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401(k) Financial Planning Retirement Income Retirement Planning Tax Planning

Understanding the Two Roth IRA 5-year Rules

Many would agree that Roth IRAs are special retirement accounts. They are funded with after tax dollars, grow tax deferred, and all distributions including accumulated gains are tax free. …Or are they? There are two five-year rules that govern whether your Roth IRA distributions are both tax and penalty free. The rules can be quite […]

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401(k) Retirement Income Retirement Planning Uncategorized

Retiring During Rising Interest Rates

Year over year inflation was 10.32%. The Federal Reserve hiked interest rates to over 19%. A 3-month CD was yielding 18.3%, and mortgage rates topped 16%. The year was 1981. Fast forward 42 years. Year over year inflation in the US has topped 8% as of March 2022. Will it reach 1981 levels? Who knows […]

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Financial Planning Healthcare Retirement Income Retirement Planning

Medicare Premiums Higher Than Expected?

Are your Medicare premiums higher than you expected? Did you or someone you know receive notice of 2022 premium increases? Did the increase surprise you, and was it far greater than in previous years? 2022 Base Medicare Premiums Increase 14.5% Medicare premiums for Part B jumped from 14.5% from $148.50 per month in 2021 to […]

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401(k) Financial Planning PT5 Planning Philosophy Retirement Income Retirement Planning

When is a good time to convert from an IRA to a Roth?

When is a good time to convert from an IRA to a Roth? An attendee at one of our recent workshops asked us a question about Roth Conversions. Specifically, she asked “when is a good time to convert to a Roth IRA?” In short, the final two months of the year are typically when we […]

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401(k) PT5 Planning Philosophy Retirement Income Retirement Planning Social Security Taxes in Retirement

Will You Need Less or More Income in Retirement?

Our firm holds regular educational classes at the community college campus near our Ankeny, IA office. We invite folks in surrounding communities to these classes through direct-mail postcard invitations and digital invitations through Facebook. The invitations highlight several specific topics that we commonly cover during our classes. For example, strategies to optimize entitlement programs such […]

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401(k) Estate Planning Retirement Income Retirement Planning Social Security Tax Planning Taxes in Retirement Trusts Wills

The Plight of a Retired Widow–Part 2

In last month’s publication we explored the complications that can arise when a retirement plan is designed for a married couple (filing taxes jointly) suddenly gets turned on its head at the passing of one of the spouses. This month we will examine the real-life challenges from the view point of fictional couple, William and […]

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Healthcare Retirement Income Retirement Planning Taxes in Retirement Triplett-Westendorf Financial Group

Retirement In Sight August 2020

Monthly News and Information for Current and Future Retirees Presented by Mark Triplett – AUGUST 2020 QUOTE OF THE MONTH “Not everything that is faced can be changed, but nothing can be changed until it is faced.” JAMES BALDWIN FIGURING OUT WHEN TO START YOUR SECOND ACT Many Gen Xers and baby boomers look forward […]

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401(k) Estate Planning Retirement Income Retirement Planning Social Security Taxes in Retirement Trusts Wills

The Plight of a Retired Widow–Part 1

Death is never fun to talk about. However, it is an inevitable part of life. In 1789 Benjamin Franklin wrote in a letter to Jean-Baptiste Le Roy,    “Our new Constitution is now established, and has an appearance that promises permanency; but in this world nothing can be said to be certain, except death and taxes.” […]

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401(k) Financial Planning Retirement Income Retirement Planning

3 Common Social Security Misconceptions

When and how you claim Social Security benefits is one of the bigger decisions you will face as you transition from your working years into your post working years. For many folks, Social Security will be one of their largest retirement resources, and its often the most mismanaged. Irrevocable decisions could potentially add or subtract […]

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401(k) Financial Planning Retirement Income Retirement Planning

True Liquidity Versus Allocation Liquidity

Two hydrogen atoms to one oxygen atom and you get an amazing substance! H2O, AKA water, is a shape shifter. It can be a gas, invisible to the eye. Physically harmless to touch. It can be a solid when frozen into ice. Get wacked with that, and OUCH! Leave your hand on it too long […]