Beware Tax Scams

Tax Scams: IRS Dirty Dozen It is tax time, and with it will come many offers to lower your taxes and, in some situations, avoid them altogether. These helpful hints may be grouped together under one heading: Scams. Tax scams are prevalent throughout the internet; here are a few that are so obvious that following [...]

By |2021-08-31T20:16:45+00:00July 18th, 2021|Taxes|

Up Down Up Down Up Down

Is your retirement account acting like a YoYo? With the nightly news comes the report on the day’s happenings in our national stock markets. Every day brings what has happened to America’s investments. The movement in the market affects more than 50% of America’s retirement funds. Some days it increases, and some days it decreases. [...]

By |2020-04-15T20:58:18+00:00January 9th, 2020|Annuities|

Avoid Penalties By Learning These Important Early 401(k) Withdrawal Rules

There are rules which can be followed to allow pre-mature access to your 401(k) account. A 401(k) was created by congress to allow workers to accumulate funds for retirement on a pre-tax basis. Eventually he taxes will need to be paid on your 401(k) retirement plan. Accessing the funds should be done with planning and with the goal of using them for retirement income. Life being full of uncertainty, the funds in your 401(k) can be assessed for other reasons; with that access can come unwanted or excessive taxation and penalty. Make sure you fully understand your options before taking action.

By |2020-04-12T23:30:42+00:00April 25th, 2019|401(k) Rollovers|

What is a Prohibited Investment in an IRA?

The IRS restricts specific investment options for an IRA. These restrictions do not allow investment in collectibles, antiques, and other assets. Here is a list: If an IRA invests in collectibles, the amount invested is considered distributed in the year invested. The account owner may have to pay a 10% additional tax on early distributions. [...]

By |2020-04-15T01:18:37+00:00April 17th, 2019|Retirement Planning|

Why Market Draw Downs Slash Total Retirement Dollars

Will the stock market volatility reduce your retirement funds?   After a productive and too often strenuous lifetime of work, the time comes when we want to rely on the dollars we’ve saved and the income for which we have planned. Many of us saved in qualified funds retirement accounts, such as 401 (K)s, IRA, [...]

By |2020-04-15T01:08:15+00:00March 14th, 2018|Retirement Planning|

The US Treasury, Your 401 (k) and Longevity Income

The Treasury has reiterated the need for “longevity income” for plan participants and outsourcing the responsibility to insurance companies seems like a good fit. Many companies build their portfolio around the need of their customers income needs lasting a long period of time. Insurance companies can reduce the risk of an individual making eh incorrect decision with their important assets.

By |2020-04-17T16:11:17+00:00July 7th, 2013|Annuities, Retirement Planning|