News from Norma

 

The snow is behind us and spring has sprung! All of us are glad to see an end to the winter of 2010. George and I were one of the lucky ones who spent some time in Florida in January and February. Although we came home to a lot of snow, our neighbors and friends had our driveways plowed and were awaiting our arrival.

 The market has slowed but still shows signs of improvement. The “double dip” that a lot of economist expected, hasn’t occurred yet. In fact, it seems as though it might not occur at all.
 
We’ve talked a lot in the past about the difficulty in timing the market. And this appears to be another instance where if you came out and didn’t get back in, you sold low. If you adjusted your sectors’ weights and hung in there, you may have been able to recoup a lot of what was lost.
 
Now that the health insurance reform has been passed, we can see the handwriting on the wall. HIGHER TAXES! As we review your portfolios, we must look at what has changed, and what the future might bring. We also need to look at whether or not you should take advantage of the changes in the rules about the Roth IRAs and if you should convert all or part of your traditional plan this year.
 
Finally, my family is well. The grandchildren are fine, and I have another grandchild on the way. My daughter, Chrissy, surprised us when we arrived home from Florida with the news that we are expecting our fifth grandchild in August of this year.
 
Finally, as always, THANK YOU for your business and support. Please let me know if there is anything you need, and don’t forget to pass our name along to anyone you feel could benefit from our services.
 

Norma

 (Updated 5/6/2010)

If converting a Traditional IRA to a Roth IRA, you will owe ordinary income taxes on any previously deducted Traditional IRA contributions and on all earnings.  A conversion may place you in a higher tax bracket than you are in now. Because Roth IRA conversions may not be appropriate for all investors and individual situations vary we suggest that you discuss tax issues with a qualified tax advisor