According to the US Census Bureau, about 1 in 5 people over the age of 60 have married at least twice. However, all marriages are not created equal. The Schwab Center for Financial Research lets us know that “Unlike those just starting out in life, many older individuals have adult children, substantial assets, and established […]
The IRS has strongly urging citizens to do a tax checkup. This may help you steer clear of unexpected tax bills for next year. The agency underlined that a lot of taxpayers would find themselves in a situation wherein they owed taxes if they did not change their withholding or make anticipated payments. Using their
IRS Encourages “End of Summer Tax Checkup” Read More »
An annuity is a financial product designed to provide a regular, guaranteed income stream (backed by the claims-paying ability of the carrier) over a specified period or for the rest of a person’s life. Essentially, it’s a contract between you and an insurance company in which you make a lump-sum payment called a premium. In
We’ve spoken in the past about annual contribution limits into qualified accounts, but have not focused on the nuances of the income limits for tax deductibility of those contributions. It’s very important to speak with your tax preparer, as specific limitations will apply. For example, in the scenario where a spouse has a 401(k) and
Limits on Deductibility Read More »
We’re inundated with so many changes to rules related to retirement, that we oftentimes tell ourselves we can just ignore them and “focus on them later.” However, there are some changes you might want to pay attention to now. For example, the changes made by the Secure Act: Firstly, the Secure Act interest and penalties
According to many experts, knowing your cash flow is the most important piece of information you will need in order to tell if you are not only living within your means, but if you have financial stability. Financial stability in retirement becomes increasingly important the older you get. The reason for that is as we
Financial Stability Read More »
Retirement is the day you leave your job, go home, and never look back. Nevertheless, retirement is not always what is anticipated, and a lot of retirees regret the choices they made before quitting their jobs. How much have you prepared yourself for retirement? How much money will you really need? And what about the
Seven Major Retirement Mistakes Read More »
Wait a minute! Is it 62, 65, 70 or 73? Let’s start to unravel this question. Social Security can be taken at any time between the age 62 and age 70. At the younger age, the SS administration will re-calculate your benefits and make them lower than if you waited, in order to factor in
Continuing on from last week, did you decide what kind of retiree you are? Regardless of whether you think of yourself as the Dynamo, the Philanthropist, the Homebody, or the Adventurer, it is recommended that you start building your strategy early. Along with newfound freedoms, retirement can also mean confronting uncomfortable topics and scenarios. The
So, Did You Decide? Read More »
Bonds and market investments aren’t the only assets with the potential to generate higher income right now. Annuities are also offering bigger payments than they were in years prior. Annuity returns are based on market interest rates. Given that interest rates just recently reached their highest level since 2001, overall conditions are favorable for purchasing
How Higher Interest Rates Impact Annuities Read More »
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**Our products offer a reasonable rate of return, over time.
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Donald L Retallick III, an Investment Advisory Representative (IAR), offers advisory services through Gibbs Wealth Management, an SEC registered investment advisor. The firm only transacts business in states where it is properly registered or is excluded or exempted from registration requirements. Retallick Wealth Management, and Gibbs Wealth Management are independent of each other. Insurance products and services are not offered through Retallick Wealth Management but are offered and sold independently by Retallick Financial Group, FL Lic. #L096591 and Donald L. Retallick III, FL Insurance License #P109239.
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