Should you always keep an emergency fund?

From: REAP, LLC. | Retirement & Estate Advisors & Professionals

You’ve probably heard that you should have an emergency fund. The purpose? To tide you over for a few months in case you lose your job.

So does that mean you can stop worrying about maintaining this rainy day account once you retire?

Not really. Retirees should probably consider keeping their emergency funds intact for several reasons.

Here’s why…

Trust Management Issues?

From: www.wealthmanagement.com

Multi-generational Planning Opportunities Utilizing Tax-Deferred Annuities

The end and beginning of each year is always a challenge for trustees. Usually state-regulated trustees will complete administrative reviews to ensure trustees are meeting all their fiduciary duties. It is also a time for trustees to ensure the asset allocation and rebalancing of trust investment portfolios comply with the Prudent Investor fiduciary rules. This can be an ordeal and…

A Guide to Giving and Lending Money

From: REAP, LLC. | Retirement & Estate Advisors & Professionals

Has a friend or relative ever asked you for a sizeable loan or financial gift? Handling this situation can be tricky. You don’t want to damage your relationship, but you also need to do what’s right for yourself.

With a careful approach, however, you can smoothly manage whatever request comes your way.

Saying Yes

If you’re comfortable saying yes…

Put Catch-Up Contributions to Work

From: REAP, LLC. | Retirement & Estate Advisors & Professionals

Say you’ve reached your 50s or 60s and wish you’d saved more for retirement. Those work-free years that were once a distant fantasy have almost arrived, and while you’re looking forward to them, you’re also feeling a little nervous.

Why? Well, you don’t want to rely too heavily on Social Security, which probably won’t pay enough for a comfortable…

Consequences of Modifying an Irrevocable Trust

From: www.aaepa.com

In the past, trusts often were drafted with little flexibility. Now, more and more, trusts tend to be drafted with increased flexibility and there are even ways to change trusts which have become “irrevocable.” There are several ways to modify a trust, including by a Trust Protector, by a procedure under the state’s version of the Uniform Trust Code, by decanting under…

Does early retirement make sense for you?

From: REAP, LLC. | Retirement & Estate Advisors & Professionals

Who wouldn’t love more control over how they spend their days? Retiring early can make that happen sooner rather than later, but it’s also a huge decision.

If you’re in a position to retire early — or if you aspire to find yourself in this position one day — how do you know exactly when to make…

By Jennifer Frost

Council of mortgage lenders statistics show that 52% of first time home buyers get help from family members. With the majority of them being in their 20s and 30s, huge student loan debts, high property prices, and poor credit rating make it hard for them to afford to buy a house on their own. This means that most American family members especially retirees feel it’s their duty to support younger family members…

The Importance of Financial Defense

From: Sound Income Strategies, LLC

The great Alabama coach “Bear” Bryant once said, “Defense wins championships,” and you can bet that almost every great coach in nearly every sport has shared that same philosophy. Just think about some of the great sports dynasties, teams that won championships year after year: the Green Bay Packers under Vince Lombardi, the Boston Celtics under “Red” Auerbach, the Yankees…

The Case for Fixed Income

From: Sound Income Strategies, LLC

Renewable Income Streams to Keep You a Step Ahead of Inflation

• Why now is still a good time to buy and hold bonds
• What if I invest today and rates go up tomorrow?
• How to create a steady stream of income you can count on well into retirement

Renewable Resource — A natural resource that can replenish itself naturally over time.

We hear the term…

How to Minimize Social Security Taxes

From: money.usnews.com

Your Social Security benefit may be taxable. Try these strategies to reduce your tax bill in retirement.

Most workers pay intothe Social Security program throughout their career. Many people also pay taxes on part of their Social Security payments in retirement.

Retirees with low incomes or whose only source of income is Social Security generally don’t pay income tax on their Social Security benefit….