Did you know that your retirement years are often accompanied by large capital gains tax bills?  Do you know if you have the proper strategies in place to help reduce the damage that capital gains taxes can have on your portfolio?  If you’re not sure you’re doing all you can to save big on your capital gains tax bill, then this episode is for you.

In this eye-opening episode of The Year You Retire podcast, hosts John Bever and Jim Uren delve into the intricacies of capital gains taxes and the strategies you can use to help to minimize their impact. They discuss the definition of capital gains, the difference between long and short term gains, how capital gains are taxed, and the steps you can take to help reduce your annual tax bill.  John and Jim’s actionable insights and friendly demeanor will give you a deeper understanding of how to manage taxes in retirement and allow you to make better informed financial decisions along the way.

In this episode, you will be able to:

• Uncover the workings of capital gains in the U.S. tax system and how to determine the potential size of your tax bill.
• Discover smart strategies to help minimize capital gains tax and keep more of your investment profits.
• Understand how the type of investment account and the type of investment asset can change the amount of your tax bill.
• Learn about the benefits of tax loss harvesting and how it can optimize your retirement portfolio.
• Discover how charitable giving may be able to eliminate the capital gains tax on certain assets.
• Understand income tax brackets and how to leverage them to help minimize your retirement tax liabilities.

 

The key moments in this episode are:
00:00:42 – Introduction to Capital Gains Taxes

00:02:29 - History of Income Tax in the US

00:08:17 – Realized vs. Unrealized Gains and Losses

00:11:54 - Long Term Capital Gains Tax Rates

00:15:19 - Understanding MAGI (Modified Adjusted Gross Income)

00:17:02 - Strategies to Avoid Capital Gains Tax

00:21:18 - Special Rules for Different Assets

00:25:08 - Key Strategies for Reducing Long-Term Capital Gain Taxes

00:29:43 – Episode Conclusion and Hosts’ Gratitudes

00:31:16 – Disclosure and Disclaimer Information

 

Transcript:

Jim Uren: This is The Year You Retire podcast for people who want their first year of retirement to be right on the money. Your hosts are me, Jim Uren and John Bever, CERTIFIED FINANCIAL PLANNER™ professionals with Phase 3 Advisory Services. Retirement is one of the happiest times of life, but getting the most out of it requires you to be properly prepared.

Listen along as we explore the financial topics, tips, and strategies that will help you make your first year of retirement your best year yet. Now let's get planning.

Are you wondering how to lower your income tax bill? Are you confused by the rules of the ever changing capital gains tax? What qualifies anyway as a long term capital gain? And do you know how to take advantage of the lower tax on certain capital gains? Or are you confused about how all of this fits into your financial plan?

Well, keep listening and you'll find out the answers to these questions and more.

Welcome, John. Good to see you at this episode.

John Bever: Yeah, it's good to see you. These are a lot of fun. Enjoying going into these topics. And speaking of this topic, why do you like this topic of capital gains taxes, Jim?

Jim Uren: Well, unfortunately, whether we like it or not, when we think about retirement, this is a big issue. A lot of your retirement expenses are likely to go to capital gains taxes, but unlike some of the other taxes, as we'll get into, you've got some flexibility on how you manage these. And, this is one area where we can actually potentially save quite a bit of money, isn't it, John?

John Bever: It is. And it's something that we can actually plan around. So some things we just can't plan around. They just happen. But this is something that we actually have a little bit of control over as financial planners.

And I tell you, one of the things I like is that this ends up being able to stretch the portfolio lifespan of people's money because they're paying less taxes. So if we can reduce your lifetime income tax, that means more money for you. And if done right, can result in less taxes paid over your lifetime.

Think of this as, I like the phrase, “disinheriting Uncle Sam.” One of my favorite phrases when it comes to taxes.

Jim Uren: Yes, I like that phrase too. But we've not actually always had an income tax here in the United States, have we, John?

John Bever: No, we haven't. And this brings us to quiz time. So here's the quiz. When was the personal income tax introduced to the U. S. population? Four choices:

1. 1883
2. 1909
3. 1913
4. 1934.

I wish we could get audience response on these. It would be very interesting. There's actually two correct answers, Jim.

Jim Uren: Okay. What are they?

