
Lee Conrad
Former senior editorLee Conrad is a former senior editor of Employee Benefit News and Employee Benefit Adviser, and a former editor of Bank Investment Consultant.
Lee Conrad is a former senior editor of Employee Benefit News and Employee Benefit Adviser, and a former editor of Bank Investment Consultant.
While proceeds from life insurance are not subject to income tax, there are other taxes that will apply. But there are steps to take to avoid those liabilities too.
These property tax deferral programs are available to older homeowners who want to postpone real estate taxes provided they remain living in their home.
Most people, particularly younger clients, worry that they will not be able to get their Social Security benefits by the time they retire.
Plan design features like automatic enrollment and automatic increases are having a positive impact. Such steps are designed to increase participation even from people who may be suffering from inertia, says a researcher.
Millennials and other younger clients would see their Social Security benefits decrease 21% once the program runs out of funds by 2034.
Many single baby boomers opt to stay put in retirement because they have no children who would advise them to move to an assisted living or continuous care community.
When the financial clouds are gathering, your clients have preparations to make. Top of the list: reduce risk.
Seniors are likely to be in a lower tax bracket in the few years after retirement, creating a "sweet spot" for them to convert some of their traditional 401(k) or traditional IRA assets into a Roth account.
Clients could amass $1,000,000 even with an annual return of just 6.5%, an analyst says, if they take the right steps.
Despite the increase, the figure still represents a small percentage of the 16.1 million accounts that the company manages.