Author Archive

6 Steps to Financial Literacy

February 23, 2015

While you don’t have to become a financial expert, you should develop an understanding of financial concepts such as these: 1.  The difference between saving and investing: Some people think these are one and the same, but they’re not. The focus in saving is on preserving money that you accumulate over time. Money that is […]

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The 3 Sources of Retirement Income

February 19, 2015

  What Are the Available Sources of Retirement Income? When you retire and your earning power ceases, you will have to depend on three primary sources for your retirement income:   Social Security According to the Social Security Administration, the average retired worker in 2015 receives an estimated $1,328 monthly benefit, about 40% of average […]

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Understanding Required Minimum Distributions

February 12, 2015

The primary  goal of most retirees is to have adequate retirement money they will not outlive.  This goal could conflict withthe objective of the required minimum distribution rule which is to ensure that the entire value of a traditional IRA or employer-sponsored qualified retirement plan account will be distributed over the IRA retiree’s life expectancy. The big question is what happens […]

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What is Trust?

January 25, 2015

The word “trust” is applied to all types of relationships, both personal and business, to indicate that one person has confidence in another person. For our purposes, a trust is a legal device for the management of property. Through a trust, one person (the “grantor” or “trustor”) transfers the legal title to property to another […]

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Free Download- Managing Your Financial Life

January 13, 2015

Taking control of your finances and your financial future can help you reach your desired destinations in life. You want to control your finances, not let them control you.  You can do this by creating a strong financial foundation upon which you then build or live a satisfying retirement. The Managing your Financial Life guide […]

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2015 Chart of Federal Individual Tax Rates

January 8, 2015

Did you have a New Year dream that taxes disappeared? I didn’t think so. 2015 is here and will be over before we know it. Since taxes are fact of life we all must plan with them in mind. Here is a table/chart of 2015 Federal Income Tax Rates for Individuals to help plan ahead.  For […]

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When a Loved One Dies…

January 5, 2015

In order to relieve loved ones of additional stress, anxiety and expense at the time of a death in the family, consider recording as much information as possible in advance and providing copies to family members. Using our When a Loved One Dies Life Guide, you’ll be able to record and share the following information: […]

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What Are the Implications of Dying Without a Will?

December 2, 2014

People who die without a valid will, die intestate. In this event, the state in which they resided effectively provides a will through the state’s intestacy law. This means that the state dictates who will receive the estate owner’s property and in what proportion. While state intestacy laws do attempt to provide for a “fair” […]

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What Is a Power of Attorney?

November 10, 2014

Durable Power of Attorney What Is It? A power of attorney is a written document in which one person — the principal — authorizes another person — the attorney-in-fact — to act on the principal’s behalf. What Authority Is Granted by a Power of Attorney? The authority granted by a power of attorney depends on […]

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Another Role for Life Insurance

October 28, 2014

Another Role for Life Insurance… The Wealth Replacement Trust The Problem: There can be significant tax advantages in giving appreciated assets to a charity. Examples include real estate and securities. If you were to sell an appreciated asset, the gain would be subject to capital gains tax. By donating the appreciated asset to a charity, […]

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Why Should You Consider a Living Will?

October 2, 2014

What Is a Living Will? “Living will” is a term commonly used to refer to a legal document available in most states that allows an adult to state in advance whether or not life-sustaining medical procedures should be used to prolong life when there is no chance for a reasonable recovery. Why Should You Consider […]

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She Solved Her Retirement Needs. And So Can You

September 24, 2014

Need retirement income you can’t outlive? Have coffee with Meg. Take a video break and learn how Meg uses a single premium immediate annuity (SPIA) to alleviate concerns about outliving her retirement assets and being unable to meet monthly expenses. Retire with Confidence People are living longer than ever before, meaning  that unpredictable market performance, higher  […]

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Benefits of Retirement Plan In-Service Withdrawal Make Sense for You?

September 3, 2014

You might know that you can move money from your employer’s qualified retirement plan to an IRA when you leave the employer.  But do you know you may be able to take advantage of this opportunity while still employed by the company?  There can be big benefits to this move. What is an In-Service Withdrawal? […]

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What is the Marital Deduction?

August 14, 2014

What Is the Marital Deduction? The marital deduction (I.R.C. Sections 2056 and 2523) eliminates both the federal estate and gift tax on transfers of property between spouses, in effect treating them as one economic unit.  The amount of property that can be transferred between them is unlimited, meaning that a spouse can transfer all of […]

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5 Reasons People Give

August 7, 2014

According to the Giving USA Foundation, individual giving accounted for 72% of all contributions to charitable organizations in 2012.  Source: Giving USA Foundation™ – Giving USA 2013 Highlights People give to charities for a variety of reasons. They give: Because they have compassion for the less fortunate. From a belief that they owe something back […]

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Teaching Grandkids about Money… Money Does Not Grow on Trees

July 25, 2014

At this point in our lives we’ve raised our own kids and hopefully the values we struggled to impart before they left home have become part of their family lives.  Now they’re raising  our grandchildren and like us, when we were new parents our kids will try to bring all of their life lessons into the mix.  The […]

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5 Retirement Planning Obstacles

July 16, 2014

What Are the Obstacles to Successful Retirement Planning? There are a number of obstacles that you may face in planning for your retirement:  Discipline to Save  Many people find it difficult to form the habit of “paying themselves first,” by making regular deposits to a savings plan.  Saving to Spend  Money is saved for retirement […]

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Return of Money Trumps Return on Money / Happier Retirees

July 9, 2014

Return of Money Trumps Return on Money Gallup March 31,2014 “United States investors are generally a cautious group when thinking about risk versus return options for their retirement savings.” Nearly 2 thirds (66%) of investors surveyed by Gallup said a guarantee that their initial investment was secure even if that meant lower growth potential; outranked […]

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Time to Take Some Risk Money off The Table?

July 1, 2014

Is it time to take some risk money off the table? Not if you believe the market will always go up and that all the risk of future downturns have been made illegal. This graph certainly looks good.  As of June the Bull market has been around for 64 months that’s the third longest bull […]

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What is a Qualified Retirement Plan?

June 25, 2014

  A qualified retirement plan is a program implemented and maintained by an employer or individual for the primary purpose of providing retirement benefits and which meets specific rules spelled out in the Internal Revenue Code. For an employer-sponsored qualified retirement plan, these rules include: The plan must be established by the employer for the […]

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