The Navigoe Blog

Category: Retirement

SECURE Act and Tax Extenders Summary

As you rang in the new year with a kiss and a glass of champagne, or perhaps (like me) already fast asleep, a new set of laws designed to improve the retirement outlook for millions of Americans took effect. The law entitled, Setting Every Community Up for Retirement Enhancement Act (through a bit of verbal…

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Using the Roth IRA to Give the Gift of Financial Security

Help your children and/or grandchildren to build good financial habits by setting up and contributing to a Roth IRA this year, and every year. Key Takeaways 1 in 3 Americans have less than $5,000 saved for retirement. (CNBC Aug. 2018) Just like eating healthy and regular exercise, the sooner one gets into the habit of…

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Social Security announces 2% inflation increase: what does it mean and how does it work?

Social Security has long been considered one leg of the “three-legged stool” of retirement planning. The other two being employer pensions and personal savings. However, employer pensions are quickly vanishing, and personal savings rates generally remain far too low to make up the difference. Of course, this amplifies the importance of Social Security as part…

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Celebrate Your Financial Independence

July is the month that we gather with family and friends over barbecue and fireworks to celebrate our nation’s independence. This month, take a moment to consider your own financial independence. What is financial independence? Financial independence is a concept that means something different to everyone. To some, it is being able to buy a…

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Navigoe 2014 Market Review

The year 2014 will be remembered as another great year to be a stock market investor, both in the US and abroad. Of course, as is usually the case, the year-end results give us a limited perspective on the actual events of the year. It’s been said that you know your portfolio is well diversified…

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Pension: Lump Sum or Monthly Annuity?

As you approach retirement, one important decision you may be faced with is whether to take your company sponsored retirement plan in a single lump sum distribution or as a traditional monthly pension. The lump sum may provide you with more money than you have ever had all at once. You may find that exciting,…

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Social Security: what it is and what it isn't

There are a lot of myths and misinformation about Social Security. You hear these things all the time, “it’s going broke” “I’ll never see a dime from Social Security” “I get less because I’m considered wealthy” “Social Security is a big ponzi scheme!” Well, it’s time to dispel the myths. I offer you my thoughts…

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The Great Recession, Five Years Later

The five year anniversary of the “Great Recession” stock market bottom was this past Sunday. Reflecting on that day, and all the chaos and fear that surrounded it, actually reminds me of a story from a few years earlier. In 2006, my wife and I took a trip to New York with some friends. We…

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The Backdoor Roth IRA: the opportunity and the caveats

The Roth IRA. It’s a good deal, right? Tax-free growth, no forced distributions at age 70½ and inheritors don’t have to pay income tax on distributions. So, why wouldn’t you contribute to a Roth IRA? Well, there are a couple of requirements and limits. For 2014, the maximum you can contribute is $5,500 ($6,500 if…

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