Selling a home

Should I sell my house? 3 key financial considerations

Deciding to sell your home is an important financial decision.  These 3 financial considerations can help you evaluate your situation to determine if now is a good time for you to sell.

  1. Your home’s worth
  2. The costs of selling a house
  3. The tax implications of selling a house

An Ameriprise financial advisor will help evaluate the financial impacts of selling your home based on your financial goals and priorities.

1. Your home’s worth

The value of a house can change over time. Whether you purchased your home decades ago or last year, one of the first steps to take when considering selling your home is to evaluate how much your house is worth in the current housing market. Here are three common approaches:

  • Research real estate websites. Find out how much similar homes in your area have sold for. Many websites can also give you a rough estimate of how much your home is worth.
  • Consider an appraisal. A formal appraisal will provide you with a more accurate value of your house based on comparable home sales in the area.
  • Work with a real estate agent. Real estate agents will help determine an appropriate listing price for your home. Look online or ask for referrals to realtors who have experience in your neighborhood.

What is the difference between a seller’s market vs buyer’s market

Factors such as such as seasonality and local economic conditions affect the value of your house.

These factors can create what are typically referred to as buyer’s and seller’s markets, normal parts of the housing market cycle which can impact your selling price.

  • A seller’s market occurs when there are more prospective buyers than there are homes for sale. When housing inventory is low, prices tend to be higher. As a seller, you may be able to get more money for your property or sell it faster than you would in a buyer’s market.
  • In a buyer’s market, an abundant housing inventory provides buyers with more housing options and an advantage in negotiating the purchase price. Your house could take longer to sell given buyers have more options. There also may be more competition from other home sellers in your price range.

Seller’s market

  • More interested buyers than homes for sale can lead to bidding wars.
  • Your home may sell at a higher price.
  • You may be able to sell your home quicker.

Buyer’s market

  • Increased housing inventory means more options for buyers.
  • The average property spends more time on the market. 
  • It’s important to price your home competitively.

When is the best time to sell a house?

The “best time” to sell a house may be a misnomer. When to sell is determined by a number of factors including personal finances, needs and the market. However, knowing the better times to sell a house may help you sell at a higher price. Zillow cites April through July as offering better selling opportunities, depending on location. December through February tend to be more sluggish months for home sales in most markets due to cold weather and the holiday season.1

In many housing markets, listings, sales and buyer activity peak in spring and summer.

Winter months may see lower inventory and fewer active buyers.

This doesn’t mean you should wait to sell your home until the market is in your favor or that you can’t list your house in January. By taking into account housing market conditions and seasonality, you can set realistic expectations for a selling price and time on the market.

2. Costs of selling a house

From cleaning to de-cluttering to painting, a lot can go in to getting your house in shape to sell. In addition to preparation costs before the home is shown to prospective buyers, expect to pay the following:

  • Realtor fees: The typical real estate agent’s commission is 2.5% – 3% of the home’s selling price, which means that the combined real estate agent fees for both the seller’s agent and the buyer’s agent fall within the 5% – 6% range. It’s not uncommon for the seller to pay the commission for both agents.
  • Closing costs: As a seller, expect to pay closing costs between 1% – 3% of the house price. This typically includes the home inspection, appraisal and title insurance costs.
  • Repair costs: Sometimes after the inspection, the buyer may ask you to make repairs before they purchase the home. As the seller, you don’t have to agree to make the repairs, but if you don’t, the buyer may not want to go through with the sale. Sometimes sellers list their home in “as-is” condition — meaning they are offering the home in its current condition and will make no repairs — which may result in fewer interested buyers.
  • Concessions: If you’d prefer not to make the inspection repairs yourself, the buyer may accept other concessions instead. For example, common concessions include a lower purchase price or paying some of the buyer’s closing costs.

The bottom line: As a seller, you should be prepared to pay costs up to 10% of the home price.

3. Tax implications of selling a house

Will you owe taxes on the profit from your home sale? The answer depends on several factors, such as how long you owned the house and whether or not it was your primary residence.

