If you want a tax break and want to help a non-profit, this may be a good move. Have you ever wanted to make a major charitable gift? Would you like a significant federal tax break in acknowledgment of that gift? If so, an IRA charitable rollover may be a good financial step to take.…
Are your investment decisions based on evidence or emotion? Information vs. instinct. When it comes to investing, many people believe they have a “knack” for making good investment decisions. But what exactly is that “knack” based on? The fact is, the choices we make with our assets can be strongly influenced by factors, many of…
What to check (and double-check) before you leave this world. Create a will if you do not yet have one. A valid will may save your heirs from some expensive headaches linked to probate and ambiguity. A solid will drafted with the guidance of an estate planning attorney will likely cost you a bit more…
Will I have to pay taxes on my Social Security retirement benefit? Possibly! Most retirees enjoying their 2nd Half collect Social Security retirement benefits. Up to 85% of your Social Security benefits could be taxed as ordinary income. Since 1984 Federal income taxes have applied to Social Security benefits above a threshold. This threshold has…
Why so many Social Security Strategies? Because it’s complicated. For a married couple approaching retirement there can be 100s if not 1,000s of possible options. How would a couple know what to choose? How can you make the best informed decision? Social Security is not allowed to give that type of advice. It may be…
Should I wait to take Social Security? As much as 8% a year extra can make a huge difference. Here’s how. Your monthly Social Security retirement benefit depends on your age when you first start collecting. Waiting until after you reach your Full Retirement Age (FRA) to begin collecting Social Security benefits kicks in the…
Will my Social Security benefit keep up with inflation? Yes! One of the most attractive features of Social Security is that every year the government adjusts the benefit for inflation. Known as a cost-of-living adjustment, or COLA, this inflation protection can help keep up with rising living expenses during retirement. The COLA is quite valuable;…
Can my family collect Social Security retirement benefits? Yes! A little known fact is that benefits are available to the children of a retiree who is collecting Social Security. Normally, I recommend waiting to claim benefits, but if you have minor children, it may make sense to claim earlier. For example, George is 61 and…
Social Security 101 In order to plan appropriately for your successful 2nd Half, it is important that you understand what Social Security is and what it’s not. Social Security is a social insurance program operated by the Federal government. It was established over 75 years ago in response to the challenges of the Great Depression…
What is Advance & Protect? Our investment strategy at Wealth Advisors As the President of Wealth Advisors, I am passionate about my clients and helping them to pursue their financial goals. I am fortunate to have had a great group of clients for many years. Each client is unique, but most are fairly conservative investors…