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Retirement Planning Archives | Page 2 of 2 | Wealthspire Advisors

Apr 12 2018
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account beneficiaries

Naming Account Beneficiaries

By and Guides & Whitepapers
Don’t Overlook this Important Planning Opportunity Before she passed away, Jade was diligent in making sure her will was in order, which left her entire estate to be equally divided between her two sons, Samuel and Benjamin. However, instead of naming them joint account beneficiaries on her brokerage and bank accounts, she named Samuel as sole beneficiary on her large brokerage account and Benjamin as sole beneficiary on her modest savings account. When Jade passed away, nearly all her assets passed to Samuel and Benjamin outside of her will according to her beneficiary designations. However, Samuel received much more than…
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Mar 15 2018
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early 401(k) withdrawals

Early 401(k) Withdrawals: What You Need to Know

By Blog
401(k) plans are designated as tax-efficient retirement savings vehicles, with the idea that funds contributed will be used only to fund retirement. Following the rules of your 401(k) means you can enjoy pre-tax contributions and tax-deferred growth that maximize your assets later in life. That said, instances can come up where you may wonder how easily you could access those funds in a pinch. Individuals thinking about early withdrawals from their 401(k) accounts should know that this process can severely limit the growth of your portfolio and subjects you to penalties. Here we examine what those penalties are and under…
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Feb 15 2018
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early 401(k) withdrawals

Thinking About Retiring Early? Pay Attention to These Factors

By Blog
Sixty-six and two months is the age the Social Security Administration considers full retirement age for those born in 1955. This will gradually rise to 67 for those born in 1960 or after. The financial realities of most workers in the U.S. require that they remain part of the workforce until full retirement age. Yet some seek to be the exception to the rule. For a high-income earner who maintains an aggressive savings strategy throughout her career or for a successful business owner who sells his operation at a profit, the option to retire early may be realistic. Those who…
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Nov 29 2017
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inherited IRA

What To Do If You Inherit an IRA

By Blog
Losing a loved one can bring not only an emotional burden but also significant financial responsibilities related to settling the estate. If you are a beneficiary to retirement plan assets, you may inherit control of all or part of a retirement plan account. So, what exactly can one do with an inherited Individual Retirement Account (IRA) or a Roth IRA? What responsibilities do you have to the newly inherited account? The answers to these questions may depend on your relationship to the deceased. Here I will discuss several factors that will determine what you can do with inherited retirement assets.…
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Oct 31 2017
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How Much Do You Need For Retirement?

By Blog
The question of “how much money do I need to save for retirement?” is one of the most common for American workers, and one of the trickier questions to answer. The answer, of course, is “it depends.” But how can you begin to form an estimate? There are plenty of online calculators out there, and using one of these can at least provide a ballpark estimate to help you establish investment strategies and savings targets. However, beyond plugging some numbers into an algorithm, a good estimation factors in some important elements: proper attention to a long-term plan, realistic expectations, and…
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Oct 17 2017
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investment goals

Reaching Your Long-Term Investment Goals: Get Started with a Roadmap

By Blog, Guides & Whitepapers
You are interested in a Long-Term Investment Strategy but not sure where to start. Good! This is for you. Throughout the journey of our professional careers, we will encounter many major decisions, some of which we are more prepared for than others. Depending on your background and interests, you may understand that you need a plan for long-term investment goals, but do not know where to start. If so, know that you’re not alone. To build confidence in your plan, it is important to understand that building wealth through a long-term investment strategy is a journey with many options, detours,…
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Apr 02 2017
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A Brief Guide to IRAs, Individual 401(k)s and Self-Employed SEP IRAs

By Blog
During the tax filing season we get a lot of questions concerning how much individuals can contribute to different types of retirement savings accounts. While we always recommend that you check with your accountant before making contributions, you can use this article as a brief guide to some of the finer points of making and deducting contributions to IRAs, Individual 401(k)s and Self-Employed SEPs. We have specifically limited our discussion to retirement vehicles that are available either to all individuals or self-employed individuals with no employees. Individual Retirement Accounts (IRAs) You have until your tax return filing deadline, not including…
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Oct 24 2016
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investing mistakes

What Should I Do With My Old 401(k)?

By Blog
It’s a question that comes up often – what should I do with my old 401(k)? There is no one-size-fits-all answer, and responses provided by financial advisors will be increasingly scrutinized if the Department of Labor’s (DOL) fiduciary rule is enacted. The rule mandates that advisors providing retirement advice act in the best interest of the client, which is called a fiduciary responsibility. The purpose is to protect retirement funds from professionals looking to profit at the expense of investors’ interests and ensure that the advice investors receive is right for them. Sontag Advisory, which has been a fiduciary since…
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