Once upon a time, retirement planning was relatively simple in the United States. The reason for this was that employers routinely provided workers with generous pension plans that rewarded lifelong employment and loyalty to the company. In addition, several decades ago a worker could actually expect to be able to survive off of the Social Security benefits he/she would receive after reaching retirement age. Those days are gone though. Today, retirement planning is more complicated and should be … [Read more...] about Should Your Retirement Plan Include an IRA?
Is Using Your 401(k) to Buy Insurance Wise?
While you can use your 401(k) to purchase insurance, whether or not it’s wise depends on your unique situation. Recently, the IRS released new rules allowing for the purchase of annuities with tax deferred retirement plan funds. For many, the attraction of using their 401(k) to pay for life insurance comes from the partially tax-deductible premiums. The Employee Retirement Income Security Act places some limits on the amount of life insurance you can buy; however, those limits fall away after … [Read more...] about Is Using Your 401(k) to Buy Insurance Wise?
Staggering Statistics on Retirement Savings
We’ve heard for quite some time that an increasing (and alarming) number of Americans are not saving for retirement. Even after the recession, analysts are concerned that the priority still hasn’t really shifted when it comes to preparing for the future. Now, though, a new study reveals a different picture – and one that’s causing even more alarm. This new survey “Preparing for Retirement in America,” from the Employee Benefit Research Institute (EBRI) and Greenwald and Associates, reveals … [Read more...] about Staggering Statistics on Retirement Savings
Free Report: The Role of Legacy Planning
Your estate plan is important, but your legacy planning is an important element of passing down what really matters. Topics covered in this whitepaper include: Legacy PlanningFamily BusinessCharity from the HeartThe Material Things Click here to read the whole article or download the PDF. … [Read more...] about Free Report: The Role of Legacy Planning
64 Year Old Newlyweds & Estate Planning
We’re living longer and while most of us have heard the many considerations that we must take into account as our life expectancy increases, there’s another factor that you may not have considered: Marriage. Late in life marriages, as they’re referred to, are becoming more common with our aging society. That means changes to your estate plan are more crucial than ever. It also likely means twice as many new family members, from adult children to grandchildren and sometimes even great … [Read more...] about 64 Year Old Newlyweds & Estate Planning
IRA Beneficiary Trusts for Children
A client announced his only son would be getting married later this year. He’s a proud father and is looking forward to becoming a grandfather. It also has him thinking about his future grandchildren and how important financial planning is. There are many ways we can better protect our children and our grandchildren from a financial stance. We do everything we can to keep them safe for as long as we can from an emotional and physical perspective, but when it comes to planning for the future – … [Read more...] about IRA Beneficiary Trusts for Children
Salem Retirement Planning: Yes, Women Do Have Different Concerns
The difference between men and women and their retirement plans aren’t as similar as some might think. It’s about far more than ensuring the retirement account hits a magic number. The most obvious difference is that women live longer than their male counterparts; in fact, the difference can be five years or more. While many will have the benefit of their husband’s retirement benefits, that’s not always the case. The tides are shifting to some degree, but for those retiring in the next … [Read more...] about Salem Retirement Planning: Yes, Women Do Have Different Concerns
New Hampshire Retirement Planning: The Impact of the Recent Supreme Court Ruling on Inherited Retirement Accounts
The Supreme Court has recently issued a ruling with major implications for inheritors of retirement accounts. In a unanimous decision rendered on June 12th, the U.S. Supreme Court ruled in Clark v. Rameker that an inherited retirement account cannot be exempted from an individual’s bankruptcy estate under the “retirement funds” exemption of 11 USC §522(b)(3)(C). It is well settled law and practice that 401Ks, IRAs and Roth IRAs (among other “qualified accounts”) are exempt under bankruptcy law … [Read more...] about New Hampshire Retirement Planning: The Impact of the Recent Supreme Court Ruling on Inherited Retirement Accounts
