Some 401(k) plans allow participants to transfer money while they are still working. If your plan provides for in-service withdrawals, funds may be transferred to an individual retirement account, which could provide access to more investment options and the ability to consolidate accounts.
Transferring funds out of a 401(k) could have some disadvantages, however, such as costs, loss of creditor protection, and inability to pursue certain financial planning strategies.
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Married couples have multiple options to claim Social Security in retirement, including specific strategies that use the timing of the claim to maximize spousal benefits. In certain cases, these strategies can result in an increase in both lifetime and survivor … Continue reading
Most retirees will rely on Social Security for retirement income, but those who claim the benefit too early may be short-changing themselves. Social Security provides a retirement income stream Social Security plays a critical role in any comprehensive and sustainable … Continue reading
The Internal Revenue Service requires retirees to take annual minimum distributions from individual retirement accounts (IRAs). In situations where clients don’t rely on that money for income, they may consider making a charitable donation with the proceeds. IRA account owners … Continue reading
December can be a busy month for clients, particularly those 70½ and older who must take required minimum distributions from their retirement accounts before year-end. This requirement may present a planning opportunity to meet with clients who may not rely … Continue reading
Year-end tax planning is an opportune time to connect with clients and review some key topics, including IRA-required minimum distributions, tax-loss harvesting, and annual gifting strategies. 284778
Exclusively for financial advisors, Putnam’s wealth management team leads a call on recent budget proposals and how investors can prepare for this tax season. Topics include: Post-government shutdown update: Where things stand today What’s ahead: Budget Conference Committee proposal, government … Continue reading
As year-end approaches, it is a good opportunity to review your clients’ portfolios to ensure their investments stay on track to meet their goals, and to take advantage of strategies that may benefit your clients in today’s tax landscape. There … Continue reading
Asset protection — also known as “creditor protection” — is an important element of financial planning. Federal and state laws offer safeguards for as variety of assets. Explore a discussion with Bill Cass and Chris Hennessey as they discuss minimizing … Continue reading
Even the rich and famous make estate-planning mistakesClients can learn to avoid some basic estate-planning mistakes by exploring the stories of deceased celebrities, including James Gandolfini, Sonny Bono, and Elvis Presley.
Using LinkedIn to grow your IRA rollover businessChris Hennessey shares several resources to identify companies that are hiring and firing, and explains how to use LinkedIn to network for individuals who may be on the move.
How a Roth conversion can be a tax-smart strategyA Roth IRA conversion can be a smart strategy for clients to hedge against future tax-rate increases and shore up tax diversification strategies in retirement.
Is a Roth conversion right for your clients?
Putnam's Roth IRA Conversion Evaluator is a quick and visual way to see if your client can benefit from a Roth conversion.