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Remember Retirement When You Change Jobs

Published on March 25, 2015 By Tim Barton

WHEN YOU CHANGE JOBS You May Have an Important Decision to Make… What to do with your money in an employer-sponsored retirement plan, such as a 401(k) plan. Since these funds were originally intended to help provide financial security during retirement, you need to carefully evaluate which of the following options will best ensure that […]

The 3 Sources of Retirement Income

Published on February 19, 2015 By Tim Barton

  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 […]

Understanding Required Minimum Distributions

Published on February 12, 2015 By Tim Barton

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 […]

What is Trust?

Published on January 25, 2015 By Tim Barton

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 […]

Free Download- Managing Your Financial Life

Published on January 13, 2015 By Tim Barton

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?

Published on December 2, 2014 By Tim Barton

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” […]

What is the Marital Deduction?

Published on August 14, 2014 By Tim Barton

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 […]

5 Retirement Planning Obstacles

Published on July 16, 2014 By Tim Barton

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 […]

Long Term Care Insurance Solution

Published on June 9, 2014 By Tim Barton

  Long-term care insurance purchased today can help provide you with the financial security you need and deserve in your retirement years. By acting today, you will have protection to help pay for whatever long-term care needs a long life brings! Long-term care refers to help with daily activities needed by people with disabilities or […]

IRS Pulls Rug From IRA Rollovers

Published on May 13, 2014 By Tim Barton

In a recent United States Tax Court case, Bobrow v Commissioner, the Tax Court ruled that all IRAs of a taxpayer should be looked at in aggregate when it comes to the one-rollover-per-year rule. Prior to this ruling it was widely accepted, as well as published in IRS publication 590, that the one-rollover-per-year applied to […]

Difficult Pension Benefit Decision

Published on March 6, 2014 By Tim Barton

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 […]

Pay Taxes On What You Spend – Not On What You Earn

Published on February 27, 2014 By Tim Barton

  Taxes are inevitable.  You know that part.  Each April 15, you tally up all of your 1099 forms that you have received and pay taxes on your investments, even if you haven’t actually spent a penny of those dividends and interest earnings.  Unfortunately, the money lost to taxes will never be available to you […]

Retirement Plan Rollover Tips

Published on February 20, 2014 By Tim Barton

Retirement plans come with a wide array of tax code abbreviations IRA, Roth IRA, SEP, 401(k), 403(b), HR10 just to name a few. There are times to consider doing a rollover of these funds. When should you consider rolling over or transferring  your retirement plan? Change of employment– Most retirement plans become what is known as orphaned when you leave the […]

Top 3 Uses for Fixed Annuities

Published on February 15, 2014 By Tim Barton

Do you own fixed annuities? Do you wonder why so many retirees own fixed annuities? The Top 3 Reasons to Own Annuities 46% own annuities to Supplement Social Security and Pension Income Planning Tip Do you receive interest earnings that you’re not using for income? Not only are you paying unnecessary taxes on this money, […]

An Income Annuity Solution

Published on February 9, 2014 By Tim Barton

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 […]

What Happens at an IRA Owner’s Death?

Published on February 4, 2014 By Tim Barton

The following is an overview of the options available to an IRA beneficiary. Depending on the type of IRA, whether or not the IRA beneficiary is the spouse of the deceased IRA owner and the IRA beneficiary’s needs and objectives, different options may be appropriate.  In order to avoid unforeseen and/or negative tax consequences, an […]

Early Retirement Stopped by ACA Premiums? How to estimate your premium and what departments check your records

Published on June 27, 2013 By Tim Barton

Due to the requirements of ACA someone who is planning to retire prior to their Medicare eligibility will need to consider the cost of mandated health insurance.  As implementation of ACA looms closer the estimated ACA (Affordable Care Act) premiums and procedures  are becoming more clear.  Starting in October 2013 Health Care Exchanges will open for business in all 50 […]

Financial Collaboration or Dictation?

Published on May 9, 2013 By Tim Barton

When the market failed the blame game started.  Workers were laid off and they blamed their employers. The government blamed the big banks.  Citizens blamed the government. And clients blamed their financial advisors.  After all wasn’t it the advisor who laid out the financial plan that was suppose to provide the retiree a solid foundation? In […]

RMDs a Danger to Retirement Plans?

Published on April 18, 2013 By Tim Barton

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 […]

Becoming Bag Lady a Fear Still Present

Published on April 11, 2013 By Tim Barton

Despite Growing Status as Primary Breadwinner and Household CFO, Women Still Fear Becoming “Bag Lady” a new  2013 Allianz Life Women, Money & Power Study Reveals.   This is a surprise considering 60% of women say they are the primary breadwinner in their household 54% of respondents describe themselves as the household CFO. 49% sometimes fear becoming […]

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