As we end one year and begin another, there are things you need to think about doing to maximize your retirement assets, gain any available tax benefit, and/or avoid any tax penalty that may be linked to your investments. Here are things you should consider:

Published:
Roger Green, MSFS,CFP®

In the year in which you turn 70 ½ years of age, the current IRS guidelines require you to take a Required Minimum Distribution (RMD), by April 1 of the following year, from your Qualified accounts (tax-advantaged accounts). For each year thereafter, you must take your RMD by 12/31 each year.

Published:
Roger Green, MSFS,CFP®

Just over 1 in 4 of today’s 20 year olds will become disabled before they retire.1 About 20% - or 1 in 5 American adults- have a disability according to the CDC July 2015. The majority of wage earners believe they have a 2% or less chance of being disabled for 3 months or more during their working career, but the actual odds for a worker entering the workforce today are about 25%.1 Medical problems contributed to 62% of all personal bankruptcies filed in the U.S. in 2007.2 None of us know what challenges life will bring and that is why you should consider disability insurance.

Published:
Roger Green, MSFS,CFP®

Inflation can be defined as an overall upward price movement of goods and services in our economy as measured by the Consumer Price Index (CPI). When planning for how much money you will need for retirement, it is important to consider the impact of inflation on your assets and your goals. Ongoing inflation takes away the buying power of your money, meaning you will need more money to live on in the future than you need currently.

Published:
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  2. Your Green: Financial Words of Wisdom for Graduates!
  3. Your Green: Growth versus Saving for Retirement
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