John Bever: Well, the Amendment was put in, in 1909, passed by Congress.  However, it had to be ratified by a majority of the states. So while the bill was passed and the amendment was passed in 1909, it was not ratified by the majority of states until 1913, because states had to go through their own process of either accepting or rejecting the amendment. And this became the 16th amendment to the U.S. Constitution, and it allowed Congress to “Collect taxes on income from whatever source.”  Kind of ominous.  A little ambiguous there, right?

Jim Uren: Yes,

John Bever: So Jim, question for you, do you know what percent of the population paid that income tax at the beginning?

Jim Uren: I don't. That's a good question. I'm guessing they passed it by saying very few would pay it.

John Bever: Yeah, and I knew it was small too, but I didn't know how small.  Less than 1%.

Jim Uren: Wow!

John Bever: Yeah.

Jim Uren: So it’s that, let's get the top 1%, but actually, most of us will end up paying it because I think we're probably closer to 50% or more now pay taxes at the federal level.

John Bever: Yeah, I think there's been a little creep here.

Jim Uren: Quite a bit.

John Bever: And here's the interesting thing since we're talking about long term capital gains taxes, long term capital gains back then were actually taxed at your current bracket. There was no special tax rate because it wasn't that many people that paid the tax anyways.  So just go ahead and have it be part of that income from whatever source.

Jim Uren: Interesting, interesting.

Okay. So before we go over the basics, why don't you just start off, John, with the real basic of, what are capital gains?

John Bever: Good question. So a capital gain is the increase in value of your investment or property. It is not calculated on the entire account. So like if you have a brokerage account that has stocks and mutual funds and ETFs and bonds, it's not calculated on the entire account. It's each individual holding. So that's what we first look at.  It's the gain on that position,

Jim Uren: And so then what is the capital gains tax?

John Bever: Right. So the tax is a special tax on the gain you realize from the sale of certain assets, which includes stocks and bonds and mutual funds and ETFs, real estate, collections, precious metals, cryptocurrency, and all sorts of other assets.  But the gain is the difference from your cost of purchase and the sales proceeds.

And again, it's what's realized.  You actually realize when you sell.  And if it's a real asset, like a collection or a real estate, you increase your cost of purchase by the improvements that you make to the original.

Jim Uren: But not all accounts are actually subject to a capital gains tax. So John, what accounts are subject to capital gains taxes?

John Bever: Yes. So let's start with what's not subject to, because it's a little bit easier to say it that way. Basically any qualified retirement accounts and annuities are not subject to capital gains tax because what goes on inside the account is not taxable. It's when the money leaves the account that that tax is levied.

So that leaves with what we call non-qualified accounts, which would be accounts registered, registered to you as an individual, jointly, even if it has a transfer on death instruction on it, accounts that are registered to a trust, a business, and that really covers the majority of accounts that would be covered by this tax.

Jim Uren: And if you are subject to a capital gains tax, when do you pay this tax, John?  Is this something we have to do every year?

John Bever: Fortunately, not yet. It has been discussed as a possibility when they talk about the wealth tax, but right now the way that it is taxed is when you realize. Again, it's when you realize. So, you have to sell something in order to be subject to the tax. So, you pay it in the year that the gain or loss is realized. And it is triggered in the year you sell an investment or asset.  And until you sell the asset, it's considered an unrealized gain or loss and no reporting is required.

Jim Uren: So what happens if you don't have a gain, but you actually have the opposite, John, and you have a loss?

John Bever: Well, if you realize a loss, you can claim that loss on your tax return. And what you do is you add up all your realized gains. And all you realize losses for the year. And if you have a net loss, once you net those together, then you are limited to using only $3,000 of the net loss each year. And what is not used is carried forward to the next year.

So we actually have some clients that come to us with some fairly large realized losses.  And they can use that to offset gains for many, many years. And on top of that offsetting the gains actually capture an extra $3,000 loss on their tax return that can go to reduce other income. But again, whatever is not used is carried forward to the next year if it's a capital loss.  And so the loss is not lost. Again, that's the loss is not lost.

Jim Uren: So what happens if it is a gain? How does that work?

John Bever: Okay. So another step. Now you separate your long term gains from your short term gains. Long term gains get special treatment.  And long term is more than a year. It is a year and a day. So if you sell and it is exactly a year or less, then it is considered short term. But as long as it is a year plus a day, it is considered long term.

Now, short term gains are taxed as ordinary income. Long term gains are taxed at a lower rate.

Jim Uren: And so certainly long term gains from a tax standpoint are better. But why don't you explain to our listeners what is meant by ordinary income?

