B-O-S-S

WHAT DOES

B-O-S-S STAND FOR?

Who's the BOSS?

BOSS is an acronym that we use to refer to the four key people everyone must consider with respect to retirement planning, i.e., developing an income exit strategy and ensuring all IRAs,

Is a big stock market correction coming? Notice any patterns?

The stock market has recently reached an all-time high, and many people are looking at their brokerage accounts and celebrating. However, I wouldn’t pop the corks on those champagne bottles just yet. There’s a chance that this bubble is about to burst with a big stock market correction on the horizon.

A look back at the S&P 500 might shed a little light on why many financial professionals believe a BIG correction is coming.

Key Points to Keep in Mind When it Comes to Social Security

When you are deciding when you should begin your Social Security benefit based on your personal circumstance, there are some important things to keep in mind.

What You Need To Know About Maximizing Your Retirement Income

What You Need To Know About

Maximizing Your Retirement Income

Baby Boomers in particular want to know whether Social Security will be there for them and how much they

can expect to receive. Most Baby Boomers do not know when they should apply for their Social Security benefits and how to maximize that benefit. Most importantly, many Baby Boomers are concerned that their Social Security benefit will not be enough for them to live on during their retirement. Before strategies can be discussed, it is crucial to understand the value of Social Security and what it can mean for you. Social Security basically offers a stream of income that you cannot outlive and it includes inflation adjustments, familiarly known as COLAs. For example, if your monthly Social Security income today is $2,000 and the annual COLAs are 2.8%, in 20

Prohibited Transaction Disqualifies IRA

Prohibited

Transaction

Disqualifies IRA

We often discuss the pitfalls of self-directed IRAs and the increased risk of prohibited transactions. In a recent Tax Court case, Ellis v. C.I.R. (T.C. 2013) 106 T.C.M. (CCH) 468, Mr. Terry Ellis’ entire IRA was disqualified, subjecting him to not only accuracy related penalties imposed by the IRS but also a 10% early distribution tax on the entire IRA.

What is the "Still Working Exception?"

What is the "Still

Working Exception?"

There is no still working exception for IRAs, Simple IRAs or SEP IRAs. This exception only applies to certain qualified employer retirement plans. If you have a qualified employer retirement plan,

The NUA Advantage

Many corporations offer their employees different kinds of incentives and/or bonuses. One of these is company stock held in a 401(k) or other qualified pension plan. If you hold stock from a previous employer in a qualified plan, you are eligible, under the IRS code, for special tax treatment on those assets based upon a concept called Net Unrealized Appreciation (NUA).