Capital gains on a home sale

When you sell property or other investments and make a profit, capital gains taxes come into play.

If you sell your house within a year of buying it, the tax treatment of the profit from the sale will be a short-term capital gain. This means you’ll have to pay normal income tax rates on the profit.

If you owned the home for more than one year, the tax treatment of the profit will be a long-term capital gain., This will likely be much lower than your regular income tax rate.

Avoiding capital gains tax with a Section 121 exclusion

You may be able to avoid paying capital gains taxes via a Section 121 exclusion, more commonly referred to as a primary residence exclusion. To claim the exclusion, generally the house must have been your primary residence for 24 months in the past five years before a sale.  

The IRS allows single tax filers to exclude up to $250,000 of capital gains on a house through the primary residence exclusion. For example, if you’re single and bought your house for $600,000, lived in it the required amount of time, aren’t subject to other limitations, and sold it for $850,000, you won’t have to pay capital gains tax on the $250,000 profit. For married couples filing jointly, the exclusion amount is $500,000. Additional restrictions or limitations on the amount excluded may apply in certain circumstances.

Capital gains on a rental property

Because full-time rental properties are not eligible for the Section 121 exclusion, owners of full-time rental or investment properties will typically pay capital gains taxes.

However, with a 1031 exchange, owners can sell their investment property and immediately buy a “like-kind” property (normally, a similar property that costs the same amount or more) without paying capital gains tax on the profit from the first property. The caveat: A 1031 exchange is a tax deferral, not an exemption, so you will eventually have to pay taxes on profits from the sale. 1031 exchanges generally require the use of a qualified intermediary to facilitate the exchange and ensure compliance with the various tax requirements.

What happens if I need to sell my home at a loss?

Nobody buys a house planning to sell it at a loss, but based on market conditions or personal needs, you may find yourself in a situation you didn’t expect.

A loss from the sale of a primary residence is not tax-deductible. Because the IRS considers a house that you live in as a “personal-use property,” any loss you incur from the sale of the home is not deductible as a capital loss.

However, if you sell your rental property at a loss, you may be able to claim these losses as income tax deductions. Check with a tax professional if you find yourself in this situation.

For more information about the tax implications of selling a home consider IRS Publication 523 (Selling Your Home) or consulting a tax advisor.  

Discuss selling your home with a financial advisor

There are many financial factors to consider before you decide to put your house on the market. It’s a good idea to get help from an Ameriprise financial advisor, who will provide you with 1:1 financial advice based on your goals and needs. Doing so can help you feel more confident, connected and in control of your financial life.

Disclosures

1Source: https://www.zillow.com/sellers-guide/best-time-to-sell/

Ameriprise Financial cannot guarantee future financial results.

Ameriprise Financial, Inc. and its affiliates do not offer tax or legal advice. Consumers should consult with their tax advisor or attorney regarding their specific situation.

Investment advisory products and services are made available through Ameriprise Financial Services, LLC, a registered investment adviser.

Ameriprise Financial Services, LLC. Member FINRA and SIPC.

Selling a home

Should I sell my house? 3 key financial considerations

Deciding to sell your home is an important financial decision.  These 3 financial considerations can help you evaluate your situation to determine if now is a good time for you to sell.

  1. Your home’s worth
  2. The costs of selling a house
  3. The tax implications of selling a house

An Ameriprise financial advisor will help evaluate the financial impacts of selling your home based on your financial goals and priorities.

1. Your home’s worth

The value of a house can change over time. Whether you purchased your home decades ago or last year, one of the first steps to take when considering selling your home is to evaluate how much your house is worth in the current housing market. Here are three common approaches:

  • Research real estate websites. Find out how much similar homes in your area have sold for. Many websites can also give you a rough estimate of how much your home is worth.
  • Consider an appraisal. A formal appraisal will provide you with a more accurate value of your house based on comparable home sales in the area.
  • Work with a real estate agent. Real estate agents will help determine an appropriate listing price for your home. Look online or ask for referrals to realtors who have experience in your neighborhood.

