Potential Consequences of Taking IRA Distributions to Pay Off Debt Once there is no longer a paycheck, retirees will typically meet expenses with a combination of social security, withdrawals from retirement accounts, annuities, and pensions. Social...
If you live in an unfriendly tax state such as New York or California, it’s not uncommon for your retirement plans to include a move to a more tax friendly state once your working years are over. Many southern states offer nicer weather, no income taxes, and...
Inherited IRA’s can be tricky. There are a lot of rules surrounding; Establishment and required minimum distribution (“RMD”) deadlines Options available to spouse and non-spouse beneficiaries Strategies for deferring required minimum distributions...
Given the downward spiral that GE has been in over the past year, we have received the same question over and over again from a number of GE employees and retirees: “If GE goes bankrupt, what happens to my pension?” While it’s anyone’s guess what the future...
Whether you are about to retire or if you were just notified that your company is terminating their pension plan, making the right decision with regard to your pension plan payout is extremely important. You don’t want to rush into the first plan that comes your...
The number is higher than you think. When you total up the deductibles and premiums for Medicare part A, B, and D, that alone can cost a married couple $7,000 per year. We look at that figure as the baseline number. That $7,000 does not account for the...
