Recently Proposed Changes to Federal Estate and Gift Tax Laws

From: retirement.tips

Although most of the action taken by the new presidential administration has centered around getting a handle on the COVID-19 pandemic and stabilizing the economy, Congress may soon have a new focus: tax reform.

Recently, Senator Bernie Sanders proposed major changes to federal estate and gift tax laws. Many tax experts agree that changes…

By Michael Longsdon

Being a retiree is often synonymous with kicking back and enjoying your free time whether that is traveling, working on a hobby, or spending the day doing absolutely nothing. However, you’re a senior looking for a part-time job to keep you active and engaged while also giving you the ability to enjoy your retirement. Of course, there are the extra benefits, too, aside from the obvious extra income, such…

How can high earners save for retirement?

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

How much do you earn each year? The answer to that question can affect how you approach saving for retirement.

If you earn above a certain amount, you cannot make direct contributions to a Roth IRA, for example.

Are you wondering about the retirement savings options for high earners? Here are a few details to keep in mind.

9 Ways to Protect Your Retirement Income When Markets Are Volatile

From: www.retirementplanning.net

Most people rely on their retirement savings accounts, such as a 401(k) account or an IRA (individual retirement account), for the non-working years of their life. While these plans supplement Social Security benefits, they are also prone to market volatility. A downturn in the market could have severe implications on your retirement income from these accounts. But since…

4 Things You Can Do to Adapt Your Financial Plan to Market Fluctuations

From: www.financialadvisor.net

Markets are dynamic and continually change owing to a variety of global and domestic factors. These market fluctuations can have a considerable impact on general investment strategies and a portfolio’s worth. A market swing in the positive direction can increase the reward for investors, while a downward strike can augment the risk and reduce overall returns….

What to Know About Custodial Accounts

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

Are you wondering about different ways to invest in your family’s future?

A custodial account can help you give your children (or another young family member, like a niece, nephew or grandchild) financial support for their college education.

How Custodial Accounts Work

A custodial account is a type of savings account that allows adults to control funds on behalf of…

By Michael Longsdon

Of all the housing trends out there, one of the healthiest is senior downsizing. Even though it’s a popular and positive concept, actually doing it can be a daunting prospect. Retirement & Estate Advisors & Professionals (REAP) invites you to read on for information on why it’s such a good idea, and how to make it happen so you can thrive.

Why it’s so healthy

Paring down your living environment can be just…

Buying a Second Home: What to Consider

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

At some point, many people consider buying a second home.

This new property might be your vacation getaway or an addition to your investment portfolio. But, just like buying your first home, such a large purchase requires careful consideration.

These four questions can help guide you as you weigh the potential benefits and challenges of purchasing another house.

How and When to Take Your RMD

From: www.morningstar.com

There is no one best time to take the required minimum distribution.

As an age-72-or-older IRA owner, you have options regarding when to take your annual “required minimum distribution” (or RMD). You can take it early in the year, take it in monthly or other periodic instalments, or wait until the last minute. Which is best?

Surprise–there is no one “best” time to take…

Preparing for an Estate Planning Consultation: 10 Items to Consider Before Meeting with Your Attorney

From: www.natlawreview.com

Are you working on getting your affairs in order? Before you meet with an estate planning attorney, it’s important to be as prepared as possible.

See David’s LinkedIn post here.

While most initial meetings with an estate planning attorney will result in some questions you likely have never considered, there are many ways…