by Hans E. Scheil | Aug 7, 2020 | Income Taxes, IRA
In retirement, taxes change a lot. A source of many of these changes comes from the fact that most retirees are now drawing from their IRAs for income. Roth IRAs are going to give retirees a triple crown of tax benefits with a proper plan in place for how to use this...
by Hans E. Scheil | Jul 30, 2020 | Assets, Life Insurance and Legacy
You likely have someone dependent on your income to live. While this is usually a spouse, it can also be an adult child, grandchild, or anyone else who relies on you for support. When you die, they are going to need something to replace your income, even if you are...
by Hans E. Scheil | Jul 23, 2020 | Life Insurance and Legacy
Once you reach retirement, it might seem that you don’t need life insurance anymore. Your children are supporting themselves, your house is paid off, you have savings – you’re all set. While this is a great position to be in, every single person should consider...
by Hans E. Scheil | Jul 16, 2020 | IRA
The purpose of an IRA, or a 401(k), is to fund your retirement and provide income when you are done working. While many retirees use their IRA for this exact purpose, others view it as a wealth transfer vehicle. Many people stuff a large portion of their savings into...
by Hans E. Scheil | Jun 23, 2020 | Social-Security
There are a lot of myths that go around about Social Security: Social Security is going bankrupt, take it now or you won’t get it, or that the government has been spending it on other things. There is a report that the Social Security Administration publishes every...
