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Social Security

Social Security One way you can minimize taxes on Social Security is by lowering your other income, especially investment income. But you should be aware that municipal bond interest, which is usually tax free, counts as income for the purpose of calculating the tax...

Estate Planning with IRAs

Estate Planning with IRAs Let’s talk traditional IRAs. A traditional IRA, or individual retirement account, is a personal retirement account that offers certain tax benefits. Number one, contributions may be tax deductible. Number two, while your money is inside the...

Procrastination

Procrastination Everybody has an estate plan. If you don’t createone, on purpose, through carefully drafted wills,trusts, and other documents, then your state lawswill step in with a plan of its own. These laws, alsocalled intestacy, dictate who will get your...

Equal Distribution to Heirs

Equal distribution to your heirs Most people have great love for all of their children,and they want them to share equally in their estates.An admirable intent, but “equal” is not the samething as “equitable.” While dozens of examplesexist, a common problem, often...

Questions about Qualified Money?

What Questions should you be asking about Qualified Money? Most retirees will rely on qualified money. It means that besides Social Security, almost everyone is going to have to rely on and efficiently utilize their IRAs, 401(k)s, 403(B)s, etc. When it comes to your...

Women and Wealth

WOMEN AND WEALTH What women should know when planning for retirement. If you haven’t done so already, take a minute and think about what your retirement looks like. What does it feel like? Truly try to picture it. There are several questions you should ask yourself....

Politics

Politics Regardless of where you stand when it comes to politics, I think it’s safe to say we all agree that the code is overly complicated. Even with the recent tax reform, it can still be confusing. Think about it, even Albert Einstein, who helped develop...

Pensions

PENSIONS   Imagine that babies being born today may just not live to 100 years old or even 125 years old. Imagine if they were to live to 142 years old.  But let’s look at you folks. If you’re a male age 65 today, you have a 50% chance of living to at least 85...

Taxes in Retirement

Taxes in Retirement   As you know, one of the most important parts of your retirement planning, taxes. More specifically, how taxes can influence your retirement income planning, including the effects of taxes on your qualified money, Social Security and other sources...