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The U.S. government wants to encourage citizens to save for retirement and for advanced education, and one of the best incentives for saving is a tax break. These plans work differently in how the investor ultimately gets the tax break.

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If tax rates increase in the future (highly likely based on historical data), or if your tax rate in retirement will be higher than your tax rate now, a Roth IRA could be a banner idea. Investors who expect to have a higher tax rate in retirement have the most to gain with a Roth IRA, because you pay lower taxes on contributions now to avoid higher taxes on withdrawals later.

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The 10-year period began January 1, 2008, which means we are in the final year of the challenge. While we don't know the funds selected by Protégé, we do have a nine-year performance update — and it's not pretty.

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These are questions to be addressed.

However, a couple's retirement is dependent on a few other financial disciplines that are interconnected with retirement planning to flesh out the entire discussion.

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Many people who have saved millions of dollars to retire comfortably are now scared to spend it.

Despite sobering statistics about most Americans' lack of retirement savings, many people have done an admirable job of socking away enough money.

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How to avoid family financial sabotage [0.03]

Posted on Aug. 7, 2017, 11:55 a.m. by Financial Advisor Hub @ [source]

Deciding not to expect repayment can reduce your anxiety.

Regardless of whether you fund a choice or charity situation, it is important to determine how much and how often you're willing to shell out money and whether you will set up repayment terms.

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Without initiative or proper guidance, many of us never learn about fundamental retirement-planning steps until we've already made a mistake. If you watch enough financial-planning ads on TV, you'll notice a consistent theme: Your financial plan should reflect the singular goal of retiring at a specific age and sailing off into the sunset without a care in the world.

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My two millennial children aren't into paper documents. Hard-copy documents will help you prove your identity and justify well-deserved benefits if your identity is stolen or key electronic keys are irreparably compromised.

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The benefits of a home-equity line of credit [0.15]

Posted on Aug. 1, 2017, 11:52 a.m. by Financial Advisor Hub @ [source]

When it comes to your financial stability, planning ahead is essential. A home-equity line of credit can give you an added level of financial security for the future and is best considered while you're in a healthy financial position.

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After what seemed like a never-ending series of delays, speed bumps and other challenges, the Department of Labor's fiduciary rule finally went into partial effect on June 9. Although it still has many loopholes, at its core the rule requires financial advisors to act in the best interests of their clients when advising on retirement investment accounts.

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How can you create a financial freedom plan?

Know that developing greater awareness of the emotions and judgments that create your spending "needs" will lead to change.

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How to figure out if you can retire early [0.10]

Posted on July 25, 2017, 11:55 a.m. by Financial Advisor Hub @ [source]

When you're in the early or middle parts of your working career, retirement can seem like nothing more than an impossible dream. But at some point, usually during your mid-40s, the idea of no longer working starts to become more of a reality.

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A client met with me to discuss his dream of taking an early retirement.

This client story illustrates an important danger of rolling your 401(k) plan over to another plan too soon.

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You may want to try a combination of both. With this strategy, you take out a 30-year mortgage but plan to put extra payments toward principal over the loan to pay it off sooner.

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In my view, making your money last can largely be boiled down to five key levers.

I view the challenge of how to make your money last as a seven-step process.

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Nevertheless, advisors say that in some cases a variable annuity ends up being the best option for a portion of an investors' retirement money. But even if you are one of those investors, advisors caution against putting more than a third or so of your retirement money in a variable annuity.

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Every client is different, and therefore every conversation is different, but there are also a number of similarities. In two separate meetings with two separate longtime clients, I had the same piece of advice: "Go spend some money" was my message to both.

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There are many reasons to dislike the alternative minimum tax, which President Donald Trump has proposed to repeal in his current tax plan.

For one thing, it would contribute to a significant federal budget shortfall, and for another, its repeal may have unpleasant unintended — and intended — consequences to affected taxpayers.

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While a Roth individual retirement account can certainly help increase the size of your nest egg, it's always important to weigh the pros and cons before you invest, says Rianka Dorsainvil, a millennial certified financial planner and owner of Your Greatest Contribution.

Dorsainvil says it's important for everyone to understand all the benefits offered when investing in a Roth IRA.

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Because the estate-tax rate is so high, someone near the end of their life has a strong incentive to give their assets away so their heirs can claim the assets were not part of the estate and avoid the tax. By imposing a tax on gifts, the ability to make "deathbed" transfers to avoid the estate tax is reduced.

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