from FREEDMAN FINANCIAL | January 15, 2016

Freedman Financial Will Be Closed

for Martin Luther King Day,

Monday, January 18, 2016

We will re-open Tuesday, January 19 at 8:30 in the morning.

Enjoy your weekend, GO PATS!

The Power of a Financial Plan

Establishing financial goals- not just for retirement-can get you what you want in life.

Maxing out your 401(k) contributions is one of the golden rules in retirement planning. But what about all the other things you want to do before you retire, such as sending your kids to college, paying for a wedding, a vacation home or a trip around the world. After all, life is unpredictable. Should today's expenses & dreams be ignored for fears of being broke in retirement?

A recent Morningstar study suggests that, focusing too much on retirement goals at the expense of everything else seems to be an inefficient way to plan. However by clearly defining all your financial goals and then prioritizing them over a lifetime, you will often have better results over your lifetime of expenses.

Saving Only for Retirement Can Backfire

Financial Resolutions for Retirees

Suggestions for retirees to make this year & beyond healthier, wealthier and wiser.

Each year millions or retirees resolve to change their financial plans and/or health for the New Year. With less than three weeks into 2016, it's possible that you feel like you've already blown-up those resolutions. There is still plenty of time left to get both your waistline and pocketbook in check! The New Year brings about hope that we will be able to reach our personal goals, but attaining your goals does require a bit of work and a shift in attitude.

Ten Financial Resolutions for Retirees

IN CASE YOU MISSED IT

Freedman Financial's Blog

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Practical Advice for the Modern Day Retiree. Available at Amazon, Barnes & Noble or for Kindle.

Weekly Market Commentary

Can Earnings Help?

Missed Your RMD, Now What?

It's not hard to miss a Required Minimum Distribution, but the penalties can be HUGE if you don't act!

If you are over 70 1/2, the IRS requires you to take a required minimum distribution (RMD) from your retirement accounts each year. It's their way of finally getting the taxes you've been deferring all these years! If you didn't take your 2015 RMD by December 31, you may be subject to a 50% penalty, plus income taxes. If you missed your RMD for the past year don't fret, the IRS is oftentimes willing to waive the penalties if you own up to your mistake; but you need to act now.

Steps to Fix a Missed RMD

WAYS TO STAY CONNECTED

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