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Posts by Marcus F. Johnson, CFPⓇ

When You Are the Beneficiary of an IRA

Immediately after the loss of a family member, deciding what to do with the deceased’s IRA may not seem important. Still, if you’re the beneficiary, it’s imperative to make a good decision to avoid paying penalties and extra taxes. As a beneficiary of an IRA or employer-sponsored plan, you can open an inherited IRA account…

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The Importance of a Good Withdrawal Plan

So, you’ve developed a financial plan for your future. You know how you’re going to accumulate the savings and investments needed to provide a comfortable retirement. But do you have a plan for withdrawing savings during retirement? If you don’t create a well-thought out plan for accessing funds from your accounts, you could lose savings…

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Estate Planning Misconceptions

Many people postpone creating an estate plan because considering their demise is unsettling. Others make false assumptions that cause them to neglect this important task or make less-than-ideal decisions. Here are a few common misconceptions related to estate planning: Estate planning is for the wealthy. Anyone who owns property or assets, or has loved ones…

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Don’t Shred Those Tax Documents Yet

You’ve completed your taxes for the year and now you’re wondering what to do with that pile of records, 1099s, receipts and bank statements. The experts agree, take the time to organize them and store them in a secure place. You may need to refer to them in the months or even years ahead if…

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Where to live as we age?

One of the most stressful decisions as you age is whether to stay in your current home or consider other alternatives. According to a survey by AARP, 90 percent of adults age 65 and older want to remain in their current residence as long as possible.  The desire to “age in place” is a natural…

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Splitting Retirement Plans When Divorcing

While no one marries with the intention to later separate, if divorce or legal separation is in your future, make sure you understand the implications against retirement savings. If you or your spouse have money in retirement plans, you’ll most likely have to share the assets. It’s important to understand what governs the division of…

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Health Care Considerations Before Retiring

Amid retirement anticipation, it is crucial to take the time to make wise decisions regarding health care coverage.  Here are some things to consider at various times. Retiring at any age: While some Medicare Advantage plans cover dental and routine vision services, regular Medicare and Medigap plans don’t. If you’re not planning to buy a…

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