Below you'll find a list of all posts that have been categorized as “Retirement Planning”
If you are opening an (Individual Retirement Account) IRA for the first time or need a refresher course on the specifics of IRA ownership, here are some facts for your consideration. IRA’s in America IRAs continue to play an increasingly prominent role in the retirement saving strategies of Americans. According to the Investment Company Institute (ICI), the U.S. retirement market …
Layoffs are a fact of corporate life as companies cope with economic cycles and global competition. If you get caught in a corporate downsizing and you are not immediately moving to a new employer, you commonly have three options for your retirement plan assets: Leave your money in the current plan. Take a cash or “lump sum” distribution. Transfer …
Marriage affects your finances in many ways, including your ability to build wealth, plan for retirement, plan your estate, and capitalize on tax and insurance-related benefits. There are, however, two important caveats. First, same-sex marriages are recognized for federal income and estate tax reporting purposes. However, each state determines its own rules for state taxes, inheritance rights, and probate, so …
When it comes to investing, many people associate risk with losing money. But investing demands different forms of risk. Understanding each type — and the possible return linked with your retirement portfolio — can help you determine whether your investments are suitable for your situation. Examining Risk and Return Stocks historically have displayed the highest level of market risk — …
Money. It’s hard to get and easy to lose. It doesn’t take long for the wealth you’ve accrued to disappear if you don’t manage your money correctly or have a plan to guard your assets against sudden disaster. Traps like the ones revealed below could easily impede your financial security. Planning ahead can protect you and your family from getting …
If you are thinking about changing jobs, are you aware what your choices are for managing the money in your current employer’s retirement plan? Although many people have chosen to take a cash distribution, there are several options that may benefit you more. Uncle Sam Loves Cash Distributions Taking a lump-sum cash distribution may cause an immediate 20% federal …
Tax filing day has passed us by for another year (unless you are on extension). Most people don’t start planning for their taxes until they start receiving documents. At this point your accountant is a glorified scorekeeper showing you what you owe or what you are getting back. Now is the time to start planning for 2017, especially with all …
When do you want to retire? Yesterday? Is your money going to last? It’s simple. Just tell me when you are going to die and we can come up with the perfect plan for your retirement. If you are like most of my clients, you are working away and putting away money for that future retirement date. But what if …
Kinds of IRAs and Prohibited Transactions You can open different kinds of IRAs with a variety of organizations. You can open an IRA at a bank or other financial institution or with a mutual fund or life insurance company. You can also open an IRA through your stockbroker. Any IRA must meet Internal Revenue Code requirements, which are listed below …
Recently I attended a conference that had some amazing statistics when it comes to generating income. In 1980 to generate $100,000 a year in interest income utilizing shorting term bonds you needed a total of $763, 395. In 2016 to generate $100,000 a year in interest income in short term bonds, you need a total of $13,888,901. You need over …
An ex-wife as a primary beneficiary. Lapsed stock options. No medical power of attorney. What is in common with these items? They are all avoidable. Having been involved in financial services for the past 20 years, I have seen a lot things go wrong. A lot of these issues could have been avoided with proper planning and review. But we …
