Bernath & Rosenberg, P.C.

10/21/2026

The more complex your finances become, the harder it can be to keep everything organized.

Statements, tax forms, insurance documents, beneficiary information, and passwords can add up quickly. One simple approach is to keep important documents in one secure place, organize them by category, use a password manager, and maintain a master list of your accounts and key contacts.

Then, once or twice a year, review everything and update anything that’s changed.

10/19/2026

What Happens If You Miss an RMD?

Missing a Required Minimum Distribution can be costly. The amount you failed to withdraw may be subject to a 25% excise tax, although that can drop to 10% if the mistake is corrected within the IRS correction window. IRS

If you realize you missed an RMD, take action quickly. You may also be able to request a waiver if the shortfall was due to a reasonable error and you’re taking steps to correct it.

Have questions about how RMDs could affect your retirement income or taxes? Schedule a conversation with the Bernath & Rosenberg team to review your plan and the rules that may apply to you:

Looking for a trusted and reliable financial advisor in New York? Turn to the professionals at Bernath & Rosenburg P.C. for all your financial needs!

10/15/2026

We’ve posted about what an RMD is, now let’s talk calculations.

Your Required Minimum Distribution is generally based on two things: your retirement account balance as of December 31 of the previous year and an IRS life expectancy factor.

The basic calculation: divide the prior year-end balance by the applicable life expectancy factor. As you get older, that factor changes, which can increase the amount you’re required to withdraw.

10/14/2026

This month, we’re diving into Required Minimum Distributions (RMDs).

We’ll cover when they start, how they’re calculated, and what happens if you miss one.

Required Minimum Distributions (RMDs) can catch retirees off guard.

As of 2026, most people must begin RMDs at age 73. That age increases to 75 for younger generations under current law.

RMDs generally apply to traditional IRAs, 401(k)s, and similar retirement accounts, while Roth IRAs don’t require RMDs during the original owner’s lifetime.

Because these withdrawals can affect your taxable income, it helps to plan ahead.

10/12/2026

We’re often asked, “Can I retire with $1 million? What about $3 million—or even more?”

The answer is: it depends.

Your retirement number needs to reflect the life you want to live. What does your ideal retirement look like? What do you want to spend your time doing? Are there travel plans, family priorities, charitable goals, or other expenses you want to account for?

Then there are taxes, healthcare costs, and the question of how you’ll turn your savings into a retirement paycheck.

A retirement plan can help bring all of those pieces together so you can better understand what your number looks like.

10/08/2026

Not all assets are distributed through your will. Accounts such as IRAs and 401(k)s, life insurance policies, and some forms of equity compensation may pass according to the beneficiary designation on file.

If it’s been a while since you reviewed yours, especially after a marriage, birth, death, or other major life change, take a few minutes to check them and update anything that no longer reflects your wishes.

10/07/2026

Employers often offer a company match as part of their retirement plan benefits, but are you taking full advantage of yours?

Check your current 401(k) contribution rate and see how it compares with your employer’s matching formula. If you’re not sure what your company offers, reach out to HR or review your plan details. A small increase in your contribution percentage may help you make better use of the match available to you.

10/06/2026

October is National Financial Planning Month, making it a natural time to check in with your financial advisor and revisit your financial plan.

Have your short- or long-term goals changed? Has anything shifted in your life, career, or finances? A conversation with your advisor can help you see whether those changes are reflected in your current plan and identify any updates that may make sense.

Request an appointment with our team to review your plan: bernathandrosenberg.com/contact

09/24/2026

We recently published a blog post on our site about the benefits your business may gain from hiring your child. But what about the benefits for the young person in your life?

It’s more than a paycheck.

A summer job can teach responsibility, dedication, and the value of hard work. It can also give them an early introduction to saving and investing and even a head start on retirement.

A child who earns income from a summer job may be eligible to contribute to a Roth IRA.

Some tips to help you get started:

• Make sure your child has legitimate earned income.
• Their Roth IRA contribution can’t exceed what they earned for the year.
• A parent or grandparent can provide the contribution, as long as the child has enough earned income.
• Keep good records of the income, especially if your child is working for a family business or earning money through babysitting, lawn care, or other side jobs.
• Starting young gives those dollars decades to potentially grow, and qualified withdrawals in retirement can be tax-free.

Their first summer job may only last a few months. The financial habits and retirement savings they start building from it can last much longer.

09/23/2026

If you asked your adult children what they would rather inherit, a $1 million IRA or a $500,000 taxable brokerage account, they might immediately say the IRA.

But is a larger IRA necessarily worth more than a smaller taxable brokerage account?

The answer might surprise you.

The value of what you leave behind isn’t always just the number on the statement.

Let’s talk about your assets, what you’d like to leave behind, and the potential tax implications for your children and grandchildren. Call us today: 212.221.1140