Insights

No two states are alike when it comes to taxes. They all have their own rules, rates and special tax breaks. As a result, your overall state and local tax burden in one state can be thousands of dollars more (or less) than in another. What about your state? Are you in a high-tax state or …

Qualified charitable distributions from an IRA provide individuals over 70½ with a way to receive income tax savings on charitable gifts—even if they decide to take the newly increased standard deduction. For tax year 2017, 37 million income tax returns reported charitable donations. For 20 …

If you’ve been covered by a generous employer group health plan, you may be in for a rude awakening when you retire. Here are some tricks for keeping health care costs under control after you retire. Although the government may subsidize some of your health care costs under the Medicare pro …

It’s a big transition when you leave the workforce to live off your savings, requiring an attitude adjustment in both you and your advisor. Here are the issues to consider when time, compounding, and conventional investment principles no longer work in your favor. Read the full article here …

Last week Debbie was in Minnesota presenting the keynote address “How to Thrive During the Consumer Revolution” to over 1,200 Thrivent Financial Advisors. The feedback was amazing, and they particularly enjoyed the personal anecdotes and stories Debbie shared about going to the …

Paying the penalty may be worth it if the end result increases your assets. A case of a couple saving for retirement shows that a penalty is a small price to pay in building a bigger nest egg. Whether it’s sports, taxes or life, we’re programmed to avoid penalties, and usually that’s a good …

Medicare Open enrollment began on October 15, 2019 and will end on December 7, 2019. Don’t be spooked by the in’s and out’s of Medicare and Social Security! Click here for more!

With the demise of guaranteed pensions, and in light of the risks you face in managing your own retirement assets, maximizing Social Security becomes a critical part of retirement planning.

You’re probably aware that if you work and therefore pay into Social Security, you’re entitled to benefits in retirement. But what if you never worked? What if you were the one in your family who stayed home to raise kids or maintain the household?

When you reach age 70½, the Internal Revenue Service instructs you to start making withdrawals from your traditional IRA(s). These withdrawals are also called Required Minimum Distributions (RMDs). You will make them, annually, from now on.1

You are not the only one who needs to be on guard about their personal data safety. Minor children are 35 times more likely than adults to suffer ID theft. Here’s what parents need to know.