By Jeffrey Levine, CPA/PFS, CFP®, CWS®, MSA A spouse who inherits an IRA or similar account has a couple of options available depending on what the end goals are. But in most cases, the 99% rule offers flexibility and helps preserve the stretch. It sounds odd to say, but death is a part of life […]
The 99% Rule For Spousal Beneficiaries of IRAs Read More »
By Elaine Floyd, CFP ® Do it now! Social Security can be a lifeline for widows. If your husband dies after you have both started receiving Social Security benefits, you can switch to your husband’s benefit amount if it is higher. This is why we generally recommend that the higher earning spouse claim benefits at 70
Social Security for Widows Read More »
By Denise Appleby, APA, CISP, CRC, CRPS, CRSP Roth 401(k)s and Roth IRAs share the ultimate goal of tax-free distributions of earnings, but they are governed by different rules along the way. This side-by-side comparison can help determine which vehicle suits your needs best. Roth 401(k)s and Roth IRAs share the ultimate goal of tax-free
7 Key Differences Between a Roth 401(k) and a Roth IRA Read More »
By Helen Modly, CFP, ChFC, and Tommie L. Monez, MBA, CFP, ChFC What can be worse than losing a spouse—especially with young children to raise? How about being forced to go through probate and losing needed assets to ex-spouses and estranged family members? If only there had been a will. Advisors are used to beating
A Widow’s Worst Nightmare Read More »
By Elaine Floyd, CFP ® Scenario planning shouldn’t stop at retirement. It’s unpleasant, but necessary, to imagine what your situation might look like after the death or incapacitation of a partner. An early dose of reality can help you build a financial foundation. Two weeks ago, my neighbor died unexpectedly at the age of 76. Three
Using Expectancy Scenarios in Financial Planning Read More »
By Elaine Floyd, CFP ® If you got hit by a bus tomorrow, would your loved ones know how to access your important records? Would they know which accounts you hold and where your money is? What about insurance policies? Real estate ownership papers? You may have your records organized in a way that works for
Six Tips for Organizing Your Records Read More »