If you have been paying attention to the news, you may have heard about the Department of Labor’s long-anticipated fiduciary rule that was passed early this spring. The new regulations that accompany the rule are expected to not only significantly alter how people plan for retirement, but also protect individuals from biased retirement advice. But you may be wondering, what exactly is a fiduciary? A fiduciary is an individual or firm that is committed to putting their client’s interests … [Read more...] about The Importance of Working with a Fiduciary
Stevenson
Planning for a Retirement That is Better Than a Vacation
Some people spend more time planning their vacation than they spend planning for retirement. When it comes to retirement, many Americans don’t know where to begin. It is important to have a retirement plan addressing ways to have income for life. Finding the most efficient and beneficial way to address this may impact your lifestyle, your asset accumulation and your legacy planning after you retire. Satisfying that need for daily income entails first knowing how much you need and when you … [Read more...] about Planning for a Retirement That is Better Than a Vacation
Tax Planning in Retirement: It’s Never Too Early to Prepare
Even though retirees are not working full-time, their tax situation can still be complicated because they may receive investment income, interest or dividend income and or capital gains distributions in a year. Whether they take those monies out or reinvest them, they may not be in as low of a tax bracket as they had hoped. We often receive questions such as, “How can I save on my taxes?” When it comes to saving taxes, most Americans have options. The two most popular options when it comes to … [Read more...] about Tax Planning in Retirement: It’s Never Too Early to Prepare
Maximizing Social Security Benefits
With so many baby boomers on the verge of retiring, Social Security has become a hot topic, especially when it comes to finding out how to maximize one’s benefit. One of the reasons Social Security is such a trending topic right now is due to the fact that, after years of paying into Social Security, the largest generation ever is on the brink of reaping (or has already begun to reap) their benefits. President John F. Kennedy said, “A Nation’s strength lies in the well-being of its people.” … [Read more...] about Maximizing Social Security Benefits
Strategies to Help Avoid IRA and Legacy Mistakes
When planning your retirement, you work with many moving pieces. A beneficial component to retirement planning is implementing strategies that can help you avoid potential mistakes when dealing with individual retirement accounts, known as IRAs, and your legacy. An IRA is an account set up at a financial institution that allows you to save for retirement with tax-free growth or on a tax-deferred basis. There are many types of IRAs: traditional IRAs, Roth IRAs and SIMPLE IRAs – some are more … [Read more...] about Strategies to Help Avoid IRA and Legacy Mistakes
Planning for a Retirement That’s Better Than a Vacation
Some people spend more time planning their vacation than they spend planning for retirement. When it comes to retirement, many Americans don’t know where to begin. It is important to have a retirement plan that considers ways to have income for life. Finding the most efficient and beneficial way to address this may impact your lifestyle, your asset accumulation, and your legacy planning after you retire. Satisfying that need for daily income entails first knowing how much you need and when … [Read more...] about Planning for a Retirement That’s Better Than a Vacation