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5 Tips to Prevent Identity Theft

Dear Friends,

Many of my clients have expressed concern about the recent rise in identity thefts. If you’re concerned, here are some steps you can take to help defend yourself.

Do You Have A Retirement Savings Plan?

Do You Have A Retirement Savings Plan?

Without such strategies, Retirees can risk going through their savings too fast.

Provided by Clayton Shum

Every day, articles appear urging people to save for retirement. These articles are so prevalent that it may seem like retirement planning is entirely about getting people to save.

Actually, retirement planning concerns much more than that. It has another aspect well worth discussing: the eventual spending of all of that money that has been accumulated.

Too few Americans coordinate their retirement spending. Earlier this year, Ameriprise asked more than 1,300 savers aged 55-75 if they had a drawdown strategy in mind for the future. Nearly two-thirds of the pre-retirees surveyed did not. A third of the retired respondents to the survey also lacked spending plans.1

Your Annual Financial To-Do List

Your Annual Financial To-Do List

Things you can do before & for 2017.

Provided by Clayton Shum

 

What Expenses Could Change When You Retire?

What Expenses Could Change When You Retire?

Some costs could rise, fall or even disappear.

Provided by Clayton Shum

  

Your retirement may seem near at hand or far away, but one thing is certain: your future will differ from your present.

Financially, that fact is worth remembering. Some of the costs you have paid regularly all these years may suddenly decrease or fade away. Others may increase.

 

Happy October!

Dear Friends,

October is one of my favorite months of the year.  Seeing the world explode into new and interesting colors, smelling the crisp autumn air, and hearing the crackle of leaves beneath my feet are just a few of the sensations October brings.  We may get old, but the pleasures of the season never do.

Moving Into a Nursing Home Facility

Moving Into a Nursing Home Facility

What you and your loved ones need to know.

Provided by Clayton Shum

 

At some point, someone you love may make the transition from living at home to residing at an assisted-living facility or nursing home. When should that transition occur, and what factors must be considered along the way? And what don’t these facilities tell you?

Are You Insured?

Are You Insured?

Too many Americans have no life insurance. Their loved ones may pay dearly for that choice.  

Provided by Clayton Shum

September is National Life Insurance Awareness Month – a good time to think about the value and importance of insuring yourself.

According to a recent Bankrate survey, 42% of Americans have no life insurance at all. They may not know that life insurance coverage has become much more affordable than it once was.1

Many people ask if life insurance is really worth the cost; maybe you are among them. The simple answer to that question is yes. It can be stunningly cheap: a healthy, non-smoking man in his thirties may pay less than $45 a month for a $1 million 20-year term policy. Permanent life insurance costs more than term life insurance, but permanent life policies can build cash value over time; term policies cannot.2

Life insurance is about managing risk, and if other people rely on you financially, you need to have it in place in case your passing puts them at financial risk. When a spouse or parent dies, there are financial matters to address: a sudden lack of income for a household, bills and mortgages or rent to pay, final expenses such as funeral or cremation costs, and the cost of children’s education. Without adequate life insurance coverage, a household is hard-pressed to meet these immediate, financially draining challenges.

You Retire, But Your Spouse Still Works

You Retire, But Your Spouse Still Works

That development may mean lifestyle as well as financial adjustments.

Provided by Clayton Shum

 

Your significant other may retire later than you do. Sometimes that reality reflects an age difference, other times one person wants to keep working for income or health coverage reasons. If you retire years before your spouse or partner does, you may want to consider how your lifestyle might change as well as your household finances.

How will retiring affect your identity? If you are one of those people who derives a great deal of pride and sense of self from your profession, leaving that career for life around the house may feel odd. Who are you now? Who will you become next? Can you retire and still be who you were? Hopefully, your spouse recognizes that you may have to entertain these questions. They may prompt some soul-searching, even enough to affect a relationship.

The Trump & Clinton Tax Plans

How do they differ?

Provided by Clayton Shum

 

Seemingly every presidential candidate offers a plan for tax reform. You can add Donald Trump and Hillary Clinton to that long list. Here is a look at their plans, and the key reforms to federal tax law that might result if they were enacted.

Donald Trump revised his tax plan this summer. The latest plan put forth by Trump and his advisors contains the key features of the one introduced last year.

Under Trump’s plan, the standard deduction would rise. It would rise from the current level of $6,300 to $25,000 for single filers. Joint filers could claim a $50,000 standard deduction. (The GOP plan proposes respective standard deductions of $12,000 and $24,000.) Instead of seven federal income tax rates, there would just be three – 12%, 25%, and 33%. (In his original tax reform blueprint, the rates were 10%, 20%, and 25%.)1

The estate tax would vanish entirely under Trump’s plan. Taxes on capital gains and dividends would top out at 20%.2,3

Chapters of Retirement

The Chapters of Retirement

The five phases of life after 50 & the considerations that accompany them.

Provided by Clayton Shum

  

The journey to and through retirement occurs gradually, like successive chapters in a book. Each chapter has its own things to consider.

 

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