We have received a number of inquiries from clients recently about Qualified Longevity Annuity Contracts (QLACs). As with most types of “financial solutions,” the attractiveness of QLACs is in the eye of the beholder. Let’s take a look under the hood!
Read MoreThe SECURE Act 2.0 altered the onset of Required Minimum Distributions (RMDs) from age 72 to age 73. However, the law made no change to the Qualified Charitable Distribution (QCD) rules. So, while a RMD is not required until age 73, a taxpayer over age 70 ½ is allowed to distribute directly from their IRA to their favorite charity and avoid taxation.
Read MoreIf you are over age 70.5, you are eligible to make a qualified charitable distribution (QCD). By doing so, you can benefit your favorite charities, while excluding up to $100,000 annually from your gross income.
Read MoreThere 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.
Read MoreWhen 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?
Read MoreLet’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 90s and possibly their 100s?
Read MoreAs we help clients make long-term financial decisions, we also like to consider the probability of various negative outcomes. While we consider ourselves generally optimistic people, we believe that it is both important and helpful to also think about “worst case scenarios” - those financial uncertainties that have the potential to derail financial goals.
Read MoreOn Friday, March 27, 2020, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law. This $2 trillion emergency relief package is intended to assist individuals and businesses during the ongoing coronavirus pandemic and accompanying economic crisis. Here is a brief summary of some of the major provisions.
Read MoreA question we often get is “How much can I withdraw from my accounts during retirement and not deplete them?” That question coupled with the ideal stock/bond mix makes for an interesting discussion on how probable your retirement goals are.
Read MoreDuring retirement, is it best to take distributions from IRAs, Roth IRAs or personal brokerage or savings accounts? The decision of "Which account?" is an important one with many factors to consider.
Read MoreSocial Security was originally intended to provide older Americans with continuing income after retirement. As people approach retirement, they generally have questions about Social Security and the benefit it provides.
Read MoreIn this article, we wanted to spend some time addressing pension decisions, ideas for strengthening your personal balance sheet and helping you think through how much money you will likely need during retirement.
Read MoreHave you ever heard of an "investment glide path?" It is an important concept for retirees and pre-retirees to consider. Choosing the correct glide path could make an enormous impact on your financial well-being in retirement.
Read MoreThis video discusses several important reasons why tax planning is such an integral component of the financial planning process.
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