Subject: May 2014 Newsletter

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Understanding Dynasty Trusts

Managing estate taxes can be a significant challenge for many affluent families and individuals. Therefore, careful planning is the best way to reduce estate taxes and maximize assets transferred to heirs. In the absence of an adequate plan, heirloom property or a family business that involved a lifetime of hard work may have to be sold to satisfy tax obligations. Fortunately, there are several unique planning mechanisms that can help individuals maintain wealth for generations to come. One such tool is the dynasty trust. 

Women face retirement-saving challenges

Saving enough for a secure retirement is a tough proposition for anyone, regardless of age or income. But if you happen to be born with a pair of X chromosomes, it's that much harder still. Indeed women face a unique set of challenges when it comes to meeting their financial goals, including longer life expectancy, fewer years in the workforce and persistently smaller paychecks than men. Marital status and occupation aside, they are simply at greater risk of outliving their assets.

Welfare rate exceeds the employment rate in 11 states

These 11 states, as shown in the picture above have a shocking common fact, that their welfare rate exceeds their employment rate. As of the 2012 report by the Senate Budget Committee, the average U.S. Household below poverty received $168.00 a day in government support, where in contrast the average household income adds up to $137.13 a day. The support includes food stamps, housing support, child care, Medicaid and other benefits. In conclusion, citizens on welfare receive $30.87 more than an average working citizen. 

Are reverse mortgages easy money or just a dumb move?

Faced with rising medical expenses and longer life expectancies, many seniors are turning to their single largest asset as a source of supplemental income their home. Indeed, reverse mortgages enables seniors who are 62 and older to convert a portion of the equity in their home into cash without having to sell. As the name implies, such loans are structured as the mirror image of a regular mortgage. 

California's "Highly Compensated" Public Employees

"Local, State and Federal California-based Public Employees clean-off $5 billion in annual payroll, perks and pension."

Today, we went live with 4.641 million salary and pension records from the local, state and federal levels of California government. It's robust California salary and pension transparency.

The 5 biggest estate-planning blunders

You've worked hard for what you have. You funded your retirement plan, paid off your home and amassed enough savings to cover future expenses. Indeed, estate-planning blunders are costly and common, even among the fiscally prudent. Any number of oversights can leave you vulnerable in the event you become incapacitated. Others can seriously compromise the amount your heirs will inherit when you die. 

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