We’ve heard many times that it’s a good idea for retirees to put off receiving Social Security payments, as waiting can allow you to get more out of them than if you were to start as soon as age permits.  One way to make this more feasible is to include annuities in retirement strategies to create income during the interim years. Annuities are most commonly used by retirees as part of their retirement strategy because they provide a consistent, predictable income source you can’t outlive. Call us, and we can explain in more detail how this product works. We’re always

Retirement is a new beginning. As a new retiree, you enter a new stage of your life, where your time is now regulated by you and you alone, rather than revolving around your work.  Unfortunately, many new retirees find this isn’t what they’d expected it to be. Many people begin to feel bored, and worry about how they’ll spend their time. For some, their health begins to falter and they may even spiral into anxiety and depression.  One way to counteract this decline? Stay as healthy as possible in retirement. And living a healthier (and happier) life starts with being

Starting in 2024, due to the Secure Act 2.0, up to $35,000 of the money in a 529 college savings account to be rolled over to a Roth IRA for the beneficiary of the 529 account. Although funds in a college savings account going unused is rare, it’s not unheard of, and now you may not have to face a penalty for withdrawing those unneeded funds.  For example, a student may decide not to attend college, or choose a more affordable school. In this scenario, the option to potentially move the money from the 529 into a Roth IRA may

We thought we’d bring to your attention an article recently published by AARP that discusses seven different ways retirement income will be different this year:  “For most people, retirement finance is a delicate balance between income that’s likely less than what you made while working and expenses that may be lower in some areas (no more commuting) but considerably higher in others (more prescriptions and doctor visits).” “Year-to-year changes in areas key to retiree life — Social Security benefits, Medicare premiums, tax and savings policies geared for older adults — can have a big impact on that balance, especially as

There was a recent report from the Employee Benefit Research Institute on an analysis of retirement accounts using the 2018 Survey of Consumer Finances. According to the analysis, a $5 million retirement nest egg puts you in the top 0.1% of households. Then, the question becomes: what does $5 million buy you in retirement? What is the best use of that money?  If you’re looking for the best ways to allocate your retirement savings, reach out to us. We might be able to help by pointing you toward options you weren’t previously aware of. Want to secure lifetime income for

If you own a small business or family office you could be required to report ownership details to the federal government… or face stiff penalties and possible jail time. The Corporate Transparency Act went into effect on January 1, 2024, and it requires otherwise unregulated companies to report information about “beneficial” owners, those who own at least 25% of or exercise substantial control over the reporting company, to the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN). Failure to comply could result in fines of up to $10,000 and imprisonment.  This sounds scary, especially because this new law

We all know that complex estates require sophisticated estate planning. If you have a large estate or own a business, only a qualified estate-planning attorney will have the knowledge and expertise to tailor to your specific needs.  Because we have been doing business with you, we may be able to help answer some of the questions you will be asked when you meet with an estate planning attorney. Call us when you’re getting ready for that meeting, and we may be able to help you get documents and information for you, which will help you save time and money at

The younger a child is when you contribute to their 529 plan, the longer the account has to potentially benefit from compound growth. In 2023, individuals can contribute up to $17,000 per year (and couples up to $34,000 per year) without eating into their lifetime gift and estate tax exemption.  For older kids or grandchildren, you could also make tuition payments directly to the school. A benefit of doing this is that direct tuition payments are exempt from the gift tax, which may not be the case with 529 contributions beyond the annual gift tax exclusion.  If you’d like more