Category: Retirement Planning

COVID Affects Required Minimum Distributions For 2020

COVID has affected many areas of our lives, including our finances.  In normal times, if you are age 72 or older, you’d be required to take a Required Minimum Distribution (RMD) from your IRA or other retirement accounts.  Because of COVID, under the CARES Act, that requirement is waived for 2020. What this means for […]

COVID-19 Creates New Financial Options

Mostly COVID-19 has wreaked havoc on all of us but if you are the type of person always looking for the silver lining, here are three new financial options available to you: Required Minimum Distributions (RMDs) In response to COVID-19, congress passed a provision under the CARES Act that suspends the requirement that people age […]

It’s Time to Check Your Social Security Record

When I ask someone, “What is the single largest asset you own?”, what do you think the most common response is?  If you said, “My house,” you’d be correct even though that’s not the right answer for many families. Philip Wilson, in his excellent book, “Maximize Your Social Security,” states that your decision when to […]

2020: Your 3 Most Important Goals

It’s a new year and a new opportunity to hit the reset button on goals for the most important aspects of your life. Your first question might be, “Does setting goals really matter?”  As a seasoned politician (Mayor of Mtn. Brook), my answer would be, “It depends…”  Most people go through life, never set any […]