An Overview of Roth IRAs for 2020

My Comments: The recently enacted SECURE Act did not fundamentally change the set of rules about accumulating money for retirement. But it did change the landscape for many people. For years, the Roth IRA has seemed like an exotic step-child in the financial planning world. I think this happened because contributions to Roth IRAs generally …

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10 Questions A Couple Should Ask BEFORE Retirement

My Comments: These ten questions deserve answers. However, they assume an existing readiness to retire that may not exist. In my world, there are 8 critical questions that precede these such that a couple, or anyone for that matter, must first ask of themselves, and answer. With millions of Americans arriving at their retirement date …

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How Will The SECURE ACT Impact Your Estate Plan?

My Comments: This Act, signed by President Trump this past December, included several important additions and modifications to existing retirement planning code sections. For example, it changed the age when you MUST start taking money out of your income tax deferred retirement accounts. It gave retirement plan providers the opportunity to include annuities in their …

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1 in 5 Seniors Is Living in Poverty — How to Make Sure You Don’t Become One of Them

My Comments: How long will you live? I have a mea culpa to make. For the first 30 years of my career as a financial professional, I subscribed to the prevailing notion that financial planning efforts should be focused on life expectancy. There are probably still many financial professionals out there making that assumption. It …

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Top Ten Trusts – 7 thru 10

Please note: I AM NOT AN ATTORNEY. DO NOT RELY ON ME FOR LEGAL ADVICE! This is the last installment of Top Ten Trusts. And a reminder there are dozens more than ten but these are the ones I've talked about with attorneys who have advised my clients over the years. Some of these trusts …

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Top Ten Trusts – 4 thru 6

First, I AM NOT AN ATTORNEY. DO NOT RELY ON ME FOR LEGAL ADVICE! Last Friday, I gave you trusts #1 thru #3 of the Top Ten Trusts. my purpose here is to give you a layman's summary of trusts you might use as you plan your financial life into the future. There are many …

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One-Third of Adults Age 50 and Over, Aren’t Prepared For Retirement

That headline should cause Generation Xers and Millennials to pause and consider. It comes from a poll by the Associated Press - NORC Center for Public Affairs Research. And yes, before you read any further, this post is a commercial directed at GenXers and/or Millennials among my readers. (Maybe you could forward this to someone …

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