It is important to think about your risk/reward ratio tolerance–terms like “conservative” and “risky” can mean different things to different people which is why it is necessary to think it through. This way, you can also get a feel for what level of risk is necessary to try to obtain a return on your investment, […]
Conversions of a traditional IRA to a Roth can differ individual to individual, even where the same sum of money is involved. Let’s take, for example, two individuals, each with $100,000 in a traditional IRA, that the funds were identically invested and would double over 10 years. The tax rate was posed to be 30%.
As year-end approaches, it might be a good time to reflect on if you are allocating funds to be sure to maximize your contributions to tax advantaged accounts. If you can, you should consider making your contributions sooner rather than later. Even though you have until year-end to make contributions to your 401(k), or Tax
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According to a national survey for LiveCareer in June, about 61% of working Americans are more afraid of retirement than of death. Why is this? The survey suggests the reason is that many Americans are financially unprepared to retire. About 20% of Americans ages 50 and older were shown to have no retirement savings according
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We have been asked to explain the reason why some financial institutions ask for the name of a person that is often referred to as a “trusted contact.” There is frequently confusion about what rights that person has, specifically if they have access to any account their name is provided for. The simple answer is,
We were recently asked why we believe that an annuity can help with your retirement strategy. Three reasons come readily to mind. The first reason is that they can be used as asset protection. Fixed annuities, for example, are safer for your money than volatile investment options. The second reason is the possibility of a
Some scams are run on a daily basis, and are so intricately made, they can trick even the smartest of us. The scams we’re talking about come in the form of emails where the sender shows up in your email box as purportedly coming from an entity you recognize, such as the Social Security Administration,
According to the US Census Bureau, about 1 in 5 people over the age of 60 have married at least twice. However, all marriages are not created equal. The Schwab Center for Financial Research lets us know that “Unlike those just starting out in life, many older individuals have adult children, substantial assets, and established
An annuity is a financial product designed to provide a regular, guaranteed income stream (backed by the claims-paying ability of the carrier) over a specified period or for the rest of a person’s life. Essentially, it’s a contract between you and an insurance company in which you make a lump-sum payment called a premium. In
We’re inundated with so many changes to rules related to retirement, that we oftentimes tell ourselves we can just ignore them and “focus on them later.” However, there are some changes you might want to pay attention to now. For example, the changes made by the Secure Act: Firstly, the Secure Act interest and penalties
