November 2019 Monthly Recap

Don’t Forget to Set Your Clocks Back! Daylight Savings Time ends this weekend, and it is time to “fall” back. Don’t forget to adjust your clocks back one hour on Nov. 3 at 2 a.m. and enjoy an extra hour of sleep!     Is Now The Time to Refinance?  If you have been considering …

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Roth 5 Year Waiting Period Rules

There are some unclear and misunderstood rules that exist for ROTH IRA distributions. Qualified Distributions, which are both tax and penalty free, are distributions that occur 5 years after the first Roth IRA account is established, and the account holder is over age 59.5. For all other distributions, unless there is an exception, distributions may …

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The House Passes the SECURE Act

Many Americans do not have enough saved for retirement, with only 51% of workers having access to a work place retirement plani. In an effort to bridge the savings gap, a number of bills have been introduced to Congress this year. The Setting Every Community Up for Retirement Enhancement Act of 2019, known as the …

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Gray Divorce: Dividing Assets Can Impact Retirement

Although most people who marry hope their unions will last forever, about 50% of first marriages in the United States end in divorce.1 Individuals age 50 and older are still less likely to get divorced than those who are younger. Even so, the divorce rate for Americans under age 40 has declined since 1990, while …

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Retirement Contribution Limits Increase in 2019

The IRS has announced retirement contribution limits for 2019.  It will be the first time in six years that Individual Retirement Accounts have seen an increase! Contribution limits will increase not only for IRAs, but for 401(k) and other defined contribution plans as well. The IRA annual contribution cap will increase from $5,500 to $6,000.  …

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