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The Importance of a Fiduciary Standard


Woodside Wealth Management is a fee-only, Registered Investment Advisor (RIA). As such, we have always acted in a fiduciary capacity for our clients. That means we are legally required to act in our clients' best interests. Furthermore, we act as a fiduciary at ALL times and when dealing with ALL types of accounts (retirement as well as non-retirement).

RMDs - What You Need To Know



If you have a 401(k), a 403(b) or a Traditional IRA you probably know that you are required to take distributions from those accounts around the time that you reach age 70 1/2. But when exactly does the distribution need to occur?

Why We Use DFA Mutual Funds



The Wall Street Journal recently published a great article about Dimensional Fund Advisors (DFA) on the front page of its Money& Investing section and we have added it to our Learning Center because it is great to see DFA getting the good press it deserves.

Changes to 60 Day Rollover Rules


Generally, the IRS requires that any rollover from an existing 401(k) or IRA to another IRA be accomplished within 60 days. This 60 day limit was established to prevent abuse – it was thought to be more than enough time for someone to move an account but not so much time that large numbers of people would resort to doing a rollover just to have access to their money for other purposes.

FAFSA Application Now Available On October 1st


In years past, if you were applying for financial aid, January 1st was an important day on the calendar. That was when the window for filing the Free Application for Federal Student Aid (FAFSA) opened. This year, though, the window opens 3 months earlier - on October 1st. And filing the form should be easier as well.

How To Get Penalty-Free Withdrawals From An IRA


If you have an IRA, you know that there is a 10% penalty imposed if you take a distribution before you turn 59 ½. But did you know that there are some exceptions to this rule? Here are a few of the most common situations where the penalty is waived:

Personal Excess Liability Coverage Check-Up


Do you have a dog? A teenage driver? Rental property?

If the answers to any of these questions is yes, you should look into the amount of personal excess liability coverage you carry. Your homeowners policy typically provides some level of coverage but that level may not be sufficient if you have certain “exposures” like:

· Owning a swimming pool

How Did Your 2015 Roth Conversion Work Out?


It's tax time, so if you converted a traditional IRA to a Roth IRA in 2015 you now have a good feel for what the tax bite will be. If the tax owed is higher than you were expecting and the Roth account has declined in value, you still have the option of "unconverting".

April 1st Is An Important Financial Date

Did you turn 70 1/2 in 2015? If yes, and you have not yet taken your first Required Minimum Distribution (RMD) from your IRA(s), April 1st is an important date for you. That is the date by which you must take your 2015 RMD. Many people think the deadline is April 15 but that is incorrect.

Popular Tax Breaks Extended Indefinitely


One very popular tax break is the ability to take money out of your IRA and donate it directly to a charity. People who took advantage of this option would satisfy their Required Minimum Distribution (RMD) and the distribution would not be taxable. Those two features made the option very popular.

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