What is the difference between a seller’s market vs buyer’s market

Factors such as such as seasonality and local economic conditions affect the value of your house.

These factors can create what are typically referred to as buyer’s and seller’s markets, normal parts of the housing market cycle which can impact your selling price.

  • A seller’s market occurs when there are more prospective buyers than there are homes for sale. When housing inventory is low, prices tend to be higher. As a seller, you may be able to get more money for your property or sell it faster than you would in a buyer’s market.
  • In a buyer’s market, an abundant housing inventory provides buyers with more housing options and an advantage in negotiating the purchase price. Your house could take longer to sell given buyers have more options. There also may be more competition from other home sellers in your price range.

Seller’s market

  • More interested buyers than homes for sale can lead to bidding wars.
  • Your home may sell at a higher price.
  • You may be able to sell your home quicker.

Buyer’s market

  • Increased housing inventory means more options for buyers.
  • The average property spends more time on the market. 
  • It’s important to price your home competitively.

When is the best time to sell a house?

The “best time” to sell a house may be a misnomer. When to sell is determined by a number of factors including personal finances, needs and the market. However, knowing the better times to sell a house may help you sell at a higher price. Zillow cites April through July as offering better selling opportunities, depending on location. December through February tend to be more sluggish months for home sales in most markets due to cold weather and the holiday season.1

In many housing markets, listings, sales and buyer activity peak in spring and summer.

Winter months may see lower inventory and fewer active buyers.

This doesn’t mean you should wait to sell your home until the market is in your favor or that you can’t list your house in January. By taking into account housing market conditions and seasonality, you can set realistic expectations for a selling price and time on the market.

2. Costs of selling a house

From cleaning to de-cluttering to painting, a lot can go in to getting your house in shape to sell. In addition to preparation costs before the home is shown to prospective buyers, expect to pay the following:

  • Realtor fees: The typical real estate agent’s commission is 2.5% – 3% of the home’s selling price, which means that the combined real estate agent fees for both the seller’s agent and the buyer’s agent fall within the 5% – 6% range. It’s not uncommon for the seller to pay the commission for both agents.
  • Closing costs: As a seller, expect to pay closing costs between 1% – 3% of the house price. This typically includes the home inspection, appraisal and title insurance costs.
  • Repair costs: Sometimes after the inspection, the buyer may ask you to make repairs before they purchase the home. As the seller, you don’t have to agree to make the repairs, but if you don’t, the buyer may not want to go through with the sale. Sometimes sellers list their home in “as-is” condition — meaning they are offering the home in its current condition and will make no repairs — which may result in fewer interested buyers.
  • Concessions: If you’d prefer not to make the inspection repairs yourself, the buyer may accept other concessions instead. For example, common concessions include a lower purchase price or paying some of the buyer’s closing costs.

The bottom line: As a seller, you should be prepared to pay costs up to 10% of the home price.

3. Tax implications of selling a house

Will you owe taxes on the profit from your home sale? The answer depends on several factors, such as how long you owned the house and whether or not it was your primary residence.

Capital gains on a home sale

When you sell property or other investments and make a profit, capital gains taxes come into play.

If you sell your house within a year of buying it, the tax treatment of the profit from the sale will be a short-term capital gain. This means you’ll have to pay normal income tax rates on the profit.

If you owned the home for more than one year, the tax treatment of the profit will be a long-term capital gain., This will likely be much lower than your regular income tax rate.

Avoiding capital gains tax with a Section 121 exclusion

You may be able to avoid paying capital gains taxes via a Section 121 exclusion, more commonly referred to as a primary residence exclusion. To claim the exclusion, generally the house must have been your primary residence for 24 months in the past five years before a sale.  

The IRS allows single tax filers to exclude up to $250,000 of capital gains on a house through the primary residence exclusion. For example, if you’re single and bought your house for $600,000, lived in it the required amount of time, aren’t subject to other limitations, and sold it for $850,000, you won’t have to pay capital gains tax on the $250,000 profit. For married couples filing jointly, the exclusion amount is $500,000. Additional restrictions or limitations on the amount excluded may apply in certain circumstances.

