While most people know that retirement planning is important, many do not have a good idea of what a retirement plan actually is. A comprehensive retirement plan is essential if your goal is to retire comfortably. But, even with a good plan mistakes are possible, which can be very costly. In order to avoid those mistakes, you first need to know how to define retirement plan. How to define retirement plan A retirement plan is the process of determining retirement income goals and the … [Read more...] about How Do You Define Retirement Plan?
Traditional IRAs and retirement plans sponsored by employers are great retirement investment tools. While there are benefits associated with these types of retirement accounts, Roth IRA benefits should also be considered before determining which type of plan is right for you. In reality, the benefits of converting to a Roth IRA may be even better. You can choose to either transfer all or some of your existing retirement account to a new Roth IRA, and you can do so without regard to your … [Read more...] about Roth IRA Benefits You May Not Have Considered
If you are planning for your retirement and trying to decide where to spend those relaxing days, come to Reno, Nevada. This is especially true if you expect to be an active adult when retirement time comes for you. Reno, "The Biggest Little City in the World," is the 4th largest city in Nevada with a population of approximately 220,000. With its casinos, resorts and the nearby Sierra Nevada Mountain range, this fun city is a great place for retirees who love the outdoors. All the charm of … [Read more...] about Retire to Reno – "The Biggest Little City in the World!"
For some, the thought of retirement is stressful. Clients often question whether they will have enough savings or income to be able to retire comfortably. Many wonder when they actually need to start saving and what is the best way to accumulate savings for retirement. While these concerns are reasonable, they should never be intimidating. Your estate planning attorney or financial advisor can help you with your retirement planning to make sure you reach your goals. When you begin the … [Read more...] about Five Common Mistakes in Retirement Planning
When you first establish your 401k plan, you will be required to designate a beneficiary to receive the balance of the account in the event you pass away. For most people, especially married couples, this seems like a simple task. However, there are some factors that you should consider before making this decision. There are some potential problems to avoid with 401k beneficiary designations. Here is what you need to consider. Shouldn’t my spouse be my primary beneficiary? For those of us … [Read more...] about Problems to Avoid with 401k Beneficiary Designations
Traditional IRAs and retirement plans sponsored by employers are great retirement investment tools. While there are benefits associated with these types of retirement accounts, Roth IRAs may have additional benefits as well. You can choose to either transfer all or some of your existing retirement account to a new Roth IRA, and you can do so without regard to your income. Differences in Tax Incentives between Traditional and Roth IRAs Traditional IRA contributions are tax deductible during the … [Read more...] about The Benefits of Converting to a Roth IRA
If you find yourself overwhelmed financially, and you are considering whether bankruptcy is the best option for you, a primary concern may be the loss of your assets during the bankruptcy proceedings. Another concern may also be the effects of bankruptcy on retirement planning. Clients ask us, "Will filing for bankruptcy force me to give up my retirement benefits?" This can be very disconcerting if you have worked for many years in order to achieve these hard-earned retirement … [Read more...] about The Effects of Bankruptcy on Retirement Planning
If creating your retirement plan has not been a priority, it is not too late to start. Although Social Security will provide a sparse amount of retirement income, it will not guarantee a comfortable retirement. Instead, you need to make a retirement plan for yourself, so your golden years can be as relaxing as you imagine they will be. An IRA is a great investment tool that allows you to plan, save and invest in your retirement. A common question, though, is how are IRA withdrawals taxed … [Read more...] about How are IRA Withdrawals Taxed During Retirement?
Hopefully by now you understand that you need more than Social Security benefits and a 401k to be adequately prepared for retirement. The truth is, in order to be comfortable in your golden years, you cannot depend solely on government benefits. Once you establish your plan, your job isn’t over. Knowing when to update your retirement plan is also important. When do I need to update my retirement plan? It is not a bad idea to review your retirement plan each year to make sure your wishes have … [Read more...] about When to Update Your Retirement Plan
Retirement Planning in Nevada from Brad Anderson It is time to start planning your retirement. It is better not to rely on your Social Security retirement benefits to be enough to secure a comfortable retirement. Learn more about retirement planning in Nevada in this presentation. … [Read more...] about Retirement Planning in Nevada