Michael Keefe Gorman Tumblr Blog

Outside of his work in the financial industry, Michael Keefe Gorman devotes a great deal of time and energy to a wide variety of charitable causes. On a local level, Mr. Gorman sits on the Board of Directors for the Rotary Club of Ithaca Sunrise. Additionally, he provides philanthropic support to Foodnet, Inc./Meals On Wheels and Skaneateles Lake Association, Inc., a not-for-profit corporation that channels its resources to protect and preserve the natural resources of the Finger Lakes Regional Watershed. Doing his part to improve the lives of families coping with cancer, Mr. Gorman helps fund Camp Good Days and Special Times, a residential camping program for children based in upstate New York. On a national level, Michael Keefe Gorman donates to the Leukemia and Lymphoma Society, the American Cancer Society, and ShelterBox USA, to name a few. An accomplished skier since his youth, Michael Keefe Gorman competed on behalf of St. Lawrence University, his alma mater, from 1980 to 1984. As Captain of the school’s ski team in 1984, Mr. Gorman obtained a top-20 ranking in an NCAA Division 1 competition. He continues to ski recreationally today and retains affiliation with the United States Ski and Snowboard Association, the New York Master Ski Racing Association, and the United States Ski Association. Michael Keefe Gorman is married with four children. Merrill Lynch Wealth Management Bank of America Corporation M. Keefe Gorman Certified Special Needs Advisor (CSNA), Certified Financial Planner (CFP), Certified Financial Planner (CFP w /trademark) Wealth Management Advisor Managing Director-Investments Telephone [phone] Fax [phone] [email protected] www.fa.ml.com/the_gorman_group 235 South Cayuga Street, Ithaca, NY 14850 Merrill Lynch, Pierce, Fenner & Smith Incorporated

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How to Keep Score During a Tennis Match

Drawing on more than 32 years of experience, Keefe Gorman, CFP, functions as founder and managing director of The Gorman Group at Merrill Ly

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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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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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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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The Ultimate Ski Guide for Beginners

Keefe Gorman is a Merrill Lynch wealth management advisor and creator of The Gorman Group. Outside of his professional pursuits, Keefe Gorman enjoys skiing. Skiing can be nerve-wracking for beginners. Unlike some other outdoor activities that don't necessitate planning and equipment, skiing usually requires a lot of planning. One of the first items on your checklist should be to pack the right items. These include what type of clothes to wear, water, snacks, etc. It is critical to bring waterproof and thick clothing to keep the cold out and keep you warm. When preparing for the slopes or packing additional clothing, the two most important things to remember are to layer and avoid cotton. Cotton is not advised because it loses its insulating properties once wet. It could also be a good idea to invest in a knapsack to bring some water and snacks with you on your journey. The next step is to figure out what kind of gear and equipment you'll need. It is preferable to rent larger equipment because it is usually more expensive, and transporting it for each ski trip might be a nuisance. Having your equipment, however, isn't a bad idea. Helmets, ski goggles, gloves, and boots are some of the items that are easier to purchase and transport. Another crucial tip is to plan your first trip to a beginner-friendly ski resort. The reason is that your first skiing experience goes as smoothly as possible. It's worth noting that not all popular ski resorts offer beginner-friendly slopes and equipment. Booking a beginner-friendly resort is particularly advantageous because most provide individual or group courses for beginners. Also, instructors are trained to cater to the needs of complete novices.

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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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Nationwide Light The Night Helps Raise Funds for Blood Cancer Cures

Keefe Gorman provides financial services as a managing director and advisor at Merrill Lynch and possesses three decades of experience in wealth management solutions. Outside of his work at Merrill Lynch, Keefe Gorman supports the Leukemia & Lymphoma Society. The Leukemia & Lymphoma Society (LLS) manages a number of fundraising initiatives to help combat the disease, such as the nationwide Light The Night event. Light The Night operates with the purpose of bringing the community together for a common goal: funding research to find a cure for blood cancers. It inspires families, friends, and co-workers to form fundraising teams that engage the community in supporting cures for cancer through donations and advocacy. The event culminates in an annual fall evening walk in which participants carry illuminated lanterns. Individuals who participate in the event and walkers who reach certain fundraising goals will receive a number of incentives. Walkers who raise $100 or more will receive access to food and refreshments, an event T-shirt, and an illuminated lantern to carry during the evening walk. Those who raise over $1,000 are invited to become a member of the Bright Lights Club, which provides them with a number of personalized rewards and invitations to exclusive Bright Light gatherings. Dates and times for the fall evening walk vary according to city and state. To learn more about Light The Night, visit registration.lightthenight.org/event-search.

