Kiplinger

Charitably minded? Donor-advised funds (DAFs) offer individuals a cost-effective and flexible way to incorporate charitable giving into their estate plans. A DAF is established with a charitable organization, allowing donors to contribute various assets while retaining advisory privileges over fund distribution and investment.

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.

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.

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.

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.

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.

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.

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.

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.

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

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.

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