Welcome to Retirement Scan, our daily roundup of retirement news your clients may be talking about.
As director of account anagement, Jill Dobbe builds strong relationships with Orgvue clients, guiding them to enhance their organizational planning capabilities through technological solutions. With more than two decades of expertise in strategic planning, human resources, and organizational development—including extensive experience supporting Fortune 100-500 organizations and serving within John Deere and a non-profit healthcare system—Jill is dedicated to empowering organizations to define and achieve their future strategies. Her comprehensive background encompasses successful leadership of initiatives in strategic workforce planning, analytics, organizational design, transformation, and change management across diverse industries and global environments.
A deal is more than just a top-line number and misalignment in culture and communications can cause conflict down the line.
RIA Soltis acquired accounting, tax and advisory firm GDM Private Financial Solutions, the latest example of client demand for integrated wealth and tax planning solutions.
Although planning for retirement can be complicated, seniors are advised to keep their investment portfolios as simple as possible, writes Morningstar’s Christine Benz. For example, clients should combine multiple tax-deferred retirement accounts such as traditional IRAs and 401(k)s into a single account, she writes. “Employing a single provider for all of these accounts can also greatly simplify your oversight and record-keeping responsibilities,” according to Benz.
While saving for retirement is necessary to secure retirement, creating a sustainable distribution strategy is just as important, a Forbes contributor writes. “The decisions you make as you enter retirement are key and can make or break your retirement success,” the expert writes, adding that one reason is clients “no longer will have earned income and the safety of getting a paycheck every couple of weeks” deposited into their accounts.
Seniors can expect a portion of their Social Security benefits to be subject to federal income taxes if their combined income exceeds a certain threshold, according to an article from Motley Fool. The combined income is their annual earnings plus 50% of their retirement benefits. For example, half of the benefits will be taxed if the combined income is between $25,000 and $34,000 for individuals, or between $32,000 and $44,000 for joint filers.
Virginia and Colorado are among the most-appealing locations for retirees to spend their golden years, due in part to top scores in affordability, health-related factors and overall quality of life.
Holding annuities as part of the retirement income strategy can be a smart strategy for clients to secure their stability in retirement, writes an expert in MarketWatch. These products “often get a bad rap for high fees, surrender charges, and complexity, but certain kinds of annuities can give you steady, pension-like income or insure against your running out of money if you wind up living longer than you expect,” according to the expert.
