Retirement Planning

New Rule Change to Social Security Benefit Options

 | Your retirement decisions just became even more important with a new rule change from the Social Security Administration. Due to the recent publicity surrounding social security strategies, the current Administration has decided that it will no longer allow someone to collect benefits at a lower rate and then payback those benefits to receive an increase in their payments at a later date. This strategy is often known as the “Do-Over” or the “Payback Method.”

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Maximize Your Social Security Benefits

 | One of the most important decisions a retiree faces is deciding when to file for social security benefits. This decision will not only affect the retiree in his or her lifetime but it will also have a significant impact on a spouse throughout his or her lifetime. Many people have begun to refer to social security as “Longevity Insurance,” as it is arguably one of the best “annuities” available to an individual, with its cost of living adjustment and 100% survivor benefit.

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Roth IRAs 101

 | Unlike the traditional IRA, the Roth IRA provides no tax deduction for contributions, but instead provides for tax free withdrawal of earnings. For many individuals, the Roth IRA is an excellent financial planning tool because it provides a vehicle for shielding your long term investments from taxes. However, because of limiting eligibility requirements, many of our clients have been unable to take advantage of the Roth’s benefits. That will change in 2010, when a window of opportunity opens, enabling more people to participate in Roth IRA accounts.

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Retirement Planning and Social Security Retirement Benefits

 | One of the most important and least-understood decisions we face as we approach retirement is when to start taking Social Security retirement benefits. Should you start early and receive benefits longer, or should you wait to get a larger monthly check? Unfortunately, many people make the wrong decision.

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Tough Questions To Ask Your Retirement Plan Sponsor

 | Many employers offer 401(k) retirement plans, and it's usually a good idea to contribute to these programs. Contributions will lower your tax liability in the present, and the contributions often are matched (or partially matched) by the employer. The tax break and the match are basically free money. But 401(k) plans are not all alike. Companies have a great deal of flexibility, especially in the investment choices that are available to plan participants. Here are some questions that you should ask to determine how much you should contribute to your 401(k), or if you should contribute at all...

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