John Bever: So ordinary income, not whatever source as the 16th amendment states.  This is a specific class of income called ordinary income. And it's what's taxed at your highest brackets. And so this includes wages, taxable interest, withdrawals from pre-tax retirement accounts and pensions, the taxable portion of Social Security benefits and short term capital gains.  Those are considered ordinary income. There are some other pieces, but those are the majority. And ordinary income is taxed according to the income tax brackets.

Jim Uren: Which, of course, begs the next question, John, how do the tax brackets work?

John Bever: Yeah, it's really not that complicated. So here's how it works. Think about cascading pools. You've got a waterfall that's going over and it pours into a pool and then that pool fills up and then that pours into another pool and then that one fills up and pours down into another pool. Each one of those pools are tiers of tax rates.

So in that first pool, as the water cascades into the first pool, that's not even taxed. That's like the standard deduction or your itemized deduction. You don't pay tax on that.

And pours into the next pool. Now you start paying tax. So if you're single, the first $10,000, if you're married, the first $20,000 of income is taxed at a lower rate than your last dollar earned.  So it's that last pool that's your highest bracket or what's called the marginal bracket.

And with that first pool you really want that thing to be filled up if you're going to be in filling up higher pools later on. And the size of the lake or the size of the pool varies every year because there is inflation.  And so far with the IRS and Congress, they have chosen to expand the size of the pool, expand the size of the bracket for inflation.

Now, current brackets 10%, 12%, 22%, 24%, 32%, 35%, and 37%. And there is a hidden top bracket that's almost 43% at present. And actually, I remember when I started in the industry, top bracket was 70%.  How's that for a top marginal bracket?

Jim Uren: That really incentivizes some serious tax planning. That's for sure.

John Bever: And there was a lot of tax planning back then. In fact, almost nobody paid at that rate.

Jim Uren: Yes. And of course they squashed those rates, but also squashed a lot of those tax programs. But that that's a different topic, I guess.

So obviously it's preferable if given the choice to pay a long term capital gains tax versus an ordinary income tax. So why don't you explain a little bit how the long term capital gains taxes work?

John Bever: Right. Okay. So think about these pools again, and you're pouring water into these pools. Okay. And, and we're going to separate out the gains in that pool. We're going to have those gains flow into their own separate pool. So that separate pool of capital gains is taxed at a lower rate than your ordinary income tax rate.

So if you're in the 10, or the 12% brackets, or if you happen to be listening to this after the current tax law sunsets, which is a maybe, yes, maybe no, you'd be in the 15% bracket. Well, capital gains are not taxed in the 10% or 12% or 15% brackets.

After that, you start to pay a tax.  If you're in the 22% bracket to the middle of the 32% bracket, then your long term capital gains rate is 15%. So imagine the difference between paying tax at 32% versus 15%. That's a big difference. That's a big, what we call tax Delta, which is really helpful, which creates what we call tax alpha gives you some benefits.

And there's an interesting thing that right now qualified dividends are also treated under the same treatment as long term capital gains. So in those lower brackets, not only are your long term capital gains tax-free, but also your dividends are also. 

Now, if you're above that 32% bracket, then the capital gains rate peaks out at 20%, which is one of the lowest long term capital gains rates we've had in the history of taxation. And it's not exactly the 32% bracket. It's kind of in the middle of that bracket. And so you definitely want to be planning with your tax advisor if you're planning around that bracket.

Jim Uren: And of course, as you alluded to John, the actual dollar amounts of these brackets do change over time, often with inflation or tax law changes. But could you give us an idea of what those current dollar amount levels are currently this year?

John Bever: Right. So here we're talking about taxable income. This is after your deductions.  For a single taxable income under $47,000 is generally going to be in the zero long term capital gains rate.  And for joint filers $94,000. $47,000 single, $94,000 joint.

Now, the 15% long term capital gains rate kicks in for a single between $47,000 and $519,000.  And for joint filers between $94,000 and $584,000.  So there's a lot of room here for the vast majority of Americans to take advantage of this long term capital gains tax. And again, above the top level, the tax is generally 20% on long term capital gains as most people would be listening to this. There are some other complexities that do come in with certain assets.

Jim Uren: Now, many of our listeners, John, are also subject to IRMAA, which we've talked about on some of our prior podcast episodes. How does this affect the IRMAA calculation for those who are retired?

