Author - jim@blankenshipfinancial.com (Jim Blankenship)

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Make SMART Goals as You Plan
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A Message about Risk in Investing
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What is a QLAC?

Make SMART Goals as You Plan

goal settingGoal planning is the real “meat” of financial planning. That is to say, once you’ve covered the issues of organizing your information, developing and improving your net worth, and providing for the safety issues, it is now time to consider exactly what you would like to do with your money and your life.

This is a very personal set of decisions – no one person makes the same choices. Perhaps you’d like to open your own business, and become your own boss. Maybe all you’d like to do is to finish working after 30 years and spend your time …

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A Message about Risk in Investing

risk in swimmingThe following is a story that was related to me by another financial planner. The message is quite remarkable – and important for all of us to understand.

A dentist, age 53, had sold his practice and partially retired. When we reviewed his portfolio, which amounted to approximately two million dollars, it became apparent that he had strong feelings regarding protection of capital. The entire two million dollars was invested in a combination of CD’s, money market funds, and short-term US government bonds.

A portfolio with this kind of makeup is considered risk averse, meaning that there is little if …

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What is a QLAC?

401kIn July of 2014 the IRS issued final regulations regarding the allowance of qualified longevity annuity contracts in employer sponsored plans such as 401ks, 403bs and 457b plans as well as IRAs.

What it Means and What it Means to You

QLAC stands for qualified longevity annuity contract. This means that a person is allowed to take up to 25% of their overall account balance but not more than $125,000 in their retirement plan and use that money as premium to fund a longevity annuity contract.

Additionally, the annuitant must start the annuity by no later than the first day …

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