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Retirement Planning

This category contains 12 posts

Keeping Your Business in the Family

What are some of the issues concerning keeping the business in the family? You may want to keep your business in the family, as opposed to selling it to an outside party or another business. If this is your plan, you should be aware of some of the issues that can contribute to the success … Continue reading

Friday Humor: To A Long and Healthy Retirement

A long-time retired, elderly couple were married for over sixty years. Although the man and women were not poor, they were far from being rich. They managed to get comfortably by skimping and watching their pennies. The elderly man and women were both in excellent health for their age, mainly because of the wife’s insistence … Continue reading

401(k) Rollovers: What to Consider

If you’ve lost your job, or are changing jobs, you may be wondering what to do with your 401(k) plan account. It’s important to understand your options.   What will I be entitled to? If you leave your job (voluntarily or involuntarily), you’ll be entitled to a distribution of your vested balance. Your vested balance … Continue reading

Should You Apply for Social Security Now or Later?

  When should you apply for benefits? Consider a few factors first. Now or later? 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?   Consider what you know (and don’t know). You … Continue reading

When Is Social Security Income Taxable?

     The answer depends on your income   Your Social Security income could be taxed. That may seem unfair, or unfathomable. Regardless of how you feel about it, it is a possibility. Seniors have had to contend with this possibility since 1984. Social Security benefits became taxable above certain yearly income thresholds in that … Continue reading

Retirement Insight: Bankrate’s Best and Worst States for Retirement

WHAT ARE THE BEST (AND WORST) STATES FOR RETIREMENT?Every year, consumer finacial services website Bankrate.com tries to determine them througha survey of financial, health, and lifestyle factors. Its 2016 survey conveys a distinct message: for a nice retirement, avoid coasts and head west. For the second straight year, Wyoming ranked as the best state in … Continue reading

White House Proposes Changes to Retirement Plans: A look at some of the ideas contained in the 2017 federal budget.

 Will workplace retirement plans be altered in the near future? The White House will propose some changes to these plans in the 2017 federal budget, with the goal of making such programs more accessible. Here are some of the envisioned changes. Pooled employer-sponsored retirement programs. This concept could save small businesses money. Current laws permit … Continue reading

2016 Retirement Plan Contribution Limits

Over the past 12 months, consumer prices have increased very little. The latest Consumer Price Index (September) shows 0.0% yearly inflation and only 1.9% core yearly inflation. That means no cost-of-living adjustment for Social Security, and very few IRS adjustments to retirement plan contribution limits.1 Roth IRA & traditional IRA contribution limits stay the same … Continue reading

Social Security: The End of File and Suspend for Married Couples

Congress just changed the Social Security benefit rules. On October 30, Capitol Hill lawmakers approved a two-year federal budget deal. As part of that agreement, they authorized the most significant change to Social Security policy seen in this century, disallowing two popular strategies people have used to try and maximize retirement benefits.1 The file-and-suspend claiming … Continue reading

The A, B, C & D of Medicare

(content for this post provided by third party)   Whether your 65th birthday is on the horizon or decades away, you should understand the parts of Medicare – what they cover, and where they come from.   Parts A & B: Original Medicare. America created a national health insurance program for seniors in 1965 with … Continue reading

Social Security Survivor Benefits: How do you claim them? How much can you receive?

(content for this post provided by third party) About 5 million widowed Americans get Social Security survivor benefits. If your spouse has passed, you may be eligible to collect them. This means that you could receive as much as 100% of your late spouse’s Social Security income.1,2 Some widows and widowers aren’t aware of these … Continue reading

Are Americans Growing More Optimistic About Retiring?

Pragmatism seems to be replacing pessimism, at least. (content for this post provided by third party)     Is it okay to retire today? Many baby boomers shelved notions of retiring during the past few years. Layoffs, the decline in home values, the crushing bear market of 2007-09 – those memories were just too fresh, and … Continue reading

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