John Bever: Yeah. So you don't want to just consider the long term capital gains rate in and of itself and plan for that because it does impact other things. IRMAA is income related monthly adjustment amount. It's the extra premium you pay for Medicare if your income goes above certain levels.  And long term capital gains, add in to that income level. 

The extra premium is calculated on what's actually called your MAGI. It's your modified adjusted gross income. You have to actually add some things back in, take some things out for this modified adjusted gross income. So realized losses reduce your modified adjusted gross income and realized gains add to your modified adjusted gross income.

However, remember this, if you realize a gain because you needed money, well the basis of the sale does not affect your modified adjusted gross income. Only the gain. So if you need some money for purchase of a car and you have a choice of taking it out of your IRA or selling a stock that is in your joint account, you might want to sell the stock in your joint account to raise the cash because the full amount won't be taxable as it would be in your IRA.

Jim Uren: Right. So you could withdraw $10,000, but that may only generate a $1,000 in a capital gain tax. Versus like you said, if you withdrew the ten grand from your IRA, that's a full ten grand that's going to be taxable.

How do these gains and losses also affect something we've talked about in prior episodes; the Social Security tax torpedo?

John Bever: Yeah, well, it's adding income so it is going to bring additional Social Security income onto the tax return, but we're not going to go into the details now. But again, the gains and losses do affect your modified adjusted gross income.

By the way, it's a little different calculation for this as opposed to IRMAA, but we won't go into that because that's more pages of the tax code, but be sure to watch for a future podcast on the Social Security tax torpedo.

Jim Uren: Yes, we've got one in the works that we're planning.

And so John, here's the big question, is there a way I can avoid the capital gains tax? Give us some good news.

John Bever: Yeah, sure. So if the choice is pay a tax or not pay a tax, I think I'd want to not pay the tax. If it's pay a tax at a high bracket or pay a tax at a lower capital gains bracket, I'll pick the lower capital gains, but wouldn't it be nice to just say, let's just be done with it altogether.

Well, It's an easy answer, Jim.  Just don't realize the gains.  Don't sell anything. So you can do this by holding onto the investment or asset and then pass it on to your heirs. So never sell. 

Under current tax law, your heirs receive the asset with what's called a step-up in basis. When they sell the asset, they get to report their cost or original purchase price as the value on the date of your death.  So, the heirs get that benefit of all that appreciation that doesn't get taxed that occurred during your lifetime.  So, the gain or loss, that's the sales proceeds less the stepped up basis. So if they sell it pretty quickly, there might not even be any capital gain or a very minimal capital gain.

And here's the interesting thing, it is considered a long term capital gain even if they sell like two days after you pass on, if that were possible.  It is considered a long term capital gain if your purchase date was longer than a year and a day from the time that your heir sells that asset. This is very effective for things such as family farms and real estate holdings that might have significant dollar taxable gains.

Jim Uren: Yes, that step up in basis is a really nice feature in the tax code. One that we hear grumblings about every year that they might get rid of, but so far, it's still an option.

So, explain, John, what happens, because sometimes assets are given away before death. What happens when someone gives away an asset with a capital gain to somebody else while they're still alive?

John Bever: Yeah, so the recipient of the gift retains the original owner's tax basis, that original purchase amount. So this usually does not make sense unless the recipient is in a lower tax bracket. And that's why some of our clients will use gifts of shares or stocks or funds to give to their grandchildren or their children for college or other expenses because the recipient is in a lower bracket.  So there's less tax drag. There's actually more net money that goes to the recipient after taxes.

Now, this is not a good idea if the child or grandchild qualifies for financial aid for college. Additional planning has to be done there.

But there is another living gift that eliminates the long term capital gains tax altogether.  Gone. If you give appreciated investments or property to charity, there's no tax when the charity sells it. It's a non-taxable entity. In addition, you get the deduction for making a charitable contribution, which you would get anyways if you gave cash, but you avoid the long term capital gain on your tax return.

And the contribution value is the market value on the date of the gift, not your cost basis, but the market value on the day you gift it. But only if it is a long term gain. And again, long term is a full year and a day.

So this is a reason to hold your stocks and growth funds in your non-qualified brokerage account.  So you can get long term capital gains treatment and potentially use it as a charitable gift and avoid the tax altogether or hold it till death and have it go to your heirs income tax and capital gains tax free. And again, what kind of account it has to be held in a non-qualified retirement account.

