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beneficiary
Choosing a Beneficiary for Your IRA or 401(k)
Selecting beneficiaries for retirement benefits is different from choosing beneficiaries for other assets such as life insurance. With retirement benefits, you need to know the impact of income tax and estate tax laws in order to select the right beneficiaries. Although taxes shouldn’t be the sole determining factor in naming your beneficiaries, ignoring the impact…
Read MoreBeneficiary Designations Over-ride Wills
The following article by Ric Edelman published on CNBC this morning is a great reminder on the importance of keeping your beneficiary designations up to date. http://www.cnbc.com/id/101853636 Please leave us your thoughts in the our comment section.
Read MoreEstate Planning 101 – Part 2
The third full week in October has been designated as National Estate Planning Awareness Week. Estate planning is a vital component of every financial plan, regardless of the size of the estate. Unfortunately, it’s also an area that is commonly overlooked. This often results in wasted dollars and emotional hardship that could otherwise be minimized…
Read MoreSeptember Is National Life Insurance Awareness Month
Congress has proclaimed September “National Life Insurance Awareness Month,” and most states are making similar proclamations. More than 100 insurance companies and industry trade groups are expected to participate in the National Life Insurance Awareness Month campaign. While many Americans recognize that it is important to protect loved ones with life insurance, far too many…
Read MoreFinancial Perspectives for Women
Today, women have more opportunities to achieve financial success than ever before. However, it’s a fact that women often face obstacles that their male counterparts don’t. It’s important to recognize and account for these challenges. For more information, watch the short video clip below regarding these challenges and other potential financial setbacks. Financial Perspectives: Understanding…
Read More529 College Savings Plans
529 college savings plans are tax-advantaged college savings vehicles and one of the most popular ways to save for college today. Much like the way 401(k) plans revolutionized the world of retirement savings a few decades ago, 529 college savings plans have revolutionized the world of college savings. As of June 2011, total assets in…
Read MoreTransferring Wealth with a Stretch IRA
Want a way to flex some retirement planning muscle? Then consider a “stretch” (inherited) IRA. Not only can this strategy preserve wealth for future generations, it also has the potential to keep assets growing in a tax-deferred account for years to come. Here’s the inside scoop, based on one hypothetical family situation. One Scenario Imagine…
Read MoreCollege Prep: Five Reasons to Study Up on 529 Plans
Millions of families striving to meet the mounting costs of college have flocked to 529 college savings plans. For most investors, the plans’ main attractions are the potential for federal tax-deferred earnings growth and federal tax-free qualified withdrawals.1 The plans’ aggregate asset limits, which often exceed $200,000, also appeal to contributors concerned about the potential…
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