pension
Facts About IRAs
While an IRA may have a lower annual contribution limit (2017: $5,500; $6,500 age 50 or older) than a workplace-sponsored retirement plan, opening an IRA can provide an opportunity to help diversify your retirement assets. An IRA offers certain benefits that are generally not available in a 401(k), such as: Lower cost Larger spectrum of…
Read MoreTax Strategies for Retirement Portfolios
Tax-deferred financial vehicles are an effective way to accumulate assets while you’re working. However, once retired, individuals should carefully consider how (and when) to position assets to help optimize growth and income while reducing their tax liability. The following are some points to remember about distributions. Taxable Investment Portfolio Short-term capital gains are taxed at…
Read MoreRetirement: Spending vs. Income Planning
One common rule of thumb for retirement savings is to replace 80 percent of your pre-retirement income — or an even higher percentage. But what if you currently spend more than you earn? Or what if you spend much less than you earn? Perhaps a better measure would be to base your retirement income on your…
Read MoreThe Old-School Stool
The proverbial “three-legged stool” of retirement funding traditionally comprised Social Security, a company pension and personal savings, but that stool has been wobbly for quite some time. In fact, the traditional pension has been replaced largely by employer-sponsored 401(k) plans. This development firmly places the responsibility of two of the three stool legs on individual…
Read MoreThe Year of Education
Over the years, we’ve used different channels to provide information for retirees in the Twin Cities. Many of you have listened to us on radio and attended one of our summits, seminars, dinners, or personal consultations. We are still offering all of the above and recently added Retirement Elevated, which is a classroom format for comprehensive retirement information, It’s…
Read More