Michael Aloi, CFP®

Michael Aloi, CFP®

CFP®, Summit Financial, LLC

With 17 years of experience in the financial services industry, Michael Aloi specializes in working with executives, professionals and retirees. Since he joined Summit Financial, LLC, Michael has built a process that emphasizes the integration of various facets of financial planning. Supported by a team of in-house estate and income tax specialists, Michael offers his clients coordinated solutions to scattered problems. Outside of work, he enjoys spending time with his wife and three children.

E-mail: maloi@sfr1.com | Website: www.michaelaloi.com | LinkedIn: www.linkedin.com/in/michaelaloi/

3 Smart Places to Save Now
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Tax Breaks

3 Smart Places to Save Now

Boomers planning on retiring in the next several years should consider these three tax-smart moves now. They can help you cut the taxes you’ll pay on …
September 23, 2021
Social Security ... What I Like About It (and What I Don’t)
A man holds up a green plus sign and a red minus sign.
social security

Social Security ... What I Like About It (and What I Don’t)

A financial adviser shares some pros and cons about Social Security, the linchpin for most people’s retirement plans. Do you agree, and what does it m…
August 14, 2021
IRA Tax Planning: Minimizing the RMD Ticking Time Bomb
A couple on the beach look pensively at the horizon.
required minimum distributions (RMDs)

IRA Tax Planning: Minimizing the RMD Ticking Time Bomb

Couples with a bit of an age difference have an interesting strategy available to them to reduce taxes on their retirement savings due to required min…
July 14, 2021
A Woman’s Guide to Long-Term Care
A woman does yoga
Long-Term Care Insurance

A Woman’s Guide to Long-Term Care

Who needs long-term care insurance … and who might be able to do without it?
July 11, 2021
How to Pre-Fund a Legacy So You Can Enjoy Your Retirement Guilt-Free
A little girl with a piggy bank under her arm holds her dad's hand.
inheritance

How to Pre-Fund a Legacy So You Can Enjoy Your Retirement Guilt-Free

If you want to ensure your kids will get the inheritance you had in mind for them — and you want to be able to spend the rest of your money on yoursel…
June 22, 2021
Taxes, Taxes and More Taxes
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tax planning

Taxes, Taxes and More Taxes

In light of the recent proposals by President Biden and Sens. Bernie Sanders and Chris Van Hollen, here’s what could be coming and some ideas on how t…
May 4, 2021
What You Need to Know about College 529 Savings Plans
A group of college students walk on campus.
529 Plans

What You Need to Know about College 529 Savings Plans

Do you know how much you’re able to contribute or what the funds could be used to pay for? How about how contributing affects your taxes? Check out th…
April 14, 2021
How to Take a Pension: A Math Formula Drives 1 Retiree’s Choice
A woman stands in front of a chalkboard with a math formula on it.
retirement planning

How to Take a Pension: A Math Formula Drives 1 Retiree’s Choice

Ever hear of the pension income ratio? This mathematical formula can help you decide whether it makes more sense to take a lump sum or a series of pen…
April 2, 2021
When Choosing Funds for Your College 529 Plan, Don’t Make This Mistake
A kid with a confused look on his face.
529 Plans

When Choosing Funds for Your College 529 Plan, Don’t Make This Mistake

Age-based funds make sense for some retirement savers, but they rarely make sense for college savers, in my opinion. Here’s why. This article is part …
March 13, 2021
Want More Tax-Free Retirement Income? One Man’s Whole Life Decision
A man rests his chin on his hand and looks up as he makes a decision.
life insurance

Want More Tax-Free Retirement Income? One Man’s Whole Life Decision

Whole life insurance might not be something that’s on your retirement planning radar, but for this client, here’s how it served his need to control ta…
February 23, 2021
4 Ways to Dilute a Concentrated Stock Risk
Rocks balance on a teeter-totter, with one end higher than the other.
investing

4 Ways to Dilute a Concentrated Stock Risk

For investors, it’s possible to have too much of a good thing, and it can be disastrous to have too much of a bad thing. Is your portfolio overweighte…
February 4, 2021
3 Bargain Stocks for 2021
Sale signs adorn store shelves.
investing

3 Bargain Stocks for 2021

Finding bargains in the stock market is never easy. But here are three stocks that got beaten up last year and I like for 2021.
January 5, 2021
3 Investment Tips for 2021: Trends to Watch and Moves to Make
Photo of percentage signs
investing

