Retire Texas Style!

It's TAX TIME!  Steve discusses what you need to know about the stimulus payment's impact to your taxes!  

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President Biden has repeatedly told us that – unless we earn more than $400,000 a year – he won’t be raising our taxes.  But we know that he’s considering an increase in the capital gains tax. So, if this happens, how do we approach our holdings in stocks? 

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We’ve seen a lot in the news lately about GameStop.  Supposedly, individual traders banded together on social media to somehow manipulate that company’s stock price.  The claim is that these traders are getting rich – and they’re doing it at the expense of hedge fund managers.  Is this a way to make some easy money – or is it a case of “If it seems too good to be true…?” 

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What questions should you ask while looking for the perfect advisor for you? 

Then, a study by Capital One finds that the average age at which someone inherits money is 51, meaning the money comes just about the time the heir is trying to boost his-or-her nest egg.  So, let’s pose a hypothetical:  Suppose I’m in my 50s … I inherit maybe 50-or-100 thousand dollars … and I want to use that money to improve my retirement prospects - is this possible? 

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Happy New Year! Hear Steve explain what possible financial and tax changes could be coming our way in this new year and how he can help you protect and GROW your income. 

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BlackRock has started to offer something in certain 401(k)s that’s rather new.  The Wall Street Journal reports that five employers have signed up with the investment giant to offer annuities in their plans.  In theory, that would allow workers to receive retirement payments for the rest of their lives.  Could this savings approach turn into a trend?  How do you know if the annuity they’re offering is right for you?

The retail chain known for selling nearly everything for a buck-or-less, is warning that rising costs will force it to sell more products for $1.25 or $1.50!  That may not sound like much but – if you think about it – that’s a 25-to-50% price hike!  You’re known for designing retirement strategies – are there any that might help us maintain the value of our nest egg, over time? 

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Is now the time to take everything out of the market? Whats the best approach during this market volatility with an uncertain future?

Three months ago, one of the most common questions among baby boomers was “Can I afford to retire?” Now that the market has dropped, I’m guessing it’s even more common. Should the answer to that question be any different today than it was then? 

In these times of social distancing, you can still meet with Steve via a virtual meeting - CLICK HERE !

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Looking back at our childhood, many of us would agree that our parents had a harder life than we’ve had.  But the Money Talks News website argues that our parents had an easier retirement than we’ll probably have.  Why do you suppose that is? 

Visit Steve today! 

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Fox Business cites a survey showing that a majority of Americans believe the outcome of the election is going to hurt them, financially.  And surprisingly, people from both major political parties feel that way! 

Regardless of how you feel about the election results, there’s a good chance your tax rates will be going up in 2021.  But IRA expert Ed Slott tells Yahoo Finance it’s up to you to decide by how much. 

Hear how Steve says you can manage how much you give to  Uncle Sam!  

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The new healthcare estimates are in:  Fidelity says a 65-year-old couple retiring this year can expect to spend about $295,000 in healthcare costs, over the rest of their lives!  That’s $10,000 more than last year.  And considering that we’ll still have all our other retirement expenses to pay, how in the world do we prepare for that?

• Fidelity’s annual Health Care Cost Estimate says a 65-year-old couple retiring this year should expect to spend about $295,000 on health care costs alone in retirement.  (A single woman retiring at 65 in 2020 can expect to pay around $155,000 for health care during her retirement while a man at the same age may pay $140,000.)
• That includes Medicare Part A, Part B and Part D premiums and deductibles, but it does not include over-the-counter medications, vitamin supplements and glasses.  Long-term care insurance is also not included, which on its own could be an additional thousands of dollars a month.

If you're interested in meeting with Steve for a Complimentary Portfolio Review, call Steve today! This is a great opportunity to see where you stand today, what can you do to reach your retirement goals, avoid making financial mistakes that can set you back, and more!  

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