what happens to my retirement assets in the event of a divorceA document known as a Qualified Domestic Relations Order (QDRO), which is a part of a divorce settlement, specifies how retirement assets are divided. A QDRO specifies the amount or portion of a plan participant's benefits that are paid to a spouse, former spouse, child or other party. A QDRO typically governs assets within a retirement plan such as a pension, profit-sharing plan, or a tax-sheltered annuity. Benefits paid to a former spouse typically are considered income for tax purposes. If you contributed to your retirement plan, a prorated share of our investment is used to determine the taxable amount. Former spouses on … [Read more...]
Three-Step Retirement Plan Tune-Up
Even if your personal outlook hasn't changed, keep in mind that uneven returns provided by different investments may have caused your portfolio to shift from your intended asset allocation. Conducting an annual review of your retirement goals and strategy is a great way to help ensure that your plans for your financial future remain realistic and on track. With that in mind, taking the three easy steps outlined below will help you conduct your retirement tune-up. Step 1: Review your retirement goals Your first step should be to review your retirement savings goals and assess whether anything significant has occurred during the past year that might affect either your … [Read more...]
Investing Through Life’s Stages
investing through life's stages Investing is a lifelong process. The sooner you start, the better off you'll be in the long run. It's best to start saving and investing as soon as you start earning money, even if it's only $10 a paycheck. The discipline and skills you learn will benefit you for the rest of your life. But no matter how old you are when you start thinking seriously about saving and investing, it's never too late to begin. The first part of a successful lifelong investment strategy is disciplined savings habits. Regardless of whether you are saving for retirement, a new house, or just that extravagant dining room set, you will need to develop rigid savings habits. Regular … [Read more...]
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