We thought to share with you our thoughts about the growing number of people who are looking to purchase a financial product that incorporates a guarantee on some or all of their retirement income. In the current climate, against a backdrop of rising inflation and a cost-of-living crisis, the benefits and value of a secure income to consumers are very attractive. [...]
There still seems to be confusion among retirees about the changes in the law affecting required minimum distributions (RMDs). Beginning a few weeks ago, on January 1, 2023, the starting age rose from 72 to 73. The new version of the Secure Act will eventually increase the RMD age to 75 in 2033. Pushing back the age for RMDs can [...]
This week’s article reminds us to start saving, keep saving and stick to your goals. “If you are already saving, whether for retirement or another goal, keep going! You know that saving is a rewarding habit. If you’re not saving, it’s time to get started. Start small if you have to and try to increase the amount you save each [...]
This is frequently a question we are asked. This week’s article may help you to think out why you are purchasing life insurance as that answer helps determine the answer to the question of how much you need. Why is that? Because some people purchase life insurance to pay their final expenses, others to create an inheritance or make a [...]
Often when we ask ourselves ‘Have I saved enough for retirement?” we are really just asking if we can afford to give financial gifts or assistance to our children or grandchildren. The difficult part in answering this question is due to the uncertainty of planning for long-term care as we really won’t know what our own needs or life span [...]
You’ve saved for years and have finally retired, and yet, there are so many world events going on, both domestically and abroad that the only constant now is change. The news is full of commentaries about market declines and inflation. What can be done to reduce those risks? Sometimes it is as simple as sticking with quality financial products with [...]
We’ve received questions from some of our readers asking what a hike in the Fed rate means to them, and so we reached out to an investment strategist to see what was being said. “This year’s expected series of rate hikes, the first since 2015, marks the beginning of Fed Policy normalization. But it also has increased market volatility and [...]
This week’s article references a study that found “33 percent of people don’t think they would qualify for life insurance.” We hope that you are not shying away from discussing the topic of life insurance because you think the same way. Purchasing this type of insurance is in fact a big deal, but most likely necessary to make sure your [...]
With the due date for filing tax returns fast approaching, you may be getting ready to make your 2021 contribution into your IRA or other qualified account. Since we are already into 2022 you can take advantage of that and consider doubling down and also making your contribution for this tax year. It gives you that much more time for [...]
With so much going on around us in the market, it is difficult for many of our clients to have time to hit pause and think about the impact of taxes on their retirement savings. We thought to make it easier for you by sharing an up-to-date 2022 Tax Reference Guide for a quick glance at important tax filing information [...]