Capital gains on a rental property

Because full-time rental properties are not eligible for the Section 121 exclusion, owners of full-time rental or investment properties will typically pay capital gains taxes.

However, with a 1031 exchange, owners can sell their investment property and immediately buy a “like-kind” property (normally, a similar property that costs the same amount or more) without paying capital gains tax on the profit from the first property. The caveat: A 1031 exchange is a tax deferral, not an exemption, so you will eventually have to pay taxes on profits from the sale. 1031 exchanges generally require the use of a qualified intermediary to facilitate the exchange and ensure compliance with the various tax requirements.

What happens if I need to sell my home at a loss?

Nobody buys a house planning to sell it at a loss, but based on market conditions or personal needs, you may find yourself in a situation you didn’t expect.

A loss from the sale of a primary residence is not tax-deductible. Because the IRS considers a house that you live in as a “personal-use property,” any loss you incur from the sale of the home is not deductible as a capital loss.

However, if you sell your rental property at a loss, you may be able to claim these losses as income tax deductions. Check with a tax professional if you find yourself in this situation.

For more information about the tax implications of selling a home consider IRS Publication 523 (Selling Your Home) or consulting a tax advisor.  

Discuss selling your home with a financial advisor

There are many financial factors to consider before you decide to put your house on the market. It’s a good idea to get help from an Ameriprise financial advisor, who will provide you with 1:1 financial advice based on your goals and needs. Doing so can help you feel more confident, connected and in control of your financial life.

Disclosures

1Source: https://www.zillow.com/sellers-guide/best-time-to-sell/

Ameriprise Financial cannot guarantee future financial results.

Ameriprise Financial, Inc. and its affiliates do not offer tax or legal advice. Consumers should consult with their tax advisor or attorney regarding their specific situation.

Investment advisory products and services are made available through Ameriprise Financial Services, LLC, a registered investment adviser.

Ameriprise Financial Services, LLC. Member FINRA and SIPC.

Buying a home

home mortgage considerations and more

Whether you’re purchasing your first house, moving to a larger space, downsizing, or considering a second home or cabin, buying a new home is often both a financial goal and a major event in your life. A house is one of the biggest investments you’ll ever make and one you’ll probably live with (and in) for years to come. Our home buying tips  will help you get started.

Begin the home buying process

First, consider the features that are important to you, including the neighborhood, size and style of home, quality of schools, property taxes and proximity to shopping and work. Next, determine how much house you can comfortably afford and consider how your expenses will change with home ownership.

Investigate financing and home mortgage options

  • Order your credit report and check it for errors
  • Evaluate the amount you’ll need for a down payment
  • Compare various home mortgage terms and rates and consider which type of mortgage will work best for you. Mortgages are generally available with fixed or adjustable rates and terms of 15 to 30 years.
  • Obtain prequalification or preapproval for a mortgage

Understand the benefits of using a real estate agent

An agent can guide you through the process of buying a home and may make it easier in many ways. For instance, a real estate agent can generally:

  • Help you determine your housing needs
  • Show you homes and neighborhoods in your price range
  • Suggest financing sources and techniques
  • Prepare purchase offers
  • Negotiate for you
  • Recommend resources you may need such as home mortgage brokers, title companies or inspectors
  • Give you an honest appraisal of the homes you’re considering
  • Arrange details of the closing once the seller has accepted your offer

Some agents may charge for these services, so you may want to first ask to discuss any potential fees. 

Take into account other financial considerations for buying a home

Once you’ve decided on a home to purchase, a financial advisor can help you address more complex financial questions that you may encounter:

  • Will your home purchase have any impact on your other financial goals? Do you need to make adjustments to your financial plan?
  • What type of insurance might you need on the property? Have you estimated your premium for homeowners and flood insurance?
  • If you’re going to live in the home as your primary residence, do you understand the tax benefits of home ownership?
  • Will you be using your home for business? If so, you might be eligible for a home office tax benefit.
  • Do you have any property ownership issues that need to be addressed such as sole ownership or tenancy in common?
  • Do you need to review or update your estate plan?

