Social Security and your retirement is not planned in a vacuum.

Learn how creating your own retirement plan can help you reach your goals, what financial vehicles are used to build the plan and the role of diversification in creating an income stream for the future.

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Today’s longer lifespans have left some baby boomers in the difficult position of planning for retirement, helping their children and caring for aging parents simultaneously. Giving advice to aging parents on their finances and other matters can cause conflict.

To ease the way, start the conversation long before a crisis occurs by asking for copies of documents you might need someday such as property deeds, birth certificates, and insurance policies. Also keep updated information on retirement plans and pensions, Social Security and health insurance.

Ask your parents to create a living will, outlining their health care wishes, and appoint a health care proxy, or person, to carry out those wishes in case they’re unable to communicate.

They may want to also have a living trust, which is a legal document that places their assets into a trust for their benefit while alive, and transfers them to beneficiaries when they die.

If your parents become ill or incapacitated, the trustee can immediately take over financial decisions.

For more information on caring for aging parents, call us or stop by our website.


Most retirees are not prepared for the income loss they will face during retirement. Social security and 401(k)s will most likely not be enough to sustain the lifestyle you have become accustomed to. Developing your own personal pension plan will help you overcome these challenges.

Visit for more information or give us a call at 1-877-844-0900 if you have any questions.

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If you’re changing jobs or retiring, it’s important to know the rules regarding moving funds from your employer sponsored retirement plan.
The wrong move could cost you in income taxes and early withdrawal penalties.
There are two basic ways to move retirement plan assets from one retirement plan into another with no tax consequence.
With a direct rollover your financial institution or plan directly transfers the payment to another plan or IRA; no taxes are withheld and your account continues to grow tax-deferred.
With an indirect rollover, a check is made payable to you. You have 60 days to deposit it into a Rollover IRA – but indirect rollovers are subject to 20% withholding.
For example, if you had $10,000 eligible to rollover, your employer would withhold $2000 and you’d get a check for $8,000. You’ll get the $2000 that was withheld back when you file a tax return, either as a refund or a credit toward any tax owed.
However, in 60 days you still have to deposit the entire $10,000 in a rollover account – the $8,000 from your employer plus $2000 from your own resources. Any amount you don’t rollover is considered income, and subject to taxes when you file your return. You could also face a 10% early withdrawal penalty, depending on your age.
To learn more about how to avoid complications with a retirement plan rollover, give us a call today.

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You’ve been saving for your retirement for decades. Don’t undermine your own plans by making these 5 common mistakes when you retire.
First, don’t retire too soon. Lifespans are increasing and many retirees underestimate their life expectancy when calculating the money needed to live on.
The second mistake to avoid? Spending too much in the first years. It’s easy to overspend while playing with your newfound freedom, but it can cause shortfalls later in life. Budget accordingly and stick to your plan.
The third mistake is underestimating medical expenses – and overestimating Medicare benefits. Avoid surprises by factoring in enough money to supplement Medicare and consider buying added health insurance to fill in any gaps.
Another mistake is taking Social Security benefits too early. You can claim benefits at age 62, but the longer you wait, the higher your monthly benefit will be.
Lastly, don’t fail to do estate planning. An estate plan and a will maximizes the chances that your wishes will be followed and your assets will go where you dictate.
It’s easy to make mistakes in the beginning stages of retirement – for more information, please give us a call or stop by our website today.


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