Our office is OPEN to help Maryland Residents.

Archive for the ‘Retirement Planning’ Category

Transforming 401(k)s into Automatic, Flexible Retirement Income

Many Americans fear running out of money in retirement due to a lack of savings, and many don’t know how to determine how much of their retirement funds they can afford to withdraw each year. In a 2019 survey by the National Institute on Retirement Security, 73 percent of Americans said they don’t have the financial skills to manage their money in retirement and 79 percent of retirees said they lacked the investment skills to ensure their retirement savings last throughout retirement. Source/more: MarketWatch/NextDoor   For a complete list of upcoming seminars, visit our website at www.davidwingate.com. Peace of mind…

Read More »

The Retirement Crisis, by the Numbers

These days, overwhelming student loan debt and the uncertain future of Social Security’s solvency garner most of the attention, but there’s another equally severe financial crisis looming on the horizon for millions of Americans. Source/more: USA Today   For a complete list of upcoming seminars, visit our website at www.davidwingate.com. Peace of mind is only a call or click away! For an Initial Consultation call Estate and Elder Planning by David Wingate at (301) 663-9230 or visit www.davidwingate.com David Wingate is an estate planning and elder law attorney at Estate and Elder Planning by David Wingate. The Estate and Elder…

Read More »

Bill to “Improve” Health Savings Accounts for Medicare Users Comes with a Big Downside

A new bill in Congress aims to give older Americans a tax break for setting aside money for medical expenses, a strategy many give up when they reach age 65. Source/more: CNBC   For a complete list of upcoming seminars, visit our website at www.davidwingate.com. Peace of mind is only a call or click away! For an Initial Consultation call Estate and Elder Planning by David Wingate at (301) 663-9230 or visit www.davidwingate.com David Wingate is an estate planning and elder law attorney at Estate and Elder Planning by David Wingate. The Estate and Elder Planning office services clients with…

Read More »

Beware, the IRS Is Eyeing Your Inherited Money

Few noticed when the House of Representatives in May overwhelming passed the imaginatively named “Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019.” The vote was 417-3. Full Story     For a complete list of upcoming seminars, visit our website at www.davidwingate.com. Peace of mind is only a call or click away! For an Initial Consultation call Estate and Elder Planning by David Wingate at (301) 663-9230 or visit www.davidwingate.com David Wingate is an estate planning and elder law attorney at Estate and Elder Planning by David Wingate. The Estate and Elder Planning office services clients with…

Read More »

Here’s How Much You Should Put in Your 401(k) Each Month to Retire with $2 Million

Experts often recommend saving up $1 million before you retire. But for many people, even $1 million may not be enough, thanks in part to longer life expectancies and disappearing pensions. Full Story     For a complete list of upcoming seminars, visit our website at www.davidwingate.com. Peace of mind is only a call or click away! For an Initial Consultation call Estate and Elder Planning by David Wingate at (301) 663-9230 or visit www.davidwingate.com David Wingate is an estate planning and elder law attorney at Estate and Elder Planning by David Wingate. The Estate and Elder Planning office services…

Read More »

For a Larger Social Security Check, Tap Your IRA First

Many people who wind up with a smaller Social Security check because they claim their benefit early could have waited longer to file, thanks to funds in their individual retirement account. That’s the finding from a recently published study in the Journal of Pension Economics & Finance. Source/more: CNBC   For a complete list of upcoming seminars, visit our website at www.davidwingate.com. Peace of mind is only a call or click away! For an Initial Consultation call Estate and Elder Planning by David Wingate at (301) 663-9230 or visit www.davidwingate.com David Wingate is an estate planning and elder law attorney…

Read More »

Half of Older Americans Have Nothing in Retirement Savings

Almost half of Americans approaching retirement have nothing saved in a 401(k) or other individual account, although this new estimate, from the U.S. Government Accountability Office, is slightly better than a few years ago. Source/more: Bloomberg

RETIREMENT PLANNING

Most of us look forward to retiring. A properly planned retirement can afford individuals with the opportunity to spend time with family and friends, travel to desired destinations, and commit time to overlooked hobbies. However, retirement planning involves more than just mathematical calculations. Successful retirement planning undertakes a comprehensive evaluation of your retirement goals, available benefits, and existing estate plan. Our time in the workforce culminates in retirement. For those individuals approaching retirement, the transition from the active workforce to retirement may be overwhelming due to many variables. For instance, since Social Security was introduced, the average life expectancy of…

Read More »

A WORRY-FREE RETIREMENT: Enjoy yourself knowing you are protected

In retirement your assets generate your income. And to have the kind of retirement you’ve always wanted – spending time with your family, traveling and more – you have to ensure that your retirement income is protected. To enjoy retirement without having to make any drastic lifestyle changes, without having to rely on help from your friends or family, and without having to accept substandard levels of care as you age, your retirement income strategy has to account for three important factors: How long you will live How long your investments will perform over time How much you will spend…

Read More »

Introduction to Retirement Planning

Retirement has changed radically over the last several decades in America. Years ago, when you expected to work most of your life for a single, large employer, you could count on a pension. Retirement planning meant figuring out how to use your free time when you stopped working, not calculating rates of return and deciphering tax rules. You didn’t have to worry — enough money would be there from your pension and Social Security. Currently, with the exception of federal and state employees, most workers are not enrolled in pension plans, and the numbers continue to drop. Because fewer and…

Read More »

Close
loading...