Jim Uren: Yes, a very powerful strategy. And if you are charitably inclined and do give to charity, I would encourage you to check out our podcast episode number seven, which was “Getting the Most Out of Your Charitable Giving.” That'll give you a lot more information on this and some other strategies that you may find helpful.

Now, overall, John, this actually sounds relatively simple. Is there anything that. Anything else that we need to be looking out for?

John Bever: There is 60,000 pages of tax code so there's got to be something in there. Yeah. The concept is straightforward, but the details get complicated for certain situations. Okay. So what are the simple ones to think about? What's your filing status at the end of the year? If you're filing status changes, that's an issue.

So, for example, going through a divorce. Your status is going to go from joint to single. That could have an effect. You might want to work with the other party and maybe decide to sell some things.

Second issue is a phantom income from mutual funds. Now, phantom income from mutual funds is a real interesting concept here.  Mutual funds pay dividends, but they also pay out long term capital gains. You have no control over this. This is based on what's happening inside the fund itself with their buying and selling. And oftentimes these are not distributed or announced until the end of the year when you have almost no time to deal with it.

So that's something to watch out for. It can create a complication on the tax return. You can think you've got everything all figured out and then boom, your mutual fund that's held in a non-qualified account makes a nice big long term capital gain distribution.

Jim Uren: That's always fun, isn't it?

John Bever: No

Jim Uren:   And to complicate things a little bit further, I mean, the idea overall of the capital gains tax is fairly straightforward, but one of the challenges is that it's not the same rules for every type of asset. For example, real estate has some special rules when it comes to capital gains that can affect homeowners.

Would you please give us a quick rundown on those rules, John?

John Bever: Yeah. So there's a nice goodie for those that own your primary residence. The long term capital gains on primary residences are generally not taxed. The first $250,000 of gain for singles and the first $500,000 of gain for married, that is actually tax free on your income tax return.

Now, there's a couple rules about this.  The most important one is the two out of five rule. You have to have lived in that home as your primary residence for at least two years out of the last five.

Now, if it's not your primary residence, personal property, but not your primary residence, then you're going to pay long term capital gains, again, assuming it's been more than a year and a day from purchase to sale.  You are going to pay a long term capital gains on that secondary or third or fourth residence if there is a gain.

Rental real estate has different rules because in rental real estate you've been taking depreciation and you have to recapture that accumulated depreciation first, before calculating your long term capital gains.  You do get long term capital gains treatment, but not on the depreciation.  For the depreciation, you actually have a tax that maxes out at 25%.

Small business stock has special rules. We won't go through that right now. And also remember collectibles, such as Art, non-fungible tokens (NFTs), antiques, gems, stamps, precious metals, all these have their own long term capital gains rate of 28%.

Jim Uren: Excellent. So it is important to one, know first the type of account in which you're investing because that affects your capital gains.  But two, the type of asset in which you're investing, because that can come with its own set of capital gain rules. And so it's important to be up on all of these things.

We've covered, obviously, a lot of ground today, John, and hinted at some ways to use part of the tax code. What are some explicit strategies that people can take advantage of when it comes to long term capital gains?

John Bever: Right. So we've talked about losses and the usefulness of losses. So one strategy is to make sure that you're doing your annual tax loss harvesting. If you have a position that is at a loss, you can sell that position, capture that loss for your tax return. Now you can buy the position back, but you have a 30-day delay before you can buy that position back.

Or you could buy a similar position and still have exposure to the market that you want. But that tax loss harvesting is really useful, especially if you have a high capital gain’s gain. You can find some losses to offset those gains or just grab some losses to offset your ordinary income. Again, limited to $3,000.

Another one is long term capital gain harvesting.  Not harvesting losses, but actually harvesting gains. So if you're in a 0% long term capital gains bracket, which would be, let's say the 10 or the 12% bracket, or maybe the 15% bracket, then you can actually harvest some of those gains and they won't be taxed.  Maybe in future years, you'll be in a higher bracket.

Another strategy is to gift assets that have long term capital gains and gift those to charity. You can give them also to your heirs. If you give it to charity, you're going to get the charitable deduction on top of that and not have to pay tax on the gain.

Holding onto assets with gains and passing those onto heirs is another strategy. Again, we have to be careful with this because money might be necessary for end of life expenses. So it takes some special planning for that.

