Managing Your Financial Future Archives

How Do You Know When You Can Retire?- Season 5: Episode 8

April 20, 2021

If you’ve been planning on working until a certain age (62? 65? later?), but you find that you are a) overwhelmed by stress at work, and b) a number of years short of that “required” age, are you still able to retire? This is a question that financial advisors and planners deal with every day. How do you know when you’re really able to hang it all up? Maybe your portfolio balance hasn’t reached the number you’ve always figured was the minimum amount you’d need. There’s a chance, given certain generous tax laws and some basic strategy techniques, that you may be able to retire well before you thought you could.

Managing Your Financial Future

Annuities 101: Understanding the Basics- Season 5: Episode 7

April 13, 2021

Of all the financial products available to consumers, it is the annuity that is perhaps the most misunderstood. The initial concept of the annuity — you give money to an insurance company, they pay you some, or all, of that money back (and maybe more) over time — is rather simple. But over they years they’ve become more complex, with more features, more options, and (yes) in some cases, more fees. Whether an annuity is suitable for you will depend on many factors. But it’s never a good idea to own an annuity (or anything else) without understanding what you’re getting and why it’s been recommended to you.

Managing Your Financial Future

Do You Really Owe Taxes When You Give Someone a Gift?- Season 5: Episode 6

April 6, 2021

Have you heard of the “Gift Tax?” Many people are at least familiar with the term, but relatively few know how, when, or where it might be applied. You probably give gifts all the time: some small, some not so small, and some maybe quite large, as for example a downpayment on a home for your son or daughter. Generosity certainly has its benefits, but is there also a tax that someone should be paying? The answer is both yes and no. And it all depends on a few factors. Knowing how the gift tax works can be especially helpful when it comes time to pass your assets down to your heirs, and if you’re worth a lot of money, it’s even more vital that you understand how it works.

Managing Your Financial Future

How to Get Money Into a Roth When You’re Over the Income Limits – Season 5: Episode 5

March 30, 2021

You may have heard that individuals with annual incomes that exceed certain thresholds cannot contribute funds directly to a Roth IRA. This is true. So how can someone with an income above the limits enjoy the potential tax benefits of a Roth? A simple strategy technique may allow you to do just that.

Managing Your Financial Future

Why We Spend the Way We Do in Retirement- Season 5: Episode 4

March 23, 2021

All marriages end in one of two ways: divorce or death. If you live long enough with someone, eventually one of you will mourn the other. And whether a spouse’s passing comes as a surprise or not, there will always be a list of tasks that the survivor must deal with at some point. But what are those tasks, and when do you have to perform them? Good questions. And while everyone’s situation is unique, there are a few things that most everyone who is in that situation should be sure to get done.

Managing Your Financial Future

Your Spouse Dies – What Do You Do Now?- Season 5: Episode 3

March 16, 2021

All marriages end in one of two ways: divorce or death. If you live long enough with someone, eventually one of you will mourn the other. And whether a spouse’s passing comes as a surprise or not, there will always be a list of tasks that the survivor must deal with at some point. But what are those tasks, and when do you have to perform them? Good questions. And while everyone’s situation is unique, there are a few things that most everyone who is in that situation should be sure to get done.

Managing Your Financial Future

The Unintended Consequences of Social Security’s Survivor Benefits- Season 5: Episode 2

March 9, 2021

You may have heard that Social Security provides a “survivor benefit,” which allows a surviving spouse to continue to receive their deceased spouse’s benefits. The original intention (back in 1940) was to ensure that widows would not be left without a Social Security payment. Today, though, with many dual-working households (and thus two Social Security benefits), those same survivor benefit rules may actually cause the survivor to take a cut in benefits — in some cases, by nearly 50%. How is that possible? And, even more importantly, how can you strategize to keep this from happening?

Managing Your Financial Future

The 3 Biggest Risks Facing Your Portfolio Today- Season 5: Episode 1

March 2, 2021

It’s a fact that retirees in general dislike spending down their savings. In today’s low interest rate environment, and given declining dividend yields, how should one remove money from a portfolio for income without damaging the portfolio’s integrity and longevity? There are several possible routes to take, and unfortunately, many people may be tempted to reach for yield with either low-quality bond purchases or stocks with higher dividend yields. But doing so almost certainly will raise the risk within a portfolio without any guarantee of higher returns.

Managing Your Financial Future

Is It Time to Re-Think the “4-Percent Rule?”- Season 4: Episode 12

February 8, 2021

It’s a fact that retirees in general dislike spending down their savings. In today’s low interest rate environment, and given declining dividend yields, how should one remove money from a portfolio for income without damaging the portfolio’s integrity and longevity? There are several possible routes to take, and unfortunately, many people may be tempted to reach for yield with either low-quality bond purchases or stocks with higher dividend yields. But doing so almost certainly will raise the risk within a portfolio without any guarantee of higher returns.

Managing Your Financial Future

Creating Income When Interest Rates Are Low- Season 4: Episode 11

February 2, 2021

It’s a fact that retirees in general dislike spending down their savings. In today’s low interest rate environment, and given declining dividend yields, how should one remove money from a portfolio for income without damaging the portfolio’s integrity and longevity? There are several possible routes to take, and unfortunately, many people may be tempted to reach for yield with either low-quality bond purchases or stocks with higher dividend yields. But doing so almost certainly will raise the risk within a portfolio without any guarantee of higher returns.