Financial Planning

LEAVING A LEGACY PLAN

LEAVING A LEGACY PLAN

Two things are certain: death and taxes. Some of us grasp that reality early, so we create wills, living trusts and estate plans. Others deny this reality and leave their heirs with perplexing questions, added stress and even anger when they pass away.The truly farsighted among us opt for a full-fledged legacy plan.

It’s Time to Review Your Life Insurance

It’s Time to Review Your Life Insurance

When was the last time you looked at your life insurance coverage? Why not do it now? Life insurance can be a remarkable utility as an estate planning and tax-saving tool. Whether you have no life insurance, or you haven’t reviewed your policy in a while, it is always a good idea to be aware of your options and be prepared.

THE REALITY OF INVESTING DURING RETIREMENT

THE REALITY OF INVESTING DURING RETIREMENT

Decades ago, the “typical” retiree left work for good between age 60-65 and typically passed away at about 70-75. Retirement lasted 10-12 years for many Americans. Now the picture has changed: some of us will spend 30, 40, perhaps even 50 years in retirement. (Imagine retiring at 55 and living to be 105 … it is possible.) We may live much longer than our parents, and if we do, we will need a lot more money.

INVESTING AT AN EARLY AGE

INVESTING AT AN EARLY AGE

You’ve probably been told at least a few times in your life that you should be putting money aside “for a rainy day”, but perhaps it hasn’t yet crossed your mind to begin planning, specifically, for your future retirement. If you think it’s too early, or if you feel you’re not yet ready, financially … think again.

The Importance of TOD & JTWROS Designations

The Importance of TOD & JTWROS Designations

TOD, JTWROS...what do these obscure acronyms signify? They are shorthand for transfer on death and joint tenancy with right of survivorship – two designations that permit automatic transfer of bank or investment accounts from a deceased spouse to a surviving spouse.

WHO IS YOUR IRA BENEFICIARY?

WHO IS YOUR IRA BENEFICIARY?

Do you have an IRA or a 401(k)? You probably do. You may have both of these retirement savings accounts in your portfolio, or accounts that are similar.While IRAs and 401(k)s are commonplace, many IRA owners and 401(k) plan participants have a hard time answering a common question. They aren’t sure who they have named as the account beneficiary.

FIDUCIARY STANDARDS vs. SUITABILITY STANDARDS

FIDUCIARY STANDARDS vs. SUITABILITY STANDARDS

If you meet with a financial professional, be sure to ask a critical question. If you make an appointment with a financial consultant on behalf of yourself, your family or your company, make the following inquiry before the meeting ends:

“Are you held to a suitability standard or a fiduciary standard?”