It is always important to review that there are five key areas of financial planning: Preservation, Retirement Planning, Investments, Tax Planning, and Estate Planning As a comprehensive financial services firm, we try to always consider the impact of any recommendation we make on not just one, but all of these areas for our clients. The webinar focuses primarily on the economy’s outlook and some year end tax planning ideas which could have an impact on some of your financial … [Read more...] about Webinar Recording: 2019 Year-end Tax Planning for Investors
IRA and Retirement Planning
Part of estate planning is making sure that, after your death, your loved ones know how to handle your affairs. That means knowing where to find your various assets and the important documents needed to handle your estate. A common question clients have is what happens to their retirement account after their death? Maintain Records of Your Retirement Accounts In order for your survivors to file claims for the outstanding benefits from your retirement accounts upon your death, they will need to … [Read more...] about What Happens to Your Retirement Account When You Die?
If you are a veteran and you are working on your retirement plan, you need to consider the different types of financial support you are likely to receive during your lifetime. Two of the most common types of financial benefits available for veterans are pension benefits and compensation benefits. In this post, we will discuss important aspects of Los Angeles veterans retirement benefits that should be considering during your retirement planning. Understanding the Differences in Veterans … [Read more...] about Including Los Angeles Veterans Retirement Benefits in Your Plan
If you are a California resident with a career in public service, you should become familiar with the California Public Employee's Retirement System or CalPERS. CalPERS has provided retirement benefits and health security for public service employees for more than 80 years, becoming the nation's largest public pension fund. The CalPERS pension fund serves more than 1.7 million members. Overview of benefits provided by CalPERS There are a wide variety of retirement benefits and other services … [Read more...] about Getting to Know the California Public Employees’ Retirement System
Many clients become anxious when the topic of retirement planning is mentioned. Clients question whether or not they have sufficient income or money set aside to have a comfortable retirement. Should you start planning now and how, exactly, should you save or invest your money? Many of the questions that must be asked in retirement planning can seem overwhelming. Just be sure to avoid these common retirement planning mistakes, and consult with your estate planning attorney, and you can … [Read more...] about Avoid These Retirement Planning Mistakes
Clients often have the false impression that social security benefits and a basic 401K are sufficient for retirement. The truth is, it is important to create a real retirement plan so you won’t need to be dependent on government benefits, in order to have a comfortable retirement. Social security may not be a secure as you think. That’s why you need a retirement plan. What you need to know about Social Security benefits Most of us are concerned about the certainty or stability of the … [Read more...] about Why You Need a Retirement Plan
Have you started planning for retirement yet? It is never too early to start thinking about it. Most of us would like to look forward to a more comfortable retirement than Social Security can provide. The purpose of an IRA is to do just that, allow you to plan, save, and invest in your future. An IRA can also be used to help pay for other important purchases, while providing wonderful tax breaks. So, what is an IRA and how does it work? Definition of an IRA An IRA, or Individual … [Read more...] about What Is an IRA and How Does It Work?
IRAs are tax-deferred savings plans, to help working individuals become prepared for their future retirement. These savings plans must be established and operated in compliance with IRS guidelines. With that said, there are certain requirements and limitations that have been put in place. One specific element of an IRA that has limitations relates to contributions. A common question that clients ask is “what are the IRA contribution limits?” Getting familiar with the different types of … [Read more...] about What are the IRA Contribution Limits?
Everyone should have a retirement plan in place, because being prepared for retirement does not happen on its own. In many cases, having an IRA along with Social Security benefits will not be sufficient, if you want to retire comfortably. When to start retirement planning can be a concern for many of us. While you should start planning sooner, rather than later, you may not have everything you need to create an effective plan just yet. The first step is to start saving for retirement When … [Read more...] about When to Start Retirement Planning
Traditional Individual Retirement Accounts, or IRAs, are not the only type of IRA that is available. There are IRAs that are established by individuals and those that are employer-sponsored. Employer-sponsored IRAs include matching contributions. A SEP IRA is one specific kind of IRA that is perfect for small business owners, as an alternative to the standard profit sharing plan for employee retirement. The benefits of an SEP IRA SEP stands for “Simplified Employee Pension.” This is how it … [Read more...] about What is an SEP IRA?