401k Archives - Legacy Insurance Agency

401k Exit Strategy – How To Use Your Retirement Effectively

Barry Page — Tue, 13 Nov 2018 19:11:36 +0000

401k Exit StrategyHow To Spend and Use Your Retirement Income Effectively It often astounds me how many people really don’t have an exit strategy for their 401k. And, I mean a money solution, an effective plan to use and spend their retirement efficiently, to reach their desired goals. So, I’d like to share with you a little known, but time tested strategy that is usually reserved for the wealthy. It’s also used by the world’s largest banks and corporations. IRA/401k Distributions (Withdrawals) A 401k withdrawal or distribution is how you take your money from the account, which has rules and restrictions. We’ll assume you are

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Tax Planning – The Time to Plan is Now

Barry Page — Mon, 16 Apr 2018 20:13:20 +0000

Tax Planning – The Time to Plan is Now Tax planning is not deferring taxes in an IRA. We’ve all heard the old adage, “People don’t plan to fail, they fail to plan.” In the case of your IRA or qualified plan, last minute contributions could be setting you up to actually pay more taxes. If you’e pondering the thought of a last minute contribution, just ask yourself these questions… 1. Do you want to live a similar lifestyle in retirement as you have today? 2. Do you think taxes will go up or down in the future? 3. What tax bracket will you be in

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8 Scary Truths About Your Qualified Plan 401k / IRA

Barry Page — Tue, 24 Oct 2017 23:04:49 +0000

8 Scary Truths About Your Qualified Plan 401k/IRA Retirement Account 8 Scary Truths About Your Qualified Plan 401k that your employer’s not telling you. What you need to know about your 401k and IRA What you need to know about your 401k before you contribute another dime. If you are pondering the thought of contributing more than your match to your 401k or whether or not to make an end of year contribution to your IRA, THINK AGAIN! Before you put another dime into your 401k, 403b, TSP, SEP or other IRA you need to know what the government and your employer aren’t telling you.

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Stock Market Madness

Barry Page — Mon, 09 Oct 2017 23:30:48 +0000

Stock Market High Buy or Sell? The stock markets are at an all time high! Should you buy or sell? Many believe the markets are literally on edge… What is causing the stock market madness? The excitement associated with stock market rallies is perpetuated by the media’s enthusiasm. And, though they have been on the sidelines since the Presidential election, now they can’t seem to get enough of this current run. Recently CNN/Money reported “No worries on Wall Street” insinuating that fear and greed were responsible for the run. But, others are running scared, stating that a meltdown is imminent. Last month the Census Bureau released

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The Great 401k Myth

Barry Page — Sat, 15 Jul 2017 20:30:11 +0000

The Great 401k Myth Six Reasons Why The 401(k) May Not Be in Your Best Interest The great 401k myth has been perpetuated over the last 30+ years from good intending radio entertainers to trusted advisors. Unfortunately this utopian, politically motivated, economic view of your financial future originates from the government and big banks, and the 401k myth has been propagated to the point of epic proportions. “Myths which are believed in tend to become true.” ~George Orwell What makes the 401k myth so destructive is that it is based on a scarcity mindset and it is being perpetuated from generation to generation. When we

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Retirement Tax Bomb

Barry Page — Tue, 04 Apr 2017 18:23:17 +0000

RETIREMENT TAX BOMB
IRA/SEP/401k Tax Liability

Is your IRA/SEP/401k a retirement tax bomb? Parachute out safely using our custom designed whole life insurance plans.

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Will The Government Default or Raise The Debt Ceiling?

Barry Page — Tue, 21 Mar 2017 23:00:05 +0000

Government Default or Raise The Debt Ceiling? Will the government default or raise the debt ceiling again? The U.S. Treasury Department is now calling on Congress to raise the debt ceiling once again to prevent a government default. Officially, the current United States debt ceiling expired on March 15th, 2017. The following day, the outstanding debt of the United States was at the statutory debt limit. This means that lawmakers must now decide how to address the nation’s fiscal problems or face government default. Treasury Secretary, Steven Mnuchin, recently sent a letter to House Speaker, Paul Ryan, on March 8 urging Congress to raise the debt

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Retirement Income Options

Barry Page — Wed, 08 Mar 2017 23:05:22 +0000

Retirement Income Options Protect and Maximize Your Cash-Flow Retirement income options are available to anyone who chooses to seek knowledge and plan ahead. Your options for how you distribute your retirement income are mostly up to you. It all starts with where you choose to store your money. We can’t control government rules such as taxes, but we can control how we save for the future, which will have a tremendous impact when distribute the income. Assuming that you have accumulated a nest egg for retirement, you will then have choices for the distribution of that income. Traditional retirement planning suggests that you defer taxes for

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