3 Questions You Need to Ask About Retiring from a Family-Owned Business

One of the most pressing challenges owners of family businesses face is developing a retirement plan and exit strategy. As a business owner, the majority of your wealth may be tied up in your business, so it makes sense that your focus is on business growth – not personal retirement planning. Whether your retirement is fast approaching or a decade away, it’s critical to be prepared. However you choose to approach it, taking the necessary […]

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Learning to Be a Retiree

Practice Makes Perfect When it Comes to Retirement Most of us really look forward to the idea of well-deserved, unstructured free time. A time to do exactly what we please when we please. Until we get it. Half of retirees reported being somewhat or not at all satisfied with their retirement. A retirement satisfaction survey from EBRI found that half of retirees (51.4%) in 2012 reported being somewhat or not at all satisfied with their […]

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10 Things You and Your Spouse Should Know About Your Finances

It seems inconceivable, but the Couples Retirement Survey by Fidelity Investments recently revealed that over 40% of couples don’t know how much their partner earns. Yet having a solid understanding of your financial status as a couple is crucial to planning, budgeting and saving toward your goals. To get in sync, make sure you have the answers to these questions. Do we have any financial secrets? Talk about your debt, obligations, past mistakes (e.g., credit […]

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Don’t Overlook These Eight Common Estate Planning Problems

Regardless of your age or current health, mapping out a clear plan for your estate will help avoid unnecessary turmoil for your loved ones. Estate planning goes beyond wills to include trusts, powers of attorney and letters of instructions. Talk to your advisor about what you need, and be sure to look out for these common mistakes. A will-based estate plan or no estate plan – Without the benefit of a clear estate plan or will, […]

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Key Steps to Building Your Portfolio

Revisiting the Basics Can Build Confidence in Your Financial Plan in the Face of Volatility In all market environments, it’s important to understand the fundamentals behind your investment strategy, portfolio composition and overall financial plan. Understanding the underlying elements will help you advance your financial objectives and can provide well-founded confidence that may just help you stick with your plan in times of uncertainty. First things first Three essential elements hold up the structure of […]

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Convert to a Roth IRA or Not?

Even if you qualify to convert your traditional individual retirement account to a Roth account, it doesn’t mean you should. The right answer is probably tied up in concerns about personal income tax rates, your plan for your estate, the current state of your finances and, in a sense, your best guess about your future tax circumstances. Here are the principal differences between the two IRA plans. Traditional IRA Created in 1974, the traditional IRA […]

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Consolidate Your Accounts to See the Big Picture

As you may have noticed, many financial institutions are raising or re-instituting fees for services that used to be free. Often these fees aren’t much, but if you have a number of accounts, it adds up quickly. Fees aside, having multiple financial accounts can make it more difficult to see the “big picture” of your financial situation. This is particularly true when it comes to investment accounts, where it’s critical to understand your asset allocation […]

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Working in Retirement

While retirement traditionally has been thought of as a time when people leave the workforce for good, the reality is that times have changed. Many retirees will want to supplement their incomes in retirement, and one way is with a part-time job. Some retirees want to work part time in retirement, independent of their income needs. People sometimes worry that working in retirement will push them into a higher tax bracket and/or impact their Social […]

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Love, Money and Retirement

When you were single, you likely made most of your investment decisions solely with the help of your financial advisor. As a couple, you’re now part of a financial committee of two – and with your lives and finances entwined, you’re likely to face some serious issues about your financial future together. Even with the best intentions, how these decisions are handled can impact your relationship – for better or worse. This is especially true when it comes to retirement […]

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