Journey Asset Management

09/14/2026

I've encountered a surprising number of people who file Married Filing Separately (MFS) even though they could file Married Filing Jointly (MFJ).

Sometimes it's intentional. Other times, especially with military couples from different states, it's simply a two-minute snap decision to make the tax return software happy.

The problem? That decision can get expensive.

You may lose or limit college tax credits, the Child and Dependent Care Credit, the Earned Income Tax Credit, the student loan interest deduction, and even your ability to contribute to a Roth IRA.

The tax brackets can hurt too. In one simple example from the article, a married couple with one spouse earning $100,000 and the other not working would pay about $7,640 filing jointly versus $13,170 filing separately — roughly 72% more.

That doesn't mean MFS is always wrong. There are some legitimate reasons to consider it, including certain student loan situations.

The important thing is that it should be an informed decision, not just a way to make the software work.

https://gojourney.biz/married-filing-separately-mfs/

07/16/2026

Trump Accounts (also known as 530A accounts) are officially here—but are they actually a good option for your child?

These new investment accounts allow families to begin saving for a child before the child has earned income (up to $5,000 a year). Eligible children born from 2025 through 2028 may also receive a one-time $1,000 federal contribution.

The potential benefit is straightforward: starting early provides many additional years for investment growth.
The rules, however, are not quite as simple.

Contributions are generally made with after-tax dollars, while growth is tax-deferred. Once the child becomes an adult, the account begins operating under Traditional IRA rules. That creates several planning considerations:

• Should the money remain invested for retirement?
• Would a future Roth conversion make sense?
• Could conversion income trigger the kiddie tax?
• Would a 529 be more appropriate for education expenses?
• Is locking the money away until adulthood consistent with the family’s goals?

For an eligible child, claiming the $1,000 federal contribution deserves serious consideration. Whether additional contributions make sense depends on what the money is ultimately intended to accomplish.

I break down the benefits, limitations and planning opportunities here:

https://gojourney.biz/trump-accounts/

This material is provided for informational purposes only and is not intended as individualized investment, tax or legal advice.

07/16/2026

Took me a bit, but finally finished overhauling my website. Take a look and tell me what you think!

Financial planning and investment management for military members, medical professionals, public servants, inheritance and families.

03/30/2026

Let’s talk about inherited Traditional IRAs — because this mistake is costing service members real money.

When someone passes away, their Traditional IRA can transfer to a beneficiary. Under today’s rules, most beneficiaries must empty the account within 10 years. There are different ways to do that, but one thing never changes:

📌 Every dollar you withdraw is taxed as ordinary income.

Two weeks ago, a junior Sailor came to me with an inherited IRA he received two years ago. For simplicity, let’s say it was worth $100,000 at inheritance.

Here’s the issue:

He’s a junior Sailor, a nuclear pipeline student — meaning his effective tax rate is often around 6%, sometimes even lower. Those are prime years to take controlled withdrawals.

But his advisor — from a very large, very well‑known firm — had him take nothing for two years. The account just grew. No tax planning. No bracket‑fill strategy. No understanding of military pay, bonuses, or reenlistment timing.

Now he has to unwind this under worse conditions:
• Higher pay
• Bonuses
• STAR reenlistment
• Fewer low‑tax years left

If he had worked with someone who understands military pay structures, we would have:

👉 Maximized withdrawals during his lowest‑income years
👉 Skipped the STAR reenlistment year
👉 Emptied the account strategically over the first 5 years

Total taxes paid: ~$15,000

If he followed the “do nothing until year 10” approach?

Taxes owed at the end: ~$52,000

Same Sailor. Same inheritance.
The difference? A 30‑minute conversation with someone who actually understands your military pay.

That’s a $37,000 mistake avoided simply by getting the right advice.

01/08/2026

This isn't rare. A recent Vanguard study revealed something surprising — and expensive.

Hundreds of thousands of Americans are making costly mistakes simply because they’re navigating retirement rules without guidance.

Vanguard found that 6.7% of IRA investors who were required to take an RMD didn’t take one at all. Scaled nationally, that’s roughly 585,000 people missing a mandatory withdrawal each year.

And the consequences are steep:

• IRS penalty: Up to 25% of the amount not withdrawn
• Estimated total penalties: Up to $1.7 billion annually
• Repeat errors: 55% of people who miss an RMD once miss again the next year

This isn’t about RMDs alone — it’s a reminder of how easy it is to make costly mistakes when managing retirement accounts without support. The rules change often, and the penalties for getting them wrong can be significant.

If you want clarity, structure, and confidence in your retirement plan, I’m here to help you avoid the pitfalls that catch so many people off guard.



https://corporate.vanguard.com/content/corporatesite/us/en/corp/articles/how-costly-are-missed-rmds.html

01/07/2026

Now that we’re in the New Year, it’s a great time to review some of the changes that may affect your retirement planning—starting with Roth accounts.

• Roth IRA contribution limit:
The new annual maximum is $7,500, which breaks down to $625 per month for those aiming to maximize tax‑free withdrawals later on.

• TSP Roth conversions:
The TSP now allows rollovers from Traditional to Roth. This is a powerful tool, but it comes with major tax considerations.
When you convert, taxes are NOT taken from the TSP itself—you must pay them separately. Before initiating any rollover, make sure you fully understand the tax impact or sit down with a financial professional (preferably me!) to review your situation and avoid surprises.

• Catch‑up contributions for those 50+:
The rules changed significantly this year, and they’re more complex than most people expect. Depending on your income, you may be required to make catch‑up contributions as Roth instead of Traditional—and the income calculation for this rule is different from the one used for regular contributions.
If you’re in this group, I highly recommend working with a financial planner to make sure you’re following the rules and optimizing your tax strategy.