Monthly Archives November 2016

SOCIAL SECURITY IN 2017: WHAT YOU NEED TO KNOW

Social Security Whether you’re planning on spending your hard-earned retirement nest egg traveling the world, playing as much golf as you can get in, or spoiling your grandchildren, there’s one thing you’ll have in common with every other retiree – you’ll need a solid retirement plan to make those dreams come true. This can be a concerning idea for many people retired or planning to retire in the near future. We’ve met individuals who are too worried to let go of their careers, concerned about making ends meet, or scared of what should happen to their nest egg if their
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NOVEMBER 28, 2016 – MANY REASONS TO GIVE THANKS

Your Beneficiary Planning — Life Insurance and Annuities Investing brings with it a world of planning complexities to navigate as you pursue your unique financial goals. And your beneficiary planning when you have life insurance and annuities is no different. Because your estate includes a variety of assets, you must effectively and strategically address your life insurance and annuities. At its heart, beneficiary planning is really about addressing what legacy you want to leave, how, and to whom — all of which are connected to your life insurance and annuities. As you work with your trusted advisors to plan your
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NOVEMBER 23, 2016 – WHY AN IMMEDIATE ANNUITY CAN HELP YOUR RETIREMENT INCOME

No matter what life stage you’re in, making sure you have the income you need for retirement is an ongoing planning need. However, fewer than half of Americans are prepared to afford at least 80% of retirement expenses1. Retirees have a variety of financial options for building income streams, and your unique needs will guide which options are right for you. During retirement, you may find that you need supplemental income to carry you through. If you’re already retired and need an income boost, one investment strategy worth considering is an immediate annuity. What Is an Immediate Annuity? With an
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NOVEMBER 16, 2016 – FUNDING A SPECIAL NEEDS TRUST WITH LIFE INSURANCE

Managing your family’s financial needs requires daily, ongoing oversight and planning if you want to uphold lifelong wellness. And for families who have loved ones with disabilities, the planning needs become even more intricate. You must look out for your own ability to support your family while helping to ensure financial independence for your loved ones who need ongoing care. Many families who have members with a disability address their financial goals by taking out a Special Needs Trust (SNT). How a Special Needs Trust Can Help Families When a family takes out an SNT for a loved one with
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NOVEMBER 9, 2016 – OWN A SMALL BUSINESS? ADDRESS THESE FINANCIAL ITEMS FOR YOUR RETIREMENT

Owning a small business can be an incredibly rewarding experience. But, when you’re your own boss, you also control your business’ destiny — which can directly affect your own life outside of being a business owner. And in order to retire, your planning has unique needs. To help you make sure you’re taking proper steps, here are three key actions worth addressing today. 1. Solidify Your Exit Strategy According to U.S. Trust’s Wealth and Worth Study, nearly 2/3 of business owners don’t have succession plans1 — meaning they’ve lined no one up to either buy or take over their business.
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HAVE YOU TAKEN YOUR RMD YET?

IRA, RMD I want to share an unfortunate story with you. Years ago, we had a man come in to our office to visit us. He was in his mid-70s and his IRA had already transitioned into its income phase, meaning he had to take his Required Minimum Distributions (RMDs) every year. He was a responsible man and had filled out all the paperwork but didn’t want to send the papers in until closer to the holiday season. As the time drew nearer, this man suffered a heart attack. While it wasn’t fatal, it was serious enough that he spent
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DREADED WEP STRIKES AGAIN FOR SOCIAL SECURITY BENEFICIARY

Retirement Income I recently read a USA Today article wherein the WEP, or Windfall Elimination Provision, greatly reduced the Social Security benefits of someone who was eligible after paying into Social Security program for the 40 quarters required. The text of the article is below: “Q: I was born in 1953. I worked and paid into Social Security for at least 40 quarters. I became a California teacher when I was 34. I will be retiring when I am 66. Is it true that I will not be eligible to receive Social Security? — Teri Castro, California A: Because you have
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Which Annuities Income Option is Right for You?

So, you’re looking to save more money to support the income you need in retirement and are considering or want to revisit your annuities. As a retirement-income investment, annuities can help you grow tax-deferred savings until you’re ready to withdraw your funds, which you can start doing at age 59 1/2. But, did you know that you have different income options to choose from? Deciding which annuity to invest in will depend on your unique financial and retirement goals — and your income needs. Here’s a breakdown of the different options available to help you make the right choices. Payments
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