Is It the Right Time to Reallocate Your Insurance $$$?
As Baby Boomers approach retirement they often ask the questions: Should I continue to keep my life insurance policies? Should I continue to pay for my long-term disability insurance policies? Is there somewhere else that these premiums would be better spent? There is no simple answer to these questions, but a good start is to […]
Medicare and Employer Health Coverage
You're eligible for Medicare! But what if you're still working and have health insurance? Here are your choices.
NJ Property Tax Relief Program Updates
You may be eligible to receive property tax relief from the State of NJ. Here's what you need to know.
Social Security Benefits Will Increase 1.3% in 2021
Social Security and Supplemental Security Income (SSI) benefits for approximately 70 million Americans will increase 1.3% in 2021.
Important Updates to the Senior Freeze (Property Tax Reimbursement Program)
There's some positive tax news for seniors this year! The 2019 Senior Freeze Program will be fully funded. Learn more.
Budgeting for Retirement
When retirement is near, budgeting is critical. It could mean the difference between enjoying your retirement, and outliving your money.
August 31 is the Deadline to Roll Back RMDs
Did you take an RMD before the CARES Act passed? There's still time to roll back your withdrawal.
Avoid These Pandemic-Prone Mistakes When Planning for Retirement
Planning for retirement, especially during a pandemic, can be stressful. Avoid these retirement planning mistakes to ensure you achieve your retirement goals.
SECURE Act Webinar Recording Available Now
There is a high likelihood the SECURE Act will affect your retirement and estate planning. Passed into law in December 2019, the “Setting Every Community Up for Retirement Enhancement (SECURE) Act” created the most significant changes to retirement income planning since 2006. More than 100 people attended our webinar on February 12 to learn how […]
Webinar: How the SECURE Act Changes Your Retirement and Estate Planning
There is a high likelihood the SECURE Act will affect your retirement planning. The Setting Every Community Up for Retirement Enhancement (SECURE) Act was passed into law in December, creating the most significant changes to retirement income planning since 2006. Join us for a 1-hour webinar where we will discuss the major changes made by […]
What You Need to Know About the Recently Passed SECURE Act
On December 20, 2019, Congress passed, and the President signed the “Setting Every Community Up for Retirement Enhancement Act,” better known as the SECURE Act. The Bill contains the most significant changes to retirement planning since the Pension Protection Act in 2006 and has something in it for everyone. We first wrote about the SECURE […]
Should You Consider a Medicare Advantage Plan?
Now is the time (October 15-December 7) that the 64 million Americans on Medicare must decide whether to stay on their current Medicare Plan or change to another plan. For many, the choice has always been to remain on Traditional Medicare and supplement that coverage with a Medigap policy. Over the past several years, more […]
Three Changes to Retirement Accounts You Should be Aware Of
Lost in all the tax law changes that went into effect this year were several changes made to IRA and Roth IRA accounts that bear mentioning. IRS Blessing of the Backdoor Roth IRA The amount of money you can contribute to a Roth IRA is typically limited and direct contributions are completely disallowed if you […]
Tax Bill Alert
Don’t look now but another tax bill is working its way through the House Ways and Means Committee. If passed in its present form, it makes additional changes to retirement plans (among other things), including IRAs and 401(k) plans. The bill also includes technical corrections to the Tax Cuts and Jobs Act of 2018 law, […]
Don’t Forget your RMD
When it comes to retirement accounts such as Individual Retirement Accounts (IRAs), 401(k)s and 403(b)s, there are two magic ages to remember. The first is age 59 ½ when you can begin accessing your retirement accounts penalty-free. The second may be lesser known, but can be more costly if forgotten. Starting at age 70 ½ […]
“To Retire or Not to Retire” is the Question
The baby boomer generation consists of 78 million people, all born between 1946 and 1964. Every day 10,000 more in this group reach the age of 65 and are confronted with one of the biggest decisions of their lives – whether or not to retire. Choosing how to spend your time, your changing family dynamics […]
Single Parents – Five Choices for Success
In 1960, among all households in the U.S. with children under 18, 1 in 8 were not headed by a married couple. Today, the proportion is nearly 1 in 3. While most single parents are women, the number of single men with children has increased greatly int hat time, to 2.6 million. Single-parent households face […]
Roth Conversions and the New Tax Law
Roth IRAs have been around since the Tax Payer Relief Act of 1997. During that time, the use of the Roth IRA has grown significantly and can serve as a valuable part of tax and cash flow planning in one’s financial plan. The main method of funding larger contributions to a Roth account is via […]
Social Security System is Not Going Away
Retirement security and protection against the risks of disability and premature death are among the most important challenges families face when they contemplate their financial goals and objectives. Americans have developed a structure of social insurance, called the Social Security system, to help provide a foundation for success in these areas. However, in recent times, […]
Making the Most of Your Social Security Benefits: A Strategy for Widows
Elizabeth (name changed) contacted her financial advisor after her husband passed away earlier this year. One of the important issues discussed was the proper strategy to use in order to maximize her Social Security benefits. Elizabeth is 64 years old and earning $150,000 per year, with plans to retire at age 66. Her late spouse […]