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How to Avoid Retirement Woes

According to the American Institute of CPAs (AICPA), the top concern of retirees is running out of money. While it’s a known fact that many of us don’t begin to save for retirement when we should, it appears that nearly half of all current retirees are concerned about outliving their retirement funds.

October is here, bringing with it changing leaves, shorter days and stronger winds. Last week, like a dog that’s been pushed just a little too far, we saw that the stock market’s bite can sometimes be worse than its bark.

Friends,

Thanks again for those of you who took the time out of your schedule to participate in our Savvy Cybersecurity program, either in person or online. We hope that you found the workshop informative and helpful. As was shared at the conclusion of our workshop, there are two “homework assignments” that we’d strongly encourage you complete.

With the recent passing of the Tax Cuts and Jobs Act of 2017, it can be hard to remember which of the following federal income tax rates, personal exemptions, gift tax exclusions, long-term capital gains, and qualified dividend rates were affected or changed and which were not addressed in the new tax bill.

It is once again the time of year to begin preparing for tax filings. Pershing, a BNY Mellon company, provides tax reporting on our behalf (see more about Pershing following the chart). The mailing date of your Form 1099 depends on the types of holdings in your account.

The following schedule will apply, although dates are subject to change:

We've had a lot of great questions regarding the new tax law. MassMutual shared a summary with us that we think you might find helpful. In this summary, you will see the old tax law, the new one, and what impacts that may have.

Sometimes the biggest challenge in starting something new, is that you just don’t even know where to begin. We want you to know that we are a resource center for you, not just for your finances, but for many of life’s demands.

Just like so many people vow to commit to exercise and dieting as a New Year’s resolution, it’s also not a bad idea to take stock of your financial situation and throw in some fiscal goals. Taking a good look into your overall savings plan, wasteful spending and debt can help you get your financial health in tip top shape and increase your prosperity.

December 2017

Balanced Financial Concepts Year-End Letter 

As we look back on the year, THANK YOU for making 2017 a successful year for Balanced Financial Concepts. Your continued trust drives us to evolve our business to serve you.