When it comes to retirement, the traditional pension slowly is becoming extinct. But for those who still have one, it’s a huge benefit and, typically, a key part of their retirement plans. There’s usually a number of decisions to make about how you take the pension. You often have the option to elect a lump sum payment or an income stream. If you take the income stream, you...
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Fall has arrived, and football season is upon us. The kids are going “back to school” or off to school for the first time. As a parent of a 19-month-old and a three-and-a-half-year-old daughter, it seems like we have plenty of time to save for future education goals. However, they grow up fast, and time seems to get away from us if we do not have a plan in place. There are...
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Waaaaay back in 2003, the most money an individual could pass to their heirs without the burden of federal estate taxes was a measly $1 million. Today, the limit is $11.18 million. A married couple can pass just over $22 million free of Federal Estate Tax. Less than one in 10,000 estates will need to worry about paying estate taxes today. Only the truly wealthy need to worry about planning...
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On the morning of July 3rd, I got the call. My Dad was on his way to the hospital with what would turn out to be his second stroke. Thankfully and miraculously, Dad survived without any long-term effects. As I was driving to the hospital, a multitude of thoughts were bouncing around in my head; “Will dad survive? Will he be paralyzed? Will we have to move him to a...
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