The Right Retirement Planning Consultant-Financial Advisor or Therapist?
Know what you need when you seek a retirement planning consultant. Make a list of questions you want answered. Some retirement planning consultants have a psychology and therapy background and deal with the issues of transition of working to not working. They address such retirement planning issues as: Leaving the friendships and social interaction of work How to use [...]
Categories: retirement consultants, retirement planning Tags: retirement planning consultant
Employer Sponsored Retirement Plans
There are several types of employer sponsored retirement plans and your employer likely provides ONE of these. You don’t have a choice but you want to have a basic understanding of the plan being offered to you and you want to participate as a way to maximize your retirement investing. Employers have these plans in place as a benefit that [...]
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The most powerful self employed retirement plan
Here’s how to understand defined benefit plans. IRS allows, up to limits, the amount a business owner can contribute to a plan so that at retirement, he will have enough in his plan to generate an annual income equal to the income they had while working. The annual limit for this type of self employed retirement plan in2008 is $185,000. [...]
Categories: 412i, defined benefit Tags: 412i plan, defined benefit plan, self employed retirement plan
Retirement Planning Checklist
If you don’t plan where you’re going, you’ll probably get there. To have the comfortable retirement you desire, you need to plan ahead. In 60 minutes using this retirement planning checklist, you can lay the groundwork for the retirement you desire. How do you want your retirement to look? What is your average day? Where do you live? Do you [...]
Categories: retirement planning, retirement plans Tags: retirement financial guide, retirement planning checklist
Senior Tax Booket Details 6 Ways for Retirees to Cut Tax
While most tax rules and tax rates apply equally to all taxpayers, there are some tax law provisions that are particularly senior tax issues because seniors are the ones most affected. Below are a few senior tax issues and an offer to get a more comprehensive booklet if interested. Some minor tax planning in retirement can result in big saving as you [...]
Categories: reducing taxes Tags: senior tax
Reducing Taxes With an Immediate Annuity
Your Immediate Annuity May Give You a Double Tax Break If you’re concerned about having enough income to last and you want to maximize it while reducing taxes – perhaps an immediate annuity is for you. You’d ensure an income for life but it’d depend on your age and sex. When you die, that’s it – your investment is gone. [...]
Categories: immediate annuities, reducing taxes Tags: reducing taxes
Is a Fee Only Financial Advisor for You?
Financial advisors charge in two basic ways—they earn transaction commissions on the products you buy or you pay them directly for their time or project. Many people prefer fee only financial advisors because they believe the advisor has greater objectivity as he is not getting compensated for selling a particular product. While fee only financial advisors are common when it [...]
Categories: fee only Tags: advisor compensation, fee only financial advisor, fees vs commissions
Free Retirement Planning
We’ve all heard the saying, “there’s no such thing as a free lunch,” but in fact, there is. Many financial planners will invite you to a free lunch to hear their presentation in hopes that you want to meet with them individually. They will in fact offer a free retirement planning session. How can they make money doing this? In hope [...]
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Retirement Planning Tips For Taking Your Lump Sum
You’ve decided to retire now. You know how much you’re due from social security and any pension too. Then there’s the lump sum from your defined contribution plan at work. What retirement planning tips can help you make the most of your lump sum? In most cases, you want to do a direct rollover of the lump sum into a new [...]
Categories: retirement planning Tags: ira rollover, lum sum, retirement planning
Sources of Retirement Income You Control
Many retirees lack control over 50% or more of their retirement income. For example, if a retiree has income of $50,000 annually, and $30,000 comes from social security and employer pension, the retiree controls less than half of his retirement income making those sources somewhat useless to discuss. So let’s focus on the sources of retirement income you can control and [...]
Categories: retirement income Tags: annuitize, bonds, dividends, immediate annuity, retirement income sources
