Early Retirement Distributions You may choose, or be forced into choosing, early retirement. Retirement before age 59½ may create income challenges. You are not yet eligible to receive retirement benefits from Social Security. You may or may not have a monthly pension...
Wills and Intestacy A will allows the testator (the person creating the will) to specify: • Who receives property at the testator’s death. • Whether beneficiaries receive gifts outright or in trust. • Who will act as personal representative. • Who will be the guardian...
What is an IRA? An IRA is an individual retirement arrangement. It is a personal savings plan that gives you tax advantages for setting aside money for retirement. An IRA is referred to as a traditional IRA if it is not a Roth IRA or a SIMPLE IRA. Traditional IRAs...
What is a Roth IRA? A Roth IRA is an individual retirement arrangement. Itis a personal savings plan that gives you tax advantages for setting aside money for retirement. An account must be designated as a Roth IRA when opened. Roth IRA tax advantages and rules...
Personal Financial Planning Budgeting Steps to managing income and expenses include: • Be realistic when making a budget. • Identify monthly outflows as living expenses, savings, and discretionary. • Estimate low for income. • Estimate high for expenses. • Track every...
