Did you know that the National Institute on Retirement Security, “Examining the Nest Egg: The Sources of Retirement Income for Older Americans,” January 2020 reports that 40.2% of older Americans only receive income from Social Security? We believe in supplementing...
What’s the Right Strategy for You?
This week’s article confirms an announcement recently made by the IRS. “You now have an extra month to lower your tax bill with contributions to your individual retirement account (IRA). Just like last year, the IRS has extended the 2020 tax filing deadline to May 17,...
Keeping it Simple
This week’s article provides an easy answer to the question ‘What is an Indexed Annuity’? “An indexed annuity is a type of annuity contract that pays an interest rate based on the performance of a specified market index, such as the S&P 500. It differs from fixed...
Retirement Accounts
With deadlines for filing tax returns approaching we are beginning to remind people that the deadline for making their permitted annual deposits into their retirement accounts is also approaching. Even if you have a Roth IRA you may want to consider the different...
Do Beneficiaries Pay Taxes on Life Insurance
Lately we’re being asked about taxes and life insurance, and whether or not beneficiaries of a life insurance policy have to pay income taxes on that money, or whether the estate has to pay taxes on it. The simple answer is, usually, no. But because there can be...
A simple cure for that risk
A simple cure for that risk This week’s article tells us “experts want you to start saving as soon as possible, no matter what amount you can afford to put away.” The first goal being to simply get into the habit of saving for the future because the future comes...
Evolves over time
This week I thought to refer you to an article that begins with the simple but universal statement “Retirement planning is a multistep process that evolves over time.” The reason we like this statement is because it relates to each of us, regardless of our age....
Commentary: This week’s article tells us that retirement planning needs to change in this new year and that “it may be time to revisit traditional approaches to retirement planning. The pandemic and near-zero interest rates dramatically changed the environment”. The...
Start the New Year off
Commentary: “Figuring out how much money you need to retire is like one of those word problems from high school that still haunts you.” This week’s article tells us that “The retirement equation isn't unsolvable, but it's not a precise calculation, either. You'll need...
Holidays and Financial Stress
Commentary: Did you know that according to one 2019 survey roughly 48 million Americans were still paying off 2018’s holiday debt by the 2019 holiday season? Therefore, it shouldn’t be surprising that a more recent survey conducted this year by Goldman Sachs found...
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This commentary was created by a third-party for the Agent’s use. NTM 08-27.