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IRS News to Know

As we head into the final quarter of 2017, it’s a good idea to stay cognizant of any tax issues that may affect your finances come April 2018. Now is the time to review your investments and income distribution plans to help ensure you don’t trigger additional taxes or penalties later on. We can help…

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Annuity Options

For retirees concerned about outliving their retirement income, one option to consider is to use a portion of assets to purchase an annuity. Annuities offer many different options, from starting income payouts right away with an immediate annuity to delaying them until a later date with a deferred annuity. An annuity is a long-term contract…

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“Spendaphobia”: The Reluctance to Spend

It is widely recognized that America’s economic growth since the 2008 recession has been slower than that of past recoveries. Some economists believe this is due in part to Americans putting more money into savings and spending less. The desire by a large percentage of the population – including baby boomers – to contribute to their…

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The Power of Meditation

The Science of Worrying Worrying; it’s part of being human. Retirees might be concerned about running out of income, poor health or how the world has changed and what that means for their grandchildren. Parents might worry about everything from money and work to family, health and nutrition. The problem is, the more we worry,…

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Assessing Risk in Retirement Income

When it comes to investing, there’s no such thing as a “safe bet.” Every type of financial vehicle has some level of risk, even checking and savings accounts. Back in the 1920s, people believed that the safest place to keep their money was a bank, and they were right. But as they witnessed during the…

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Trends in Philanthropy

Americans are big givers, data on philanthropic donations suggests. In 2016, we donated more than $373 billion to charitable organizations – a record amount – and Indiana University’s Lilly Family School of Philanthropy projected 2017 would see a 3.6 percent increase in giving. Among the recipients of this largess were progressive causes that appeared to…

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Distribution Strategies

It can take years to build up a retirement nest egg. However, without a prudent distribution strategy in place, funds can drain pretty quickly. About half of larger employers that sponsor a 401(k) plan offer a systematic withdrawal option to help retirees establish an automatic stream of income. If that’s not an option with your plan,…

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Lessons of Youth

Remember your first apartment? As young adults, many of us may have used milk crates as bookshelves, turned wood pallets into a coffee table and picked up odds and ends at yard sales. Walls were bare — and often cupboards — but living with less offered more freedom with fewer possessions to clean, fix and…

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Education Tips for Retirees

You are never too old to learn something new, and that means you even can go back to college if you’re interested in furthering your education during retirement. In fact, by contributing to a 529 college savings plan, you can grow your earnings tax-deferred and then use your qualified distributions to make tax-free tuition payments…

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Is The Recession Really Over?

Although economists say the country has recovered from the 2008 recession, many people nearing retirement age would disagree. In fact, according to a recent study by the Bankers Life Center for a Secure Retirement, only 2 percent of middle-income baby boomers believe the economy has fully recovered. More than half of those surveyed reported that…

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