News & Updates
Taxes On Social Security
Our Clients have come to us asking why they are paying taxes on their Social Security income when they thought it would be tax-free. It isn’t just those that have built significant wealth that will
Bonus Senior Tax Deduction
Because it’s tax time, our clients have been asking questions about how taxpayers ages 65 and older can make the most of the temporary $6,000 senior tax deduction that is in effect for tax years
Timing
When you withdraw your first RMD may impact your taxes. You may wonder how that can happen, and with tax season approaching, we thought it best to draw your attention to a nuance you may
Joint and Why Not?
We’ve received some questions lately regarding joint ownership of an annuity, and why it can’t be done in qualified accounts. Joint ownership of an annuity allows two individuals, usually spouses, to co-own a contract, ensuring
Not Surprising
It is not surprising that the thought of retiring is overwhelming to many due to major life shifts. This could include financial uncertainty, loss of identity, and lack of structure. Studies show that high anxiety
It’s That Time of Year
Since January is a popular month for email scams, here are some tips to help avoid them and keep the good times going all year long. Call us if you’d like more tips on how
Preparing for the Future
Some clients have asked us what the difference is between having a life insurance policy that benefits their family, and having an annuity policy that has beneficiaries connected to it, in addition to the annuity
Choice and Chance
There is no one “ideal retirement.” But there are many ways to have a happy retirement if you have reflected on the choices you have, and what you are willing to leave to chance. The
Longevity
We frequently write about longevity and how important it is to have savings we don’t outlive. And while we’ve always striven to give our clients options for products where the income stream continues no matter
Evolution of Life Insurance
Years ago, it seemed as if the only reason to purchase life insurance was simply to make sure loved ones who depend on your income had what they needed financially after you passed away. Products
Is This Year a Good Year To Retire?
There is nothing generally inherent in any given year that says it’s a bad or good time to retire. The question that needs to be answered is whether you’re ready financially and emotionally. So, how
Behavioral Decision Making
We often think that emotions only impact inter-personal decisions, however making consequential financial decisions in a heightened emotional state also generally isn’t a good idea. Behavioral psychologists have identified a few common biases that can
Just in Case
Late in life job loss can be devastating on many fronts. One area we haven’t discussed before is a different use of an annuity you purchased, originally intending to turn on the income stream upon
Challenges of Aging
Planning for the challenges of aging is one of those situations we are probably inclined not to want to think about, either for ourselves or our extended family. The term “diminished financial capacity” is often
Scams
We wanted to bring to your attention the recent increase in social media scams designed to entice you into fraudulent financial activities. We have probably all received the very real-looking – but fraudulent – emails
Not Just For Men
It’s crucial for women to plan and take control of their finances just as much as it is for men. When an “if only” happens, if you haven’t prepared, you could be left with fewer
RMD Timing
There have been some recent discussions about what the best way is to take out your RMD, and whether it is better to take it out in one lump sum or periodically throughout the year.
Preparedness Plan
Nearing retirement can be a stressful time as we shift from working to provide an income, to needing our money to work at providing that dependable income. Many people underestimate the financial stress of this