If you’ve recently retired or are about to, congratulations! It’s probably been a long road, and your next step is to make sure that path continues during retirement. This means it’s time to speak with your financial advisor to create, or update, a comprehensive investment plan. Here’s a brief “how to prepare for retirement” guide to help you get started. [+] 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

2013 is shaping up to be a strong overall year for the equity markets, and has hopefully been a positive year for many readers’ investment plans as well. As the year draws to a close, it’s time to review a few year-end planning strategies and tips. This should serve as a basic guide to investors to review their tax situations and investment plans before year end. Our suggestions may not apply to all investors, so it’s important to consult a financial advisor and/or tax advisor before considering any adjustments. Tax Planning Strategies to Consider Offset Capital Gains Using a Tax-Loss Selling Strategy Investors are able to offset capital gains with capital losses. If capital losses exceed capital gains in 2013, the excess can be used to reduce taxable income, such as wages, up to an annual limit of $3,000 ($1,500 if married but filing separately). If the total net capital loss is more than the yearly limit ($3,000), taxpayers can carry over the unused portion to the next year.1 [+] Read More

Traditional Medicare is another name for Medicare Parts A and B. Most people are automatically enrolled in Parts A and B and receive their benefit cards 3 months before their 65th birthday. You’ll be automatically enrolled if you’re already receiving Social Security retirement benefits when you turn 65.1 If you’re not automatically enrolled and want to apply, there is a seven month window to join: three months before your 65th birthday, the month of your 65th birthday, and three months after your 65th birthday. If you miss that window, there is “General Enrollment” every year between January 1 and March 31.1 Below we’ll break down the differences between Medicare Part A and Part B. Medicare Part A: Costs and Benefits Part A usually requires no premium payments, though there are some deductibles and coinsurances associated with coverage (more on these costs below). Part A covers hospitalization, or inpatient care. This includes hospital care, nursing facility care, nursing home care, hospice, and home health services.2 [+] Read More

The Basics of Medicare Parts A, B, C, D, and Medigap As you enter retirement or approach the age of 65, there are a lot of questions about what happens next: When should I start taking Social Security? How should I diversify my portfolio to ensure my long-term investment goals are met? Equally important is setting up your healthcare coverage. You’ll need to consider your healthcare needs, what coverage options are available to you, what the cost is going to be, what your budget allows, and so on. In our four-part series on Medicare, we’ll examine details about your healthcare options in retirement, to give you a foundation for making informed decisions as you build your comprehensive financial plan. [+] Read More

In response to the 2008-2009 financial crisis and global recession, the Federal Reserve (Fed) and other central banks across the world lowered interest rates and implemented asset purchase programs meant to drive down borrowing costs for banks and consumers. What is the Federal Reserve Trying to Accomplish? It works in two ways. First, by lowering short-term interest rates, the Fed and other central banks give traditional banks easier access to cheap capital, which policymakers hope will spur economic activity by increasing the amount of loans banks make to businesses and consumers. Second, the asset purchase programs, which are referred to here in the US1 as “quantitative easing,” has the Fed currently purchasing $85 billion per month of securities - divided between mortgage-backed securities and Treasury securities.i This serves two main purposes: [+] Read More

Knowing when to take Social Security is dependent on a number of variables, all of which are unique to you and your financial plan. Ultimately, it is a financial choice you make, and it’s a very important one. At WrapManager, our Wealth Managers create a comprehensive investment plan for our clients, so that we intimately understand all of the variables that are important to meeting their family’s goals. Many people come to us wondering: should I start early and receive Social Security retirement benefits as soon as I’m eligible, or is it better to wait so you can receive a higher monthly benefit? Source: Social Security Administration Below, we’ve outlined a few guiding questions designed to help you think smarter about when to start taking your Social Security retirement benefits. We’d encourage you to discuss with your family and one of our Wealth Managers. [+] Read More