Monthly Archives December 2016

Do You Still Need Life Insurance in Retirement?

For most of your adult life, you’ve protected yourself and your family with life insurance. Having a back-up tool in place to help replace income for your family should you pass away is part of a sound wealth-preservation plan. For some people, once they officially retire and the children move out, canceling a life insurance policy makes sense — but this doesn’t work for everyone. Let’s explore some key reasons you may want to keep your life insurance policy. When You Should Keep Life Insurance 1. You have people financially dependent on you. Do you have a spouse or children
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DECEMBER 21, 2016 – THINKING OF TAKING ANNUITIES WITHDRAWALS? ANSWER THESE QUESTIONS FIRST

For many Americans, preparing to retire takes decades of investing and careful saving so you have the income you need to support your lifestyle. And once that retirement begins, you have to start collecting on your investments into annuities. As you plan for taking withdrawals, here are some key questions to address: 1. At what age can I take withdrawals without penalty? You can start receiving annuity payments without tax penalty once you turn 59 1/2 years old.1 Congress set this limit in order to encourage long-term retirement savings. If you do take payments before you turn 59 1/2, you’ll
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KEY STEPS TO REDUCE THE STRESS OF LOSING A LOVED ONE

When a loved one dies, often we can be overwhelmed with grief and loss. In a perfect world, we’d be given an appropriate grieving period before having to deal with all the decisions and details surround our loved one’s passing. We aren’t given that time, however, and handling the important tasks required after their passing can be stressful. While losing a loved one is never easy, there are ways you can reduce the stress you leave behind for your loves ones so they can spend more time grieving and celebrating your life and less time worry about what needs to
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DECEMBER 14, 2016 – MANAGING TAXES WITH ANNUITIES

With 2016 ending in a handful of weeks, we’ve officially entered into the terrain of year-end tax planning. And if your assets include annuities, then you have specific details to be aware of when managing your taxes. A variety of annuities exist in the market, and their tax rules differ greatly. So, you’ll need to ensure you address the tax liabilities associated with the specific annuities you purchased. You can start by knowing the following details as you prepare for tax season. 1. Making Contributions Annuities allow you to make contributions with no annual limits — unlike your 401(k)s or
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