Your Life. Your Needs. Your Plan. |
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Greetings!
Hoping this finds you well.
Due to COVID-19, those that were required to take their minimum distributions from various retirement plans in 2020, could take the year off if desired . Even though some of the benefits of these acts are no longer in effect, some of the rules within them were enacted as permanent changes in 2021. In this blog article, we will look at how these changes affect RMD's in 2021 and beyond.
Check out this week's blog below to learn more.
Rick Fingerman, CFP® and Lyman H. Jackson, CFP®
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Independent. Fee-only. Fiduciaries |
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Wait. A 50% Tax Penalty On Top of Regular Taxes? |
Felicity was born in 1945. She has an IRA worth $1,000,000. Her required minimum distribution this year would be $45,454.55. If she takes this RMD by year end, she is only subject to ordinary income taxes on that amount. If she misses the deadline, she would be subject to an additional tax of $22,727.28 |
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We Specialize In Three Areas |
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Whether in retirement or nearing retirement, our disciplined approach will help ensure you are on track |
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Recently widowed or divorced, our compassionate approach will give you peace of mind and a sense of empowerment |
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With skyrocketing costs and little time left to save, without a college plan, one's retirement could be in jeopardy |
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Controversy Over the Trans Fat Ban |
The food industry fought tooth and nail to retain partially hydrogenated oils, even though they were killing 50,000 Americans a year. |
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Inside the tombs of Saqqara |
Dramatic new discoveries in the ancient Egyptian burial ground. |
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“Neuroprosthesis” Restores Words to Man with Paralysis
Researchers at UC San Francisco have successfully developed a “speech neuroprosthesis” that has enabled a man with severe paralysis to communicate in sentences, translating signals from his brain to the vocal tract directly into words that appear as text on a screen.
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Investing with your spouse or partner: How to get started |
Navigating your own financial life and investing to meet your personal goals can be challenging at times. Add another person like a spouse or partner to the equation and it can feel downright difficult. |
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$200 for French Fries?
If you are a foodie with quite a bit of change to spare, an iconic restaurant may have just the thing for you
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Recipe of the Week
California Burritos
Filled with deliciously seasoned pinto beans, plus corn, lettuce, avocado, and salsa, this California-style vegan burrito recipe makes an easy, satisfying lunch or dinner.
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"I am not interested in the past, except as the road to the future."
- Gianni Versace
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120 Wells Avenue, Newton, Massachusetts, 02459 | 617-630-4978 | 800-224-0132
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Financial Planning Solutions, LLC ("FPS") is a fee only Registered Investment Advisor ("RIA") located in the Commonwealth of Massachusetts. FPS provides asset management and related services for clients nationally. FPS will notice file and maintain all applicable licenses as required by the various states in which FPS conducts business, as applicable. FPS renders individualized responses to persons in a particular state only after complying with all regulatory requirements, or pursuant to an applicable state exemption or exclusion.
The opinions and comments of this newsletter are those of Financial Planning Solutions, LLC and are not intended as specific advice or recommendations. To understand what investments are right for you and your situation, it is recommended that you sit down with a Certified Financial Planner™ Practitioner that understands your financial situation, goals and desires. This information is being provided as a courtesy. When accessing the website links, you are leaving this site and assume total responsibility and risk for the sites you are visiting. We also make no representation of the completeness or accuracy of websites.
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