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Our 7 Point Retirement Planning Checklist Has You Covered

Friday, June 16th, 2017 and is filed under Annuity News, Financial Planning Tips, Retirement Income Annuities, Videos

Retirement Planning ChecklistDo you have a retirement planning checklist that is up-to-date? Unfortunately, most people don’t, and what’s worse, they don’t even have a retirement plan in the first place.

Without a retirement planning checklist or detailed plan in place, it is extremely difficult to feel confident about retiring. You can’t have confidence in something that doesn’t exist.

Did you know that only 18 percent of the American workforce feels very confident in their retirement plan? Read More

Multiple Retirement Accounts – Think Outside the 401k Box.

Wednesday, March 1st, 2017 and is filed under Annuity News, Retirement Income Annuities

Though saving with a 401(K) is easy and you get a tax break, there is also something to the adage that it is possible to have too much of a good thing. Here are three good reasons to think outside the 401k box: Read More

Average Retirement Savings: What’s Right For You?

Monday, January 23rd, 2017 and is filed under Annuity News, Financial Planning Tips, Retirement Income Annuities

Average Retirement SavingsIt doesn’t matter how much money you’re making right now if you don’t put any of it away for retirement. Average retirement savings show that most Americans are about to find out the hard way that they have not saved enough for retirement… not by a long shot.

The average median working age couple only has $5,000 saved for retirement. That likely wouldn’t even cover unexpected medical expenses, much less twenty to thirty years of retirement expenses. Read More

2017 IRA Changes – What You Need to Know

Tuesday, January 10th, 2017 and is filed under Financial Planning Tips, Uncategorized

2017 IRA Changes and What They Mean for Your Retirement AccountEach new year brings change and 2017 is no different when it comes to keeping up with your retirement savings accounts. Here is what you need to know when it comes to 2017 IRA changes.

IRA Charitable Contributions

After age 70 ½, withdrawals from traditional IRAs are required and income tax may be due on each distribution. However, if you’re age 70 ½ and donate all or part of your distribution ($100,000 max) directly to a qualified charity you won’t owe tax on that transaction. Introduced as a temporary measure in 2006, this ruling was made permanent by an appropriations bill in December 2015. Read More

3 Challenges to Retirement Security Success

Monday, July 11th, 2016 and is filed under Annuity News, Financial Planning Tips, Retirement Income Annuities

3 Challenges to Retirement SecurityAmericans today are woefully unprepared for retirement. A 2016 study by the Economic Policy Institute showed that around half of Americans do not have a retirement plan at all and have absolutely nothing saved for retirement. This paycheck to paycheck lifestyle is but one of many challenges to retirement security. In the following, we will examine three of the top challenges to retirement security and offer possible solutions in an effort to draw back, even a few, from the precipice of retirement disaster. Read More

2016 Retirement Plan Deadlines You Can’t Afford to Miss

Monday, January 11th, 2016 and is filed under Financial Planning Tips, Uncategorized

Retirement Plan DeadlinesRetirement planning, while necessary, can be extremely overwhelming. With so many moving pieces and parts that make up the core of your strategy, staying on track takes a significant amount of time and attention to detail. Missing a retirement plan deadline or cutoff may not seem so significant in the present, but a few skipped contributions or enrollment periods can severely impact the success of your financial position in retirement. In order to make the most of what a new year can mean for your future, these nine retirement plan deadlines in 2016 should be at the top of your to-do list. Read More

IRS Announces 2016 401(k) & IRA Changes

Monday, November 2nd, 2015 and is filed under Annuity News, Uncategorized

401k Limits 2016With the promise of a new year comes many things: resolutions, a chance to start over, and, of course, new tax legislation. The Treasury Department announced its inflation-adjusted limits for retirement account contributions, phase out limits, and available deductions for 2016, providing new guidance for Americans in the important retirement planning phases.

Despite hopes of expanded limits and additional savings possibilities, the IRS is not doing taxpayers any favors. With the cost of living index not rising enough to trigger limit increases, many thresholds will remain the same year over year. Read More

3 Tips to Help Bridge the Retirement Gender Gap

Monday, October 12th, 2015 and is filed under Annuity News, Financial Planning Tips, Retirement Income Annuities

Bridging the Retirement Gender GapFrom company profit shares to 401(k) matching, annuity purchases to IRAs for tax benefits, the prompting to think about retirement is virtually ongoing until the day you make the decision to turn off the light in your office for good. With planning and preparation, most men can expect to leave the workforce with enough to retire on, and in most cases, this isn’t far from the truth. Unfortunately, the state of wages in the U.S. leaves almost half of the workforce out in the cold: women. Read More

Understanding the 59 1/2 Rule for IRA Withdrawals

Wednesday, July 1st, 2015 and is filed under Financial Planning Tips, Uncategorized

59 1/2 RuleRetirement accounts come in many forms and offer numerous benefits, ranging from tax breaks to tax-free growth throughout the formative years of your career. Individual Retirement Accounts, better known as IRAs, can provide extensive advantages after the conclusion of employment. Millions of Americans take advantages of IRAs, but this doesn’t mean that they understand how they work.

Many people believe that once retirement hits, retirement accounts are accessible free and clear. This, unfortunately, isn’t the case. There are many rules that govern access to IRA accounts, with age being one of the most important factors in distribution. Read More

Is Obama’s myRA the cure for Ailing Retirement Savings Rates?

Thursday, March 27th, 2014 and is filed under Retirement Income Annuities, Uncategorized

obama-myra-retirement-savings-planWith the familiar stroke of a pen, President Obama directed the Treasury Department to establish new retirement savings accounts aimed at workers with limited access to traditional retirement accounts. The signature formalized a proposal unveiled during the president’s 2014 State of the Union Address. Dubbed “myRAs,”—an acronymic mash-up of “My” and “IRA”—the accounts will kick-in for those making less than $191,000 a year whose employers do not offer retirement plans such as 401ks.

The Plan in Action

The myRA works like this: account holders contribute after-tax income to invest in Treasury bonds and any investment gains and withdrawals are tax-free. Bonds in myRA accounts will offer the same variable interest-rate return as those federal employees get when they enroll in the Thrift Savings Plan Government Securities Investment Fund. Read More