The SECURE Act and the CARE Act impact your IRA. The year 2020 has impacted everyone. And not necessarily in a good way. Across the globe, COVID-19 has left panic and loss in its wake. Loved ones have passed away. Jobs have been lost. Stocks have plummeted. According to a recent Milwaukee Business Journal article […]
Self-employed individuals have unique Social Security guidelines. You are self-employed. As such, you are no stranger to responsibility. You wear a number of hats. You work in billing, project management, customer relations, and sales. According to a recent Investopedia article titled “How Social Security Works for the Self-Employed” the IRS recognizes your complex business situation. They […]
Exercise can benefit those at risk of dementia. Your loved one is showing signs of dementia. Perhaps it is not a loved one. It is you. What can you do? Will anything help? According to a recent New Atlas article titled “Aerobic exercise shown to improve memory in those at risk of dementia,” a new […]
Rules governing inherited IRAs have changed recently. You have recently inherited an IRA. You are vaguely aware of changes in tax law with the passing of the SECURE Act in December of last year and again with the CARES Act in late March. Even so, you are not clear on the new rules and how […]
Making withdrawals from retirement accounts comes with consequences. COVID-19 has triggered an economic downturn. As stock values have dropped, people have lost chunks of their nest eggs. Depending on their careers, their earned income may have fallen or disappeared. Making withdrawals from 401(k)s or IRAs may seem like the best option. According to a recent […]
Long-term care costs may rise as a result of COVID-19. The majority of seniors will require long-term care as they age. Once you reach age 65, you have a 70 percent chance of needing some form of long-term care sometime thereafter. The cost of long-term care has been high historically. According to a recent Motley […]
Retirement misconceptions can lead to poor planning strategies. Retirement is a significant milestone for many Americans. Many create plans for what they will do when they no longer punch the clock. Whatever these plans may be, they require money to happen. You need to start saving financially and investing in your future. According to a […]
Your IRA could benefit from the government response to COVID-19. The COVID-19 virus has changed a lot about our daily lives and routines. Schools have been closed. People have been laid off. Stock markets have plummeted. In response to the COVID-19 pandemic, the federal government is taking steps to mitigate the negative financial impact on […]
You could benefit from Spousal Social Security. Are you married? Did you stop working for a few years to rear your children? Perhaps you have worked full time but make significantly less than your spouse. According to a recent Investopedia article titled “How Does My Spousal Social Security Benefit Work?,” your personal Social Security benefit […]
COVID-19 has paused retirement saving for many. Whether you have been working for a few decades or a few years, you know you will not be working forever. You will eventually retire. When this happens, you will still need money. To provide future income, you have been diligently saving for retirement. Unfortunately, COVID-19 interrupted the […]
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Overland Park Estate Planning Attorney Kyle Krull assists clients in Kansas and Missouri with Estate Planning, Wills, Trusts, Revocable Living Trusts, Charitable Planning, Asset Protection and Business Succession Planning in the greater Kansas City area including Overland Park, Leawood, Olathe, Lenexa, Johnson County Kansas and Jackson County Missouri.
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