IRA Rollover Rules Change in 2015
As a refresher, IRA rollovers are simply the transfer of funds from a retirement account such as a 401(k) into an IRA, or an IRA-to-IRA transfer. There are three ways to accomplish this rollover or transfer: Direct rollover – The administrator of your account may issue your distribution in the form of a check made […]
Retirement Planning for CSU Employees
CSU employees do not pay Social Security taxes. Because of this, employees are not eligible for Social Security benefits (see the exceptions discussed below). Because your earnings from CSU are not covered under Social Security, employees are mandated to participate in one of the following retirement programs: • Colorado Public Employees Retirement Association (PERA) • […]
Variable Annuities – Beware!
Variable annuities are insurance products. These contracts are marketed by insurance companies as investments. However, due to fees, surrender charges, tax issues and limited investment choices, annuities should be avoided if possible. Generally, two versions are offered: immediate and deferred. With immediate annuities, you give the insurance company a lump sum of money and they promise […]
The Role of a Financial Advisor When a Spouse Dies
Hopefully you are reading this article prior to the death or incapacitation of your spouse. If your spouse has recently passed away, please accept our sincere condolences. Numerous organizations have offered helpful suggestions for coping with the loss of a loved one. One that is repeatedly mentioned is well summarized by CancerCare when they say, […]
Retirement Account Bankruptcy Protection
In 2005, a set of Federal bankruptcy law amendments added protection of retirement accounts from creditors. However, a few weeks ago, the U.S. Supreme Court unanimously ruled that inherited individual retirement accounts are not protected. What this means is that your own IRAs and other retirement accounts are protected from creditors while you are alive. […]
Procrastination Costs You Money
Smart, well-intentioned investors may harm their financial futures when they delay money matters. Tomorrow seems like a great day for difficult things. If it’s not fun, if we lack the proper skills or if the task takes us back to previous painful mistakes, tomorrow usually seems best. When outsourcing professional services, procrastination can be especially […]
How to manage expenses in retirement
The basic concept is really pretty simple: keep annual expenses below the planned withdrawal rate of your assets. As usual, it’s the details that can get a little tricky.
Help! The Required Minimum Distribution from my IRA is more than I usually spend
When your required minimum distribution (RMD) is larger than the amount of income you need for expenses, you have many options for handling the excess. We find it is helpful to manage the extra amounts wisely in order to avoid spending more than you had planned.