Blog
Welcome to the Didion Wealth Management Blog.
Here you'll find various posts to help you understand some of the most relevant topics when it comes to tax planning, retirement planning, investing, risk management and more.
Check back regularly for new posts.
-Michael
Disability Insurance: What it is and Why you need it.
Disability insurance is critical in protecting one of your most important assets; your ability to earn an income. Yet few understand what it is, why they need it and the risk they're taking by not having it.
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What's in the One Big Beautiful Bill Act (OBBBA)?
"The One Big Beautiful Bill Act", aka OBBBA, passed in July of 2025 is arguably one of the biggest, and most anticipated, tax bills since the Tax Cuts and Jobs Act (TCJA) in 2017. Here's what you need to know about what's in the bill.
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What's True Wealth?
True wealth isn't money, assets or material things. It's something far more important. Something that lasts a lifetime and potentially for generations to come.
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How is your Inherited IRA taxed?
Inheriting an IRA is a blessing but it comes with many factors to consider, especially when it comes to taxes. Before you make any decisions you need to know how your inherited IRA is taxed.
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What's the best strategy for social security?
Choosing the right strategy for social security is an important piece of retirement planning. If you don't know your options you may accidently make an irrevocable social security benefit election that can negatively impact your retirement.
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What you need to know about your 401k when you leave your company.
If you've ever had a job with a 401k and then left that company, then you need to know what options you have with that old 401k so you can make the best financial decision for one of your largest assets.
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What taxes do you pay in retirement?
Deciding to retire, or at least make work optional, is one of the biggest decisions, as well as accomplishments, of your personal and professional life. Ideally you've saved enough between 401ks, IRAs and investment accounts and you...
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How are your RSUs taxed?
RSUs are a popular form of equity-based employee compensation and it's important to understand the taxation of RSUs so you can plan accordingly and avoid surprise tax bills. In this blog, I go over the basics of how RSUs are taxed.
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2024 Denver Broncos Season Recap
One thing that you may not know about me is that I am a huge NFL football fan. And specifically, I am a huge Denver Broncos football fan.
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Lesser known feature of the 401(k) and 403(b) retirement plans
A Hidden Gem of 401(k) and 403(b) plans that you need to know For those nearing retirement, there’s often an overlooked feature of their 401(k) or 403(b) plans that could provide crucial financial flexibility for you: the ability to...
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What happens if you contribute to a Roth IRA but make too much money?
It's a scenario many high-income earners unexpectedly face: you’ve been diligently contributing to your Roth IRA all year, but as the end of the year approaches, you...
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IRS Releases 2025 Inflation Adjustments for retirement account contributions and more.
2025 Tax Updates: What You Need to Know About New Contribution Limits and Tax Rates As the year draws to a close, it’s time to start thinking ahead to 2025. Every year, the IRS adjusts tax brackets, retirement contribution limits, and...
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How the IRS Pro Rata Rule impacts your Backdoor Roth IRA
How the IRS Pro Rata Rule Impacts Your Backdoor Roth IRA Contributions. As a higher-income earner, you’re probably always looking for smart ways to save for retirement, especially when it comes to minimizing taxes. One strategy that...
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Your 2 Biggest Expenses in Retirement
If you overlook these 2 expenses in retirement you are exposing yourself to a huge risk.
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What's Your Risk Number?
Everyone has a Risk Number whether they know it or not. Your tolerance for market volatility is unique. We use a risk assessment built upon a Nobel Prize-winning framework, and you can do it yourself in just a few minutes. It’s free...
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Didion Family Camping Trip Summer 2024
Making time to spend time with your family, especially if you have young kids, is arguably the most important thing you can do as a parent. Here I share a little about our family's time spent camping this summer in Colorado.
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Common Tax Mistakes the Self-Employed Make and How to Avoid them.
Being self employed can be both rewarding and lucrative. However, there are common pitfalls and mistakes you need to avoid to make sure your business is on track and keeping more of its revenue. Here are some of the most common mistakes.
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Can you do a 401k if you are Self-Employed?
The 401k is one the most well known, and most heard of, retirement accounts. Almost every major company offers them as a retirement benefit to their employees, and most employees have come to expect 401k plans as part of their overall...
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What is the Backdoor Roth trick?
You've probably heard about the Roth IRA and how you should have a one in your portfolio. But what do you do if you can't directly contribute to a Roth IRA if you make too much money?
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Is 30% enough to put aside for taxes as a business owner or independent contractor?
Why the "30% for Taxes" Rule Doesn't Always Work for New Businesses. When you start a new business, you might hear the advice: "Set aside 30% for taxes." While this might sound like sound advice, it's actually quite lazy.
