Back To School Time for Your Retirement

Back To School Time for Your Retirement

August 21, 2014 Investing Newsletter Retirement Planning RMDs Stock Market Uncategorized 0

With summer just about over, it’s that time again – time for kids and grandkids to go back to school.  The past few weeks have been full of purchases and preparation by parents and grandparents all across America to get the kids prepared for the new school year.

Just as important, this is also the time of year to check in on your retirement plan.  There have been many changes this year in rules, laws and regulations.  So it is back to school time for your retirement plan as well to make sure your plan is updated and accurate, and to make some strategic moves before years end.

In your pre-retirement and retirement years, proper education and constant monitoring is needed because each and every year there are tax law changes, interest rate changes, changes in the economy and financial markets, and most importantly, changes in your specific goals and objectives.  So you need to keep up your knowledge of all these changes so you can make the proper and strategic adjustments to your retirement plan every year.  Specifically for 2014, here are some things to consider.

Required Minimum Distributions (RMD) – we have a little over 4 months left in the year.  That is how much time you have to make sure you meet your RMD for 2014.  For our clients, Kyle has almost all the RMD’s scheduled.

Roth Conversions – there is a little over 4 months left in the year to also do a Roth IRA conversion.  While not for everybody, Roth conversions are one very popular way of becoming more tax efficient.  Not sure if you should convert?  I have a great one-pager on the topic.  Just hit me up and I’ll send it over to you.

Prepare For Higher Interest Rates and Bond Issues – The Federal Reserve has slowly begun tapering its bond purchasing program and getting back to normal operations.  As for interest rates rising…that’s still a mystery.

Coming Soon: The New QLAC Annuity –These new annuities will offer you a unique tool to help make sure you don’t outlive your money.  All we have to do is wait for the IRS to finish writing the new regulations.  Could take decades they way thing now move (or don’t move) in Washington.

New Rollover Rules – Earlier this year, the tax court issued stricter rules regarding IRA rollovers that take effect January 1st of the new year.

Back to school time is not just for kids anymore. You also have to make sure you go “back to school” each and every year to keep informed on all the latest changes, and to make the proper and strategic moves to keep your planning up-to-date, and in-line with your specific goals, objectives, and desires.

Join Jeremy and me every Sunday on the Your Retirement Quarterback radio show as we will be diving into the details of the factors above and more to give you some of the education you need for the remainder of the year.  The show airs on Sunday at 12:00 noon on WNTP (990 AM) or go online at next week to hear the recording.  As always, feel free to call me at 215-657-9200 or e-mail me at [email protected]

Have a fun weekend…

Peter Signature

Your Retirement Quarterback®


Registered Investment Advisor with Franklin Retirements Solutions (FRS), Inc. and an Investment Advisor Representative of Brookstone Capital Management (BCM), LLC. Investment Advisory Services are offered through BCM, a Registered Investment Advisor. FRS and BCM are independently owned and operated. Annuities are designed for long term financial planning and are not designed for short term investment strategies. Guarantee periods or annuity payments may be subject to restrictions, fees and surrender charges as described in the annuity contract. Guarantees are backed by the financial strength and claims paying ability of the issuing insurance company. 

The information and opinions contained herein are provided by third parties and have been obtained from sources believed to be reliable, however, we make no representation as to its completeness or accuracy. The information is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet the particular needs of an individual’s situation. Content is provided for informational purposes only and is not a solicitation to buy or sell any products mentioned.