#Keefe Gorman Merrill Lynch

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Types of Kart Racing

Keefe Gorman serves as a wealth management advisor with Merrill Lynch Wealth Management. His primary responsibilities at Merrill Lynch include assisting institutions and individuals in effectively accumulating and distributing wealth. Keefe Gorman also enjoys mountain biking, water skiing, wakeboarding, and karting in his free time.

Karting is a popular motorsport involving races between drivers in small and open four-wheeled vehicles called karts. Popular worldwide as a professional and recreational activity, kart racing is often a stepping stone to more sophisticated motorsports. For those serious about competing in the sport, kart racing competitions are primarily categorized into sprint, speedway, and endurance races.

Sprint race competitions are a series of short races on road courses that typically last about 15 minutes. A sprint track can range in length from 400 yards to 1600 yards and is commonly used for FIA championships such as the Karting World Championship.

On the other hand, a speedway race is held on an asphalt or clay oval track, and consists of 10 to 20 laps. Speedway racing on clay tracks is frequently regarded as the most challenging type of kart racing, as it necessitates superior acceleration and outstanding corner handling skills.

An endurance kart race is a long-distance race on road courses 1.5 to 4 miles long. An endurance kart race can last from 30 minutes to 24 hours. The karts used in an endurance race are the fastest in karting, and frequently exceed 90 miles per hour.

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What Is the Top 1200 Financial Advisors in America List from Barron’s?

Keefe Gorman has worked with Merrill Lynch Wealth Management in Ithaca, New York, for over three decades as a senior consultant and managing director. At Merrill Lynch, Keefe Gorman helps individuals and institutions grow their wealth. He has received recognition from Barron's magazine as one of America's Top 1,200 Financial Advisors.

Since the early 2000s, Barron's has annually released America's Top 1,200 Financial Advisors list, which acknowledges the leading financial advisors from each of the 50 US states and the District of Columbia. Financial advisors must complete a 102-question survey to be included in the ranking. The survey asks questions on the assets they manage, the revenue they bring for their firms, the quality of the services they offer, their regulatory compliance history, and their philanthropic activities.

After verifying the data, Barron's selects the top 1,200 financial advisors from more than 4,000 submissions submitted by financial experts from large Wall Street firms to independent, smaller financial services companies. When ranking the financial advisors, portfolio performance is not taken into account. The Wall Street Journal and Barron's magazine print the final list of the Top 1,200 Financial Advisors in America, which is also accessible online at barrons.com.

Barron's aims to provide consumers looking for financial advisors with a good starting point to identify the top advisors to assist them in achieving their financial goals with their list. The list serves as a scorecard for those working in the financial services sector, highlighting the best and attempting to improve standards.

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How to Minimize Tax on Your Retirement Income

Saving for retirement takes years, and the accumulated figure can deceive you. Before planning and budgeting for the gross amount, factor in the incoming taxation, which will claim a significant part of your retirement savings, pension, Social Security benefits, and other forms of retirement income. Before looking into ways to reduce tax, you should first know what is taxable on your retirement income, focusing on when the taxation commences.

Retirement-designated income commences the day you retire, and thus, retirement-oriented accounts and financial tools like traditional individual retirement accounts (IRA), Roth IRA, 401(k), pensions, and annuities, among others, become taxable. Also, ensure you know your tax bracket to calculate the taxes and plan the retirement income planning. In the United States, the tax brackets range from 10 percent to 37 percent depending on the individual's or married couple's total retirement income.

One of the ways to reduce the taxes on retirement income is to live in a tax-friendly state. There is no direct retiree tax. The savings on tax encompasses incentives, exemptions, and discounts in different sources of income that may impact your total take-home amount. For example, New Hampshire does not tax retirement income but taxes interests and dividends from the income, while states like Texas, Washington, and Tennessee do not require a personal income tax. Illinois, Iowa, Pennsylvania, and Mississippi do not tax retirement income.

Relocating to tax-friendly states reduces the tax deductions, thus, more income for you. Different states offer varying incentives, so you should calculate the combinations with the most benefits depending on your status. For example, one state may favor a former armed forces member due to military retirement pay tax exemptions more than it would for a non-military retiree.

Consider investment re-assessment. An investment portfolio that worked when employed may prove ineffective after you retire. Engage a financial advisor to evaluate the previous tax reduction plan while preserving the principal. One way to reassess is through municipal bonds, whose interest is tax-free. Other favorable options include qualified dividends from United States public-traded companies.

