Data shows that a majority of Americans are losing thousands of dollars each year because they chose to start taking Social Security at the wrong time. One national study shows that retirees as a group will lose $3.4 trillion in income they could have received over their lifetime because they start taking Social Security the …
Business Transfers
Transferring a Company Retirement Account
If you have ever changed jobs, there is a chance you left your retirement account behind. If you are changing jobs right now, you have some options about the company retirement account. You might want to get some good advice.
Are you changing jobs, retiring or is your company retirement plan shutting down? If the answer is yes to any of these, be sure the assets roll into an eligible retirement account instead of having them paid to you. That way you avoid any tax consequence. And the money continues to enjoy tax-deferred earnings.
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Don't Say NO to FREE Money
Many people work for a firm with an employer sponsored retirement plan. Often those plans offer matching money to increase your savings. Don’t miss out.
Planning for retirement can be a very intimidating thing, and oftentimes it may seem daunting with the amount of student loans, house payments and day-to-day expenses. Although making financial decisions and large lifestyle changes may seem difficult, one easy step to make towards retirement is taking advantage of retirement plans from employers that match. This is an opportunity of which you should always take advantage. Read Full Article
What are the Differences Between a Roth IRA and Traditional IRA?
When it comes to planning for retirement there are a variety of ways that you can go about saving. If your employer offers a retirement plan and match, you should definitely take advantage of this opportunity. While becoming less common, some employers still offer pensions, which offer a guaranteed payout at retirement. However, if you …
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Ag Jobs for Those Who Want Them
Part of an effective legacy plan usually includes at least one off-farm job. The supplemental income and benefits are often key to a successful transition from one generation to the next. Good News! The USDA says that there are more entry level agriculture jobs than graduates.
As we map out a transition plan to move the farm business from one generation to the other, two things are common. One is that the junior generation goes to college to develop skills to help improve the business. Two is that as the transition unfolds, the junior generation typically needs supplemental off-farm income to finance the transition process. The good news is that there is plenty of work for a college graduate with a degree in Agriculture.Read Full Article
Make Your Farm Great Again – Keep the Kids in the Business
With the election of Donald Trump as U.S. President there has been a lot of talk about his family and their role in the family business. For many farm business owners this is common. Is it always good for the business?
We have seen a lot of the Trump family in recent months. The new President has said he will turn over all his businesses to his adult children. Is your operation ready for a similar change of leadership? Would it be a good idea?Read Full Article
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