Are you ready to make the move?

An Ameriprise financial advisor can assist you with many of these home-buying details, and help you stay on track to achieve your other financial goals, too.

 

Disclosures

Ameriprise Financial cannot guarantee future financial results.

Ameriprise Financial, Inc. and its affiliates do not offer tax or legal advice. Consumers should consult with their tax advisor or attorney regarding their specific situation.

Investment advisory products and services are made available through Ameriprise Financial Services, Inc., a registered investment adviser.

Ameriprise Financial Services, Inc. Member FINRA and SIPC.

Find answers to commonly asked questions about private insurance options and federal programs.

Whether you will owe taxes on disability, life, long-term care or health insurance benefits depends in part on the type of policy you have and could also depend on whether premiums were paid with pre- or post-tax dollars. Careful planning, to account for tax rules and potential implications, can help decrease the overall impact of taxes on your benefits.

Find answers to commonly asked questions about private insurance options and federal programs.

An Ameriprise advisor works with you and your tax professional to help determine tax implications based on your insurance status.

Disclosures

Before you purchase, be sure to ask your advisor about the insurance policy’s features, benefits and fees, and whether the insurance is appropriate for you, based upon your financial situation and objectives.

Ameriprise Financial, Inc. and its affiliates do not offer tax or legal advice. Consumers should consult with their tax advisor or attorney regarding their specific situation.

Ameriprise Financial Services, LLC. Member FINRA and SIPC.

Get the most of Medicare open enrollment

Health care expenses typically increase during retirement, so making informed decisions about your options is vital. Understanding Medicare open enrollment and how it works allows you to weigh your options and find the coverage that’s right for you and your budget.

The basics of open enrollment for Medicare

The Medicare open enrollment period (Oct. 15 to Dec. 7) is when people currently enrolled in Medicare can evaluate their existing health plan and prescription drug coverage and make changes for the year ahead.

During this time, for example, you may elect to opt out of Original Medicare (Parts A and B) and enroll in a Medicare Advantage Plan that offers a wider range of benefits. Or, if you have a Medicare Advantage Plan, you may be able to switch to a competing Medicare Advantage Plan if it is less expensive or better fits your needs.

Review your health care needs

Each year, it’s important to review your personal health care needs and determine if your current Medicare coverage is meeting them. A good first step is to analyze how you use the health care system. Some questions to consider are:

  • Have there been any changes in your health?
  • Do you have medical conditions that require frequent doctor visits?
  • Have you been hospitalized in the last year, and have you needed to see one or more specialists?
  • Do you take one or more prescription medicines daily for treatment of a chronic health issue?

Analyzing your Medicare coverage costs

Equally important is to review and analyze what your Medicare coverage costs you. Here are some questions to start:

  • What were your insurance premium costs in the last 12 months?
  • How much did you spend for co-pays and co-insurance, and did you reach or exceed your deductible?
  • How much did you spend on prescription drugs for the year?

Identifying the answers to these questions, and those above, will help you evaluate which Medicare coverage plan may best suit your needs.

Consider changes to get better Medicare coverage

Leading up to open enrollment, you will receive information from the Centers for Medicare & Medicaid Services (CMS) about legal changes to Medicare. Or, if you have Medicare Advantage coverage, you will receive an annual notice of change letter from the insurance company.

  • Compare and choose. If you decide to comparison shop among Medicare Advantage Plans, make sure to compare the details, such as the plan’s network of doctors, hospitals, benefits, and prescription drug coverage. Also, contrast the financial aspects including premiums, deductibles, co-pays and out-of-pocket limits.

    Your objective is to compare the Medicare benefits and cost effectiveness of plans in the context of what you need.

  • Be an educated health care consumer. Understanding Medicare takes some time and effort because it is complex. The more you know about Medicare, the better you will be at making health care decisions that will have a positive effect on your life and future.

Talk with your advisor about your health care needs in retirement and find out how you can make the most of your Medicare benefits.

