Retirement

As year-end approaches, it might be a good time to reflect on if you are allocating funds to be sure to maximize your contributions to tax advantaged accounts. If you can, you should consider making your contributions sooner rather than later. Even though you have until year-end to make contributions to your 401(k), or Tax […]

According to a national survey for LiveCareer in June, about 61% of working Americans are more afraid of retirement than of death. Why is this? The survey suggests the reason is that many Americans are financially unprepared to retire. About 20% of Americans ages 50 and older were shown to have no retirement savings according

We have been asked to explain the reason why some financial institutions ask for the name of a person that is often referred to as a “trusted contact.” There is frequently confusion about what rights that person has, specifically if they have access to any account their name is provided for.  The simple answer is,

We were recently asked why we believe that an annuity can help with your retirement strategy. Three reasons come readily to mind.  The first reason is that they can be used as asset protection. Fixed annuities, for example, are safer for your money than volatile investment options. The second reason is the possibility of a

In the context of bank accounts and who their beneficiaries are, TOD means transfer-on-death, and POD means payable-on-death. These types of designations can play an important role in your estate planning by enabling banks to transfer funds directly to your heirs without the need for probate.  This has a broader ramification than you may imagine.

Retirement is different from your working years–you’re no longer putting in time and collecting a paycheck regularly. Creating a sustainable paycheck in retirement is, however, an art worth mastering. Without a full-time employer, retirees are left with the task of cobbling together a sustainable cash-flow strategy that will not only cover their expenses, but also

Have you ever wondered if working in retirement reduces your Social Security benefits? If you are younger than your full retirement age for the entire year, your benefit will reduce by $1 for every $2 you earn in excess of the [current] annual limit of $22,320. If you start working in the year you reach

According to many experts, knowing your cash flow is the most important piece of information you will need in order to tell if you are not only living within your means, but if you have financial stability. Financial stability in retirement becomes increasingly important the older you get. The reason for that is as we

Continuing on from last week, did you decide what kind of retiree you are? Regardless of whether you think of yourself as the Dynamo, the Philanthropist, the Homebody, or the Adventurer, it is recommended that you start building your strategy early.  Along with newfound freedoms, retirement can also mean confronting uncomfortable topics and scenarios. The

“What kind of retiree are you?” An interesting concept that we had some fun diving into, and wanted to share it with you.  Are you “The Adventurer”? Do you want to stay active, are you in good health, and have you always wanted to fill up your passport pages?  Are you “The Philanthropist”? Do you