It is relatively easy to understand how important asset protection planning for Nevada residents can be. Most people want to make sure their assets are protected, including real estate, investments, business interests, and even personal property. Just consider the costs of malpractice, business (E&O), and other forms of liability insurance, which are rapidly increasing. It is certainly important to be preemptive in protecting your assets from potential creditors, whether that is through … [Read more...] about Asset Protection Mistakes Nevada Residents Must Avoid
IRA & Retirement Planning
Are you ready to relax and put the 9 to 5 behind you? If so, hopefully you have a good retirement plan in place. If it is not quite time, be sure to start planning. A good, comprehensive retirement plan is essential if you want to retire comfortably. But, even with a good plan, it is possible to make costly mistakes. These errors may leave you wondering how you are going to live on such little income. Here are some mistakes to avoid in planning your retirement. Be sure your retirement … [Read more...] about Mistakes to Avoid in Planning your Retirement
Technically speaking, you can take money out of your IRA at any time. The real question is, whether you want to pay a penalty or not. The government discourages us from raiding our IRAs until we reach retirement age, since an IRA is a “retirement account.” But, as with most things, there are exceptions. The general terms of an IRA With a traditional IRA, if you withdraw money before you turn 59 ½, you will be required to pay a 10% penalty on the total amount you withdraw. That penalty is in … [Read more...] about When Can I Access My IRA?
It is not uncommon for clients to ask, "why do I need a retirement plan?" Many clients believe that, with social security and a 401K, they have nothing to worry about, when it comes time to retire. The reality is, we all need to take our retirement into our own hands, and not be dependent on government benefits to secure a comfortable retirement for us. Understanding Social Security benefits Many people have a concern about the certainty of the Social Security system. Realistically, the … [Read more...] about Why do I Need a Retirement Plan?
If you haven’t started considering your retirement plan yet, it is not too late to start. Though Social Security provides some retirement income, most of us are hoping for a more comfortable retirement than those limited funds can provide. An IRA is a wonderful investment tool that will allow you to plan, save and invest in your future, while creating valuable tax breaks. So, how does an IRA work? It is not as complicated as you might think. What is an IRA? First, an IRA is simply a … [Read more...] about How Does an IRA Work?