 

Guide to investment asset allocation and risk tolerance

Whether you’re just starting to invest for retirement, or have a substantial amount set aside, the foundation of investing is understanding your comfort with risk, adjusting the mix of assets in your portfolio and diversifying your investments within it.

As you near retirement, you may want to assess your comfort with risk, adjust the mix of assets in your portfolio accordingly and select a diverse range of investments to help protect your portfolio from market volatility and prepare you to live off your savings.

Once retired, your focus shifts from saving to generating income from your savings in retirement. You’ll want to re-assess your comfort with risk, determine if a different mix of assets is appropriate, then select the investments that best align with your needs. 

Assessing your risk tolerance

In general, investments that have potential to generate higher returns are also more risky. Only you can decide how comfortable you are with that trade-off. The more time you have to save, the more likely it is that undertaking a little higher risk can pay off.

As retirement approaches, you have less time to recover from market losses. While it may be tempting to avoid risk completely, you still have time for your assets to grow, and should consider taking advantage of that potential.

Once you retire, your comfort with risk may be lower than it was during your working life. However tempting it may be to avoid risk completely, you may still need to have some assets in growth-oriented investments to give your dollars the potential needed to outpace inflation and to last throughout retirement. 

To determine tolerance for risk, Ameriprise financial advisors ask investors to answer a risk tolerance questionnaire.

Risk tolerance Levels

Conservative

I am willing to accept the lowest return potential in exchange for the lowest potential fluctuation in my account value even if it may not keep pace with inflation.

Moderately conservative

I am willing to accept a relatively low return potential in exchange for relatively low fluctuation in account value.

Moderate

I am willing to accept a moderate return potential in exchange for some fluctuation in account value.

Moderately aggressive

I am seeking a relatively high return potential and am willing to accept a relatively high fluctuation and potentially substantial loss in my account value.

Aggressive

I am seeking the highest return potential and am willing to accept the highest fluctuation and could lose most or all of my account value.

Revising your asset allocation

Once you understand your risk tolerance, you can construct your asset allocation — the mix of investments in your portfolio. As you approach retirement, your asset allocation strategies will change, and you may want to make adjustments to help protect you from market risk while retaining potential for growth. In retirement, your asset allocation needs to generate income from your savings while growing your overall portfolio.

Diversifying your portfolio

Once you select your asset allocation, you need to choose the investments within it. The goal of diversification is to invest in a range of products such as cash vehicles, bonds and stocks, or mutual funds, so that your assets are spread over many unrelated companies, industries and regions. Diversification is an important strategy that can help reduce risk in your portfolio. While some of your investments may lose value, those losses may be offset by gains in other investments.

Determining your risk tolerance, constructing an asset allocation and diversifying your underlying investments can be a complex process. An Ameriprise financial advisor can help you understand and apply these concepts, and review the progress of your portfolio on a regular basis to help meet your needs.

Disclosures

Investment products are not federally or FDIC-insured, are not deposits or obligations of, or guaranteed by any financial institution, and involve investment risks including possible loss of principal and fluctuation in value.

Ameriprise Financial, Inc. and its affiliates do not offer tax or legal advice. Consumers should consult with their tax advisor or attorney regarding their specific situation.

Neither asset allocation or diversification assure a profit or protect against loss.

Ameriprise Financial Services, Inc. Member FINRA and SIPC.

How can you avoid making these common investing mistakes?

History shows that when people invest and stay invested, they’re more likely to earn positive returns in the long run. When markets start to fluctuate, it may be tempting to make financial decisions in reaction to changes to your portfolio. But people who base their financial decisions on emotion often end up buying when the market is high and selling when prices are low. These investors ultimately have a harder time reaching their long-term financial goals.

How can you avoid making these common investing mistakes? Consider these investment strategies, which can help you reduce the risks associated with investing and potentially earn more consistent returns over time.

Strategy 1: Asset allocation

Appropriate asset allocation refers to the way you weight the investments in your portfolio to try to meet a specific objective — and it may be the single most important factor in the success of your portfolio. 

