Think a QCD might be right for you? Here are some important things to know: QCDs can be made from a traditional IRA, inherited IRA, inherited Roth IRA, SEP IRA, or SIMPLE IRA, however you cannot be actively receiving any employer contributions to the account (SEP or SIMPLE). You must be at least 70 ½ years old at the time you plan to make the QCD. Your QCD can satisfy your RMD.

I know the question you’re probably asking yourself: Can’t I just take a smaller RMD? The answer is no. RMD is just like how it sounds–it is the minimum amount you need to take from your retirement account each year. Bluntly, it’s the IRS’s way of forcing you to take a certain amount of money from your tax-deferred retirement accounts so that they can get their taxes-owed.

Are you wondering when to buy long-term care insurance? It seems like a no-brainer…People live longer nowadays and we’ll all probably need long-term care at some point. Buying a long-term care policy sounds like the responsible thing to do. According to a study revised in 2016 by the Urban Institute and US Department of Health and Human Services, about half of today’s 65-year-olds will develop a disability and require some long-term care services.

Currently, the average American predicts that they’ll be retiring at the age of 66 and 25% of them believe that they will need at least $1 million to retire early and live comfortably. Ok, fair enough. But, here’s the thing. It’s not always about the amount of money that you have when you retire. There is no perfect “retirement calculator”. Your comfort level through retirement depends on how well you plan for it.

Retirement planning is something that people should always think about, but the way that they think about it and its level of precision changes as they approach retirement. Earlier in life, you’re trying to figure out how much to save and put towards retirement. Within 5-10 years of desired retirement age, you should be thinking about the below checklist to prepare for a smooth transition to retirement: 1.

There’s no way to put enough emphasis on the importance of succession planning. Consider for a moment all that you do for your business–from all of the major strategic decisions to the small daily tasks that keep things moving forward, and everything in between. You’ve worked hard up until this point, and would ideally like to stop burning the midnight oil post-sale with little to no follow-up commitment on continuing to oversee your life’s work.

The world can be unpredictable and volatile. Events like global pandemics, divisive elections, or soaring inflation bring about uncertainty and fear for investors. However, the best thing you can do is stay focused on developing a plan that will help carry your success forward so you can continue building the future you dream of. As the saying goes, even if the plan is simple, it may not be easy.

Think life insurance is a complete waste of money? You’d be dead wrong. The truth is, when planning over the course of a lifetime, an insurance policy is an irreplaceable component of your financial future. Consider for a moment – the possibility of how an unexpected death in the family can affect every aspect of a person’s life: education planning, estate planning, risk management.