Kiplinger

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Weekend Reading: Long-Term Care Planning Protects You and Your Family

If you’re waiting for the right time to seek long-term care insurance, consider making it a priority now. One unexpected event can have a massive impact on your retirement security, and there’s more than one LTC solution.

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Weekend Reading: Deferring Taxes Until Retirement? You May Want to Rethink That

If you want to minimize the dollars you owe Uncle Sam, it’s crucial to focus on limiting your long-term tax liability, versus only minimizing taxes in the current year.

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Weekend Reading: Four Threats to the Distribution Phase of Retirement

You may find – like many of the families we meet with – that the distribution phase of retirement is often the most challenging. However, it can be greatly simplified by focusing on a handful of key risks.

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Weekend Reading: How to Cut Your Social Security Taxes

Much like other forms of retirement income, your Social Security benefits can be taxed (up to 85 percent), depending on if you have additional income sources.

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Weekend Reading: What to Do Before the Tax Cuts and Jobs Act Provisions Sunset

If you have yet to put an effective tax plan in place, the clock is ticking! Now is the time to leverage strategies to control future tax liability, while maintaining liquidity throughout your retirement.

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Weekend Reading: Retirement Planning with Life Insurance

Although life insurance products are primarily associated with death benefits, certain cash-value life insurance products like indexed universal life insurance (IUL)s can provide tax-free income during retirement.

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Weekend Reading: How to Find Fixed Indexed Annuities That Work for You

You’re in the midst of a unique retirement planning environment. Many retirees can no longer rely solely on pensions and Social Security for lifelong income, and as a result, annuities (specifically fixed indexed annuities – FIAs), have gained popularity.

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Weekend Reading: Will You Pay Higher Taxes in Retirement?

The combination of RMDs and Social Security income can result in what’s called the "tax torpedo”, but there are ways to help avoid it.

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Weekend Reading: Annuities Are the Swiss Army Knife of Personal Finance

Annuities can be a versatile financial tool in your retirement plan, but it ultimately depends on your unique financial situation and goals.

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Weekend Reading: How to Lower Your Tax Bill Next Year

A forward-looking tax strategy requires being proactive. To minimize your tax bill next year, you’ll want to consider employing tax efficient strategies for the remainder of 2023.

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Weekend Reading: Four Historical Patterns in the Markets for Investors to Know

It’s important to note that past performance cannot predict the future. However, historical information can help you set reasonable market expectations.

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Weekend Reading: Five Tax Planning Strategies to Use All Year to Lower Taxes

You have the ability to gain more tax control over your hard-earned dollars, despite the many complexities of today’s tax rules. All you need is a forward-focused tax roadmap to help you get there.