Baby Boomers

Archive for the ‘Baby Boomers’ Category

secure act webinar

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 […]

SECURE Act webinar

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 […]

secure act financial retirement planning

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 […]

Medicare Advantage Plan

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 […]

Medicare Open Enrollment

Medicare Open Enrollment Begins October 15, 2019

The annual Medicare open enrollment period starts next Tuesday, October 15. For those currently enrolled in Medicare, this is the time to make changes to your plan. We recommend you review your coverage now to see if it still fits your needs for the coming year. Any changes you make will be effective beginning January […]

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, […]

retirement savings

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 […]

Medicare Open Enrollment Begins October 15, 2018

What is the Medicare Open Enrollment Period? The Medicare Open Enrollment Period is the time during which people with Medicare can make new choices and pick plans that work best for them. Each year, Medicare plan costs and coverage typically change. In addition, your health-care needs may have changed over the past year. The Open […]

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 polices? 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 […]

deciding to retire or keep working

“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 benefits

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 […]

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