Social Security benefits strategies can significantly reduce the taxes on the overall retirement income. Opt out of receiving the benefits until the age of 70 if you have another source of income. Opting out implies you don't pay any tax on the benefits, plus an allocation of credits to boost the monthly benefits during that opting-out period.

Note that the taxable portion of the security benefits depends on the number of other incomes; therefore, try to control the amounts. Limit the sale of securities to limit inclusion into an upper tax bracket and withdrawal from your Roth IRA. The latter refers to an account for retirement savings. Some financial advisers recommend withdrawing from the IRA during your 60s in small installments to distribute the tax liability over the years.

Also, to avoid paying taxes on the installments, instead of withdrawals, transfer the funds directly to an Internal Revenue Service (IRS) approved charity and request a written acknowledgment from the charity, similar to a charitable contribution. Alternatively, you can withdraw from the account when your income is lowest, for instance, before you start taking social security, for the lowest tax.

Other than deferring on withdrawing from an IRA, you can invest in a deferred annuity. It refers to a contract with an insurance company where the company pledges to pay you a regular income or lump sum at a future date. It differs from immediate annuities, which start paying immediately. The deferred annuities offer feasible solutions for retirees. However, the program attracts a 10 percent penalty if you withdraw when you are under 59 and a half.

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LLS Recommends Third COVID Dose for People with Blood Cancer

A Certified Financial Planner who draws on over three decades of experience, Keefe Gorman serves as managing director of investments at Merrill Lynch in Ithaca, New York, where he advises clients on various investment matters. In addition to his responsibilities with Merrill Lynch, Keefe Gorman supports several nonprofits, including the Leukemia & Lymphoma Society (LLS).

The Leukemia & Lymphoma Society (LLS) published an article in Blood Cancer Discovery recommending a third COVID-19 vaccine dose for people with cancer who have taken the first and second COVID-19 vaccine doses. The discovery adds to existing knowledge about the roles antibodies from COVID-19 vaccination play in slowing the progression of blood cancer. According to the report, roughly one-quarter of patients with blood cancer develop extra antibodies after receiving the first and second doses of the COVID-19 vaccine. With the third dose, odds of developing mRNA SARS-CoV-2 antibodies increase by 20 percent.

The study also highlighted certain types of blood cancer that yield few antibodies from the COVID-19 vaccination. These include non-Hodgkin's lymphomas and chronic lymphocytic leukemia. These cancers occur in the blood cells that produce antibodies - B cells - which explains why they suppress antibody production. While vaccination rarely produces antibodies that can improve their cancers, patients with these special types of blood cancers can still benefit from vaccination because of the resulting T cell development. T cells fight COVID-19 infection by eliminating the virus and preventing it from replicating (spreading) in the respiratory system.

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The Forbes Best in State Wealth Advisors List

Keefe Gorman works as managing director at Merrill Lynch in Ithaca, New York. Thanks to his repeated success at Merrill Lynch and accolades from his peers, Keefe Gorman received a spot on Forbes’ Best-in-State Wealth Advisors list for four consecutive years 2018, 2019, 2020 & 2021. Though Forbes publishes the Best-in-State Wealth Advisors list, the firm Shook Research compiles the data used to create it and the algorithm that ranks candidates. The pool of advisors originates from nationwide nominations from their companies, whether in insurance, a bank, or a related financial institution. Shook only considers advisors in good standing with at least seven years of experience, with some exceptions. At least half of an advisor’s assets must come from individuals, rather than companies. Shook calculates each nominee’s ranking using weighted, qualitative, and quantitative factors. Recommendation letters from their firm, testimonials from clients, and phone and in-person, onsite interviews, work alongside the total revenue generated and assets managed to create a holistic picture of the nominee’s worthiness. Shook also considers factors like advisors’ community involvement. Forbes publishes Shook’s list, which varies in size, in April of the given award year.

