Retirement News & Updates
Timing
When you withdraw your first RMD may impact your taxes. You may wonder how that can happen, and with tax season approaching, we thought it best to draw your attention to a nuance you may not be aware of. Typically, you have until December 31 to take your full distribution—or
Joint and Why Not?
We’ve received some questions lately regarding joint ownership of an annuity, and why it can’t be done in qualified accounts. Joint ownership of an annuity allows two individuals, usually spouses, to co-own a contract, ensuring income continues for the survivor. This offers security in that it provides income for two
Not Surprising
It is not surprising that the thought of retiring is overwhelming to many due to major life shifts. This could include financial uncertainty, loss of identity, and lack of structure. Studies show that high anxiety regarding outliving savings and maintaining one’s lifestyle is one of the more common reactions to
It’s That Time of Year
Since January is a popular month for email scams, here are some tips to help avoid them and keep the good times going all year long. Call us if you’d like more tips on how to avoid getting caught in a scam; we’re always here to help.
Preparing for the Future
Some clients have asked us what the difference is between having a life insurance policy that benefits their family, and having an annuity policy that has beneficiaries connected to it, in addition to the annuity having a specific death benefit feature. And that’s a good question, because it addresses the
Longevity
We frequently write about longevity and how important it is to have savings we don’t outlive. And while we’ve always striven to give our clients options for products where the income stream continues no matter how long you live, we are still often asked for a ‘number’ so that can
Evolution of Life Insurance
Years ago, it seemed as if the only reason to purchase life insurance was simply to make sure loved ones who depend on your income had what they needed financially after you passed away. Products have evolved along with the passage of time. While life insurance may still seem like
Working After Retirement
Working after retirement brings with it the need to understand certain tax and contribution rules governing the way you can use and/or continue to contribute to the money in your qualified retirement savings accounts. Looking first at continued contributions, in most cases, you should be able to, regardless of your
Is This Year a Good Year To Retire?
There is nothing generally inherent in any given year that says it’s a bad or good time to retire. The question that needs to be answered is whether you’re ready financially and emotionally. So, how do you determine if you are ready? Begin by asking yourself if you have estimated
Behavioral Decision Making
We often think that emotions only impact inter-personal decisions, however making consequential financial decisions in a heightened emotional state also generally isn’t a good idea. Behavioral psychologists have identified a few common biases that can undermine our decision-making skills. While some are rooted in emotion, others are what we think
Just in Case
Late in life job loss can be devastating on many fronts. One area we haven’t discussed before is a different use of an annuity you purchased, originally intending to turn on the income stream upon retirement or leave the funds to beneficiaries. Because different annuities offer different benefits, some provide
Challenges of Aging
Planning for the challenges of aging is one of those situations we are probably inclined not to want to think about, either for ourselves or our extended family. The term “diminished financial capacity” is often bandied about as we age and describes a decline in a person’s ability to manage
Scams
We wanted to bring to your attention the recent increase in social media scams designed to entice you into fraudulent financial activities. We have probably all received the very real-looking – but fraudulent – emails that seem to come from PayPal, Amazon, Best Buy, and McAfee, which ask for us
Not Just For Men
It’s crucial for women to plan and take control of their finances just as much as it is for men. When an “if only” happens, if you haven’t prepared, you could be left with fewer choices. No matter if you’re single, married, divorced, or widowed, there are many reasons why
RMD Timing
There have been some recent discussions about what the best way is to take out your RMD, and whether it is better to take it out in one lump sum or periodically throughout the year. One reason there has been a more vocal debate about this topic relates to the
Preparedness Plan
Nearing retirement can be a stressful time as we shift from working to provide an income, to needing our money to work at providing that dependable income. Many people underestimate the financial stress of this major shift and seek ways to lessen it. We may have some suggestions to do
Federal Retirement
We’ve been having many conversations about the potential impact of the pending legislation, known as H.R.1, which proposes the elimination of the FERS annuity supplement, a move that could drastically alter the retirement landscape for federal workers. The potential impact on federal retirement benefits has sparked widespread debate and anxiety
Which are you more worried about?
The 2025 Annual Retirement Study from the Allianz Center for the Future of Retirement revealed that nearly two-thirds of Americans worry more about running out of money than about death. Many factors and economic pressures contribute to this fear of running out of money. Most cited either high inflation, social