Blog Posts

Washington was busy this holiday season. As many of us were looking forward to some well-earned time off, new legislation was passed, and it affects some of the old rules for traditional Individual Retirement Accounts. These changes went into effect on January 1, 2020.

One of the biggest changes will affect the required minimum distribution (RMD) timeline for IRAs granted to a beneficiary at the time of your death.

We cannot stress enough the value that tax deferred savings brings to your retirement planning. It is one of the more powerful tools at your disposal.

To help prepare those of you who are still working, a summary of the 2020 Annual Benefit Plan Amounts, showing adjustments to dollar limitations on benefits from and contributions to qualified retirement plans, can be found at the end of this communication.

By John C. Fales

Although an inheritance typically comes from some form of loss, it could mean a significant monetary gain for the receiving party.

If you have advance knowledge of the incoming inheritance, you may be better prepared for how to handle it, but there are always things you should consider in this situation. Let’s take a look at several of those considerations:

By Michael J. Searcy

There’s a big difference between making a good living and making a good life. Making a good life, for me, means I get to help people pull together all the pieces of their current situation, and show them how each piece impacts the others, creating an organization to the chaos to help guide them through the life they desire. I’ve met countless people who make a great living, but make no time to really live. Having a financial plan is crucial to getting the most out of life, and beyond. Following that financial plan could be the difference between “I’m so glad I planned and prioritized,” and “I shoulda, coulda, wish I woulda.”

Maintaining a sound financial life also means taking steps to help protect your important records. Was tax season a paperwork mess for you? Have you struggled with finding important documents when you need them? Below are three questions to consider as you prepare your organization system for tax and legal documents for the upcoming year and beyond: