Money Saving

Paying the Estate Tax Bill

Posted by on August 25, 2015 at 8:36 am

The federal government will not accept a percentage of your estate as payment for your estate tax bill. Instead, your estate tax bill must be paid in cash, and it must be paid within nine months after your death. If your estate is subject to the federal estate tax, there are FOUR ways to provide […]

7 Methods to Avoid Probate

Posted by on May 26, 2015 at 2:15 pm

Probate is simply the Latin word for prove, which means that the estate probate process is the process by which your will is brought before a court to prove that it is a valid will. The courts charged with this responsibility are generally known as probate courts, which may actually supervise the administration or settlement […]

Free Download- Managing Your Financial Life

Posted by on January 13, 2015 at 2:57 pm

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 […]

What Are the Implications of Dying Without a Will?

Posted by on December 2, 2014 at 10:46 am

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” […]

Another Role for Life Insurance

Posted by on October 28, 2014 at 2:07 pm

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, […]

She Solved Her Retirement Needs. And So Can You

Posted by on September 24, 2014 at 10:20 am

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  […]

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

Posted by on September 3, 2014 at 11:00 am

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? […]

What is the Marital Deduction?

Posted by on August 14, 2014 at 2:42 pm

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 […]

Teaching Grandkids about Money… Money Does Not Grow on Trees

Posted by on July 25, 2014 at 11:13 am

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 […]

Time to Take Some Risk Money off The Table?

Posted by on July 1, 2014 at 12:04 pm
Chart forS&P 500 (^GSPC)

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 […]

Marriage Penalty Relief

Posted by on April 28, 2014 at 1:21 pm

  A married couple may file a joint tax return and be treated as one taxpayer, so that taxes are paid on the couple’s total taxable income. While a married couple may file separate returns, this usually results in higher taxes than filing jointly. The so-called “marriage penalty” results when the combined tax liability of […]

Difficult Pension Benefit Decision

Posted by on March 6, 2014 at 5:02 pm

At retirement, if you have a pension, you have to make a difficult decision that could negatively impact your future financial security and that of your spouse.  Most people with company pension plans give this decision little thought and simply select the first payout option listed on their pension estimate; Joint and Equal Survivor Option. For […]

An Income Annuity Solution

Posted by on February 9, 2014 at 5:13 pm

How Can an Income Annuity Protect Against the Risk of Living Too Long? The purpose of an annuity is to protect against the financial risk of living too long…the risk of outliving retirement income…by providing an income guaranteed* for life. In fact, an annuity is the ONLY financial vehicle that can systematically liquidate a sum […]

Retirement Savings Tax Credit

Posted by on February 3, 2014 at 7:27 pm

What Is the Retirement Savings Tax Credit? This is often an overlooked tax credit. Remember you have until April 15, 2014 to make your 2013 IRA contribution.  The Retirement Savings Tax Credit dates back to the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA 2001)which  introduced a new temporary tax credit for IRA contributions and elective deferrals […]

WI Health Insurance Companies May Extend Renewals

Posted by on November 21, 2013 at 11:57 am

This could be some money saving good news for Wisconsin residents who have or would have received nonrenewal notices from their health insurance company.   On November 21, 2013 Wisconsin Office of the Commissioner of Insurance issued a bulletin to the state’s health insurance companies- Consistent with state requirements and the Office of the Commissioner of […]

Which Way is the Market Going?

Posted by on June 24, 2013 at 3:36 pm

Stock market indexes have been for the most part rising this year;  high enough that some portfolios have made up for their losses from the last market decline.  Some investors and their advisors are starting to think of themselves as Albert Einstein’s of the market investing.   Although over the last 40 years I have yet to meet one […]

RMDs a Danger to Retirement Plans?

Posted by on April 18, 2013 at 3:42 pm

Government regulations dictate senior’s retirement income plans.  The question; Is this government “retirement plan” the best option? If they have a traditional IRA, 401(k) and/or any other qualified retirement plan they must take Required Minimum Distributions (RMD) upon reaching age 70- 1/2.  If they do not take RMD as required the penalty is a harsh 50%.  Most seniors follow the RMD plan so […]

What’s the Problem with a Pile of 401(k) Money?

Posted by on April 2, 2013 at 1:11 pm

Smart retirement planning has become all about the income, as in how much and for how long.  Last year the Journal of Financial Planning conducted extensive research into retirement portfolio withdrawal rates. They concluded the traditional 4% rule was too risky because it leaves a retiree with an 18% chance of portfolio failure; that’s about […]

Roth IRA Enhancement

Posted by on March 17, 2013 at 11:10 am

The Roth IRA may be one of the most under used retirement income strategies.  Due to the deductibility of other retirement saving plans like Traditional IRAs and the 401(k); Roth IRAs are usually just an afterthought. After all who does not want to pay as little income tax as possible?  It seems a very simple […]

New Battery Recharges in 2 Seconds

Posted by on February 24, 2013 at 9:18 am

Throughout history many of the greatest discoveries and inventions happened by accident, someone trying to solve an unrelated problem. Imagine if we had a battery in all of our devices that charged in seconds rather than hours or days. Well actually its a capacitor not a battery but I’ll let the video explain the difference.   […]