Money, taxes and insurance · 10 guides
Financial Advisor: problems and fixes, explained by Joe
Joseph W. (Joe) Roppolo is the only financial advisor member of BNI Preston Center. These guides are written for a Dallas–Fort Worth reader who has the problem right now: what is happening, what to check, when to call, and what it costs.
- What a managed investment account is, what it costs, and who it actually fits A managed account means a professional runs an agreed strategy for you in exchange for an ongoing fee based on the account's value. Here is how it works, what the fee covers and how to tell whether it fits you. In plain terms: you choose the strategy, a professional runs itWhat actually happens inside the accountHow the fee is charged, and what it does and does not coverManaged account or brokerage account: the honest comparison
- What a 529 plan can pay for, and where the money goes if college never happens A 529 plan covers more than tuition, and leftover money is not trapped. Here is what counts as a qualified expense under IRS rules, and the four things you can do if your child takes a different path. The short answer: more than tuition, and leftover money is not trappedCollege costs that count as qualifiedK-12, apprenticeships, credentials and student loansWhere families slip when they take money out
- Two kids, a mortgage, scattered accounts: putting a working family's savings in order Most families I meet are not careless. They are busy, and the decision about which account gets the next dollar keeps sliding to next month. This is the order I walk them through, from the emergency fund to the college account. The short answer: which account gets the next dollarWhy your accounts never seem to add up to a planStep one: cash you can reach without a penaltyStep two: the employer match, then the expensive debt
- Traditional IRA or Roth IRA: how to tell which one fits your situation The choice between a traditional and a Roth IRA comes down to paying tax now or later, and sometimes the IRS income limits make it for you. Here is how to work through it with the current rules. The short answer: pay the tax now, or pay it laterHow each account is taxed, side by sideThe 2026 contribution limits, straight from the IRSWhen your income makes the decision for you
- One income, two IRAs: how a stay-at-home spouse saves for retirement A spouse who stays home can have an IRA of their own, funded from the household's earnings. Here is how the IRS rule works, how much a one-income couple can put away and what to check first. Yes: a spouse with no paycheck can still have an IRAWhy the IRS lets a non-earning spouse contributeHow much a one-income couple can put awayTraditional or Roth for the spouse at home
- Saving for college in Texas: prepaid tuition, 529 savings plans and what to fund first Texas families have more than one state-run way to save for college, and they work very differently. Here is how prepaid tuition and 529 savings plans compare, and why I ask about emergency savings and retirement before the college fund. The short version for Texas parentsWhat Texas offers through the statePrepaid tuition: locking in today's prices529 savings plans: flexibility with market risk
- SEP, SIMPLE IRA or 401(k): picking a retirement plan for a small business Three plans cover most small businesses, and each one fits a different kind of owner. The right choice depends on who you want to contribute, how predictable your profits are and how much paperwork you will tolerate. The quick way to tell them apartFour questions to answer before comparing plansThe SEP: simple and flexible, but only the employer pays inThe SIMPLE IRA: employees save, the employer matches
- Opening a Roth IRA on your own: when it works and when help pays for itself Opening a Roth IRA takes less time than most people expect. Deciding whether you qualify, what to put inside it and how it fits the rest of your plan is where a little guidance can matter. Yes, you can do it yourself, and many people shouldWhat a Roth IRA is, in plain termsCheck whether you can contribute before you open anythingOpening the account takes an afternoon
- Before you hand anyone your savings: the questions to ask a financial advisor A good first meeting with a financial advisor should feel like an interview you are running. These are the questions I would ask if I were sitting on your side of the table, and what the answers tell you. Seven questions cover most of what you need to knowWho are you licensed with, and in what capacity?Check the record before the second meetingAsk how they are paid and what you will pay
- An old 401(k) from a former job: what a rollover involves and how long it takes An old 401(k) is easy to forget and surprisingly easy to move, as long as you choose the right kind of rollover. Here is what happens at each step and where the delays and tax traps usually hide. What actually happens, in two sentencesYou have four choices, not oneWhy cashing out is usually the expensive choiceFirst, find every account you have left behind