Give Your Retirement Plan a Tune-Up

Give Your Retirement Plan a Tune-Up   Conducting an annual review of your retirement goals and strategy is an ideal way to check that your plans for your financial future remain realistic and on track. With that in mind, taking the three easy steps outlined below will help you conduct your retirement tune-up. Step 1: Review Your Retirement Goals Your first step should be to review your retirement savings goals and…

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Financial Review Checklist

Financial Review Checklist When meeting with your financial advisor, consider whether you’re on track to pursue the goals outlined in this article. You don’t need to wait until the beginning or the end of the year for a financial review, especially if your investment mix, risk tolerance, or time horizon has changed recently. When meeting with your financial advisor, consider whether the following areas of your life are on track.…

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What Is the Difference Between a Traditional IRA and a Roth IRA

It’s important to review both types of vehicles and plan your IRA strategy carefully. No matter which type you choose, make the most of your IRA by contributing to it regularly.   Traditional IRA Roth IRA Contribution limits? For 2015, the maximum contribution is $5,500 ($6,500 for those aged 50 and older). Amounts are indexed annually for inflation. For 2015, the maximum contribution is $5,500 ($6,500 for those aged 50…

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Naming Beneficiaries: What You Need to Know

Naming Beneficiaries: What You Need to Know This article explains why one of the most important issues in estate planning is who to name as beneficiaries on life insurance policies, pension plan accounts, IRAs, and annuities. A major issue in estate planning is who to name as beneficiaries on life insurance policies, pension plan accounts, IRAs, and annuities. This important decision often doesn’t take into account the substantial estate and…

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What’s the Best Way to Give Money to Children and Grandchildren?

In 2014, the IRS allows you to give up to $14,000 annually (or $28,000 if you give jointly with your spouse) to each of as many people as you’d like in cash, investments, and/or property without triggering gift taxes. (This limit may be adjusted for inflation in future years.) If you’re thinking about giving money to minor children, such as a new grandchild, it might make sense to take advantage…

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Navigating Medicare and Medigap Insurance

Medicare Eligibility If you have already started receiving Social Security benefits before your 65th birthday, you don’t have to sign up for Medicare Part A or Part B. Part A is basic hospital insurance; Part B helps to pay for medically necessary services such as doctor visits or outpatient care. You automatically become eligible on the first day of the month you turn age 65. Premiums for Part B (there…

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Advance Directives: Planning Ahead for Your Own Care

Advance Directives: Planning Ahead for Your Own Care Someday you could face a health crisis that leaves you unable to make your own medical decisions, so be prepared. Although the thought may not be pleasant, you may someday face a sudden health crisis that leaves you unable to make your own medical decisions. Fortunately, there is a legal means, known as an advance directive, to address this potential concern. An…

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Preventing Identity Theft

Preventing Identity Theft What can you do to help reduce your chances of having your identity stolen? Millions of Americans fall victim to identity theft each year — and their financial losses are in the billions. In 2012, an estimated 16.6 million Americans experienced identity theft, causing losses of $24.7 billion.1 What can you do to help reduce your chances of having your identity stolen? The steps below can help…

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