For instance, if your goal is to pursue growth, and you’re willing to take on market risk to reach that goal, you may decide to place as much as 80% of your assets in stocks and as little as 20% in bonds. Before you decide how you’ll divide the asset classes in your portfolio, make sure you know your investment timeframe and the possible risks and rewards of each asset class.

Risks and rewards of major asset classes

Stocks

  • Can carry a high level of market risk over the short term due to fluctuating markets
  • Historically earn higher long-term returns than other asset classes
  • Generally outpace inflation better than most other investments over the long term

Bonds

  • Generally have less severe short-term price fluctuations than stocks and therefore offer lower market risk
  • Can preserve principal and tend to provide lower long-term returns and have higher inflation risks over time
  • Bond prices are likely to fall when interest rates rise (if you sell a bond before it matures, you may get a higher or lower price than you paid, depending on the direction of interest rates)

Money market instruments

  • Among the most stable of all asset classes in terms of returns, money market instruments carry low market risk (managers of these securities try to keep the per-share price at $1 and distribute returns as dividends)
  • Generally don’t have the potential to outpace inflation by a large margin
  • Not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency (there’s no guarantee that any fund will maintain a stable $1 share price)

Different asset classes offer varying levels of potential return and market risk. For example, unlike stocks and corporate bonds, government T-bills offer guaranteed principal and interest — although money market funds that invest in them do not. As with any security, past performance doesn’t necessarily indicate future results. And asset allocation does not guarantee a profit.

Strategy 2: Portfolio diversification

Asset allocation and portfolio diversification go hand in hand. 

Portfolio diversification is the process of selecting a variety of investments within each asset class to help reduce investment risk. Diversification across asset classes may also help lessen the impact of major market swings on your portfolio.

How portfolio diversification works

If you were to invest in the stock of just one company, you’d be taking on greater risk by relying solely on the performance of that company to grow your investment. This is known as “single-security risk” — the risk that your investment will fluctuate widely in value with the price of one holding. 

But if you instead buy stocks in 15 or 20 companies in several different industries, you can reduce the potential for a substantial loss. If the return on one investment is falling, the return on another may be rising, which may help offset the poor performer.

Keep in mind, this doesn’t eliminate risk, and there is no guarantee against investment loss.

Strategy 3: Dollar-cost averaging

Dollar-cost averaging is a disciplined investment strategy that can help smooth out the effects of market fluctuations in your portfolio.

With this approach, you apply a specific dollar amount toward the purchase of stocks, bonds and/or mutual funds on a regular basis. As a result, you purchase more shares when prices are low and fewer shares when prices are high. Over time, the average cost of your shares will usually be lower than the average price of those shares. And because this strategy is systematic, it can help you avoid making emotional investment decisions.

How dollar-cost averaging might work in rising and declining markets

In the illustration below, the cost of the investment ranges between $10 and $25 from January through April. A fixed monthly investment of $100 buys as many as 10 shares when the price is lowest but only four shares when the price is highest. In this example, dollar-cost averaging results in a lower average share price during the period, while the market average price — for someone who bought an equal number of shares each month — is higher.

Dollar-cost averaging at $100 per month

Rising market
Month
When the price is
You buy
January
$10
10.00 shares
February
$15
6.67 shares
March
$20
5.00 shares
April
$25
4.00 shares
Declining market
Month
When the price is
You buy
January
$25
4.00 shares
February
$20
5.00 shares
March
$10
10.00 shares
April
$5
20.00 shares

Your Ameriprise financial advisor can help you feel more confident about your financial future, so discuss these strategies with your advisor to see if they may be right for you.

Disclosures

Asset allocation, diversification and dollar-cost averaging do not assure a profit or protect against loss.

Investment products are not federally or FDIC-insured, are not deposits or obligations of, or guaranteed by any financial institution, and involve investment risks including possible loss of principal and fluctuation in value.

There are risks associated with fixed income investments, including credit risk, interest rate risk, and prepayment and extension risk. In general, bond prices rise when interest rates fall and vice versa. This effect is usually more pronounced for longer-term securities.

