Springberg Wealth Management

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Springberg Wealth Management Established in 1973, we are a third-generation wealth management firm located in the heart of Lake Havasu City. Please see website for disclosures.

- We get questions about Roth conversions quite often. A Roth conversion typically involves transferring funds from a Tr...
10/16/2026

- We get questions about Roth conversions quite often. A Roth conversion typically involves transferring funds from a Traditional IRA to a Roth IRA.

- The benefit of this strategy is to take advantage of the tax-deferred growth and tax-free distributions provided by Roth IRA's, given you've reached 59.5 years old and your Roth has been open at least 5 years. The converted amount is not subject to the 10% early withdrawal penalty.

- There are also drawbacks. Any amount converted is fully taxable as income in the year it is done. This can affect your overall tax bracket, Medicare premiums and income-based benefits. Additionally, those under 59.5 should have enough cash on hand to pay the tax bill because any amount withheld for taxes on a conversion may be subject to the 10% early withdrawal penalty.

- Those who may want to consider a Roth conversion include:
1. Young investors with time to make up for the taxable event through investment growth.
2. Investors and business owners during a year that they are able to show minimal income and be in a lower tax bracket, therefore taking less of a tax hit on the conversion.
3. Young investors with high income looking to do a back-door Roth.
4. Older investors with a large pre-tax balance looking to leave behind a tax-free legacy for their heirs.

- Always remember to speak with your tax and financial professionals to see if this makes sense for you.

- Plan Startup Costs: Eligible employers may be able to claim a tax credit up to $5,000, for 3 years, for the ordinary a...
10/09/2026

- Plan Startup Costs: Eligible employers may be able to claim a tax credit up to $5,000, for 3 years, for the ordinary and necessary costs of starting a SEP, Simple IRA or qualified plan (like a 401k).

- Employer Contributions (Matching): Employers with 100 or less employees may be able to claim a credit for contributions made to employee accounts for the first 5 years of the plan.

- Auto-Enrollment Credit: Employers that implement an auto-enroll feature into their plan can claim a credit of $500/year for 3 years. This is available to new plans or existing plans that adopt the feature.

- Be sure to consult your tax professional regarding eligibility and amount for these credits.

- The Federal Reserve unanimously voted to raise interest rates earlier this month, but what does that mean for you as a...
10/01/2026

- The Federal Reserve unanimously voted to raise interest rates earlier this month, but what does that mean for you as an investor?

- Higher payouts on fixed investment products. Products that follow interest rates such as CD's and fixed annuities tend to increase their payouts when the Fed hikes rates.

- Lower bond prices. If you have bonds in your portfolio, then you may have seen the value of those bonds fall. Bond prices and interest rates have an inverse relationship.

- Higher debt costs. Higher interest rates means it costs more to borrow money whether it be auto loans, business loans or credit card debt.

- Rising rates affects many parts of the financial and economic environment. Working with a professional that can help you navigate it is important.

- Both accounts have the same intent of helping your child or grandchild get a head start financially, but which one you...
09/23/2026

- Both accounts have the same intent of helping your child or grandchild get a head start financially, but which one you should do entirely depends on the goals in mind.

- 529 plans are tax-advantaged investment accounts primarily designed to fund education expenses including universities, community colleges and vocational schools. Contributions are made with after-tax dollars, and investment growth and distributions are generally tax-free when used for qualified expenses such as tuition, room and board, books, computers and more. If money is used for non-qualified expenses, the distribution is taxable plus a 10% penalty.

- UTMA accounts do not come with the same tax advantages, but also do not have restrictions for how the money is spent as long as funds are used for the benefit of the beneficiary. Additionally, the money becomes property of the beneficiary once they reach the age of majority in their state (21 in AZ).

- As always, it is recommended to speak with a professional to see which one works best for your situation.

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10 Acoma Boulevard S, STE 102
Lake Havasu City, AZ
86403

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