Another idea here is to generate income from long-term capital gains. And because dividends are right now taxed at the same rate as long-term capital gains using dividends and long-term capital gains for some income in retirement can be very useful.  We wouldn't want to count on those gains years down the road, but if you have them, can be a nice way to set aside some money for future years of withdrawals.

Another important thing though to consider in terms of strategy is what we call asset placement. We'll be talking about this in another podcast, but specifically just for this moment, you want to maybe hold your bonds and interest bearing positions in your pre-tax accounts, because that always gets treated as ordinary income, but hold your growth and your dividend paying investments in your non-qualified accounts.  That way, what's actually happening is you're able to take advantage of the long term capital gains rate. If you hold those investments in your IRA, for example, you're going to lose the long term capital gains treatment, and you're going to turn all that gain into ordinary income.

And then as it turns, as it relates to Roths, it really depends on how you're using your Roth IRA in terms of how you want to utilize that.  But again, you don't get long term capital gains treatment in your Roth IRA, but you have totally tax free treatment from your Roth IRA. So it's not a bad idea to hold your stocks and mutual funds that are for growth inside your Roth IRA. But you won't receive any long term capital gains treatment because there is no tax on the Roth IRA.

Jim Uren: Excellent. So those are a number of strategies that someone can use to help minimize their lifetime payment of long term capital gains taxes. And there's actually more flexibility there than there is in some of the ordinary income taxes that we have to pay. So that makes it a nice option to use some of those strategies to reduce your tax bill.

And of course, it's also, uh, a good reason why often working with a very knowledgeable CPA or financial advisor can be very helpful because it's not uncommon that there are some strategies that could be used that are not currently being used that may reduce your tax bill. So always helpful to get the opinion of a professional.

So that pretty much wraps up our discussion on the capital gains. And so our next segment we usually go into is our gratitude segment. But before we do that, John, I do want to just mention what's coming up on our next episode.

So on our next episode, we're going to be tackling the question, “Should I pay off my mortgage before I retire?” Now, this surprisingly can be a pretty controversial topic, but one that everyone does, yes, absolutely need to decide for themselves. So be sure to tune in to our next episode so you can find out what is maybe the best answer for your particular situation.

So John, tell me, what is it that you are thankful for today?

John Bever: Well, I have to tell you, I am thankful for flowers and plants that bloom year after year after year.  Those perennials where we don't have to go buy new ones and put them in the ground. We just saw some of our flowers blooming and it's really nice to have those just come up year after year.  Plus it makes everything look a little bit more lively and bright.  So actually I'm, I'm thankful for flowers and plants that bloom year after year.

Jim Uren: Excellent. And I was going to say something similar. I like this time of the year where the warming trend is up as we get ready to enter the summer. And as we're planning our trips for the summer, I find it a fun time to think about those upcoming adventures and warmer weather and being able to be outside a little bit more than we've, we've been able to.

John Bever: Yeah. Isn't it great being in the Midwest where we get these seasons, Jim? So we can really appreciate the spring and summer when it comes around.

Jim Uren: Absolutely. One, one of the perks, one of the perks. Well, thank you all so much for tuning in to this episode of The Year You Retire podcast.  For show notes and/or a transcript of this episode, please visit our website at phase3advisory.com/podcast. That's phase3advisory.com/podcast.

Thanks again for listening. And don't forget to tune into our next episode.

Disclosure: The views expressed in this podcast are not necessarily the opinions of Phase 3 Advisory Services or Osaic Wealth and should not be construed directly or indirectly as an offer to buy or sell any securities or services mentioned herein.  Unless otherwise specified, show guests are not securities licensed or affiliated with Phase 3 Advisory Services or Osaic Wealth.   Investing is subject to risks, including loss of principal invested. Past performance is not a guarantee of future results.

No strategy can assure profit nor protect against loss. Please note that individual situations can vary. Therefore, the information should only be relied upon when coordinated with individual professional advice.  Securities offered through Osaic Wealth, Inc. member FINRA/SIPC.  Additional investment. and insurance advisory services offered through Phase 3 Advisory Services Limited, a Registered Investment Advisor.

Osaic Wealth is separately owned and other entities and or marketing names, products or services referenced here are independent of Osaic Wealth. Phase 3 Advisory Services is located at 1110 West Lake Cook Road, Suite 265 in Buffalo Grove, Illinois 60089. Our phone number is 847-520-5545. For additional information, visit our website at phase3advisory.com.