3 Investment Tips for 2021: Trends to Watch and Moves to Make

Opportunistic investors should keep an eye out for movement in these key sectors, and everyone will want to make a couple tried-and-true moves to shor…
December 20, 2020
Debt After Death: What You Should Know
Man with a box on his head painted with a worried face
debt

Debt After Death: What You Should Know

Some types of debts are forgiven when you die, and others could haunt your family until they’re paid off.
November 2, 2020
Caught in the Middle: How Young Parents Can Plan for Long-term Care
A mother and daughter drink coffee at home
Long-Term Care Insurance

Caught in the Middle: How Young Parents Can Plan for Long-term Care

One family’s story shows how important long-term care plans are … and how whole life insurance with a long-term care rider can help.
October 29, 2020
Boost Your Retirement Income in 3 Steps
Retirees on a beach
personal finance

Boost Your Retirement Income in 3 Steps

Low interest rates are a big challenge for retirees today. To help cope, try these three strategies.
October 9, 2020
Checklist: Steps to Take after Your Spouse Dies
retirement

Checklist: Steps to Take after Your Spouse Dies

Feeling overwhelmed? A checklist can help you figure out where to start and tasks you may be able to put off.
August 27, 2020
Whole Life Insurance … Love It or Leave It?
life insurance

Whole Life Insurance … Love It or Leave It?

Low interest rates can be bad news for these types of policies. Here are 3 reasons why now is a good time to review your policy with an in-force illus…
July 27, 2020
Do-It-Yourself Index Funds: A Smarter Way to Own the Index?
A person sitting at a desk, holding a pen, with a calculator, piggy bank and a stack of coins
investing

Do-It-Yourself Index Funds: A Smarter Way to Own the Index?

Index funds are easy, but when you buy them you are giving up your chance to take an important tax break. So, if you're willing to roll up your sleeve…
June 12, 2020
Whole Life Insurance: It's a Swiss Army Knife for Financial Planning
retirement

Whole Life Insurance: It's a Swiss Army Knife for Financial Planning

How does whole life insurance work? What are some of its pros and cons? And could it be right for you?
May 1, 2020
5 Bear Market Lessons Learned from 20 Years as a Financial Adviser
A person sitting at a desk, holding a pen, with a calculator, piggy bank and a stack of coins
retirement

5 Bear Market Lessons Learned from 20 Years as a Financial Adviser

When stock markets are tanking, jumping, shaking and diving, here's what works for investors and retirement savers, and what doesn't.
April 15, 2020
Stay the Course, Stay the Course, Stay the Course
A person sitting at a desk, holding a pen, with a calculator, piggy bank and a stack of coins
investing

Stay the Course, Stay the Course, Stay the Course

Investors are being tested by the stock markets: Can they stay the course? Should they? Take a look at a few charts of market performance over the lon…
March 16, 2020
3 Ways to Claim a Life Insurance Benefit: Which Is Right for You?
A person sitting at a desk, holding a pen, with a calculator, piggy bank and a stack of coins
insurance

3 Ways to Claim a Life Insurance Benefit: Which Is Right for You?

When you are due a life insurance death benefit, a lump sum payment isn't your only option. There are typically three main ways to take your benefit, …
February 11, 2020
How to Make Investing More Meaningful
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investing

How to Make Investing More Meaningful

Saving and investing may seem mundane to some, but there are ways to make it more fulfilling. Here are three strategies to do good things with your mo…
January 14, 2020
A Widow's Broker Made a Huge Mistake
retirement

A Widow's Broker Made a Huge Mistake

A step-up in basis can be a massive tax benefit for surviving spouses, but only if it's managed correctly. And sometimes, as in this case, important d…
December 24, 2019
Should a Widow Pay Off Her Mortgage?
real estate

Should a Widow Pay Off Her Mortgage?

For some people who lose their spouse, it could make perfect sense. For others, not so much. Here's how to judge what could be a prudent approach in t…
September 5, 2019
3 Ways to Benefit from a Roth IRA Under New Tax Law, Including a ‘Mega Backdoor Roth’
IRAs

3 Ways to Benefit from a Roth IRA Under New Tax Law, Including a ‘Mega Backdoor Roth’

The tax benefits to Roth IRAs have always been enticing, but now they're even more attractive. Even if you think you make too much to take advantage, …
April 26, 2019