The Importance of Naming Beneficiaries

By Bill Gordon, AIF® A major issue in estate planning is whom to name as beneficiaries on life insurance policies, pension plan accounts, IRAs, and annuities. This important decision often doesn't consider the substantial estate and income tax consequences the beneficiary may incur. So, before you name a beneficiary, you may wish to gain a … Continue reading The Importance of Naming Beneficiaries

Retirement Plan for Over 50: How to Catch Up on Retirement Saving

By Bill Gordon, AIF® Are you worried that you may not have enough saved for retirement? If you’re 50 or older and don’t have as much as you would like in your retirement nest egg, you’re not alone. One study from Ohio State and the University of Alabama found that 27% of 55- to 60-year-olds in … Continue reading Retirement Plan for Over 50: How to Catch Up on Retirement Saving

Retirement Plan Contribution Limits Rise for 2018

Slight increases have been made due to mild inflation. You will able to put a little more into your workplace retirement account in 2018. The federal government has boosted the annual contribution limit on some of the popular qualified retirement plans thanks to inflation and made other adjustments worth noting. Contribution limits for 401(k)s are … Continue reading Retirement Plan Contribution Limits Rise for 2018

The A, B, C, & D of Medicare

Breaking down the basics & what each part covers. Whether your 65th birthday is on the horizon or decades away, you should understand the parts of Medicare – what they cover, and where they come from. Parts A & B: Original Medicare. America created a national health insurance program for seniors in 1965 with two … Continue reading The A, B, C, & D of Medicare

Think About Your Lifestyle Before You Retire

Sometimes planning for retirement isn’t entirely about money. How many words have been written about retirement? It’s a preoccupation for many, and we devote so much time, thought, and energy toward saving for the last day we go to work. Saving and investing in such a way that we no longer have to work may … Continue reading Think About Your Lifestyle Before You Retire

What is a SEP IRA?

As Director of Retirement Plan Services, this is a question I hear frequently. A Simplified Employee Pension plan (SEP) is an easy, low-cost option for small business owners to provide retirement benefits for employees (including themselves). This retirement plan option allows for an employer to contribute directly to an individual retirement account for all employees. … Continue reading What is a SEP IRA?

The Many Benefits of a Roth IRA

Why do so many people choose it rather than a traditional IRA? The Roth IRA changed the whole retirement savings perspective. Since its introduction, it has become a fixture in many retirement planning strategies. The key argument for going Roth can be summed up in a sentence: Paying taxes on retirement contributions today is better … Continue reading The Many Benefits of a Roth IRA

When Is Social Security Income Taxable?

The answer depends on your income. Your Social Security income could be taxed. That may seem unfair, or unfathomable. Regardless of how you feel about it, it is a possibility. Seniors have had to contend with this possibility since 1984. Social Security benefits became taxable above certain yearly income thresholds in that year. Frustratingly for … Continue reading When Is Social Security Income Taxable?