The Baby Boomer And Retirement Income Specialist Matching Service Goes Active In North Carolina |
April 20, 2012 |
Annuity Basics
The first free online matching service designed to help baby boomers find retirement income specialists in their local communities is now live throughout North Carolina. Annuity123, the online retirement income educational portal, has opened their Annuity Harmony matching service for the benefit of all residents in North Carolina who are in need of retirement income planning guidance. This innovative online matching service is aimed to link retirees with retirement income specialists whose practice is in their local area. Over 30 years ago Americans were forced...
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How Annuities are Taxed |
April 19, 2012 |
Annuity Basics
Although rules vary based on the type of annuity and how you elect to receive your money, the tax rules are not as complicated as many seem to believe. Kimberly Lankford wrote an article called ‘How Annuities Are Taxed’ which explains the taxation of annuities is an easily understood manner. In it, she highlights the various annuity types and gives insightful examples to support her explanations. Overall, the major theme is that all proceeds annuities that are purchased with pre-tax funds will be taxed at...
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Can Annuities be Used to Pay for Long-Term Care? |
April 18, 2012 |
Annuity Basics, Life Insurance, Retirement Planning
Yes, you can transfer money from an annuity to pay long-term-care premiums without owing taxes. This was the result of a tax break that was included in the Pension Protection Act of 2006. Kimberly Lankford posted an article called ‘Use Annuities to Pay for Long-Term Care’ which gives great insight into the advantages that this tax break creates. She gives some powerful examples on how this can be used to both provide themselves with long-term-care while decreasing their taxable gains. For the specifics, please read...
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5 Questions Every IRA Owner Should Ask |
April 17, 2012 |
401k and IRA Blogs, Retirement Planning
Faced with a $1 trillion budget deficit in 2013, the government may be forced to raise taxes on items such as dividend income, capital gains, and even some individual retirement account (IRA) contributions. Each of these items has been proposed in budget planning. However, we have no control over which ones will actually make it through congress. What we at least can control is how well our IRAs are meeting our particular needs. Fortunately, Robert Cirrotti posted an article which describes 5 questions that every...
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How to Create a Pension (With a Few Catches) |
April 16, 2012 |
Income For Life, Retirement Planning, Your Retirement
As employment benefit pension plans continue to decline at fast pace, many Americans are turning to “longevity insurance” to restore some financial security to what are supposed to be their golden years. An article recently posted by Anne Tergesen gives some valuable insight into these private pension plans. Unlike an immediate annuity which starts issuing payments almost instantaneously, a longevity policy involves an upfront payment with a start date selected by the policyholder at some point in the future. For an example of the differences,...
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The Baby Boomer And Retirement Income Specialist Matching Service Goes Active In Massachusetts |
April 13, 2012 |
Press Releases
The first free online matching service designed to help baby boomers find retirement income specialists in their local communities is now live throughout Massachusetts. Annuity123, the online retirement income educational portal, has opened their Annuity Harmony matching service for the benefit of all residents in Massachusetts who are in need of retirement income planning guidance. This innovative online matching service is aimed to link retirees with retirement income specialists whose practice is in their local area. Over 30 years ago Americans were forced by their...
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Do You Need Life Insurance in Retirement? |
April 12, 2012 |
Life Insurance, Retirement Planning, Your Retirement
Along with any other retirement planning tool, specific analysis needs to be applied to Life Insurance to ensure that your specific needs are being efficiently addressed. An article recently published by Jeff Rose sheds some light into key items that you should consider when evaluating if Life Insurance should be part of your overall plan. One key item that he highlights is to be sure that your dependents’ potential needs are included in this analysis. If your children are financially stable, then you of course...
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What to Do With an Inheritance? |
April 11, 2012 |
Annuity Basics, Retirement Planning, Your Retirement
Baby Boomers are expected to inherit roughly $8 trillion from their parents and formulating a plan for receiving that money prior to receipt can pay off in the long run. Sharon Epperson posted an article which describes some key factors to keep in mind when deciding what to do. In it, she notes that the first step in making the most of an inheritance is to outline your financial goals. Many boomers will be able to fund their own retirement and may be able to...
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Are 401(k) Plans For The Benefit Of Workers Or Wall Street? |
April 10, 2012 |
401k and IRA Blogs, Your Retirement
An article came out in SmartMoney last week which highlighted the massive amount of fees that gets generated from 401(k) plans with minimal visibility to the plan participants. The article was titled, “The Big Business of 401k Plans” by Ian Salisbury and poked holes in the current 401(k) system by opening consumers eyes to the billions of dollars in annual fees that these investment banks are making off of them. Don’t get me wrong, the banks should make money and turn a profit. That is...
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10 Tax-Unfriendly States for Retirees in 2011 |
April 9, 2012 |
Retirement Planning, Your Retirement
When contemplating a move prior to retirement, factors such as the location of friends/family, local weather, and recreational activities seem to come to mind first. However, one must not exclude tax law when weighing pros vs. cons because they are one of the largest expenses people face in retirement. Fortunately for us all, a lot of the number crunching has already been performed and the results are highlighted in a recent article posted by Mary Beth Franklin. She describes the various factors that were analyzed...
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