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Financially, many of us associate April with taxes – but we should also associate April with important IRA deadlines. *April 1 is the absolute deadline to take your first Required Mandatory Distribution (RMD) from your traditional IRA(s). *April 15 is the deadline for making annual contributions to a traditional or Roth IRA. Let’s discuss the […]
When you turn 50, retirement starts to seem less abstract. In terms of retirement planning, a 50th birthday can act as a wake-up call. It may offer a powerful reminder to trailing-edge baby boomers and Gen Xers, many of whom are wrapping up their second act with inadequate retirement savings for their third. You may […]
A great idea is hard to dismiss. Congress failed to extend the IRA charitable rollover provision into 2014. That took a terrific charitable gifting option off the table, a potential win-win for both non-profits and wealthy households with large IRAs. The IRA charitable rollover let traditional and Roth IRA owners age 70½ or older gift […]
Will you live to be 100? If you’re a woman, your odds of becoming a centenarian are seemingly better than those of men. In the 2010 U.S. Census, over 80% of Americans aged 100 or older were women. Will you eventually live alone? According to the Administration on Aging (a division of the federal government’s […]
When it comes to the question of Social Security income, the choice looms large. Should you apply now to get earlier payments? Or wait for a few years to get larger checks? Here are some factors to keep in mind when making your decision: Consider what you know (and don’t know). You know how much retirement money […]
Just like any major life event, retirement brings about a lot of unexpected changes. Many of these changes will be in lifestyle, hobbies, or location, but the most worrisome for retirees are the unexpected changes with their financial situation. If you are like most of our clients, you have planned well for your retirement, but […]
Predicting the future is not an easy task, particularly in a world that’s begun changing more and more rapidly with every passing day. Unfortunately a lot of people on all sides of retirement find themselves having to do this very thing, having to try and figure out what directions the world will be taking them in […]
In the first part of this article, we discussed several elements that often comprise the shape and tone of a retirement picture, and stressed the importance and absolute need to put some serious thought into how important each element is to you if you want to achieve a picture-perfect retirement. With the guidance of the […]
When you take the time to ponder your retirement picture, how much do you see and how well-focused is the image? A comprehensive retirement plan is, in a manner of speaking, a picture of your future — a future in which an alarm clock won’t likely figure very prominently, if at all, since you’ll no […]
It is no secret that our country’s federal deficit is quite steep, but is retirement savings the correct place to look for money to reduce this problem? Currently, Congress is strongly considering removing all or part of the tax incentives, including pre-tax contributions, for 401(k) plans. This is viewed as a method to increase federal […]