tax and estate situation is always dynamic.
We offer an integrated system of financial planning and wealth management to adapt to your current financial needs; monitoring the status of your financial independence along the way.
We are dedicated to improving the lives of our clients; investing the time necessary to learn about the reasons driving your financial planning desires, yet remaining independent in order to offer sound, objective advice.
If you are on a retainer fee engagement you receive continuous updates on the status of your financial world in the form of reports so you may watch your wealth evolve. Flat fee financial planning clients also have direct access to Troy Smith by phone, email, or personal consultation and advice without hourly charges.
Expert Advice that You Can Depend On
Troy Smith is a wealth manager that holds the designation of Certified Financial Planner™.
The firm is an off shoot of a multi-generational family owned business, Troy works with his brother Decker Smith along with Kevin Hopkins in Raleigh. Troy's father Gary, and brothers Brady and Bridger operate a separate Investment Advisor business in Southern Pines, North Carolina, Tax-Deferred Retirement Planners, which was founded by Troy and is owned by Brady Smith. The two firms are in constant communication and provide clients the comfort that, should something happen to their financial planner, the continuity of their financial world can be maintained.
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Media Coverage of Troy M. Smith, CFP®
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Troy is a member of the following organizations:
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