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John R. Myers, CFP®

Our Objective: Preserve on the downside without sacrificing upside growth

J. W. Cole Advisors, Inc.

Ft. Washington

PA

Contact Me

Overview

Services

Advisor Services

  • Financial Planning
    • -Estate Planning
    • -Comprehensive Financial Planning
    • -Retirement Planning
    • -College Planning
    • -Charitable Planning
  • Insurance
    • -Life Insurance
    • -Health Insurance
    • -Long-Term Care Insurance
  • Portfolio Management
    • -Individuals and/or Small Businesses

Funds

Funds Used With Clients

There are no funds listed for this advisor at this time.

Firm Client types

Qualifications

Experience

No timeline events available.
Employer Years Dates
Woodwell Asset Management 9 years, 10 months Feb 2008 - Present
J.W. Cole Financial, Inc. 12 years, 2 months Oct 2005 - Present
J.W. Cole Advisors, Inc 12 years, 2 months Oct 2005 - Present
A-Mark Inc 17 years, 9 months May 1990 - Feb 2008

Designations & Memberships

  • Certified Financial Planner
    Designation
    Certified Financial Planner
    A standard certification for advisors, designees are exposed to nearly 100 topics on integrated financial planning. Major topics include, but not limited to: insurance, employee benefits, securities, state and federal tax, estate tax and planning, asset protection, etc.

