When you retire, where and how is the income distributed? What is the strategy? What are the tax consequences? Why is taking money so different from saving money in your retirement accounts?   Connect with Financial Enhancement Group: Visit our...

There are more college savings vehicles available today than ever before in history. With some many options, how do you choose where to grow your college funds? Before you put your dollars to work, you must consider taxes, vehicle types, and the...

Downsizing, at first glance, can seem like the right choice for anyone recently living as an empty nester. However, there are key considerations to make before taking that step into a “smaller” space. A big hurdle for many is downsizing can cost...

There are three distinct phases of finance that we all go through. It is not age dependent. Each phase has unique objectives that must be stressed. Always begin with the end in mind. Why are you saving? How will you get the money out? How much do you...

Combining your assets needs to be discussed before marriage. We see people who keep everything separate (usually they have kids from a previous relationship) and those that combine everything. Regardless of the assets, you will have a single tax...

Life comes quickly, and the IRS has no sympathy. Unless you have a minor child, this will be the last year to file a joint tax return regardless of what time of year that you lost your spouse. Margin compression (expansion of your marginal tax rate),...

Rarely is a job loss expected, and rarely is anyone prepared for it. Lay-offs or downsizing can sometimes be predicted. It can be the sale of a business, a new manager, a change in the economy, or it can come out of the blue. Your job is to be...

Your first Required Minimum Distribution (RMD) now begins the year you turn 72. The amount you take out is based on your marital status, age, and the amount of your tax deferred investments on December 31st, the previous year. Should you let the IRS...

Determining the correct year to begin Social Security is essential for sound income planning and perhaps even more so for efficient tax planning. You have many things to consider, and they all need to work in conjunction. Social Security is not a silo...

Where’s the beef? When you retire, where and how is the income distributed? What is the strategy? What are the tax consequences? What will you do with your new found time and is your spouse on board - they already have their “program” and you...