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. […]

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 […]

In Texas, the tax implications for estate and inheritance taxes can be broken down into federal and state-level considerations. Federal Estate Tax in Texas Texas does not impose its own estate or inheritance taxes, but federal estate tax laws still apply. The federal estate tax applies only if the deceased’s […]

Florida Estate Tax: Florida does not impose a state estate tax. This means estates left by Florida residents are not subject to any state-level estate taxes. Federal Estate Tax still applies to estates that exceed the federal exemption threshold. Federal Estate Tax (2024): For 2024, the federal estate tax exemption […]