Articles and Answers

Insights by John Myers

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Answers

Ask a financial questionAsk a question
Is low inflation good for retirees?
What retirees should hope for is a "goldilocks" economy....some mild inflation, moderate interest rates and consistent economic growth.Inflation results from tight money chasing growing demand, thereby bidding up the costs of production, usually including wages. Since retirees often don't participa...  (more)
Answered Feb 2015
Should I keep my IRA with PNC bank with a 1.4% annual fee or switch my IRA to Vanguard which charges a minimal fee?
Carol,Fees are indeed an important consideration when evaluating investments and investment advisors. But fees are by no means the ONLY consideration. Investment writers tend to focus on the fee issue because it is concrete, unambiguous and can be easily compared. Comparing investment performance t...  (more)
Answered Feb 2015
Withdrawing from my 401K to purchase real estate.
It would be a good idea if you could wait a little longer until you reach 59 1/2. Otherwise you will have to pay a 10% penalty to the IRS for a premature distribution. Also, every dollar you take out will be taxable income in the year withdrawn so you will likely owe tax on your distribution and on ...  (more)
Answered Feb 2015
I received a gift of $10,000. Should I open a new Roth IRA, or increase my contribution to my employer's Roth 401 K ?
Dwight,Contributions to IRAs are made by you. Contributions to 401Ks must be made by your employer either through match or by having you deduct contributions from your pay.Since 401K contributions come from your employer, you cannot simply write a check to your 401k, although you could increase yo...  (more)
Answered Dec 2014
RMDs - What's the purpose?
You have captured the major reasons. RMDs are calculated by applying life expectancy factors to the prior end of year balance in the account. The idea is to come close to liquidating the account over a normal life expectancy. People were given the right to defer taxes as an incentive to build an acc...  (more)
Answered Nov 2014
Are cash gifts taxable to the recipient?
Federal gift taxes apply to the donor, not the recipient. The gift tax is the mirror image of the estate tax. Currently each individual can pass on over $5mm at death without estate taxes applying. Any gifts made during your lifetime that exceed the annual gift tax exclusion amount referenced above...  (more)
Answered Dec 2014
401k rollover to IRA to cash for grad school: bad idea or does it depend?
Keith:Like Jonathan, I wouldn't plug in an assumed 12% earnings rate, at least not for the next few years (we've had 5+ years of consistent growth from the 2009 bottom and the markets at all time highs). If we assume a more conservative 6% earnings rate, your $50,000 in your 401K would grow to over...  (more)
Answered Nov 2014
I want to know can my spouse get my 401k if i get a divorce?
That depends on what happens in your divorce negotiations. Your 401K is a financial asset like any other and goes into the calculation of the total assets which you and your spouse bring to the table. In the divorce settlement you will agree on how much of the total each gets. If you agree to hav...  (more)
Answered Jan 2015
I am no longer employed with a company. I am wanting to withdraw the money I put in my 401k plan and want to know how?
Kelli,Let's keep this simple. Just call your former employer's HR department.Tell them you're a former employee who wants to take the money in your 401K. Everything that you contributed via payroll deduction is 100% vested while depending on the plan and how long you worked, any matching contribut...  (more)
Answered Feb 2015
If I were to leave my job today; would the company keep 20% of my 401k for taxes?
Darlene,Just to clarify, most companies permit withdrawals from 401K plans only when you either retire or leave the company. But as James noted, you are not normally required to take the money when you leave. ..you can let it stay in the plan and continue to grow. But if you decide to take it out,...  (more)
Answered Nov 2014
Old 401k Plan?
All you have to do is call the HR department at the company (assuming its still in existence) and ask them. Armed with your maiden name and social security # and other identifying info, they should be able to tell you. If the company was sold to another firm, call the new firm's HR department....  (more)
Answered Jan 2015
What is the average 401k fee for a small company?
Here are some links that may help.The first is to one of the better surveys getting specifically at the question you have asked:http://www.ici.org/pdf/per20-03.pdfThe second link is to the Department of Labor site with a lot of good information on fees and other aspects of 401K plans:http://www....  (more)
Answered Nov 2014
Should I contribute to an IRA if I'm already contributing to a 401k? I'm 31 years old 8% will get me the full comp. mat.
For 2015, you may defer from your paycheck up to $18,000 (plus $6,000 if over age 50). If your employer matches your contribution and makes a profit sharing contribution as well, your total of all three (deferrals you make, plus match plus profit sharing contribution cannot exceed $53,000 (plus $6,...  (more)
Answered Dec 2014
Hello and good day I am seeking to know if I can direct my invest monies to metals?
There are a number of mutual funds that specialize in gold and special metals...here's a link to a U.S News and World Report article: http://money.usnews.com/funds/mutual-funds/rankings/equity-precious-metals and here is a list of metals and mining exchange traded funds from which you can choose: h...  (more)
Answered Nov 2014
What happens when you are not an employee of your employee? How do you cash out of your 401K?
Unfortunately the process normally begins by contacting your former employer's HR department. Give them a call and tell them you are a former employee and would like to remove your assets from the plan.If you new employer plan permits it, you can have the money directly transferred into that plan. ...  (more)
Answered Oct 2014
I want $20,000 from my 403b. Should I do it as a 5 yr loan @ 4.25 interest, or as a withdrawal and pay the taxes now?
You may not have a choice other than a loan if you want to take money out of your 403B prior to separation from service. Plans may but are not required to allow for hardship withdrawals under a small set of specified circumstances (check your plan document to find out if your plan allows for hardshi...  (more)
Answered Dec 2014
My kids have a life insurance plan from my deceased mother in law and I do not know how to get it for them?
To get anywhere you will likely need a policy number. But lacking that, I would try calling her employer's HR department and tell them you have a death claim to report on a former employee who was insured under a life insurance policy purchased through the employer. It would help if you had her soci...  (more)
