Is it Time for Your Estate Plan Check up

It is always smart to review your estate plan periodically to ensure that it will work as you intend when you need it. As we hunker down during the COVID-19 crisis, now is a good time for such a review. Here are six tips to make sure your estate plan is in good health: 1. […]

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Wealth Management Tips for a Volatile Market

You’ve worked incredibly hard to save for retirement. Perhaps you will depend on your 401(k) or other market-based retirement accounts as your main source of income during retirement. Like many Americans, you may have concerns about the volatility of the stock market. The Wall Street community has been in a state of shock after the […]

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SECURE Act: How It Will Affect You and the Beneficiaries of Your Retirement Accounts

On December 20, 2019, President Trump signed the Setting Every Community Up for Retirement Enhancement Act (SECURE Act). The SECURE Act, which is effective January 1, 2020. The Act is the most impactful legislation affecting retirement accounts in decades. The SECURE Act has several positive changes: It increases the required beginning date (RBD) for required […]

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It Can Be an Unpleasant Surprise but a 401(k) Is Taxable

It turns out as a surprise to some retirees but the withdrawals from a 401(k) are taxable. However, it is important to remember that the contributions are beneficial, because they lower taxable income, according to Market Watch in “How 401(k) savers can avoid a nasty surprise come retirement.” However, there’s always payback where Uncle Sam […]

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Ask Your Parents about Their Financial Plans

The key to learning about the financial plans of your parents, is to ask for advice on your plans and then ask about their plans, according to “Ask your folks about their financial plans.” Start by explaining your own plan, how you’ve decided to set up your estate and then ask what they’ve done for […]

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