How To Annuitize Your 401k |
February 27, 2012 |
401k and IRA Blogs, Annuity123, Retirement Planning, Your Retirement
For many years annuities have received some bad press. Big names such as Suzi Orman and Dave Ramsey have made negative comments on certain types of annuities. And even many financial planners bashed using traditional annuities like SPIA’s due to annuitization. You see, annuitization basically means forced income and in some instances your beneficiaries might lose out if you passed away early. There are so many misconceptions about annuities due to these SPIA’s (single premium IMMEDIATE annuities). For instance, the average Joe hears “annuity” and...
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The Sandwich Generation – Part One |
February 24, 2012 |
Annuity123, Retirement Planning, Your Retirement
Dorothy Miller created the the term “Sandwich Generation” in 1981, to describe middle aged adults who found themselves responsible not only for their active children, but also for their aging parents who increasingly needed help with health and daily living challenges. Since then, their numbers have increased. It is true that in other cultures and in the past, multigenerational living arrangements were common, but post-war and mobile societies in western nations are generally centered around the single family unit. Now the current levels in unemployment,...
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The “Stretch IRA” Could Be Finished For Good |
February 15, 2012 |
401k and IRA Blogs, Annuity Basics, Your Retirement
Although as consumers we are not even close to being experts on stretch IRA’s, we are certainly comfortable with the basics. We are also comfortable knowing the powerful value they contain to continue a legacy and to spread out large tax burdens. Well our friends up on Capital Hill (who apparently are experts at finding ways to bleed more taxes out of us) are discussing a proposal that would end the stretch IRA’s for good. As you read the well written article below by Michael...
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Social Security Taxes by State |
February 14, 2012 |
Annuity123, Income For Life, Your Retirement
According to the KiplingerTax Letter June 10, 2011 article, “Retiree Tax Heavens (and Hells)” are as follows: Heavens; Alabama, Colorado, Delaware, Georgia, Kentucky, Louisiana, Mississippi, Oklahoma, Pennsylvania, and South Carolina. Hells : California, Connecticut, Iowa, Maine, Minnesota, Nebraska, New Jersey, Oregon, Wisconsin, and Vermont. Income taxes, sales taxes, real estate taxes, friendliness to pensions, and taxes on Social Security benefits were the considerations in compiling these lists. Not all states made every category. Just in case you’re wondering which states do not tax Social Security...
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Where should you live when you retire? |
February 11, 2012 |
Annuity123, Retirement Planning, Your Retirement
According to Cnn Money , the top places to retire are as follows: Marquette, Mich. Cape Coral, Fla. Boise, Idaho Danville, Ky. Weatherford, Texas Southaven, Miss. But the US News and World Report lists these cities as the Top Ten places to retire: Flagstaff, Arizona – Pleasant year-round weather Boone, N.C. – Affordable mountain town Traverse City, Mich. – Water views on a budget Walnut Creek, Calif. – Greenest place to retire Ithaca, N. Y. – College town for retirees Lincoln, Neb. – Place...
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Beware of Medicare Advantage Plans |
February 8, 2012 |
Annuity123, Healthcare, Your Retirement
One of the most important financial factors in retirement and retirement planning are medical expenses. Medicare coverage has grown much more complicated with the addition of Medicare Advantage Plans, their substantial variability and their rapid growth. One in five Medicare patients (over 8 million) are enrolled in a Medicare Advantage Plan. The largest plans are Humana and United Healthcare. With an “all in one” plan Medicare beneficiaries can avoid the hassle of enrolling with Medicare and prescription drug coverage. From Medicare.gov The Official U.S....
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