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Preschool Programs at Skaneateles YMCA in New York

When he is not serving as a financial adviser at Merrill Lynch, Keefe Gorman gives back to his community through local and national non-profits organizations. For instance, Keefe Gorman is an active member of the YMCA in Skaneateles, New York. The Skaneateles YMCA draws on its four central values - caring, respect, honesty, and responsibility - in operating its preschool program. It provides a compassionate learning atmosphere that reflects the commitment of a dedicated staff of teachers and the friendship of other students. Paying special attention to developmental stages in children’s lives, teachers work from life-affirming curricula that take into account physical, social, and emotional needs. Reading and writing skills receive special emphasis, as do motor development and social abilities. Children also practice two-way communication, completion of tasks, reasoning, and other cognitive capabilities. The Skaneateles YMCA also sponsors a Terrific Twos program for early learners. Its goal is to prepare children for kindergarten through games, songs, and crafts.

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The 2015 1856-Minute Challenge at St. Lawrence University

An experienced financial advisor based in New York, Keefe Gorman serves as a managing director with Merrill Lynch. Keefe Gorman balances his responsibilities at Merrill Lynch with his involvement in a wide range of groups and organizations, including the Major Gifts Committee for his alma mater, St. Lawrence University. St. Lawrence alumni, faculty, students, parents, and other supporters recently helped the school exceed its goal for the 1856-Minute Challenge in April 2015. The university announced that it received contributions from a total of 2,581 donors, which surpassed its goal of 2,369 donors by more than 200. During the challenge time period, St. Lawrence experienced record-breaking generosity by the Laurentian community in the form of pledge payments and new gifts. When asked why they engaged in the 1856-Minute Challenge, participants told St. Lawrence that they are honored to be Laurentians and are committed to helping the school deliver high quality opportunities and experiences. In 2015, 1856-Minute Challenge participants donated more than $400,000 to the school.

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Popular Ski Resorts in Chile

Keefe Gorman is a managing director of investments at Merrill Lynch. Outside of his responsibilities at Merrill Lynch, Keefe Gorman is an avid snow skier who has competed in several ski races and competitions. Although he has skied in a variety of locations, he spent some time living in Chile near Los Andes and had the opportunity to travel and ski extensively throughout the country. Although many people may not think of skiing when they think of Chile or South America, the country has a wide variety of ski resorts that attract a range of skiers from around the world. Following are just a few of the more well-known ski resorts in Chile. - Portillo Chile: Located in the Andes and owned by an American family, Portillo is an exclusive ski resort that often allows guests the luxury of skiing mostly empty slopes and a variety of terrain. The hotel at the resort has 450 beds, and if the snow is a bit light on any given day, tickets are limited to ensure all guests have the chance to ski. - El Colorado: Belonging to the Tres Valles resort complex, which consists of La Parva, Valle Nevado, and El Colorado, El Colorado offers budget-friendly options, making it popular with locals. Guests can either ski El Colorado by itself or they can buy a joint lift ticket that allows access to two neighboring resorts. - Termas de Chillan: Located on the side of an active volcano, Termas de Chillan offers unique terrain and prolific snow. However, it is sometimes at the mercy of the weather, which can produce too much snow or pouring rain. The resort has its own five-star accommodations, but budget-conscious guests can ski at the resort while staying elsewhere if desired.                            

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Ithaca Sunrise Rotary Club’s New Project to Support Senior Citizens

Holding a bachelor of arts in economics from St. Lawrence University, Keefe Gorman currently leads a team of financial professionals as a managing director of investments at Merrill Lynch. In addition to his role at Merrill Lynch, Keefe Gorman holds several board and committee positions in his community and is on the board of directors for Ithaca Sunrise Rotary Club. The Ithaca Sunrise Rotary Club was founded in 1986 as a part of the worldwide organization Rotary International. It is dedicated to providing humanitarian service to the Ithaca, New York, community and to supporting the international organization’s goal of building goodwill around the world. To this end, the Ithaca Sunrise Rotary Club maintains several programs and projects. Recently, the Ithaca Sunrise Rotary Club ended one of its signature projects, the monthly dish-to-pass Sunday dinners at Lifelong Senior Learning Center. Hoping to find a new way of supporting the senior population in the community, the organization formed a committee to design a new project focused on helping elderly residents. The result of the committee’s efforts was a new project that brought Rotary Club members to Oak Hill Manor nursing home on the second Saturday of every month. During the hour that Rotary members spend at the home, interested residents can meet to play games or participate in other activities. The new project was first implemented in February 2015 and attended by approximately 10 residents.

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Various Wakeboarding Stances

A former professional skier, Keefe Gorman currently works as a wealth and investment advisor at Merrill Lynch. When not busy with his work at Merrill Lynch, Keefe Gorman continues to lead a healthy, active lifestyle with activities ranging from golf to wakeboarding. The most basic skill that must be mastered by an amateur wakeboarder is learning to stand on the board. There are a number of stances an individual may assume. Deciding between a "goofy," or right foot forward stance, or a regular left-footed stance, is the first step. People's preference has nothing to do with whether they are right- or left-handed; rather, the best way to decide between goofy and regular is known as the push method. Boarders should ask a friend to gently push them off balance while they are standing on the board. The foot riders naturally use to steady themselves should be the one they choose. In order to perform certain maneuvers or out of necessity, wakeboarders may ride switch stance or fakie (using the opposite of their usual riding method). Stances can further be distinguished as toe side or heel side, indicating which portion of the foot is being leaned on.