How the Tax Cuts and Jobs Act Affects You

On November 2nd, following months of buzz but few details, the House of Representatives introduced the “Tax Cuts and Jobs Act”, the opening salvo in what is sure to be a contentious process of turning complex legislation into law before Congress’s self-imposed year-end deadline. Continue reading

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2017 Medicare Open Enrollment Checklist

healthcareIt’s that time of year again. If you’re one of the roughly 45 million Americans enrolled in Medicare, get ready for some year-end shopping. Medicare open enrollment for Medicare Supplement and Advantage plans and Medicare prescription drug plans runs from October 15th until December 7th. Open enrollment presents a great opportunity for seniors to manage their health care costs for the coming year. Continue reading

Life Insurance Awareness: managing policies, and disposing of those you no longer need

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September is life insurance awareness month and serves as a good reminder that life insurance is an asset and, just like most any other investment, requires ongoing monitoring. Continue reading

Highly Effective Social Security claiming strategies designed to maximize your benefits

Money imageSocial Security benefits provide the foundation that most Americans will rely on in retirement, and decisions related to the claiming of benefits can have a profound impact on retirement income and overall quality of life. Despite the heavy reliance on Social Security- it provides over 90% of the retirement income for one in three recipients-less than 5% of seniors avail themselves to strategies designed to maximize their benefits. Continue reading

Making the most of Social Security Retirement Benefits

Beach photoThe importance of Social Security cannot be overstated. The program provides approximately 60% of America’s seniors with half of their monthly retirement income, and for a third of recipients it comprises over 90% of their income. Despite this heavy reliance, less than 5% of seniors avail themselves to strategies designed to maximize their lifetime income and relieve the burden of poverty in old age.   Continue reading

Ready to Retire? How to Properly Frame the Investment Allocation Conversation.

Retirement puzzleYoung investors are often told to embrace risk in their portfolios. The ups and downs of the markets are an ally in the pursuit of long-term growth, and losses only matter when they’re realized. Rarely is this common and often correct advice applied to investors that are nearing retirement. But indeed it should. Not because sixty is the new forty, but because investment allocation decisions should be based on when the invested funds will be needed, not on how old you happen to be. Continue reading

How Planning for a Long Life Impacts your Retirement Income

Nest Egg with large billsRetirement planning involves a delicate balance between adequately planning for a long retirement and maximizing the enjoyment of the money you’ve worked hard to accumulate. In most cases, a retirement that lasts 35 years will require far more financial resources than will one that lasts 20 or 25 years. What is more, the final years of retirement may be the most expensive, as costs associated with chronic or end-of- life care come due. Advances in medical technology have extended life expectancy for many, but certainly not all, demographics. Longevity is a critical consideration of retirement planning, but so too is recognizing that living to an advanced age demands more retirement savings or a lower lifetime income, and whether this is justified based on your current health, lifestyle and family history. Continue reading

Protecting Yourself from Identity Theft

identity-theft-fraudWhile certainly not a new problem, identity theft is a growing concern and has gained the dubious distinction of being the number one consumer complaint addressed to the Federal Trade Commission.

As our lives become increasingly busy and complex, and more information than ever is stored and transmitted on line, it is more important than ever to protect our personal information. Here are some simple and effective ways for you to do that. Continue reading

The Yearly Journey of 1,000 Steps: It’s Tax Season and I Can Do Better

journeyAh, mid-February- that time of year when my postman provides a daily barrage of tax documents, and scolds me for not retrieving them quickly enough. When it finally becomes apparent that he can no longer jam another rumpled envelope into my overflowing mail slot I know it’s time to file my taxes. While this annual ritual often yields a financial reward in the form of a tax refund, there is clearly a higher purpose for the enormous pile of paper. Note to self: my inner guilt will be quelled; this year I will make better use of tax time, and so can you. Continue reading

Making Sense of Roth IRA Conversions

ponder_elderThe Roth IRA has become a popular planning tool since it was established by the Taxpayer Relief Act of 1997. Originally envisioned as a way for Americans of more modest means to efficiently transfer wealth to the next generation, the Roth IRA offers a number of potential advantages over a Traditional IRA that are particularly attractive to those that are more affluent. While there are many variables to consider when determining which type of IRA is best suited to an individual’s needs, the removal of income limits on Roth IRA conversions has made this tool available to wealthier individuals that would otherwise not qualify to make a Roth IRA contribution because of income-based restrictions. Continue reading