RSSCategory: Articles

Nov

20

Park City resident asks, ” What are the retirement plan contribution limits for 2018?”

Slight increases have been made due to mild inflation. You will able to put a little more into your workplace retirement account in 2018. The federal government has boosted the annual contribution limit on some of the popular qualified retirement plans thanks to inflation and made other adjustments worth noting. Contribution limits for 401(k)s are […]

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Nov

13

Understanding Inherited IRAs

What beneficiaries need to know and consider At first glance, the rules surrounding inherited IRAs are complex. Here are some questions (and potential answers) to consider if you have inherited one or may in the future. Who was the original IRA owner? If the original owner was your spouse, you have a fundamental choice to […]

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Nov

6

The Republican Tax Reform Plan

What is in it? What could its changes mean for you, if they become law? Major changes may be ahead for federal tax law. At the start of November, House Republicans rolled out their plan for sweeping tax reforms. Negotiations may greatly alter the content of the bill, but here are the proposed adjustments, and […]

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Oct

30

Retirement Plan Trusts

These tools can shield inherited IRA assets from lawyers and creditors. Inherited IRA assets are vulnerable in bankruptcy proceedings. Many older IRA owners and their beneficiaries do not realize this, but it is true. In Clark, et ux v. Rameker (2014), the Supreme Court ruled 9-0 that inherited IRAs cannot be defined as “retirement funds” […]

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Oct

24

Is Your Company’s Retirement Plan as Good as It Could Be?

Many plans need refining. Others need to avoid conflicts with Department of Labor rules. At times, running your business takes every ounce of energy you have. Whether you have a human resources officer at your company or not, creating and overseeing a workplace retirement plan takes significant effort. These plans demand periodic attention. As a […]

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Oct

16

How Much Should You Save By Age 30, 40, 50, or 60?

What number should you strive to reach? It is agreed that the earlier you start saving for retirement, the better. The big question on the minds of many savers, however, is: “How am I doing?” This article will show you some rough milestones to try and reach. (Keep in mind that you may need to […]

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Oct

10

Retiring Before 60

If that is your dream, explore whether these steps could be useful to take. How could you retire in your fifties by choice? You will need abundant retirement savings and ways to access your retirement assets that lessen or avoid early withdrawal penalties. You may also need to have other, sometimes overlooked, components of retirement […]

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Oct

2

An Estate Plan or a Wealth Transfer Strategy?

Basic estate planning documents may not communicate your intentions. There are three degrees of estate planning: advanced, basic, and none at all. Basic is better than none, but elementary estate planning can still leave something to be desired. While appropriate documents may be in place, they may not be able to fully convey what you […]

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Sep

25

Why You Should Stay Invested Through Tense Times

Crises pass, and markets eventually regain equilibrium. We have seen some uneasy times lately. Uneasiness impacts the financial markets. When it does, we all need to keep some long-term perspective in mind. Those who race to the sidelines and exit equities may regret the choice when crises pass. Wall Street loves calm. Traders literally want […]

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Sep

18

Are You Really Saving Enough for Retirement?

Why an early start (and accepting some risk) matters. Are you on track to save $1 million or more for retirement? If you are 50 or younger, you may need that much in savings to generate the kind of retirement income you prefer. Personal finance website NerdWallet recently did some math concerning this very objective. […]

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