Working past age 62

Inheritances are a complicated thing. Not only are there often strings attached in the eyes of the government, unexpected taxes, and complicated bequeathments, but there are also potential conflicts within families. And not to mention the fact that the potential windfall was the result of a relative's death. Inheritances are very complicated.

When approaching retirement, getting your finances organized is one of the first steps you should take.

By: Kathy Longo, CFP^®, CAP^®, CDFA

Getting a clear financial picture can help ease the transition into retirement because, at the very least, you’ll know what accounts you will be drawing from, where they are being managed, how your investments can continue to generate income for you, and what tax liabilities they may impose. It requires discipline and clarity to keep your finances organized before and during retirement.

Retirement Accounts

If you are like most of your contemporaries, you have held two or three or more positions at different companies over the course of your career. As a result, you likely have several 401(k) accounts to consider as well as a SEP, Simple IRA, 403(b) account, deferred compensation plan and/or a pension. It’s important to make a list of your accounts and, if you are married, a separate list for each spouse. It also helps to make an additional list with any non-taxable accounts like a Roth IRA or Designated Roth.

Hiring and retaining high quality advisors and clients isn't easy, but having a company culture that aligns with their values can help.

In this article from Financial Advisor IQ, David Blain, CEO of BlueSky Wealth Advis

Submitted by Jared Bilodeau on March 30, 2016

Be sure to read this blog post from Social Security's website (posted Monday, March 14, 2016) on the new laws for claiming retirement benefits:

There is a lot of flexibility built into the Social Security retirement benefit system allowing people to choose when to start their retirement benefits — but some of that will soon change. On November 2, 2015, President Barack Obama signed legislation that places limits on certain options such as “file and suspend.”  

I’ve received a number of letters asking for help with Social Security and Medicare questions. While there are many sources of information on the topic, it’s always best to start with official government sources.