rackliff

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Deciding When to Retire: When Timing Becomes Critical

Deciding when to retire may not be one decision but a series of decisions and calculations. For example, you'll need to estimate not only your anticipated expenses but also what sources of retirement income you'll have and how long you'll need your retirement savings to last. You'll need to take into account your life expectancy and health as well as when you want to start receiving Social Security or pension benefits, and when you'll start to tap your retirement savings. Each of these factors may affect the others as part of an overall retirement income plan. Read More

Deciding When to Retire: When Timing Becomes Critical2022-03-14T19:51:39+00:00

403(b) Plans

A 403(b) plan is an employer-sponsored retirement plan for certain employees of public schools, tax-exempt [501(c)(3)] organizations, and churches. The employer can purchase annuity contracts for eligible employees, or establish custodial accounts to be invested in mutual funds or other investments. In the case of annuity contracts, a 403(b) plan is sometimes referred to as a tax-sheltered annuity (TSA) plan. Read More

403(b) Plans2022-03-14T19:22:59+00:00

Understanding Social Security

Approximately 69 million people today receive some form of Social Security benefits, including retirement, disability, survivor, and family benefits. (Source: Fast Facts & Figures About Social Security, 2020) Although most people receiving Social Security are retired, you and your family members may be eligible for benefits at any age, depending on your circumstances. Read More

Understanding Social Security2022-01-19T20:11:04+00:00

Taxation of Investments

It's nice to own stocks, bonds, and other investments. Nice, that is, until it's time to fill out your federal income tax return. At that point, you may be left scratching your head. Just how do you report your investments and how are they taxed? Read More

Taxation of Investments2022-01-19T14:13:18+00:00

Common Stock vs. Preferred Stock

Common stock and preferred stock are the two main types of stocks that are sold by companies and traded among investors on the open market. Each type gives stockholders a partial ownership in the company represented by the stock. Despite some similarities, common stock and preferred stock have some significant differences, including the risk involved with ownership. It's important to understand the strengths and weaknesses of both types of stocks before purchasing them. Read More

Common Stock vs. Preferred Stock2021-12-31T03:06:24+00:00

Income Tax Planning and 529 Plans

The income tax benefits offered by 529 plans make these plans attractive to parents (and others) who are saving for college or K-12 tuition. Qualified withdrawals from a 529 plan are tax free at the federal level, and some states also offer tax breaks to their residents. It's important to evaluate the federal and state tax consequences of plan withdrawals and contributions before you invest in a 529 plan. Read More

Income Tax Planning and 529 Plans2021-11-22T01:56:59+00:00

Leaving Your Job? Your Retirement Savings Plan Options

Are you leaving your job and considering whether to take a distribution from your 401(k), 403(b), or governmental 457(b) plan? if so, make sure you've considered all your options. In general, you have the following four options when you're eligible to receive a distribution from your employer retirement savings plan. Read More

Leaving Your Job? Your Retirement Savings Plan Options2021-11-22T01:22:47+00:00