Newman Asset Management Blog

This weekend the kids and I spent some time watching “It Might Get Loud,” a documentary by Davis Guggenheim featuring guitarists Jimmy Page of Led Zeppelin, The Edge from U2, and Jack White of White Stripes. For a guitar fan, it was fascinating, educational, and just pure fun to watch three masters share their craft and knowledge. As I watched, I also came to realize that it had key points we can all use in business, investing, and life in general. (more…)

More on the 401(K) Scam – Making Your Own Lifelong Income Streams on the Del Walmsley Telephone system Show.  – excellent thoughts in general, but the math is a bit misleading. There is a better way… (more…)

Go to our new site page, “Client Videos” and see BG Patel talking about his 4th multifamily investment!

Newman Asset Management worked with BG and his investment team on structuring the partnership, and the setup, use and structuring of self-directed IRA’s in the deal. Both self-directed IRA and IRA-LLC owners participated in this investment. Come visit us and we will show you how to do the same thing.

Beginning January 1, 2010, the income and filing status requirements for rollovers (including conversions) to a Roth IRA was eliminated. Additionally, for rollovers to a Roth IRA in 2010 only, a special 2-year option for exposure taxable parts of your rollover apply.

Under the new rules, regardless of your income or filing status, you can roll over (convert) the following to a Roth IRA:

• Your traditional individual retirement arrangement (IRA), SEP IRA or SIMPLE IRA, and self-directed IRAs;
• an Eligible Rollover distribution (ERD)- For example, a 401(k) or a 403(b) plot; or
• an Eligible Rollover from a retirement plot for which you are a beneficiary (from deceased family limb, for example).

For rollovers and conversions to a Roth IRA in 2010 ONLY, you have the option of exposure the taxable part of your rollover in your yucky income for 2010, or exposure half in 2011 and half in 2012.

Previously, to roll over to a Roth IRA, both of these requirements needed to be met; your modified AGI was less than $100,000 and your filing status was not married filing separate.

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