If you are a high income earner or are trying to make up for lost time in the retirement savings game, you may be looking for ways to increase contributions to your retirement plans beyond the IRS maximums. If you're over the age of 50, you can put a hefty amount in the company retirement plan. In 2019 the max is $25,000. What if you want to make higher annual contributions, or you don't have access to a company retirement plan? Here are some options: If you are married, you can … [Read more...]

I never realized until recently how the payment of the commission to an agent impacts the benefits and restrictions the client receives in a policy. I had always been aware that a commission payment created the surrender period on a life or annuity policy. This is due to the fact that the insurance company needs a certain number of years to recoup the amount paid to the agent. That is why most life and annuity contracts contain a surrender schedule that lasts 7 – 10 years. It creates the … [Read more...]

Dear [names], What if you're not able to make medical decisions regarding pain management, quality of life, or specific type of procedures? Do you have a plan in place so that someone else can make these important decisions for you? Enter the "Advanced Healthcare Directive". The following is reproduced from an article by National Hospice and Palliative Care Organization _______________________ What are Advance Directives? A living will allows you to document your wishes … [Read more...]

Do you sometimes wonder whether you have too much or enough in reserve? Having too little in reserve may require a retiree to use debt to fund an unexpected expense. Having too much in reserve presents an opportunity cost on the funds that could be better utilized elsewhere. So how much is enough? Is there a right amount? You've probably heard the rule of thumb of 3 to 6 months worth of expenses for emergencies. That is a good starting spot.  In addition to pure emergencies, you … [Read more...]

Have you ever been frustrated by the investment options in your company retirement plan? Maybe there are too few… Maybe there are two many and are overwhelming… Maybe there aren't enough safe options… Navigating the best way to invest inside your company retirement plan while retirement nears can not only be frustrating but can involve a tremendous amount of risk. Most company retirement plans weren't built for the soon-to-be retired. They were built for the accumulator who has a higher … [Read more...]