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 »
Selecting a senior living community is a major decision that can greatly influence physical health, emotional balance, and overall quality of life. Whether you are preparing for your own transition or helping a loved one relocate, it’s important to look beyond just the surface-level features during the process. Becoming familiar with the range of senior
What to Look for in a Senior Living Community Read More »
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 »
One of the most challenging aspects of developing a retirement strategy is dealing with uncertainty. Markets fluctuate, tax laws change, healthcare costs rise unexpectedly, and, perhaps most difficult of all, no one knows how long they will live. However, we believe that determining longevity—the number of years a person can live in retirement—is one of
Answering One of Retirement’s Biggest Questions: How Long Will Your Money Need to Last? Read More »
Traditional IRAs, 401(k)s, and other similar retirement accounts enable you to save money before taxes and watch it grow over time. However, the IRS eventually requires you to start withdrawing some of your savings each year. These withdrawals are referred to as required minimum distributions, or RMDs, and the amount you withdraw is taxed at
New RMD Rules For 2025 Read More »
There is no one “ideal retirement.” But there are many ways to have a happy retirement if you have reflected on the choices you have, and what you are willing to leave to chance. The way you answer the following questions may help you decide what may need more thought before you begin your retirement:
Several key updates to the Social Security system will go into effect beginning in January 2026. These changes will affect benefit amounts, retirement age rules, taxes, and the minimum income required to qualify for future benefits. Cost-of-Living Adjustment (COLA): 2.8% Increase The Social Security Administration (SSA) announced a 2.8% COLA for 2026 on October 24.
Changes Coming to Social Security in 2026 Read More »
