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Information provided on this page is informational only. Please review your financial situation with a qualified financial professional before taking action

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Financial Planning for your 50s - What to Consider

The financial planning considerations when entering your 50s can be quite extensive. Between retirement rapidly approaching, life changes, and estate planning issues, there's a lot on the to-do list! For many, this is their last full decade before retirement. It is one of the last chances to save, plan, and make sure you are on track to meeting your long-term financial planning goals. While there are many topics to review, some of the big ones are: - Overall retirement planning considerations - Big life changes - Reviewing your insurance - Updating and reviewing your estate plan

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Financial Planning for your 60s - What to Consider

Financial planning, and the considerations involved, vary greatly depending on where you are in life. A typical benchmark for what life events you may be experiencing is your age. While there will clearly be overlaps from decade to decade, there are some unique circumstances that certain age groups will experience. In this series, we will review some of the common financial planning topics during many decades of life. We thought a good place to start would be financial planning considerations for someone in their 60s. Some common questions for those in this age group include: -When to go on Medicare, and what plan to choose? -When to take Social Security? -What will your taxes look like in retirement? -What will you do with your time?

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Can I Withdraw From My IRA or 401(K) Penalty Free? Only Until Year End

This year has been a challenging year financially for many Americans. With businesses closing, layoffs soaring, and many pay cuts implemented, if you weren't impacted you almost certainly know someone who was. It seems like a century ago, but to address some of these struggles Congress passed the CARES Act in late March to provide some much needed assistance to struggling families and businesses. There is still a chance for Congress to pass additional support before the end of the year, but as the days go by without any progress, this is appearing less and less likely.

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Should You Buy an Annuity? - When an Annuity is (and is not) the Answer

Annuities. Often considered a dirty word to both financial planners and consumers alike. As financial planners, we have seen many annuities sold to people who later regret the purchase. Whether they are high in fees, inflexible, or just not quite what they thought it was, many times these purchases come with buyers' remorse. Like any tool in a toolbox, an annuity is just another weapon in a financial planner's arsenal when it comes to crafting a complete financial plan. However, you have to understand what the annuity will and will not do. Annuities certainly have their uses, but we find they are often too broadly recommended, or incorrectly avoided, based on preconceived notions about the product. Here's what to consider when deciding whether to buy an annuity or not.

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