Monday, January 23rd, 2017 and is filed under Annuity News, Financial Planning Tips, Retirement Income Annuities
It 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
Tuesday, January 10th, 2017 and is filed under Financial Planning Tips, Uncategorized
Each 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
Monday, January 11th, 2016 and is filed under Financial Planning Tips, Uncategorized
Retirement 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