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Tea Talks with Professional Ski and Snowboard Pros

A managing director of investments at Merrill Lynch, Keefe Gorman draws on more than 35 years of experience in the financial services industry. Apart from his professional responsibilities with Merrill Lynch, Keefe Gorman is a Certified Professional Ski instructor with the Professional Ski Instructors of America. With more than 32,000 members, the Professional Ski Instructors of America and American Association of Snowboard Instructors (PSIA-AASI) is the largest training organization of its kind. As part of its commitment to ongoing education opportunities for ski and snowboard professionals, the PSIA-AASI hosts monthly “tea talks” to discuss current topics in the snow sports industry. During these free interactive webinars held via Zoom, education leader Stacey Gerrish interviews industry leaders on topics ranging from teaching children to honing technical skills. Past tea talks include discussions with para-athlete Noelle Lambert, who founded the Born to Run Foundation, and Olympic gold medalist Debbie Armstrong. For individuals who cannot attend the live webinar, all tea talks are recorded for later viewing. To browse recorded talks or upcoming events, visit lms.thesnowpros.org/webinars/.

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The Methodology Behind Forbes’ Best-In-State Wealth Advisors List

Since 1987, Keefe Gorman has served as a wealth management advisor and managing director of investments at Merrill Lynch in Ithaca, New York. In recognition of his accomplishments at Merrill Lynch, Keefe Gorman has appeared on the Forbes Best-In-State Wealth Advisors list every year since 2018. In 2020, the Best-In-State Wealth Advisors list included more than 4,000 advisors from all over the United States. The advisors were nominated by their firms, while SHOOK Research conducted research and developed the rankings based on an algorithm that took into account several criteria, including interviews and data analysis. In order to make the list, advisors needed to possess a minimum of seven years of experience and score high on a number of criteria, including revenue trends, compliance records, industry experience, and their approach to working with clients. In addition, SHOOK took into account best practices and the high-quality experience that the advisors provided to clients.

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Foodnet Meals on Wheels Aims to Eliminate Hunger Among Seniors

Based in New York, Keefe Gorman offers wealth management and investment services at Merrill Lynch. Outside of his endeavors at Merrill Lynch, Keefe Gorman served for eight years as a board member with Foodnet Meals on Wheels of Tompkins County. The goal of the Foodnet Meals on Wheels program is to end hunger among seniors in Tompkins County and to provide support services for the community. The program is facilitated by a registered dietitian who provides meal planning, as well as nutritional assessment and counseling. The organization began in 1967 with hot meal deliveries organized by a group of local church women in Ithaca that led to the founding of the Tompkins County Nutrition Program for the Elderly in 1974. In 1987, it became a nonprofit with one mission: to provide meals and additional nutritional services to older adults and other people in need in Tompkins County. The program became a part of Meals on Wheels in 2000.

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Certification with the Professional Ski Instructors of America

An experienced financial advisor with Merrill Lynch, Keefe Gorman has appeared on Barron’s Top 100 Advisors list and was mentioned twice as a Top Financial Planner by the Consumers’ Research Council of America. Outside his role with Merrill Lynch, Keefe Gorman is an accomplished skier who recently became a certified professional ski instructor with the Professional Ski Instructors of America. Certification with the Professional Ski Instructors of America and American Association of Snowboard Instructors (PSIA-AASI) signifies credibility and expertise in the area of ski instruction. The organization upholds rigorous training standards, including comprehension of technical terms, concepts, and models, as well as recognition of movement patterns in riders. Certified instructors demonstrate the ability to choose appropriate teaching exercises for both children and adults, and are able to present concepts in logical progression from simple to complex. Instructors use appropriate and effective feedback models to help students of all levels improve. In addition to general certification standards, the AASI publishes standards for specialty instruction in areas such as adaptive snowboarding, telemark skiing, and Nordic cross-country skiing.

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About the U.S. Ski and Snowboard Association

A managing director at Merrill Lynch, Keefe Gorman has been ranked a Top 50 Broker by Registered Representative Magazine. Aside from his professional successes at Merrill Lynch and beyond, Mr. Gorman has excelled at skiing competitively, participating in the U.S. Pro Ski Tour and the 1984 NCAA Skiing Division I Championships. Keefe Gorman holds membership in the U.S. Ski and Snowboard Association (USSA). The parent organization of the U.S. Ski Team, the USSA is the governing body that administers Olympic skiing and snowboarding. The USSA also functions as the umbrella group for U.S. Snowboarding and U.S. Freeskiing. Tens of thousands of young Olympic hopefuls are served by the USSA. In addition to facilitating U.S. participation in national and international skiing competitions, the USSA provides structure and guidance to competitive skiing and snowboarding groups, acting as a reference point for rules management and athletic rankings. The USSA operates a training and education facility in Park City, Utah. The U.S. men’s ski team also has chosen Chile as one of the training locations for the 2014 Winter Olympic Games in Sochi, Russia.