As Rob Burnette, an MRFC and chief executive officer of Outlook Financial Center in Troy, Ohio, explains, "Robo-advisors are only useful for the investment part of a financial plan."
“Don’t shout your win from the rooftop,” Rob Burnette, financial and investment adviser at Outlook Financial Center in Troy, Ohio, said.
Wealthier investors, however, can still access these accounts indirectly through a backdoor Roth IRA. "This strategy gives a workaround for the Roth IRA income restrictions," says Rob Burnette, a financial adviser and tax preparer at Outlook Financial Center in Troy, Ohio.
To answer your questions about RMDs, Barron’s spoke with Steven Denton, wealth manager at Merit Financial Advisors, and Rob Burnette, chief executive and financial advisor at Outlook Financial Center.
"People would rather have their refund on time. If you've got $3,000 or $4,000 coming, an extra couple hundred bucks is not going to do much," said Rob Burnette, a financial adviser and CEO of Outlook Financial Center in Troy, Ohio.
To rebuild some financial security, Rob Burnette, a financial advisor and CEO of Outlook Financial Center based in Troy, Ohio, advises clients to start with a month-to-month financial plan, laying out income and expenses.