tax deadline extended to May 17

What’s the Right Strategy for You?

This week’s article confirms an announcement recently made by the IRS. “You now have an extra month to lower your tax bill with contributions to your individual retirement account (IRA). Just like last year, the IRS has extended the 2020 tax filing deadline to May 17, allowing Americans an extra month to make IRA contributions that can potentially ease their IOU to Uncle Sam while also helping them save for retirement.” Do you need help deciding what is the right strategy for you with your retirement contribution? Call us. We’re always here to help. READ FULL ARTICLE

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retirement accounts

Retirement Accounts

With deadlines for filing tax returns approaching we are beginning to remind people that the deadline for making their permitted annual deposits into their retirement accounts is also approaching. Even if you have a Roth IRA you may want to consider the different options you have to both accumulate wealth for retirement, or if you are already retired and taking income from your savings, to obtain growth potential without being vulnerable to major long-term downturns in the market. Call us, we’re happy to explain some choices you have and discuss how they may fit into whatever stage of retirement planning

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retirement planning today

Financial Planning Today

This week I thought to refer you to an article that begins with the simple but universal statement “Retirement planning is a multistep process that evolves over time.” The reason I like this statement is that it relates to each of us, regardless of our age. Whether you are at the beginning stages of thinking about your retirement goals and how long you have to meet them, or you are about to begin to withdraw from your savings, planning is needed every step of the way. Call the office if you’d like to review your plan, I may have some

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Civil Service

Federal Question

If you are a Federal civil servant employee and contemplating putting in your retirement papers this year, you may want to verify what your lifetime benefits will be, and how they are calculated. It isn’t just a question of age, which is how most of us think about retirement, it is a question of your years on the job. Take a look at this week’s article, it may help you to have a better understanding of what your financial situation will look like in retirement. Call us if you have any questions or to discuss ways you can supplement the

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outliving your retirement

The Stanford Longevity Project Looks at Annuities

This week’s article references a topic we have been reflecting on over the past few months and that is the understanding that “retirees face a number of challenges to their financial security, including living longer and facing the danger of depleting their savings too soon. The pandemic has further threatened retirement nest eggs, as a growing number of people have needed to take Social Security benefits early, before full retirement age, thus reducing those payments in the long run.” You may be interested in a study by Principal Financial Group in conjunction with the Stanford Longevity Project that discusses these

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plan ahead leave a legacy for your family

Plan Ahead

When we speak about retirement savings, we often talk about products that can provide an income stream you can’t outlive. But, what happens to your money after your lifetime? If you plan on leaving some of your retirement savings to loved ones, we have some ideas that may help. For example, you may be able to leave money to beneficiaries without tax implications. In addition, you may want to consider how the SECURE Act could impact your goals. If you have questions about how to best leave your legacy, call us. We’re here to help

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increase your portfolio

Improving Your Portfolio Return Without Increasing Risk

This week’s article tells us that retirement planning needs to change in this new year and that “it may be time to revisit traditional approaches to retirement planning. The pandemic and near-zero interest rates dramatically changed the environment”. The article continues by focusing on the goals of delaying claiming social security benefits, improving portfolio return without taking on more risk, and improving portfolio longevity. So the question is, how do you accomplish these goals? Call us if you’d like to talk about ideas we have that may help do this. We’re always here to help. READ FULL ARTICLE

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start the new year off right

Start off the new year right

“Figuring out how much money you need to retire is like one of those word problems from high school that still haunts you.” This week’s article tells us that “The retirement equation isn’t unsolvable, but it’s not a precise calculation, either. You’ll need to revisit your retirement formula once or twice a year to make sure it’s on track, and be prepared to make adjustments if it isn’t. Weigh these four factors to get a better handle on how much money you will need to retire”. The beginning of a new year may be a good time to revisit your

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Holiday Stress

Holidays and Financial Stress

Did you know that according to one 2019 survey roughly 48 million Americans were still paying off 2018’s holiday debt by the 2019 holiday season? Therefore, it shouldn’t be surprising that a more recent survey conducted this year by Goldman Sachs found that 50 percent of Americans think gift-buying is the most financially stressful event throughout the year. Perhaps now is the time to make a change. In fact, another survey conducted by Experian “found that 84 percent of people were motivated to improve their finances during the last holiday season.” We’re here to help you do that. Call us,

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COVID and retirement

What matters is if you are concerned

This week’s article highlights a Harris Poll that showed “workers who have been laid off or had their hours reduced amid the pandemic are particularly concerned about their future.” “70% say they are worried about running out of money in retirement, 61% say they are much more afraid of life in retirement, and 61% say the pandemic took the joy out of looking forward to retirement.” What matters is if you are concerned, not the reason why. Call us to talk about some options that may help you to use what savings you do have to provide an income you

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