IMPORTANT BIRTHDAYS OVER 50 Tip: Average Benefit. In March 2018, the average monthly Social Security benefit for a retired worker was about $1,410.Source: Social Security Administration, 2018 Most children stop being...
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DEATH IS NO EXCUSE The federal government is an equal-opportunity tax assessor. Even the dead can’t escape taxes. The final accounting required of the deceased is not limited to an estate tax filing, but a federal income tax...
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ESTIMATING YOUR ESTATE TAXES Fast Fact: Estate Tax Changes. In 2010, the estate tax expired. It was reinstated by Congress as part of the Taxpayer Relief Act of 2010, with a maximum estate tax rate of 35% and a unified credit that...
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HEALTHCARE COSTS IN RETIREMENT Tip: Medicare beneficiaries spent an average of $5,503 out of pocket on healthcare in 2013, the most recent year for which figures are available. That includes premiums and costs for things like dental...
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RETIREMENT INCOME AND THE TRADITIONAL PORTFOLIO Taking withdrawals from a traditional portfolio exposes fixed-income investors to “sequence of returns” danger. In other words, experiencing negative returns early in...
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SHOULD YOU BORROW FROM YOUR 401(K)? The average household with credit card debt had a balance of $15,983 in 2017, nearly eclipsing the peak of $16,900 in 2008.¹ With the average credit card annual percentage rate sitting at 14.9%...
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CATCH-UP CONTRIBUTIONS A recent survey found that 17% of people were very confident about having enough money to live comfortably through their retirement years. At the same time, 36% were not confident.¹ Congress in 2001 passed...
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THREE KEY QUESTIONS TO ANSWER BEFORE TAKING SOCIAL SECURITY Social Security is a critical component of the retirement financial strategy for many Americans, so before you begin taking it, you should consider three important questions....
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SYSTEMATIC WITHDRAWALS IN RETIREMENT Many of us grew up with the concept that making regular, periodic contributions to our retirement account was a sound investment strategy. The idea was that, in a fluctuating market, regularly...
Read MorePLANNING FOR THE EXPECTED Perhaps Bette Davis said it best when she observed, “Old age is no place for sissies.”¹ The challenges seniors have met throughout their lives have made them wiser and stronger, preparing...
Read MoreMONEY THAT BUYS GOOD HEALTH IS NEVER ILL SPENT According to the Kaiser Family Foundation, the average person covered by Medicare has out-of-pocket medical expenses in excess of $5,500 a year. Premium costs accounted for 28% of the...
Read MoreINVESTING WITH YOUR HEART Some individuals believe that return on investment shouldn’t be the only criterion for how they invest their money. For them, the social impact of investing is just as important—perhaps, more...
Read MoreMUTUAL FUNDS VS. ETFS Tip: Watch the Account Minimum. Mutual funds often have an account minimum. By contrast, an ETF has no account minimum; you can buy as many or as few shares as you wish. The growth of exchange-traded funds (ETFs)...
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INSURANCE NEEDS ASSESSMENT: FOR EMPTY NESTERS AND RETIREES With the children now out of the house, financial priorities become more focused on preparing for retirement. At this stage, you may very likely be at the height of your...
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GET PAID FOR GOING GREEN Tip: DSIRE is a comprehensive source of information on local, state, federal, and utility incentives and policies that support renewable energy and energy efficiency. Source: DSIREusa.org, 2017 Americans will...
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FOUR STEPS TO VALUING AN ESTATE Determining the value of an estate is a fundamental first step in estate management and a critical requirement for settling a decedent’s estate.¹ How to Assess the Value of an Estate Select...
Read MoreAND THE EXECUTOR IS Tip: Generally, children under the age of 18 cannot be executors. Source: Plea.org, May 20, 2016 In her will, American businesswoman Leona Helmsley left $12 million in a trust fund to her dog Trouble. Her four...
Read MoreA PRIMER ON IRREVOCABLE LIFE INSURANCE TRUSTS I’m proud to pay taxes in the United States; the only thing is, I could be just as proud for half the money.Entertainer Arthur Godfrey1 The irrevocable life insurance trust (ILIT)...
