Home » Potential issues with contributing to IRA after 70½

Potential issues with contributing to IRA after 70½

Just because the Setting Every Community Up for Retirement Enhancement Act eliminated restrictions on people contributing to a traditional IRA after age 70½ doesn’t necessarily mean they should. This article looks at potential issues for advisors and clients to consider. Full Story: ThinkAdvisor 

Read More

Study: 75% of Gen X interested in guaranteed income

Members of Generation X have now lived through two market crashes and those experiences have influenced their thoughts about saving for retirement, says Allianz Life’s Matt Gray. A new study from Allianz Life shows 71% of overall retirement plan participants surveyed were interested in guaranteed lifetime income, while 75% of…

Read More

How to help clients avoid a retirement fail

Financial advisors need to warn retirees and people nearing retirement about possible failures and how to avoid them, retirement coach Robert Laura says. “The reason people are failing in retirement is because they are not thinking about the nonfinancial decisions,” he says. Full Story: Financial Advisor online

Read More

Expert: Annuity can cover Social Security shortfall

If Social Security income isn’t enough to take care of basic fixed costs in retirement, purchasing an annuity can be an effective way to close the gap, says retirement income expert Wade Pfau. He recommends a straightforward immediate or deferred income annuity for this purpose rather than a more complex…

Read More


Money mistakes that can hurt clients’ retirement

Financial advisors can help clients avoid money mistakes that can hurt them in retirement. The AARP recently highlighted six such mistakes, including buying a timeshare, avoiding the stock market and pulling from retirement funds to cover children’s education costs. Full Story: ThinkAdvisor

Read More

A state-by-state look at the cost of retirement

The amount you need to save for retirement can vary from about $666,000 to more than $2 million, depending on where you live, according to GOBankingRates. This analysis breaks down the cheapest and most expensive states for retirement. MarketWatch

Read More

Diversifying investments offers way to manage longevity risk

People are retiring earlier and living longer, making longevity one of the greatest risks retirees face, write portfolio managers Michael Meltzer and John Petrides. They suggest managing this risk by diversifying across investment classes and “[f]ocusing on protecting the ‘quality’ of the income stream by favoring companies with a strong…

Read More

2020 brings changes for contribution limits, Social Security, Medicare

Clients will be able to contribute more money to their 401(k)s in 2020, and legislative changes will allow for IRA contributions past age 70½. There is a 1.6% cost-of-living adjustment for Social Security in 2020, but Medicare premiums are also set to rise. CNBC  

Read More

SECURE Act to bring changes to how Americans save for retirement

Kiplinger’s tax editor Rocky Mengle explains 10 key ways the Setting Every Community Up for Retirement Enhancement Act, which President Donald Trump signed into law Friday in a financing package, changes retirement saving in the US. “While some provisions are administrative in nature or intended to raise revenue, most of…

Read More

Is it time to rethink the 401(k)?

Many Americans don’t have access to 401(k) plans, and those who do often do not save enough for retirement. Disparities in retirement savings have intensified since the Great Recession, according to the Economic Policy Institute. CNBC

Read More

Main office