“An investment in knowledge always pays the best interest.”

The Way to Wealth: Ben Franklin on Money and Success ― Benjamin Franklin
My company’s website is  www.WealthProtectionManagement.com
Prestigious Award Received

Lili was recently honored to receive The 2018 Albert Nelson Marquis Lifetime Achievement Award by Marquis Who’s Who for demonstrated leadership, excellence, and longevity within the financial planning industry. This is one of the highest distinctions available through Marquis Who’s Who.
Wealth and Investments

Lili launched Wealth Protection Management to address unique and specific challenges faced by women in investing. She is focused on common needs of her clients: desire to preserve wealth while maximizing value to cover lifetime expenses. As an independent Registered Investment Advisor, a Five Star Wealth Manager for 8 consecutive years and the Women’s Choice Award recipient, Lili has developed and offers 2 investment models with expert third party managers: (1) for clients approaching retirement, requiring income and seeking wealth preservation in this volatile market; and (2) for clients interested in growing wealth in line with Environmental, Socially Responsible, Women Empowering Investing with successful mutual fund industry leaders in this arena.  

Lili has created investment models designed to help clients achieve tax efficiency, specific income generation objectives and turn in market beating performance without sacrificing values.  

If you are uncertain about your wealth management and investments, Lili is pleased to offer a free objective assessment of your needs and goals to anyone with one million dollars or more to invest to help you determine your best portfolio based on your values. 
Maximizing Retirement Planning and Divorce
Lili is speaking to several professional organizations this year on what they should address with every client going through divorce on the cusp of retirement. Coined the “gray divorce” trend, Lili identifies 9 key items that she covers thoroughly with each client. Contact us for a consultation to learn more about what you should be planning for in your new life
Download your FREE Guidebook! Based on Lili's years of experience, gain from her tips and wisdom!

Lili's Recent Interviews

Looking ahead to the next phase of life can seem pretty dreadful if you can’t stand the person who you’ll be spending it with. The surge in late-in-life — or “gray” — divorce is one possibly unintended consequence of the so-called longevity bonus.

Divorce has become a tax strategy game with no clear direction. The new tax law eliminated the taxation of alimony - but this is only the tip of the iceberg of the impact on many financial decisions for divorcing couples.

Half of widows see their income drop by 50%. Don’t be one of them. When your spouse passes away, you don't have to struggle financially.

Tax Questions

Sources: Ed Slott & Company: America’s IRA Experts; Fidelity; Finance Zacks.com

I am required to take my first Required Minimum Distribution (RMD) from my IRA this year. Could I do it by converting that amount to Roth IRA to satisfy the requirement? 

The key word in required minimum distributions (RMDs) is the word “required.” The RMD funds cannot remain or return to any retirement account once they are distributed. In addition, a Roth conversion is treated as a rollover for tax reporting purposes and an RMD cannot be rolled over. When you have an RMD that is due, you generally have two options: (1) take the amount into income; or (2) donate it to a charity using the qualified charitable distribution rules. The second option allows you to exclude the RMD from your taxable income but is only available to RMDs from IRAs.  

Question: What is the deadline to take my RMD?

The deadline is December 31 each year. For your first distribution, you get a 3 month extension until April 1 of the following year you turn 70 ½. The same generally holds true for 401K plans and other qualified retirement plans. If you are over 70 ½ and still working, you can delay your RMDs from your 401K plan until after you retire.

Can I open an IRA if I'm retired?

The Internal Revenue Service restricts individual retirement account ownership to those with earned income. Social Security, pension, annuity and disability payments do not qualify under IRS rules. Investment income does not qualify either. Wages, commissions, salaries and tips, in addition to taxable military pay and alimony, are considered earned income.

After age 50, you can put no more than $6,500 per year in your IRA(s). As regards contributions, the IRS sees all IRAs as one IRA. So if you have two IRAs, you can, for example, contribute $4,000 to one and $2,500 to the other. In addition, you can contribute no more than you earn. If you earn only $3,000 doing part-time work after retirement, for example, you can contribute only $3,000 that year. Because of the age 70 1/2 rule, you have only the number of years until you turn 70 ½ years to contribute to an account.

Stay tuned for more adventures I hope to undertake as a speaker, practitioner and program guest on more podcasts and radio!


Lili Vasileff