SBOs are taking a new look at old-school defined benefit plans. Provided by Peter Miralles, CFP®CIMA®CLU Contrary to popular belief, classic pension plans have not disappeared. Corporations have mostly jettisoned them, but highly profitable small businesses are giving them a second look. Why are small business owners deciding to adopt old-school, employer-funded retirement plans? The […]

Could Education Debt Shrink Your Social Security Income?

$1.1 billion has been garnished from retirement benefits to pay back old student loans. Provided by Peter Miralles, CFP®CIMA®CLU Do you have a federal student loan that needs to be repaid? You may be surprised at what the government might do to collect that money someday, if it is not paid back soon enough. If […]

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Golden Handcuffs for Key Employees

A way to “sweeten the pot” and retain executives and managers. Provided by Peter Miralles, CFP®CIMA®CLU To retain key employees, make their jobs too good to leave. Arrange “golden handcuffs” agreements with key managers to reward loyalty and promote retention. A golden handcuffs strategy can make a management position so attractive that it would be […]

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A Portrait of Gen X Retirement Saving

Is this age group preparing adequately for the future? Provided by Peter Miralles, CFP®CIMA®CLU How would you guess Gen X is faring when it comes to retirement saving? Americans born between 1965 and 1980 are approaching what should be their peak income years, and many of them have actively contributed to workplace retirement plans, IRAs, […]

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What Expenses Could Change When You Retire?

Some costs could rise, fall or even disappear. Provided by Peter Miralles, CFP®CIMA®CLU Your retirement may seem near at hand or far away, but one thing is certain: your future will differ from your present. Financially, that fact is worth remembering. Some of the costs you have paid regularly all these years may suddenly decrease […]

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Retirees Are Racking Up Credit Card Debt

New statistics point out an alarming financial problem. Provided by Peter Miralles, CFP®CIMA®CLU $6,876. That is the average amount of credit card debt owed by an American household headed up by an individual aged 65-69.1 If you are newly retired or close to retiring, that figure may alarm you. It is more than twice the […]

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Could a Self-Directed IRA Help You Solve a Real Estate Issue?

It might prove to be a better choice than a 1031 exchange. Provided by Peter Miralles, CFP®CIMA®CLU Did you know you can buy & sell real estate using a tax-deferred retirement account? It is completely possible to do that if you have a self-directed IRA – that is, an IRA that permits alternative investments. Why […]

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October Is National Financial Planning Month

Saving is a great start, but planning to reach your financial goals is even better. Provided by Peter Miralles, CFP®CIMA®CLU Are you saving for retirement? Great. Are you planning for retirement? That is even better. Planning for your retirement and other long-range financial goals is an essential step – one that could make achieving those […]

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You Retire, But Your Spouse Still Works

That development may mean lifestyle as well as financial adjustments. Provided by Peter Miralles, CFP®CIMA®CLU Your significant other may retire later than you do. Sometimes that reality reflects an age difference, other times one person wants to keep working for income or health coverage reasons. If you retire years before your spouse or partner does, […]

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Should You Downsize for Retirement

Some retirees save a great deal of money by doing so; others do not. Provided by Peter Miralles, CFP®CIMA®CLU You want to retire, and you own a large home that is nearly or fully paid off. The kids are gone, but the upkeep costs haven’t fallen. Should you retire and keep your home? Or sell […]

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