Preparing Your End of Life Plan
We all know by now that we ideally should have a financial plan to guide us through our earning years so that when we finally arrive at retirement’s doorstep, we can live comfortably and worry-free. However, our work is not quite finished yet. While retirement for some can last 30+ years, one never knows when […]
Tax Strategies for Charitable Donations
This time of year we are more apt to count our blessings and give some of what we have harvested to others in need. One of the most popular charitable income tax breaks of the last several years is the ability for those age 70 ½ or older to make charitable gifts of up to […]
Recent Changes in Filing FAFSA Form for Financial Aid
In September, President Obama signed an executive order implementing some important changes to the financial aid process including a couple of changes related to the filing of the Free Application for Federal Student Aid (“FAFSA”) form. The first change is the date to file the FAFSA form. The date has been moved to October 1st, […]
Lump Sum versus Fixed Annuity Payments
Determining whether one should take a lump sum payment from your company pension plan or defer those payments by receiving annuity payments over your life can be a difficult decision. This is a decision many soon-to-be retirees may face if their employer has funded a pension or annuity for you during your career. When faced […]
Longevity Insurance and Qualified Longevity Annuity Contracts
Longevity insurance, commonly referred to as a longevity annuity, is a deferred income annuity. Deferred annuities promise to pay a specific monthly income amount for life beginning at a future date in exchange for an immediate lump-sum premium payment. However, up until recently, they were not as attractive to purchase with qualified retirement plan funds […]
The Basics of Investing in a Roth IRA
As a wealth manager, we get asked a common question all the time: “Where should I be saving my money?” In our opinion, there are three potential buckets to put your money – taxable dollars, tax deferred dollars, and Roth IRA dollars. Each bucket has different rules associated with it and each has its own […]
Retirement Income Strategies for Rising Medicare Premiums
We recently wrote about Medicare premiums and discussed how high earners may be affected by those premiums. The premiums can be substantial and can have a huge impact on a retiree’s discretionary income. You can click here to read the previous article. This article is “part 2” of that article and discusses ways to lower […]
WHAT DO RISING MEDICARE PREMIUMS MEAN FOR ME?
What does the number $491,039 mean to you? According to Jester Financial Retirement Health Care Cost Calculator, it is the amount the average 65 year-old couple today will pay, taking into account inflation, in health care costs during a 20-year retirement. Most people are aware that health care costs have been dramatically increasing for years, […]
The Harvester – April 2015
“There are persons who constantly clamor. they complain of oppression, speculation and pernicious influence of wealth. They cry out loudly against all banks and corporations, and a means by which small capitalists become united in order to produce important and beneficial results. They carry on mad hostility against all established institutions. They would choke the […]
What Does Receiving a Tax Refund Mean For Me?
If you receive a tax refund when filing your tax return, it means your tax liability is less than what you paid the government in taxes. In other words, throughout the year you paid the government more than you were required and you are being refunded the excess. On the surface, it may be nice […]