Should the Self-Employed Plan to Work Past 65?
Financial Advisor Indianapolis
by admin
1y ago
Some solopreneurs think they will “work forever,” but that perception may be flawed. Provided by Robert Nash About 20% of Americans aged 65-74 are still working. A 2016 Pew Research Center study put the precise figure at 18.8%, and Pew estimates that it will reach 31.9% in 2022. That estimate seems reasonable; people are living longer and the labor force participation rate for Americans aged 65-74 has been rising since the early 1990s.1,2,3 When do the self-employed anticipate retiring? A 2017 Transamerica Center for Retirement Studies survey finds that 56% of U.S. solopreneurs think they will ..read more
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Key Estate Planning Mistakes to Avoid
Financial Advisor Indianapolis
by admin
1y ago
Too many people make these common estate planning mistakes. Provided by Robert Nash Many affluent professionals and business owners put estate planning on hold. Only the courts and lawyers stand to benefit from their procrastination. While inaction is the biggest estate planning error, several other major mistakes can occur. The following blunders can lead to major problems. Failing to revise an estate plan after a spouse or child dies. This is truly a devastating event, and the grief that follows may be so deep and prolonged that attention may not be paid to this. A death in the family common ..read more
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Are Millennial Women Saving Enough for Retirement?
Financial Advisor Indianapolis
by admin
1y ago
The available data is more encouraging than discouraging. Provided by Robert Nash Women 35 and younger are hard-pressed to save money. Student loans may be outstanding; young children need to be clothed, fed, and cared for, and rent or home loan payments need to be made. With all of these financial obligations, are they saving for retirement? The bad news: 44% of millennial women are not saving for retirement at all. This discovery comes from a recent Wells Fargo survey of more than 1,000 men and women aged 22-35. As 54% of the millennial women surveyed were living paycheck to paycheck, this l ..read more
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Bull Markets Aren’t Forever: Have a Plan, Not Just a Stock Portfolio
Financial Advisor Indianapolis
by admin
1y ago
Diversification still matters. One day, this bull market will end. Provided by Robert Nash In the first quarter of 2017, the bull market seemed unstoppable. The Dow Jones Industrial Average soared past 20,000 and closed at all-time highs on 12 consecutive trading days. The Nasdaq Composite gained almost 10% in three months.1 An eight-year-old bull market is rare. This current bull is the second longest since the end of World War II; only the 1990-2000 bull run surpasses it. Since 1945, the average bull market has lasted 57 months.2 Everyone knows this bull market will someday end – but who wan ..read more
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When Someone Dies Without a Will
Financial Advisor Indianapolis
by admin
1y ago
Where do things proceed from that point? Provided by Robert Nash Every day, people die intestate. In legalese, that means without a will. This opens the door for the courts to decide what happens with their estates. When no valid will exists, state intestacy laws dictate how assets are distributed. These laws divide an estate evenly (or equitably) among heirs. Any assets held in joint tenancy go to the joint owner. Assets held in a trust transfer to the trust beneficiaries (with spouses getting a share of those assets in some states). Community property goes to a spouse or partner in community ..read more
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Social Security Benefit Disappears
Financial Advisor Indianapolis
by admin
1y ago
The End of File & Suspend for Married Couples A great claiming strategy to try & optimize Social Security benefits disappears. Provided by Robert Nash, Financial Advisor Congress just changed the Social Security benefit rules. On October 30, Capitol Hill lawmakers approved a two-year federal budget deal. As part of that agreement, they authorized the most significant change to Social Security policy seen in this century, disallowing two popular strategies people have used to try and maximize retirement benefits.1 The file-and-suspend claiming strategy will soon be eliminated for marrie ..read more
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National Save For Retirement Week
Financial Advisor Indianapolis
by admin
1y ago
National Save for Retirement Week Are you on target to reach your retirement goals? Provided by Robert Nash, Financial Advisor October 18-24 is National Save for Retirement Week – a reminder of the importance of saving and investing with the goal of a comfortable future. Are Americans saving enough for tomorrow? All kinds of articles will tell you that Americans are not. Those articles may not be telling the entire story, however. Undeniably, the average IRA balance in this country is smaller than it should be. According to the most recent quarterly survey data from Fidelity Investments, it wa ..read more
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IRA For College Savings
Financial Advisor Indianapolis
by admin
1y ago
Can an IRA Be a College Savings Vehicle? You might be surprised at its potential. Provided by Robert Nash, Financial Advisor An IRA is a retirement savings account, right? Indeed it is. IRA stands for Individual Retirement Arrangement. Even with that definition, however, there is no prohibition on using an IRA to save for other purposes, such as funding a college education. Why would anyone choose an IRA as a college savings vehicle? At first glance it may seem strange, since there are a couple of types of investment accounts dedicated to that goal in the first place. On closer inspection, IRA ..read more
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Inherited IRA – Things to Consider
Financial Advisor Indianapolis
by admin
1y ago
An Inherited IRA Here are some things to consider when you receive IRA assets. Provided by Robert Nash, Financial Advisor Be sure you understand your options. When the owner of an IRA passes away, his or her heirs must be aware of the rules and regulations affecting Inherited IRAs. Ignorance can lead straight toward a tax disaster. Please note that this is simply an overview. Rather than use this article as a guide, use it as a prelude before you talk to a financial services professional well-versed in IRA rules and regulations. Inherited IRA rules are remarkably complex, and that conversation ..read more
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Why DIY Investment Management Is Such a Risk
Financial Advisor Indianapolis
by admin
1y ago
Why DIY Investment Management Is Such a Risk Paying attention to the wrong things becomes all too easy. Provided by Robert Nash, Financial Advisor If you ever have the inkling to manage your investments on your own, that inkling is worth reconsidering. Do-it-yourself investment management is generally a bad idea for the retail investor for myriad reasons. Getting caught up in the moment. When you are watching your investments day to day, you can lose a sense of historical perspective – 2011 begins to seem like ancient history, let alone 2008. This is especially true in longstanding bull market ..read more
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