A Traditional IRA serves as a valuable tool for individuals seeking to save for retirement while deferring taxes. Nevertheless, several factors come into play when assessing eligibility for...
Are my social security benefits subject to income tax?
Did you know that a portion of your Social Security benefits may be subject to income tax? This occurs when your modified adjusted gross income (MAGI), plus 1/2 of your benefits, exceeds specified limits.
What does Medicare cover?
WHAT DOES MEDICARE COVER? Most people are familiar with Medicare Part A (inpatient/hospital coverage) and Medicare Part B (outpatient/medical coverage). These two parts combined make up what is...
What factors affect the timing of when I should begin collecting my social security benefits?
Most people qualify to begin claiming their Social Security benefits as early as age 62 or as late as age 70. Exceptions to this include disability, a deceased spouse, or an inadequate number of...
Should I keep my life insurance after I retire?
Life insurance serves an essential purpose during your peak earning years. Providing financial support for your loved ones in the event of a premature demise is incredibly valuable. Later in life, the question becomes, “should I keep my life insurance policy?” The answer, like most financial advice, is “It depends.” This article provides general guidance when considering your policy.
Why do I need a retirement plan?
A “good” financial plan is one that is custom to your needs and will create a road map to help you achieve your goals. Depending on your situation, your plan can focus on a few life goals or provide a more comprehensive plan addressing your entire financial situation.
Wealth Management Q&As
Wealth Management is more than investment management. It considers the larger picture. While your investments are critical to your success throughout retirement, it is also important to understand how your taxes, finanical plan, estate, and insurance can affect both your overall situation. Do you know when you should begin collecting social security to maximize its benefit? Have you followed the necessary steps to help your assets pass efficiently to your heirs, avoiding probate? If 529 plans are applicable to you, have you considered 529 plan superfunding or how to maximize 529 plan tax advantages? Our wealth management Q&As consist of popular topics among our clients and are not limited to investment management.