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4 REASONS FOR THE RETURN OF MARKET VOLATILITY Until early 2018, stocks were enjoying their longest period without a five percent pullback in nearly 90 years.1,2 But in early February, that calm came to a sudden and decisive end, as...
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DEBT STRESS The average American household with debt owes $132,158. And credit card debt accounts for $15,675 of that.¹ Little wonder that money worries are a major cause of stress. The Link Between Stress and Health Humans have...
Read MoreCATCH-UP CONTRIBUTIONS A recent survey found that 17% of people were very confident about having enough money to live comfortably through their retirement years. At the same time, 36% were not confident.¹ Congress in 2001 passed...
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HEALTHY BODY, HEALTHY POCKETBOOK Tip: Healthy Targets. Generally speaking, cholesterol should be 200mg/dL or lower. And a good blood pressure level is 120/80 mmHg or less. People save for a variety of things in retirement. Some dream...
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A TAXING STORY: CAPITAL GAINS AND LOSSES Chris Rock once remarked, “You don’t pay taxes, they take taxes.”¹ That applies not only to income, but also to capital gains. Capital gains result when an individual...
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CRITICAL ESTATE DOCUMENTS Financial Documents Joint Ownership Durable Power of Attorney Living Trust What does it do? Enables you to own property jointly with another person Authorizes someone to handle legal and financial decisions...
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ALTERNATIVE INVESTMENTS - GOING MAINSTREAM Recent years have witnessed the mainstreaming of alternative investments for certain accredited investors. In fact, one study found that alternative investments have grown to make up about...
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DOES YOUR CHILD NEED TO FILE AN INCOME TAX RETURN? As parents, we encourage our children to work so they can learn important values about work and independence. At what point, if at all, do children need to file an income tax return...
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CHANGING UNHEALTHY BEHAVIORS Most Americans know the fundamentals of good health: exercise, proper diet, sufficient sleep, regular check-ups, and no smoking or excessive alcohol. Yet, despite this knowledge, changing existing...
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ESTIMATING THE COST OF COLLEGE Tip: Public Costs. Average in–state tuition and fees for public four-year institutions was $9,970 for the 2017-2018 school year. Out-of-state tuition for these same institutions averaged $25,620...
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CARING FOR AGING PARENTS Thanks to healthier lifestyles and advances in modern medicine, the worldwide population over age 60 is growing. The United Nations estimates that by 2050 the number of people aged 60 and older will have more...
Read MoreCHOICES FOR YOUR 401(K) AT A FORMER EMPLOYER One of the common threads of a mobile workforce is that many individuals who leave their job are faced with a decision about what to do with their 401(k) account.¹ Individuals have...
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ALL MUNI BONDS ARE NOT CREATED EQUAL The city of Detroit emerged from bankruptcy in 2014. Still, its previous inability to pay investors left some questioning their long-held assumption about the relative safety of municipal bonds...
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“DIRTY DOZEN” TAX SCAMS TO WATCH FOR Every year the Internal Revenue Service (IRS) releases its list of tax scams, spotlighting the myriad ways that people try to separate you from your money.¹ The 2016 “Dirty...
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CERTAIN UNCERTAINTIES IN RETIREMENT The uncertainties we face in retirement can erode our sense of confidence, potentially undermining our outlook during those years. Indeed, according to the 2017 Retirement Confidence Survey by the...
Read MoreBUDGET CHECK UP: TAX TIME IS THE RIGHT TIME Tip: Be careful with cash. Cash purchases don’t show up on monthly statements, making them more difficult to track. Consider keeping receipts for all cash purchases. Every year, about...
Read MoreA PRIMER ON IRREVOCABLE LIFE INSURANCE TRUSTS I’m proud to pay taxes in the United States; the only thing is, I could be just as proud for half the money.Entertainer Arthur Godfrey1 The irrevocable life insurance trust (ILIT)...
Read MoreHOW WILL WORKING AFFECT SOCIAL SECURITY BENEFITS? In a recent survey, 79% of current workers stated they plan to work for pay after retiring.¹ And that possibility raises an interesting question: How will working affect Social...
