retirement

Variable Annuities for Retirement Savers Go Back to Basics

Even with today's simplified variable annuities, you need a good grasp of the pros and cons before putting part of your nest egg into one.

After years of making variable annuities more complex and expensive, some insurers are offering products that have fewer bells and whistles, are easier to understand and have lower fees.

If you have a higher-cost variable annuity, you might consider rolling the assets to a lower-fee annuity through a tax-free “1035 exchange.” But first check if you would be subject to a surrender charge, which can cost up to 7% to 10% of your balance if you leave the annuity in the first 7 to 10 years. The income rider won’t transfer if you cash out or switch annuities, so be wary of giving up guaranteed income based on a benefit-base balance that is higher than your investment value.

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taxes

Tax Wrinkles for Work-at-Home Employees During COVID-19

Are your home office expenses deductible? How does going out of state to work for a while affect your tax picture? There are some interesting wrinkles…
November 9, 2020
Retirement: It All Starts with a Budget
personal finance

Retirement: It All Starts with a Budget

When you’re meeting with your financial planner, do you talk about your budget? If not, you should.
November 10, 2020
Will Joe Biden Raise YOUR Taxes?
taxes

Will Joe Biden Raise YOUR Taxes?

During the campaign, Joe Biden promised that he would raise taxes for some people. Will you be one of them?
November 10, 2020

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Saving money is a marathon not a sprint. And even low gas taxes can help keep money in your pocket.
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Election 2020: States With Tax Questions on the Ballot
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Election 2020: States With Tax Questions on the Ballot

On November 3, voters in 17 states weighed in on a variety of proposed changes impacting taxes on everything from property to pot.
November 19, 2020