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Thank you for your kind comment. I appreciate it!

Thank you for your question. The exact price will be determined based on complexity, assets and income. While we prefer to work with clients who will stay with us over the long-haul, clients can cancel anytime after working with us for at least 12 months. There are no cancellation fees. Please let me know if you have any other questions.

Nobody knows anything; You need to create your own process, manage risk, and stick to the plan, through thick or thin, While also continuously learning from mistakes and improving.

Uncertainty... it took me 5 years to stop trying to predict what bout to happen in market based on charts studying, cause you never know. not having a mentor cost me 5 years of pain I learn to go we’re the market is wanting to go and keep it simple with discipline.

Could you kindly elaborate on the advisor's background and qualifications?

“NICOLE ANASTASIA PLUMLEE’’ is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.

Just ran an online search on her name and came across her websiite; pretty well educated. thank you for sharing.

Yeah, they can be a bit confusing at first. The main difference is that an HSA is tied to a high-deductible health plan (HDHP), and you can roll over the funds year after year. An FSA, on the other hand, is usually a “use-it-or-lose-it” deal, where you have to spend the money within the plan year.

That’s right. I learned the hard way a few years ago when I didn’t use all my FSA funds and lost a chunk of money. Since then, I’ve switched to an HSA, and I love that I can carry the balance over. Plus, the funds in an HSA can be invested, which is a nice bonus.

I’ve been using an HSA for a while now, and I agree-it’s a great option, especially if you’re healthy and don’t have a lot of medical expenses each year. The tax benefits are also better with an HSA since contributions are tax-deductible, and withdrawals for qualified expenses are tax-free.

Both FSAs and HSAs have tax advantages, but the flexibility of an HSA is what sets it apart for me. I’ve been able to build up a decent amount in my HSA over the years, and I feel more secure knowing it’s there for future medical expenses, or even as another way to save for retirement.

If you know you’ll use up the funds in a year, an FSA could work well. But if you’re thinking long-term and want the option to save and invest, the HSA might be the better choice.

Thank you!

To convert the stocks you already have in a traditional IRA to a Roth IRA through a backdoor Roth IRA process, follow these steps: 1. Evaluate Your Current Holdings: Review the stocks you currently hold in your traditional IRA. Consider whether you want to keep them or sell them during the conversion process. 2. Determine Tax Implications: Understand that converting from a traditional IRA to a Roth IRA is a taxable event. You will owe taxes on the amount converted, based on the current market value of the stocks. This means if your stocks have appreciated, you’ll pay taxes on those gains. 3. Decide on Conversion Method: You can either: a) Convert the stocks directly into a Roth IRA, keeping the same holdings (called an "in-kind" transfer). b) Sell the stocks in your traditional IRA, convert the cash to a Roth IRA, and then repurchase the stocks in the Roth account. 4. Execute the Conversion: Work with your IRA custodian to convert the desired amount from your traditional IRA to a Roth IRA. Specify whether you want to convert your holdings in-kind or as cash. 5. Plan for Taxes: Prepare to pay the taxes due on the conversion when you file your income tax return for the year. It might be wise to consult with a tax professional to estimate your tax liability and to consider making estimated tax payments. If you are interested in a comprehensive financial plan, including traditional IRA recommendations, please schedule a free discovery call with one of our financial planners - districtcapitalmanagement.com/join-the-waitlist/

I grew up in New Zealand :)

Very cute. Good day to you!

@@Lionheart7190 You too!

Thanks for sharing your perspective! It’s true that personal finances can often feel restrictive, even with what others may consider a substantial net worth. If you’re feeling restricted, it might be worth exploring new strategies or financial goals that could provide a greater sense of freedom and satisfaction. Have a great week Ivan!

Thanks for sharing your perspective! You're absolutely right-cost of living can vary so much depending on the region. What might be considered 'wealth' in one area could be far from it in places like Southern California or the Bay Area, where housing prices and expenses are significantly higher. It's a great reminder that financial situations can be very different based on where you live.

Thank you! Doing your research now is a smart move. When the time comes, working with a reputable financial advisor can help ensure you make the best decisions for your situation. Wishing you the best with your settlement and future investments!

Absolutely! Past performance isn't always a predictor of future results. Diversification and careful planning are key to navigating that uncertainty!

Great question! To access the Mutual Fund Window in your TSP account, make sure you're eligible by meeting the minimum balance requirements and that your account is up to date. You should be able to find the option under the 'Investments' or 'Manage Investments' section once you're logged in. If you still don't see it, you may need to contact TSP support for assistance. They can help guide you through the steps to access it.

Yes, I would recommend that you look at the most up to date HSA FSA qualified expenses list. Here is a good overview: www.cigna.com/individuals-families/member-guide/eligible-expenses Have a great day!

Thank you very much for your kind comment. Here is the URL for you - www.mynyable.org/ Have a great evening!

@@DistrictCapital Thank you so much for the information. Can I withdraw all money from an able account at a time if I need to buy a house?

​@@sdglobal Sorry, we are unable to give you specific financial advice. However, if you contact NY Able they will be able to help you - clientservices@mynyable.org Thanks!

If I cannot convert entire account balance and convert up to the limit (7,000). $100 remaining in traditional account, wouldnt this complicate the conversion in the next year because the account will contain both taxable($100+ capital gain) and non-taxable(amount already taxed on W2 that I will put in next year for roth ira conversion)?

@@ygko9620 you can covert the entire amount but you will have to pay gains on that 100$, that is what my fidelity person told me

@@ygko9620following

Thank you for your kind comment. Have a great week!

this is correct. As soon as the money clears in Traditional IRA, you can convert it to ROTH IRA. Usually the money clears in 24hrs. Don't need to wait for a couple or few months to perform the backdoor conversation

Thank you for your kind comment. Have a great day!

I'm so happy to hear how well you are doing. Well done. Have a great week!

Great question! You can only roll over the Roth IRA contribution limit for that year, so for 2024 that is $7k. Thanks!

@@DistrictCapital This wouldn't be a roll over... this would be a roth conversion... you can convert any amount to roth at any time any year... the 7k limit is the limit you can contribute to the traditional IRA in the first place... if that traditional IRA was invested in a penny stock that soar'd to a million dollars, you can convert that million dollars to roth ira without issue... this is elementary 101

No. Withdrawal from traditional IRA is taxable.