If you are the beneficiary of a Traditional, Simple, or SEP IRA and have just inherited the assets, you have a few reasonably simple options available to you. We’ve created a guide below to help you understand your choices. Inheriting an IRA means having a new set of financial decisions, and since your financial situation is unique it’s a good idea to ask for help. Your financial advisor should be able to guide you through these options so the transition goes smoothly and you can make a choice that’s right for you. Below we break it up into two sections: spouses who have inherited IRA assets, versus non-spouses. [+] Read More

As we get older, spending habits tend to change and some things become a bit pricier. For example, health care expenses could rise and you may decide to increase your charitable contributions instead of travelling so much. Because of these changing spending habits and price increases, inflation for several items can be higher for those over 62.1 Our advice? Plan for it! A properly designed portfolio and investment plan that accounts for rising expenses can help you plan for them before they occur. We’ll touch on how to do that below. Retirees Experience Higher Inflation Relative to Other Consumers A recent study by JP Morgan shows that since 1985, inflation has increased at a faster pace for those aged 62 and older (the grey line, CPI-E, in the chart below). Older Individuals Experience Higher Inflation (Click chart for larger version) Source: JP Morgan Asset Management. *CPI-E is an experimental index from BLS that is based on elderly households with the referenced individuals at age 62 and older. **CPI-U is also referred to as Headline CPI. Source: Based on Consumer Price Indexes, BLS, J.P. Morgan Asset Management. Data as of December 31, 2013. [+] Read More

When someone leaves an employer to retire or join another employer, there are often decisions about what to do with their 401(k). There are several 401(k) rollover options and it’s not always as simple as just rolling it into an IRA. Here are some tips investors should consider before making a decision about how to rollover a 401(k). Tip #1: Use the Rollover as an Opportunity to Evaluate Your Financial Plan Rolling over a 401(k) involves creating a new account and choosing new investments. An investor should also use the opportunity to review all of their investments and evaluate their long-term goals. It’s a perfect time to think about investment objectives, risk tolerance, and to determine whether current funds or money managers are meeting the plan’s needs. Think of a 401(k) rollover as an opportunity to enhance your financial plan and investments. [+] Read More

With so much news to consider on a daily basis, it’s important to filter out which news stories might impact the direction of the stock market and your investment portfolio. Some news stories seem like they should adversely affect the markets but they don’t, while others are significant enough to warrant a review of your portfolio allocation and financial plan. If a news story has you considering making changes to your portfolio, call your financial advisor first. He or she can act as a voice of reason to help determine whether making changes is necessary. [+] Read More