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Retirement Savings: A Little Goes a Long Way

Written by Brian Puckett, CFP®, CPA/PFS, Attorney at Law.

A recent study by Merrill Lynch and Age Wave found that the cost of retirement exceeds $700,000 on average, easily surpassing the costs of buying a home or paying for college. While this number probably seems daunting, it may be a comfort to know that setting aside even small amounts of money for retirement can have a big impact on your future nest egg.

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Preparing for RMDs—What You Need to Know

Written by Brian Puckett, CFP®, CPA/PFS, Attorney at Law.

After having saved for retirement for so many years, some people don’t realize that eventually they will have to start taking distributions—or be hit with tax penalties. The rules surrounding these forced withdrawals—known as required minimum distribution, or RMDs more colloquially—are not new or complicated. But they are important to understand so you don’t end up paying more in taxes than you have to.

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Thinking About Cashing Out of a Retirement Account Early? Think Again

Written by Brian Puckett, CFP®, CPA/PFS, Attorney at Law.

When the need for extra cash arises, retirement accounts can be easy targets to turn to in a pinch. Consider that almost one-third of participants say they have taken a loan against their plan savings, according to Natixis Global Asset Management’s 2016 survey of U.S. Defined Contribution Plan Participants. Another 28 percent reported having taken a withdrawal from their retirement plan—including 41 percent of Millennials.

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Dissecting the Robo-advisor Trend: Do I Still Need a Human Advisor?

Written by Brian Puckett, CFP®, CPA/PFS, Attorney at Law.

Some of you may remember the Jetsons, the television animated sitcom about a futuristic family whose everyday life was made easier by flying cars, moving walkways, and electronic gadgets galore. Indeed, some of the tech-driven devices that seemed most fantastical in the 1960s when the show debuted are a reality today—namely flat-screen TVs, video chat, digital newspapers, smartwatches, and, of course, robots.

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Get Ready…Get Set…Wealth Transfer

Written by Brian Puckett, CFP®, CPA/PFS, Attorney at Law.

Roughly $4 trillion is set to be passed down to heirs over the next decade. Regrettably, the majority of Americans are unprepared for this massive wealth transfer. Consider a recent RBC Wealth Management report stating that only 30% of Americans have a full plan ready to transfer their wealth. By the same token, 30% have done nothing to prepare for wealth transfer, according to the report.