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Information About Annuities
Annuity: What Is an Annuity?
Annuity: What Is an Annuity? These insurance contracts offer steady income but have some downsides What Is an Annuity? An annuity is a contract between you and an insurance company in which you make a lump-sum payment or series of payments and, in return, receive...
Annuity: Annuity Terms
Annuity: Annuity Terms What Is an Annuity? An annuity is a financial product that pays out a fixed stream of payments to an individual, and these financial products are primarily used as an income stream for retirees. Annuities are contracts issued and distributed (or...
Annuity: Annuity Basics
Annuity: Annuity Basics Information from Insurance Information Institute Annuities are financial products intended to enhance retirement security. An annuity is an agreement for one person or organization to pay another a series of payments. Usually the term “annuity”...
Information About RMD’s
Required Minimum Distribution Calculator
IMPORTANT: The Coronavirus Aid, Relief, and Economic Security Act (CARES) Act of 2020 contains provisions providing a temporary waiver of RMDs for IRAs, 401(k)s and other employee-sponsored retirements plans for 2020. SECURE Act Raises Age for RMDs from 70½ to 72: The...
Ready, Set, RMDs Are Back On Track For 2021
The year 2020 is one of the most eventful in recent times, and changes to the rules that govern retirement accounts are no exception. One of these changes is the waiver of required minimum distributions (RMDs) for 2020. As a result of this waiver, you are not required...
IRS announces rollover relief for required minimum distributions from retirement accounts that were waived under the CARES Act
content from the Internal Revenue Service website IR-2020-127, June 23, 2020 WASHINGTON — The Internal Revenue Service today announced that anyone who already took a required minimum distribution (RMD) in 2020 from certain retirement accounts now has the opportunity...
Information About Financial Planning
What Is a Fiduciary?
In legal terms, a fiduciary is an individual or organization that has taken on the responsibility of acting on behalf of another person or entity with utmost honesty and integrity. For example, bankers, attorneys and officers of public companies are all fiduciaries,...
Compare Investment Fees
LINK: https://www.mywealthtrace.com/compare-investment-fees-calculator
Fee-Only Financial Planner vs. Fee-Based: What’s the Difference?
Fee-only financial planners get paid by you directly; fee-based planners may also earn commissions on products they sell. Ask any advisor how they make money. A fee-only financial planner sounds strikingly similar to a fee-based financial planner, but there’s a big...
Information About Retirement
Retirement Wellness
Retirement Wellness Staying healthy could save you some money. How healthy a retirement do you think you will have? If you can stay active as a senior and curb or avoid certain habits, you could potentially reduce one type of retirement expense. Each year,...
Debunking Common Retirement Assumptions
Debunking Common Retirement Assumptions Don’t fall for these misconceptions. Financial generalizations are as old as time. Some have been around for decades, while others have only recently joined their ranks. Let’s examine a few. Retirement means I can stop...
Are You Retiring Within the Next 5 Years?
You can prepare for your retirement transition years before it occurs. In doing so, you can do your best to avoid the kind of financial surprises that tend to upset an unsuspecting new retiree. How much monthly income will you need?Look at your monthly...