"Michael Kitces" is an American financial planner, commentator, speaker, and educator. He frequently contributes to industry publications, publishes a blog and newsletter for advisors, is the practitioner editor of the Journal of Financial Planning, and is a partner in a financial advisory firm.

Born and raised in the suburbs of Washington, D.C. He earned a Bachelor's in Psychology from Bates College in Maine with a minor in theater, and subsequently earned a Master's in Financial Planning from The American College (Pennsylvania) and a Master's in Taxation from the University of Tulsa.

He is a partner in Pinnacle Advisory Group.

In 2004, Kitces helped to co-found NexGen, a community group for younger financial planners.

In 2012, he became the Practitioner Editor of the Journal of Financial Planning, after spending many years on its Editorial Review Board.

Kitces has been profiled by Financial Planning magazine, and his research on safe withdrawal rates, asset allocation glidepaths in retirement, and determining sustainable retirement income based on market valuation has been cited by The Wall Street Journal, The New York Times and Money (magazine).

More Michael Kitces on Wikipedia.

The typical issue with people who have sudden wealth is that they don't know how aggressive or conservative they need to be in order to reach their goals. Some people think $1 million means they can spend an extra $100,000 a year for the rest of their lives, and that's a dangerous road to go down. The good thing is that Steve doesn't seem raring to do that.

150

For folks who are in the 15% or 25% tax bracket, it may not be a bad idea to pay those taxes now and never have to worry about what tax brackets might become in the future.

143