When to Call Your Financial Advisor

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If you’re experiencing a major life change of any kind, or facing a crucial financial decision, it’s a good idea to make an appointment with your financial planner. Here are some examples of major life passages when you may need some good financial advice – and some action items to bring up: 1. Marriage. At a minimum, it’s critical to have life insurance in place to protect both spouses. Many planners also assist with budgeting tools, provide advice about spousal communications concerning money, and can help you develop a long-range financial plan together, as a couple. Other critical items to…
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What the New Tax Law Means for Retirees

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The Tax Cuts and Jobs Act – the sweeping tax reform measure signed into law by President Trump in late December 2017 – is good news for most retirees. The most significant benefit for most is the increase in the standard deduction, which nearly doubles in 2018 and beyond. The new standard deduction goes from $6,350 to $12,000 for individual filers, from $9,350 to $18,000 for heads of households, and from $12,700 to $24,000 for married couples filing jointly. What does this mean for retirees? An analysis by H&R Block, using a fictional single taxpayer with no dependents and a…
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Protect Yourself from Unexpectedly High Retirement Health Care Costs

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More than 40% of retirees encounter health care costs that are greater than they had anticipated or planned for. That’s according to a new study from the LIMRA Secure Retirement Institute. Here are LIMRA’s key findings: • Retirees spend 13% of their income on health and long-term care expenses, on average. • 43% of those with retirement plans still underestimate health care expenses in their golden years. Furthermore, seniors should plan for continued increases in health care costs, over and above the effects of inflation. According to HealthView Services’ 2017 Retirement Health Care Costs Data Report, health care costs are…
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