Answered Jan 2015
How long can a blackout legally last?
Here's a link to the Dept. of Labor's final rules on blackout periods: http://www.dol.gov/ebsa/regs/fedreg/final/2003001430.htm As you'll note, they are required to tell you what the length of the blackout period is, but the rule does not specify a maximum length. ...  (more)
Answered Nov 2014
I have a 401K with a former employer who was recently bought. Wondering if I should transfer the funds and where?
Ansu,Unfortunately there is no definitive answer we can give you without additional details about the choices you are considering and your preferences/personal situation.Basically It comes down to balancing the following factors:1. Convenience2. Fees3. Investment choices4. FeaturesTransferri...  (more)
Answered Jan 2015
I have a TransAmerica 401K through my employer. Every fund choice is a fund of a fund, increasing fees. Typical?
Keith,It is unlikely that your employer can negotiate their own fee schedule unless the company plan is huge. If you are uncomfortable with the range of choices you have, you would probably get further lobbying for them to change providers. There are a number of companies that provide "open archi...  (more)
Answered Oct 2014
Private retirement benefits?
Have you tried entering your former employer's name in the Retirement Plan Search window at the top of the Brightscope.com homepage?...  (more)
Answered Nov 2014
How do i get a loan from my 401k?
Contact your HR department or whomever is the person in your office responsible for administering your plan and tell them you would like to take out a loan. They will provide you with the paperwork you need to complete to get the loan. Normally you can borrow up to 50% of the vested value of your ac...  (more)
Answered Dec 2014
Best "alternative" retirement strategies?
Brennan:Are you speaking as an individual or as someone who owns a business?How old are you?What was your tax rate last year and do you expect that changing for the future?What is your family situation...married? kids?How do you feel about fluctuating account values?...  (more)
Answered Dec 2014
Can i take out a loan against my 401k?
If your plan allows it, you will most likely be able to borrow up to 50% of the vested value of your account up to $50,000. You will begin paying it back through regular payroll deductions. ...  (more)
Answered Nov 2014
When is last day to make a contribution to my self employed 401k as an employer and employee for the tax year 2014?
Are you sure you have a 401K? A very popular tax qualified plan among self employed individuals is a SEP-IRA. The contribution must be made by the tax filing deadline including extensions for the business return. You may contribute up to 25% of your compensation but no more than $52,000 for 2014 . ...  (more)
Answered Feb 2015
I am leaving my job. I have a 401k plan, with an outstanding loan. In what tax year will the loan proceeds become due?
Generally, the date of separation is considered the date of distribution and therefore tax and penalty obligations are created as of the date of distribution although in most cases you have 60 days after separation to "correct" it. The company should issue you a 1099R which will clarify the issue fo...  (more)
Answered Dec 2014
How do i go about withdrawing my 401k ? Who do i call?
Do you mean withdrawing the entire amount because you've left the company or do you mean withdrawing some of the money in the account while you are still employed by the company?In either case, the short answer is, contact your HR department or in a small company, the plan trustee...typically the o...  (more)
Answered Oct 2014
I received a letter stating I have shares within UAL corporation. I cannot find anyone, phone number of who can help me.
Here is a link to Computershare, http://www.computershare.com/us/Pages/default.aspxthe transfer agent which Brian referenced. The transfer agent is the firm that keeps the records of who owns the stock of a company. There are a few different firms that do this for most major U.S. companies and as ...  (more)
Answered Nov 2014
Letter from SS of potential private retirement benefit from 1997 under Simione Central Holding INC in Atlanta.
As of 3/7/2000, Simione Central holdings Inc. was acquired by MCS Inc. in a reverse merger transaction. Previously, Simione Central Holdings, Inc. provided systems and services designed to help home health care providers. These software solutions were designed to enable customers to generate and uti...  (more)
Answered Nov 2014
How can I find out how much money is in my retirement account with Kennametal?
http://www.brightscope.com/401k-rating/118373/Kennametal-Inc/120163/Kennametal-Thrift-Plus-Plan/Here is a link to information about your company's plan. You can also contact your HR department and they will be able to tell you. (866) 783-4688...  (more)
Answered Nov 2014
How do I find out how much money a month I will be collecting through my pension?
Your employer is required to provide you with a plan statement at least once every 3 years which will list your monthly benefit at retirement but many plans provide such statements annually....  (more)
Answered Oct 2014
I left my job with money in a Roth 401k, can I roll it to a Roth IRA? I only had the Roth 401k for 3 years."?
The website is talking about a "distribution"...in IRA terms that means you take the money out from under the protection of IRA status...i.e. get a check. A rollover (or direct transfer) from one designated IRA to another is not a distribution so what you were reading about qualifying events does ...  (more)
Answered Nov 2014
As part of the divorce settlement I am to receive 70,000 from my ex-husband's 401K.
Hopefully the Qualified Domestic Relations Order (QDRO) that you received as part of your divorce settlement was drafted with the requirements of your ex-husband's 401K plan in mind. As John points out, there are many differences in plans and if your QDRO does not mesh with the plan's requirements y...  (more)
Answered Nov 2014
Rollover 401K to O&G weighted IRA /ETF /Mutual Fund?
If you roll over your 401K to a brokerage account set up as an IRA rollover account, almost all investment options are open to you...mutual funds, exchange traded funds (ETFs), options. There is one restriction...the IRS does not allow borrowing from an IRA so you can't use margin short selling or ...  (more)
Answered Dec 2014
How long do it takes to your profit sharing money?
Most profit sharing plans have a vesting schedule (your percentage of ownership in your account goes up each year) so that each year that you remain employed, you own a greater percentage of your profit share balance when you leave the company. Eventually you are entitled to the entire balance. Pla...  (more)
