It is not surprising that people tend to compare their financial situation during retirement to others, because money is highly visible in life: through homes, cars, travel, and lifestyle. So it becomes an easy benchmark for perceived success. However, not only do these comparisons rarely reveal the full picture of someone’s debts, obligations, goals, or […]
Money can be a sensitive subject, yet ignoring it can lead to uncertainty, stress, and misunderstandings. Many families discover that discussing finances fosters connections and clarifies goals, tasks, and expectations. Regular financial conversations can help everyone in your household keep informed and aligned, whether you’re preparing for retirement, celebrating major milestones, or discussing inheritance plans.
How to Talk About Finances With Your Family Read More »
When you withdraw your first RMD may impact your taxes. You may wonder how that can happen, and with tax season approaching, we thought it best to draw your attention to a nuance you may not be aware of. Typically, you have until December 31 to take your full distribution—or if you’re taking your first
We’ve received some questions lately regarding joint ownership of an annuity, and why it can’t be done in qualified accounts. Joint ownership of an annuity allows two individuals, usually spouses, to co-own a contract, ensuring income continues for the survivor. This offers security in that it provides income for two people while either is alive.
Joint and Why Not? Read More »
Choosing a senior living community is a life-changing decision that can have a significant impact on physical health, emotional well-being, and overall happiness. Whether you’re planning for yourself or assisting a loved one with the move, it’s critical to go beyond just surface-level questions when making this decision. Understanding your many senior living options and
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It is not surprising that the thought of retiring is overwhelming to many due to major life shifts. This could include financial uncertainty, loss of identity, and lack of structure. Studies show that high anxiety regarding outliving savings and maintaining one’s lifestyle is one of the more common reactions to anticipating retirement. We can help
Since January is a popular month for email scams, here are some tips to help avoid them and keep the good times going all year long. Call us if you’d like more tips on how to avoid getting caught in a scam; we’re always here to help.
It’s That Time of Year Read More »
Some clients have asked us what the difference is between having a life insurance policy that benefits their family, and having an annuity policy that has beneficiaries connected to it, in addition to the annuity having a specific death benefit feature. And that’s a good question, because it addresses the differences between each situation, even
Preparing for the Future Read More »
Managing uncertainty is one of the most difficult aspects of developing a retirement plan. Markets fluctuate, tax laws change, healthcare costs rise unexpectedly, and, perhaps most importantly, no one knows how long they will live. However, we believe that calculating longevity—the number of years a person can live in retirement—is one of the most important
Traditional IRAs, 401(k)s, and other similar retirement accounts enable you to save money before taxes, allowing your money to grow for decades. However, the IRS will eventually require you to begin withdrawing a portion of your savings on an annual basis. These withdrawals are known as required minimum distributions, or RMDs, and the income you
New RMD Rules For 2025 Read More »