Read MoreA PENNY SAVED IS TWO PENNIES EARNED This modern twist on the Ben Franklin maxim reflects the multiplicity of taxes to which earnings are subject in today’s world.¹ Finding ways to manage expenses is one of the cornerstones...
Read MoreDOES YOUR PORTFOLIO FIT YOUR RETIREMENT LIFESTYLE? Most portfolios are constructed based on an individual's investment objective, risk tolerance, and time horizon. Using these inputs and sophisticated portfolio-optimization...
Read MoreA LOOK AT WHOLE LIFE INSURANCE Whole life insurance remains in force for your whole life, as long as you remain current with your premiums. In exchange for fixed premiums, the insurance company promises to pay a set benefit when the...
Read MoreTip: Not Quite Anything. IRAs are free to invest in just about anything, except collectibles such as artwork, rugs, antiques, gems, stamps, and coins, for example. Traditional IRAs, which were created in 1974, are owned by roughly 35.1...
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A CHEAT SHEET FOR SENDING YOUR KID TO COLLEGE College marks a great milestone in a child’s life. It may be the first time he or she will live away from home. Dropping off your child at college may be an experience loaded with...
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ORCHESTRATING YOUR RETIREMENT ACCOUNTS An orchestra is merely a collection of instruments, each creating a unique sound. It is only when a conductor leads them that they produce the beautiful music imagined by the composer. The same...
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BEST PERFORMING ASSET CLASSES According to Yale University's Crash Confidence Index, only about 27% of investors are confident the stock market will not crash sometime during the next six months.1 But if fear leads investors to avoid...
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A LOOK AT DIVERSIFICATION Ancient Chinese merchants are said to have developed a unique way to manage their risk. They would divide their shipments among several different vessels. That way, if one ship were to sink or be attacked by...
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FOUR REALLY GOOD REASONS TO INVEST Forty-six percent of Americans do not own any stocks or stock-related investments, such as mutual funds, according to a recent Gallup poll.¹ Individuals may cite different reasons for not...
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A PRIMER ON DIVIDENDS When interest rates reach historic lows, some investors in search of income-generating investments turn to dividend-yielding stocks. Dividends are taxable payments made by a company to its shareholders. When a...
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ASSESS LIFE INSURANCE NEEDS Tip: Final Cost. Paying for a funeral can be a financial burden on a family. Make sure your estate management will provide your loved ones with sufficient funds to cover this important cost. If your family...
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7 Reasons a Roth IRA May Be a Good Idea for You or Someone You Love It’s almost tax time. During April, many people take advantage of the opportunity to reduce taxes by funding a Traditional IRA. While that makes sense for some...
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A LIVING TRUST PRIMER A living trust is a popular consideration in many estate strategy conversations, but its appropriateness will depend upon your individual needs and objectives. What is a living trust? A living trust is created...
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Start Talking About Retirement If you ask people what creates stress in their lives, money is often at the top of the list. Stress in America: Paying With Our Health found money was a somewhat or a very significant source of stress in...
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CHOOSING A RETIREMENT PLAN THAT FITS YOUR BUSINESS One survey found that 79% of small business owners expect at least some of their retirement income to come from tax-advantaged retirement savings accounts.¹ If you have yet to...
Read MoreA BUCKET PLAN TO GO WITH YOUR BUCKET LIST The baby boomers have re-defined everything they’ve touched, from music to marriage to parenting and, more lately, to what “old” means—60 is the new 50! Longer,...
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Tuesday, August 28, 2018
A BRIEF HISTORY OF ESTATE TAXES Tip: Regardless of your net worth, it’s critical to understand your choices when developing an estate strategy. Federal estate taxes have been a source of funding for the federal government almost...
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Friday, July 13, 2018
Tip: Nearly 70% of workers expect to work for pay in retirement, but only 26% of retirees actually have done so. Source: 2018 Retirement Confidence Survey, EBRI Retirement can have many meanings. For some, it will be a time to travel...
Read MoreTip: How Much? Check your Social Security earnings and see an estimate of your benefits on the Web site, www.ssa.gov. Social Security’s been a fact of retirement life ever since it was established in 1935. We all think we know...
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