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The Rules For Retirement Are Changing And You Better Be Listening

I am sure you have heard that phrase from many financial professionals over the years.  This time I want you to really hear it THE RULES FOR RETIREMENT ARE CHANGING!!  Hopefully I have your attention now because what I am about to tell you will scare the hell out of you.  Whether you are in your 40s or 50s you have been hearing that you need to save for retirement in traditional vehicles such as 401ks, IRAs, and sometimes someone mentions Roth IRA.  The reason you are told this is because of the tax deferral and the amount of money you can grow your nest egg for retirement. If you are a business owner or an employee of a company what I am about to say is a very bold statement and I will take heat for it.  Your investment guy, your Certified Financial Planner™, your insurance representative, your CPA, your estate planning attorney and anyone in between I believe ...

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Is Georgia One Of The Best Tax States To Retire In Today?

Inevitably all of us have the dream of being able to make work optional. I’ve written lots of articles regarding the subject of retirement, but as we approach another Presidential election you may need to consider which state to live in when it comes to saving money in taxes. Outside of how you like the overall lifestyle of the state in which you live, where your family resides, and other factors, taxation certainly should be in the top five list on where you choose to make your final place of residence. Since states are changing their laws all the time, I wanted to share that I think Georgia will continue to be a top ten player for retirees over the next twenty years. I recently had the opportunity to do an interview with Susan Garland who is the editor for the retirees section of Kiplinger and we had a candid conversation around their article of the 10 most friendly tax ...

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The Government Likes Annuities Now?

As all of us know, the idea of working for one company for 20 or 30 years is a dream most of won’t ever realize in our lifetimes.   Historically, if you worked for one company for your whole career, you could retire with a pension.   A pension is really another similar term for the word annuity which means that you would receive a consistent stream of income for the rest of your life that you could not outlive.   In many cases, you can also get a spousal option to have the annuity continue upon your death to your spouse even if for a reduced amount of income. As pension plans have largely been replaced over the past 25 years with the 401(k) savings plan, the combination of employee/employer savings rates and overall rates of return have led many people to having a 201(k) at this point in their lives.   With ‘retirement’ lurking in the not too far distant future, many ...

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