2018 Key Financial Data

The 2018 Key Financial Data card provides lots of great information to plan for the year ahead.  This can be a handy reference guide to help you think about and prepare for some of your big money decisions this year.  It provides important information on retirement, taxes, health care, college planning, Medicare, social security and more.   Click here for a printable version: Key Financial Data 2018.

I hope you will find this card useful.   As always, you can call me if you have any questions or concerns or would like more detailed information.


The New Tax Law: Changes & Planning Considerations

As you may know, the Tax Cuts and Jobs Act of 2017 is about to become law.
The attached AALU (a Washington D.C. underwriting organization) report outlines some insights that might impact your tax, investment and estate planning.  You can click here for this report.
For advice regarding your specific situation, please talk to a trusted accountant or CPA.
As always, you can call me if you have any questions.

Riverside Wealth Management Earns 2016 Women’s Choice Award

Riverside Wealth Management has once again earned the prestigious Women’s Choice Award for Financial Advisors. This award, earned from our outstanding commitment to female and family clients, was recently featured in USA Today.

The Women’s Choice Award recognizes advisors who provide the highest quality service to female clients and serves as a testament to our dedication to helping women and loving couples take the worry out of thinking about money and take control of their financial life.

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Key Financial Data 2016

Here is a handy cheat sheet to help remember important numbers for 2016. This reference card can help with your 2016 planning. It’s called the 2016 Key Financial Data card and it provides great information (minimums and maximums, rates and dates) for Social Security, taxes, health savings, Medicare, retirement, college planning and more. Click here for a larger, printable version: Key Financial Data 2016.

As always, you can call me if you have questions or concerns or want more detailed information. I think you’ll find this quick reference is a helpful resource.


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In the News

I would like to share this recent article highlighting Riverside Wealth Management, which appears in the July issue of  The Suit.  We are pleased to be included in this online business publication.

I hope you enjoy this magazine, which includes a little piece of Hollywood with a cover story on the colorful and varied career of Bo Dietl. He’s played many roles, including one as himself in the film The Wolf of Wall Street.

If we can help you or someone you care about, please contact me.


Our Disciplined Approach Earns Top Grade from Morningstar

Morningstar, a leading provider of investment research, recently issued a new Stewardship Grade for Dimensional Fund Advisors (DFA), one of our primary asset managers.  They received an A, the highest grade awarded.

DFA is one of the top ten largest asset managers in the U.S.   You may not have heard of them because they do not advertise or promote themselves at major golf tournaments, a common mode of visibility in the financial services industry.  One of their main goals for investors is to keep costs low.

DFA funds are not available directly to individual investors except when provided as an investment solution by a select group of independent investment advisors.  Riverside Wealth Management is proud to be qualified by DFA to offer these investments to our clients.
Please let me know if you have any questions.
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Chances are you know someone going through a divorce

A divorce can be extremely stressful and emotional. I know because I went through an ugly, expensive and painful divorce. Only about 3% of divorces actually go to trial and if the case does go to trial it will typically last about 3-5 days. I survived 28 days of trial.

A divorce can also be the biggest financial event of your life.

Because of my experience and knowledge of how the process works, I became passionate about helping women get an equitable settlement. I have advised many clients through a divorce and saved women millions of dollars. I have found most people think they are getting a fair and equitable settlement when in fact they are not.

Unfortunately, family law attorneys and judges are not financial experts and often do not know the tax implications and long-term financial impact of the division of assets. This can result in a huge imbalance of net worth just a few years after a divorce. Because I am a Certified Divorce Financial Analyst® (CDFA™) and have weathered my own storm, I do understand the divorce-related financial issues and can work with the legal team to help make good financial decisions.

Here are the 5 biggest mistakes made when divorcing.

  1. Thinking your lifestyle will be the same. A women’s net worth is generally much lower post-divorce than a male’s and with the prevalent “rehabilitative alimony” laws spousal support can go away in just a few years. Expenses are also often underestimated creating a perfect financial storm. I like to have clients think of it as having ½ the current income with twice the current monthly expenses. Going from a two-income household to one or from one income to none will have a major impact on your lifestyle.
  2. Keeping the family home. Many women are emotionally tied to the family home. It is important to separate the emotion from the true value of the asset and the expense of maintaining it. It is critical to get the house(s) appraised, because often what you think it is worth and what it is really worth (what it will sell for less selling costs and the mortgage) are vastly different. It is also important to understand the true costs of the monthly expenses and the costs of major repairs in the future.
  3. The appearance of a fair settlement. Most settlements appear fair on the surface, however many times the marital assets are not valued accurately. It is critical to understand financial aspects of each asset. This includes the current market and future market value, original cost and basis, transaction costs and tax implications to truly understand what you are getting or giving up. If not valued correctly someone may win and someone may lose big money. Projecting future net worth based on various property settlement and support scenarios also helps create a more equitable settlement for both parties. It is almost impossible to go back and alter the settlement after it is final.
  4. Relying on your attorney for emotional support. Divorce is emotionally difficult and legal fees can be expensive. Your attorney is not a “shrink” and you do not want them to be one. They are expensive and generally get paid by the hour. You will need to rely on your family and friends to get you through it.
  5. Giving up. The divorce process can be long, stressful, emotional and a costly process. Most women “just want it over” and don’t want to deal with the daily pain and conflict of dealing with their soon to be ex. Giving up often means giving in. It is important to understand the true impact on your lifestyle for many years in the future, as settlement decisions are often impossible to reverse once final. You need someone to make sure you don’t trade expediency now for a better lifestyle later.

If someone you care about is thinking about a divorce or is currently going through a divorce, please feel free to have them contact us.  We will be happy to see if we can help.


Key Financial Data 2015

Here is a very handy reference card to help with your finances for the rest of the year. It’s called the 2015 Key Financial Data card and gives you many of the numbers investors need on Social Security, taxes, health savings, Medicare, retirement, college planning and more. Click here for a larger, more detailed printable version: Key Financial Data 2015

Of course, you can always call me when you have questions or concerns or want more detailed information, but this quick reference can be very helpful in checking an assumption or marshaling your facts.

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Our asset managers, Dimensional Fund Advisors, were featured in Barron’s for delivering “outstanding results.”  

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Unknown Funds Beats Out JP Morgan

Our little-know, however big asset managers, Dimensional Fund Advisors, has jumped over JP Morgan to become the seventh-largest fund family for US-domiciled open-end mutual fund assets.  

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