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2024 NFLPA Joint Conference
Late last month I had the opportunity to attend the 2024 NFLPA Joint Conference of Agents and Financial Advisors. As an NFLPA registered player financial advisor I was excited for the invitaiton to attend the conference. For those that...
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Why you shouldn't invest in real estate in your IRA.
If you have an IRA chances are you have heard from someone, somewhere along the way that you can, and that you SHOULD, invest in real estate inside your IRA. The truth is that you can invest in physical real estate inside your IRA, but...
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First Ski trip of 2024 with my kids.
Greetings and hope everyone is having a blessed start to the New Year. Something that is important to me is to spend meaningful time with my kids. It's easy to let life take hold and to lose track of time, so I like to be intentional...
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Debunking some myths about Dividends
Costco, a giant in the retail industry, recently made waves by declaring a special cash dividend of $15 per share. This move sparked discussions and, in some cases, confusion among financial advisors and enthusiasts. The topic of...
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Is a Roth IRA or Traditional IRA better?
The age-old debate between Roth IRAs and Traditional IRAs continues to perplex many, and it's not hard to see why. Traditional IRAs offer a tax deduction now on the contributions, tax-deferred growth while the money is sitting in the...
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Roth Conversion vs. Backdoor Roth
It's a topic that often leaves even the financially savvy scratching their heads - the difference between Roth Conversions and Backdoor Roth Contributions. These strategies hold the key to helping high-income earners tap...
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How much of your social security is taxable?
This is a topic I've emphasized time and time again, and it's one that often elicits a chorus of understanding nods: taxes. We all know they're a part of life, but here's the thing – taxes can be your single most significant...
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How does a Roth conversion work?
A popular tax planning strategy today is the Roth Conversion. And it's no surprise why. Roth IRAs offer tax-free withdrawals if the account has been open for 5 years and you are over age 59 1/2. Roth IRAs also let you invest in a...
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What Can You Do with Your Old 401k?
What to Do with Your Old 401(k) from a Previous Employer: Exploring Your Options for Your Old 401(k)
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Which is better, a 401k or Roth IRA
I get asked this question a lot, "Which is better for me to use, a 401k or a Roth IRA?" In this week's blog I wanted to take a little time to answer that question.
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When a Husband Dies, does his wife get his social security benefit?
You may be going through a very uncertain time right now after your husband, or wife, passed away.It can be very overwhelming and emotional. You are certainly dealing with a flood of emotions and uncertainty and you may be wondering...
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What is the self-employment tax?
There are many taxes that we must navigate and deal within today’s world. There is the income tax, property tax, capital gain tax and estate tax to name a few. But if you are self-employed there is another tax that you need to be...
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What is Tax Planning?
What is tax planning? I recently came across a CPA that made a post on LinkedIn that said, “tax planning is not about eliminating taxes. I’d rather have someone pay tax than buy an asset they don’t need...
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Do you know how to use capital gains and losses?
When you have a taxable investment account, also known as a joint account or individual account, you can realize capital gains or capital losses for a given tax year. How does this happen? Well, if you are selling any of your...
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Mutual Funds Vs. ETFs. What's the Difference
I’m sure you have heard about mutual funds. Mutual funds have been around as an investment vehicle in the US since 1924. However, have you also heard of another popular investment vehicle, the Exchange Traded Fund (ETF)? ETFs...
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Can I work while on Social Security?
Many people in retirement want to work a part time job while in retirement. They may want to do this for various reasons, such as wanting or needing the income, working for the health insurance benefits before Medicare kicks in or...
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Taxes and 529 Account Withdrawals
529 accounts can be advantageous and confusing at the same time. Especially when it comes to withdrawals and any potential tax consequences if your child doesn't go to college or doesn't need to the funds for college.
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What is a Roth IRA?
A Roth IRA is one of the most powerful wealth management tools available. Read the latest blog to learn more about this powerful tool.
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When Can A Pilot Retire?
When can a Pilot retire? And, what can you do in retirement once you're no longer in the cockpit?
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Hope this Pilot Had Some Life Insurance
Here, I share a story of why it is imperative to do some Wealth Management Planning...for the sake of your loved ones.
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Things to Consider when Paying off Debt
So you're considering paying off some debt, or need to pay off some debt...read this first.
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Top 3 Mistakes Most Investors Make and How to Avoid Them
Here are my Top 3 Mistakes Most Investors Make, and more importantly, how to avoid them.
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To rent or to own? That is the question!
Have you ever thought about renting versus owning? If you have, you're not alone and here are some things to consider.
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