Important Keys for Annuity Investors: Understanding Annuity Types: Annuities come in various forms, including fixed, variable, and indexed annuities. Fixed annuities offer guaranteed payments, while variable annuities depend on the performance of selected investments. Indexed annuities are tied to stock market indices but often come with caps on returns. Choosing […]

Maximizing your 401(k) contributions goes beyond just setting aside money on a monthly basis. Strategies such as student loan matching, emergency savings accounts, in-plan annuities, auto asset allocation, and auto escalation can significantly enhance your savings over time. Here’s how each of these strategies could work for someone who starts […]

Many retirees have had to “unretire” and return to work due to various financial pressures. Some of the key reasons include: Rising Cost of Living: Inflation and the increasing cost of essential goods and services, including healthcare, housing, and food, have outpaced the growth of retirement savings for many people. […]

A Simplified Employee Pension (SEP) IRA is a type of retirement savings plan designed for self-employed individuals and small business owners. Here’s an overview of key aspects of SEP IRAs: Qualification to Contribute Employers: Any business owner with one or more employees, including self-employed individuals, can establish a SEP IRA. […]

Converting a Traditional IRA to a Roth IRA can be a strategic financial decision, but it involves several considerations including taxes, timing, and market conditions. Here’s an overview of why and how to convert a Traditional IRA to a Roth IRA, as well as strategies and implications: Why Convert a […]

Traditional IRA: Pros: Tax-Deferred Growth: Contributions are typically tax-deductible, and the investments grow tax-deferred until withdrawal. Immediate Tax Break: Contributions may reduce your taxable income in the year they are made. No Income Limits for Contributions: Anyone with earned income can contribute, regardless of income level. Cons: Taxable Withdrawals: Withdrawals […]

Number of Beneficiaries for IRA Accounts There is no limit to the number of beneficiaries an individual can designate for an IRA (Individual Retirement Account). You can name multiple beneficiaries, and you can also specify the percentage of the account each beneficiary should receive. Naming a Non-Profit Organization as a […]

In Arizona, there are no state-level estate or inheritance taxes. However, federal estate taxes still apply based on the overall value of the decedent’s estate. Here are the key details and examples to clarify the tax implications for estates and inheritances in Arizona. Federal Estate Taxes: Federal estate taxes apply […]