b"The Bottom LineYEAR-END CHECKLIST2020By Mark Melkowski602-793-6493 or mark@eagleadvisorygroup.comH ello to all of you Americanyou move, but, in the future, your withdrawals will be tax- Make sure your beneficiaries are correct and up to date. patriots from Arizonafree. Remember that you cannot access Roth money until itThat would include your IRA, your trust, and all the Financial Services. Whohas been in the account for five years.designated beneficiaries on your non-qualified funds. would have ever dreamed thatAlso, be sure all your accounts have the proper title. This our country would have changed this much in such a shortInvestigate harvesting tax losses. This is a good time towould include your home, car, insurance policies, annuity period of time? We are definitely in a storm, and it will beevaluate the stocks you own that have gained and lostcontracts, etc. This is critical to ensure that all your assets a while before things settle down, if they ever settle down.money throughout the year. Get all your tax documentspass properly to the people you love. Our country will be going through many changes and we alltogether, its never too early to look at and evaluate what need to start preparing for what is coming. There are someyour tax liability may be.Dont overlook your plan to pay off debt and create a tax things we can plan to help ourselves, but there will be manystrategy. If you are ready for social security develop a strategy changes coming that we have no control over. Also, examine your current assets and what your goal isnow in case you or your spouse pass away. One other for your investments? Have you maintained the goals, orimportant issue is long-term care, how to manage and pay for Here are some tips and financial decisions you may want tohave you come up short? You might want to rebalance yourit. Todays cost is right around $280,000 for long-term care examine as we close out this year.assets and take a look at the Rule of 72. You know its notso consider developing a plan so that you can use tax-free what you make on your investments; it's what you keep anddollars to cover these needs. Be sure to create an income plan. If you have an IRA and you are past the age of 72, you maycan spend in retirement.Again it's not what you make on your assets its what you need to start taking your required minimum distributionskeep and can spend, examine how to ensure your income.(RMD). However, with the SECURE Act, you can bypassIf you are still contributing to your retirement plan and your RMD this year if you choose. Also, evaluate yourthey are matching, check to see if you can contribute more.At Arizona Financial Solutions we will explore all of these income and expenses. Look carefully at your tax status toTry to set a goal of what you would like to contribute overconcerns, and we can provide you a free Retirement Blueprint. see if you can increase your income and stay in the lowerthe next year, and whether it is 10 or 15 percent. If you areAt American Retirement Institute we can educate you on how tax bracket. If there is any way to lower your expenses, youover 50 years old, you can use the catch-up provision andto acquire your financial dreams, wants and desires so that can look at how you can ensure your income.contribute $19,500 to your 401K and $6500 to your IRA.in retirement you can S.W.A.N (Sleep Well at Night). I can be reached at 602-793-6493, email at mark@eagleadvisorygroup.If you are concerned about taxes this may be an excellentAnother item to check on is your investments and the feescom, and visit our website at www.arizonafs.com. I look time to look at converting all or part of your pre-tax balanceyou are paying. Can you reduce or eliminate those fees?forward to speaking and working with you. God Bless to a Roth IRA. You will pay the taxes now on the moneyTake a close look at your risk and use the Rule of 100, whichAmericathe land of the free and the home of the brave. will help determine your risk tolerance. 0%FINANCINGOR CASH BACK*EFFORTLESS VERSATILITYHurry into A to Z Equipment Rentals & Sales today!*Offer subject to change without notice. Subject to credit approval. Contact A to Z Equipment for all terms and conditions.Call, Text or Visit.Four Valley LocationsNorth Valley Central Phoenix East Valley West Valley15634 N. 32nd St. 4050 E. Indian School Rd. 1313 E. Baseline Rd. 803 E. Van Buren St.Phoenix 85032 Phoenix 85018 Gilbert 85233 Avondale 85323602-992-1150 602-955-5100 480-539-8700 623-925-020016 December 2020"