Archive - December 10, 2013

1
Financial Planning Should Come First When You Inherit
2
All about RMD’s, The Required Minimum Distribution
3
Consider the Needs of Caregivers

Financial Planning Should Come First When You Inherit

Many people fantasize about getting an unexpected inheritance, but what would you do if it happened to you? Would financial planning be at the top of your to-do list?

According to USA Today, “More than $41 trillion will be transferred to heirs over the next 50 years…Much of that wealth will be passed on to people who are already affluent and presumably schooled in how to manage an inheritance. But for those who are accustomed to living paycheck to paycheck, even a modest windfall can present daunting challenges — and significant risks.”

Don’t make any sudden moves: Getting …

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All about RMD’s, The Required Minimum Distribution

For many, once we reach the age of 70.5 IRA and other Qualified plans mandate a distribution so Uncle Sam can get his fair share of taxes. For some, RMD’s or Required Minimum Distributions occur even sooner.

What is an RMD ?

A Required Minimum Distribution (RMD) occurs most frequently for those turning age 70.5 with IRA or other Qualified (fancy word for never taxed $$) funds. In certain instances, as an example, if a stretch IRA has been commenced, in order to avoid taxes, any age person may be required to complete a RMD.

Why an RMD ?

Taxes, …

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Consider the Needs of Caregivers

If you have ever been in the role of caregiver to a sick family member, whether for a short period of time or for a long drawn out decline, you know it takes a huge toll on your own life and that of your family.  Caregiving can be an all-consuming task depending on the level of intervention needed.  Many times it forces the caregiver to completely rearrange their lives, taking unpaid leave from work, turning down promotions, stepping away from social engagements, spiritual interactions and even exercise to concentrate fully on caring for their family member.

For many caregivers, they …

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