Answered Dec 2014
I had a 401k several years ago with Jitney Jungle who now does not exist. Does the 401k still exist?
Here is a link to the Brightscope page with information about BI-LO's 401K and a phone number to contact. Hope it helps.http://www.brightscope.com/form-5500/basic-info/255581/Bi-Lo/259688/Bi-Lo-401k-Savings-Plan/2013/...  (more)
Answered Jan 2015
How do I withdraw my Humane Society of El Paso Inc., profit sharing plan? I am no longer employed there.
Here's the Brightscope link to the plan information including a phone number. Give them a call, tell them you have separated from service and would like them to send you a packet to obtain your vested benefits:http://www.brightscope.com/form-5500/basic-info/1360847/Humane-Society-Of-El-Paso-Inc/139...  (more)
Answered Dec 2014
Cash out my inactive 401k-?
Assuming your 401K plan is one administered at the parent corp. level, then you should be able to continue to contribute and for most plans, unless you separate from service, you cannot move your balances or otherwise withdraw (unless via loan or for hardship purposes if allowed).But whether or not...  (more)
Answered Jan 2015
How do I withdrawal all of my Tyson 401k?
Below is a link to the Brightscope page on Tyson Foods, including the plan contact number. Like most plans you cannot withdraw your money other than for approved hardship reasons (describe in the plan documents) until you leave the company either by changing jobs or retiring. If you have left the co...  (more)
Answered Dec 2014
Can I get a loan or get a lump sum buy out on my monthly payments I receive now on my retirement.
It is possible to sell your rights to receive a pension in exchange for a lump sum but it is generally not advisable.Here is a link to an SEC press release on the subject that may be helpful to you:http://www.sec.gov/News/PressRelease/Detail/PressRelease/1365171514298#.VKG0oScA...  (more)
Answered Dec 2014
If I receive monthly payments on retirement plan can I roll any of that plan into a IRA account.
Timothy,To do a better job of providing you with useful information it would be very helpful to know more about the kind of retirement plan you have....  (more)
Answered Dec 2014
Can a child of a deceased past employee receive his pension funds?
If you son elected a pension payout with residual benefits (i.e. one that does not stop at the death of the pensioner) then he would have been asked to name a beneficiary(ies). The plan administrator will have that information on file. Call the company's HR department and explain your situation. The...  (more)
Answered Dec 2014
How does a Cash Balance Plan differ from a 401(k)?
At the risk of oversimplifying, here are the key differences:In a 401K you decide how much you will contribute and the amount that you accumulate is dependent on the investment returns you achieve as a result of the investment choices you make in the plan..in other words, the risk of reaching your ...  (more)
Answered Nov 2014
Is an indexed life insurance policy a viable option for a high income earner who is a wage earner?
Daniel,If you need some permanent life insurance, this plan may be a good alternative for you that provides that benefit while also offering the potential for some accumulation. But be careful if you are looking at it solely as an "investment".I believe the Voya loan you speak of is not left in th...  (more)
Answered Dec 2014
How do I find out how much money is in my retirement account?
Naomie,You can find out a lot about your plan using the Brightscope search bar at the top of the page (if it is listed), including the phone number to call. As John said (above), you ultimately have to contact the person in your home office who handles the plan or if you have an HR department, call...  (more)
Answered Dec 2014
Should I cash out my 403 (B) of $20,000 to help pay off a $17,500 private student loan with an 11.75% interest rate?
Brian,I can't disagree with most of what was said above but to truly be able to get to a net cost/benefit calculation we need to know the term of your loan and the monthly payment amount....  (more)
Answered Nov 2014
I just found our that I have a retirement account with SPX. How do I go about checking it out and getting my money?
Phyllis,Call the company's Human Resources department. They will be able to tell you if there is an account balance associated with your social security number and other information and they can then tell you the steps required for you to roll over any funds to which you are entitled....  (more)
Answered Jan 2015
How can I obtain a copy of the Terms of Withdrawal on my 403-B?
Call the HR department at your employer and they should be able to fax or email the info you need. Alternatively, some plans give you access to this information at the online portal where you view your statements....  (more)
Answered Nov 2014
New rules for taking after-tax money out of your 401(k)?
Whether or not you can do any of this depends on what is permitted by the plan. Most plans will not permit money to be withdrawn from the plan unless the employee has separated from service. Check with your HR department or look at the plan summary information you were given. If your husband is sti...  (more)
Answered Nov 2014
I have to my first RMD this Dec or next April. Can I do part of the total in December and the rest in April?
If I understand you correctly you are trying to split one year's RMD amount across two calendar years.. Unfortunately any RMD that is taken is taxable in the year the distribution is made and attributable to that year's RMD requirement. You have until April 1st of the year after you turn 70 1/2 to ...  (more)
Answered Dec 2014
    *Answers are submitted by advisors without compensation.

    Licenses & Conducts

    SEC
    U.S. Securities and Exchange Commission
    • license status
      Registered
    • disclosures
      None
    • as of date
      Jan 4, 2016
    FINRA
    FINRA
    • license status
      Registered
    • disclosures
      None
    • as of date
      Jan 16, 2016
    Review the status and details of the disclosures noted above using the SEC's Investment Advisor Public Disclosure website:

    Assets

    Advisor

    Last updated on Sept. 8, 2016
      • $55.0M
        Total Assets Under Management
      • $0
        Total Assets Under Advisement
      • 152
        number of clients
      • $361.8K
        Estimated Average Account Balance Per Client

    J. W. Cole Advisors, Inc.

    Last updated on May 15, 2017
      • $1.5B
        Total Assets Under Management
      • N/A
        Total Assets Under Advisement
      • 8K
        Accounts
      • $194.1K
        Estimated Average Account Balance

    Fees

    Types of Compensation Arrangements

    • Percentage Of Assets
    • Hourly Charges
    • Fixed Fees
    • Commissions