Families of those with special needs have historically had limited options when accumulating funds for their loved one’s future. Especially, without jeopardizing their continued eligibility to Medicaid and other support programs. As surprising as it may seem, accumulating as little as $2,000 in a disabled person’s name could potentially render them ineligible to receive much needed assistance and access to …
Asset “location” – which types of investments should be held in which accounts -is different based on your stage in life. An accumulator and a retiree should have a different investment strategy.
We are often asked by clients if there is a way to link their TD Ameritrade or Charles Schwab brokerage accounts to their checking accounts so that they can transfer money back and forth between those accounts. While there are a number of ways to accomplish this task, the easiest is to logon to your TD or Schwab account and …
Happy 2017! As we begin a new year, it’s always important to re-examine certain elements of your financial plan – especially things that relate to tax planning. Here are a few of the more common items that may impact your financial situation this year. Social Security & Medicare Part B For those receiving Social Security, there is a cost of living …
If you’re 10 years or so away from retirement, you’ve probably spent at least some time thinking about what your life will look like after retirement. How will you manage the transition? Will you travel, take up a new sport or hobby, or spend more time with friends and family? Should you consider relocating? Will you continue to work in some …
On November 2, 2015, President Obama signed into law the Bipartisan Budget Act of 2015, legislation that raises the federal debt limit and establishes the framework for a two-year budget deal. The legislation, necessary to avoid an impending default on U.S. debt, also contains multiple unrelated provisions, including an elimination of two Social Security retirement benefit claiming strategies and a …
There is no doubt that pensions are an extremely important asset and making decisions regarding these plans can be daunting and stressful. This is especially true since pension decisions are irrevocable! This article addresses common questions that should be considered when making decisions about your pension.
Normally, when someone mentions hybrids they are referring to fuel-efficient, money-saving cars. Like hybrid cars, the intention of hybrid long term care insurance policies is to provide cost-saving insurance coverage by combining both life insurance (or an annuity) with long term care coverage.
Many people have questions regarding their Social Security retirement benefits. This article addresses several of the more common questions that people often ask us.
When it comes to taking account distributions in retirement, which account is best – IRAs, Roth IRAs, Brokerage accounts or 401k plans? Also, are there tax strategies that could be employed now to minimize taxes in the future?
With over 20 years in the investment industry, we have helped clients navigate through a number of economic and market cycles. Through the years, we have developed our own set of descriptive names that are used as an indication of where we are in the market cycle. These names are generally based on client emotions and range from “malaise” to “exuberance”. Currently, we are in what we call the “investor complacency” phase.
Chip Hymiller, CFP® was recently interviewed on the show Community Matters with host, Bill LuMaye. The topic for the show was financial wellness. Chip’s segment of the show highlighted the need to prioritize financial goals, manage debt and develop a strategic long term plan.
Do you know what to expect when it comes to the cost of health care during retirement? Projecting health care costs is a major component for those who are approaching retirement. Find out how much you could spend.
Is it best to contribute to your company sponsored 401k plan, a Roth IRA, or a personal brokerage account? The answer depends on many factors.
Let’s face it, seniors today are healthier, more active and are likely to have longer lives. So what are the financial implications for retirees who will likely live well into their 80s and possibly their 90s?
With the changing of the year, it is important to review your retirement savings strategy. Here are the 2014 contribution limits for the most common types of retirement plans.
When taking withdrawals from your investment portfolio during retirement, making tax-efficient decisions can save you thousands. Find out how…
When planning for retirement, it is important to consider the possibility of an extended need for long term care. Can your assets withstand the cost of long term care? Under what circumstances should long term care insurance be considered?
For the last several weeks, the media spent a great deal of time covering the fiscal cliff and the upcoming changes in the tax code. At the eleventh hour, Congress passed the American Taxpayer Relief Act of 2012 that seeks to solve some of the tax questions that have been hanging over our heads for the last several months.
Contribution limits to IRAs and other employer-sponsored retirement plans have changed for 2013. Here are the most recent deferral limitations:
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