Types of IRAs

The Different Types of IRAs

This popular retirement savings vehicle comes in several varieties. Many Americans know about Roth and traditional IRAs, but there are other types of Individual Retirement Arrangements. Here’s a quick look at all the different types of IRAs: Traditional IRAs (occasionally called deductible IRAs) The “original” IRAs. In most cases, contributions to a traditional IRA are […]

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rebalancing your portfolio

Adjusting Your Portfolio as You Age

As you approach retirement, it may be time to pay more attention to investment risk. If you are an experienced investor, you have probably fine-tuned your portfolio through the years in response to market cycles or in pursuit of a better return. As you approach or enter retirement, is another adjustment necessary? Some investors may […]

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Choosing the right Life Insurance Policy

Avoid These Life Insurance Missteps

Shop wisely when you look for coverage. Are you about to buy life insurance? Shop carefully. Make your choice with insight from an insurance professional, as it may help you avoid some of these all-too-common missteps. 1. Buying the first policy you see. Anyone interested in life insurance should take the time to compare a […]

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Norfolk Virginia Navel Base

Thrift Savings Plan (TSP) Withdrawal Options are Changing

New rules could soon mean more flexibility. By 2020, federal employees with Thrift Savings Plan (TSP) accounts should have new withdrawal choices for their invested assets. New rules are scheduled to be implemented through the TSP Modernization Act, permitting TSP participants more flexibility.[1] The TSP withdrawal rules have been strict for many years. Too strict, […]

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Financial Planning for College Graduates

Smart Financial Steps After College

Did you recently graduate from college? The years after graduation are crucial not only for getting a career underway, but also for planning financial progress. Consider making these money moves before you reach thirty. Direct a bit of your pay into an emergency fund. Just a little cash per paycheck. Gradually build a cash savings […]

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Medical deductions for 2018

The Medical Expense Deduction in 2018

If you itemize, you should note the reduced medical deduction threshold for 2018. This year, you can deduct qualified medical expenses exceeding 7.5% of your adjusted gross income. Next year, the threshold for the medical expense deduction returns to 10% of AGI. (The Tax Cuts & Jobs Act of 2018 also allowed the 7.5% threshold […]

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