Why do people claim their Social Security benefits when they do? A study in the Journal of Financial Planning offers new insights for our moneyman to share, here is Certified Financial Planner Paul Fain joining us now. LET’S REVIEW WHEN YOU CAN ACTUALLY START YOUR...
Retirement Planning
How to Stop Spending Your Retirement Savings on Adult Children
A recent study found that parents are spending twice as much on adult children than they save for their own retirement. Where is the money going? Where is it coming from? And, is there a better way? Our moneyman Paul Fain, president of Asset Planning Corporation,...
Are You Confident this Enrollment Season?
For most workplaces, the month of October is the Annual Benefits Enrollment period. It's an opportunity for eligible employees to enroll in or make changes to benefit plans for the upcoming year. Open Enrollment provides you the opportunity to make changes to...
How to Follow the Recipe for Retirement Survival
Have you been wondering how to make your money last through retirement? Dr. Wade Pfau has a recipe for retirement survival. Dr. Wade Pfau, professor of retirement income at the American College of Financial Services and director of retirement research at McLean Asset...
Doing Good GIVES You a Tax Break! Part 1
Learn how being charitable can improve your tax situation in retirement! Doing Good GIVES You a Tax Break is a three-part series. Watch Part 1 on Qualified Charitable Distributions below. You can also check out our recent blog about Required Minimum Distributions...
WBIR: Planning for Retirement
More than half of pre-retirees expect to continue working in retirement, but, how many retirees actually continue to work? Our moneyman, Certified Financial Planner Paul Fain joins us again to review your money and your future. PAUL, WITH PEOPLE LIVING LONGER IT...
You may owe a 50% penalty tax on your IRA!
Individuals who deposit pre-tax funds into an Individual Retirement Account (IRA) or employer-sponsored 401(k) retirement account are required to begin withdrawing a minimum dollar amount each year once they reach age 70 ½. The Internal Revenue Service (IRS) requires...
WBIR: Save for Retirement or Pay Off Student Loans?
Millennials—the generation of Americans born between 1982 and 2000—now outnumber Baby Boomers. Many in this younger generation are tackling a dilemma few before them have had to face: Save for retirement or pay off student loans? Paul Fain, President of Asset...
KNS: How much money do you need for retirement?
Featured in the Knoxville News Sentinel: May 29, 2018 How much is enough? Obviously, it is a subjective question. Enough to just get by? Or enough to be “comfortable?” According to a 2017 Charles Schwab survey, respondents said they would be financially comfortable...
WBIR: Saving for Retirement
ARE YOU ON TRACK? SAVING FOR RETIREMENT Would you believe that one in six Millennials has already saved $100,000? How much should YOU have saved to be ready for retirement? THAT FIGURE FOR MILLENNIALS IS SURPRISING… Some people in their 20s are strong savers! Lack of...