Use an Immediate Annuity/Life Insurance Combo to Transfer Your IRA to Heirs
Bob Richards Bob Richards–Marketing and Financial ServicesAre you planning to transfer your Individual Retirement Account (IRA) assets to your spouse or children after your death? If so, beware: you may think your heirs will “stretch” the distributions out over their own life expectancies, but they may prefer a lump-sum payment-minus the 30 to 70 percent they?ll owe in income and [...]
Categories: life insurance Tags: immediate annuity, IRA, life insurance
Retirement Advice for Those who Can’t Afford to Save for Retirement
Bob Richards Bob Richards–Marketing and Financial ServicesIf you’re like other people in America, you may be having difficulty saving for your retirement and want sound retirement advice. Even with the tax deduction, workers that make less than $40,000 – $50,000 per year might be strapped to find room in their budgets for a qualified plan contribution (e.g. 401k plan), especially [...]
Categories: retirement advice Tags: 401k, IRA, retirement account, retirement plan, saving for your retirement
401k Rollovers – Why Bother?
Bob Richards Bob Richards–Marketing and Financial ServicesIf you’re like most Americans, you’ve been employed at a string of jobs throughout your career, possibly leaving behind a collection of partially-funded employer-sponsored retirement plans. Consolidating these accounts into a single central Roth IRA tends to make great fiscal sense, but you’ll have to be mindful to structure 401k rollovers properly so as [...]
Why Complete 401k Rollovers?
Bob Richards Bob Richards–Marketing and Financial ServicesYou may think you’re taking control of your future by maintaining a qualified retirement plan offered by a former employer, such as a 401(k), 403(b), or government 457 plan. But are you? Some retirees take a passive approach to their retirement assets, keeping accounts with past employers for the sake of simplicity or maybe [...]
