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tax changes

Reduced RMDs Coming Your Way … But Not Until 2022

Here’s some good news for people nearing or already in retirement! In the future, you will be required to take less money from your retirement plans, but the new rules won’t take effect until 2022. That’s right. Required Minimum Distributions (or RMDs) will be heading downward starting in 2022, as the IRS recognizes that longer life […]

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2020-10 Morningstar retirement spending smile

Why Your Spending In Retirement Looks Like A “Smile”

Our clients already know that we spend a lot of time researching the finances of retirement so we can help you get the most satisfaction out of your retirement years. Previous research has suggested that your spending tends to balloon in the “go-go” years just after retirement as you cram travel, eating out, and all […]

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2021 Retirement Plan Limits

Are You Saving Enough? New Retirement Contribution Limits For 2021

Did you know that there have been a few small changes to the amounts you can contribute to your IRA, Roth IRA, SEP, SIMPLE or 401(k) starting January 1, 2021? We’ve summarized in the accompanying graph what changes – and what doesn’t – for next year. For the most part, annual employee contribution amounts for IRAs […]

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2020-10 AARP Bulletin

Quote Of The Week: Where To Get Help Managing Your Retirement Money

Many people approaching or in retirement feel they need help managing their nest egg so it lasts throughout their entire retirement. Here’s a great Q&A with financial columnist Linda Stern (AskLinda@aarp.org) from this month’s AARP Bulletin, explaining why it’s so important to rely on a CERTIFIED FINANCIAL PLANNER™  professional who is a fiduciary.   Question: […]

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Social Security To Get 1.3 Percent Boost In 2021

Social Security benefits for approximately 70 million Americans will get a 1.3 percent Cost of Living increase in 2021, the Social Security Administration announced last week. How much does that amount to? About $20 per month for the typical single, according to Social Security. That’s enough to buy lunch for you and a friend at a fast […]

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6 Easy Numbers To Help Measure Your Financial Wellness

Understanding your financial picture needn’t be that complicated. Simply staying on top of a half-dozen key money numbers can bring your financial picture into focus and improve your financial well-being, says financial columnist Kimberly Lankford in an article for AARP. Interviewed for the article, Mari shared with Kim one quick and easy tip for measuring […]

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How Far Your Dollar Can Stretch In Each State

Trying to live on a budget? It’s no secret that your dollar will go further in states with a lower cost of living, where the price of housing, food, and other goods and services clock in at the lower end of the scale. Using data from the Bureau of Economic Analysis, 24/7 Wall St. calculated […]

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Say It Ain’t So! Millennials Turning 40

Hard to believe, but the oldest of the millennials – those born between 1981 and 1996 – are about to turn 40. The generation that some thought would never move out of Mom’s basement is now marching toward middle age. And despite all those earlier concerns, America’s largest living adult generation is doing quite well, thank you. […]

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Is A Roth Conversion Right For You? 7 Things You Need To Know

We’ve been talking to several clients about doing a Roth Conversion before year-end. For some people, a Roth Conversion can be a great tax-saving strategy, but for others it could go down as a big mistake. Here’s some of the most common misconceptions about Roth Conversions, and what you absolutely need to know before you […]

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Quote Of The Week: What Low Interest Rates Mean For You

The Federal Reserve has pushed interest rates to new lows to fight COVID-19. How do these historically low rates affect your wallet? “Good news, bad news. Borrowers will benefit from the low-rate environment. The 30-year fixed mortgage rate is likely to remain below 4% for the foreseeable future. Auto, home-equity and other consumer loan rates will […]

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