Health Care Costs in Retirement
A lot goes into a well thought out retirement plan. Income streams, asset values, return expectations and expenses all play a key role in putting together a plan that works with a high probability of…
What Insurance Do I Need In Retirement?
There are plenty of risks that we need to think about and manage as we age. Those risks may include market declines, premature death, fire hazards or liabilities associated with driving. As we age, we…
Retirement Income: Some rules are meant to be broken!
For many of us who are still in our working years, the word retirement doesn’t resonate. We know it’s a goal that we save for, but the reality is, we don’t think about the nuances…
Form 1099-R: Tax Filing for Retirement Accounts
The Coronavirus Aid, Relief, and Economic Security (CARES) Act of 2020 eliminated the need for retirement account holders to take Required Minimum Distributions (RMDs) in 2020. While many individuals simply did not take their RMD,…
2020 Vision: COVID-19 Retirement Planning
As far back as I can remember, I have always had bad eyesight. My mother would tell you that I sat too closely to the TV but the truth is I was dealt a bad…
An “ING-teresting” Kind of Trust
Have you heard of an ING-teresting trust planning vehicle that can help to reduce or eliminate state income taxes upon the sale of highly appreciated assets? If you live in a high-income tax state such…
Proactive Income Tax Planning
Like most election cycles, there has been a lot of talk about the direction of income taxes. While the results of the Senate race will not be known until January, we know that neither party…
Collections and Estate Planning – Division of Assets
Part 2 of 4 Whether you collect first-edition books or sports memorabilia, you’ve likely put significant time, effort, and money into the items you’ve accumulated over time. Regardless of what they’re worth, it’s not unusual…
Understanding New Jersey Millionaire’s Tax
The long-rumored Millionaire’s Tax in New Jersey is now law. After many tries the tax was approved effective January 1, 2020 via a vote in New Jersey’s legislature in late September. It’s estimated that the…
Required Minimum Distributions (RMD) Holiday in 2020
The Coronavirus Aid, Relief, and Economic Security (CARES) Act of 2020 eliminated the need for retirement account holders to take Required Minimum Distributions (RMDs) for this year. This RMD holiday for 2020 is very unique…