Stock investments have an element of risk. High-quality stocks may be appropriate for some investments strategies. Ensure that your investment objectives, time horizon and risk tolerance are aligned with stocks before investing, as they can lose value.

Ameriprise Financial Services, Inc. Member FINRA and SIPC.

How much does long-term care insurance cost?

Long-term care insurance can be a crucial piece of your financial plan. Here are answers to five common questions you may have when shopping for long-term care insurance.

Long-term care insurance questions

How much will coverage cost?

In 2017, a couple in their 60s will pay between $100 and $150 a month each for long term care insurance, according to the American Association for Long-Term Care Insurance.1 But, over the long term, not covering the risk may end up costing so much more. Some experts recommend that most people pay up to five percent of their income for long-term care coverage. You may find you need to adjust the length of coverage or the daily payment in your policy to make the purchase more affordable. And, you may also want to consider a policy that provides automatic cost-of-living increases to protect against inflation. 

Why should I buy long-term care insurance? 

Seventy percent of people turning age 65 will need long-term care services sometime in their lives, according to the U.S. Department of Health and Human Services. Even if you have done a good job saving for retirement so far, you need to prepare for unexpected events that can derail your future, and the need for long-term care may be one of the costliest of those events. For example, if you need to move to a nursing home, the median cost per year for a private room is more than $97,000 per year.2 Medicare may cover some extended care costs but only under certain limited conditions.

Cost breakdown of long-term care options

If you or a loved one needs more hands-on care, you have choices, including assisted living or home health care. Here’s what you can expect.

When should I buy it?

It’s best to purchase long-term care insurance while you are still healthy and able to purchase it. Often as you age you can develop conditions that may make coverage more expensive, or worse yet you may not be able to qualify at all.

How much coverage will I need?

Long-term care prices can vary from state to state, so you may want to look into nursing home and assisted living costs in your area so you can make an accurate estimate of how much coverage you may need. Women typically need care longer than men, averaging 3.7 years compared to 2.2 years, respectively, according to longtermcare.govHere is a link to check out costs in your state.

Another important choice is how much you may need in daily benefits. Even if the average cost of care is more than $200 a day, a lower daily benefit can still go a long way toward paying for much-needed home health care, aides and housekeepers. For instance, a two-year benefit period at $100 per day is a $73,000 pool of money. That can buy you time to make other decisions.

What if I buy it and don’t end up needing it?

If you are concerned about spending money on long-term care insurance that you’ll never use, you may want to consider some of the hybrid products available. Many life insurance policies now offer a long-term care benefit rider that allows the policyholder to use a portion of the death benefit for long-term care. There are also life and long-term care hybrid insurance policies that pay a death benefit if the policyholder never needs long-term care. Both options mean that you or your beneficiary may benefit from the policy no matter how your circumstances unfold.

Pros and cons of your long-term care insurance options

 
Stand alone long-term care
Life insurance with a long-term care benefit rider
Hybrid of life insurance and long-term care
Pros

Sole purpose is long-term care protection

Flexible policy design for affordability

Combines life insurance and long-term care in one policy

Death benefit goes to your beneficiary

Cost of long-term care coverage may be guaranteed never to increase

May have money back guarantee. All guarantees are based by the claims-paying ability of the issuing company.

Cons

Rates can increase

Won’t get your
money back if you don’t use the insurance

Long-term care benefits may be more limited than with stand alone policy

Death benefit may be lower than with life insurance with a long-term care benefit rider

Ask your advisor to help you determine which strategy may be right for you.

Disclosures

1American Association for Long-Term Care Insurance, “Costs for new long term care insurance policies show nominal increase.”

2Genworth Cost of Care Survey, 2017.

By clicking certain links you will leave ameriprise.com. The included hyperlinks are provided for informational purposes only and are not an indication or endorsement of the content therein or affiliation with respect to the linked site. Be aware that the linked site will be subject to rules, regulation, and privacy and security provisions that are separate, and may differ, from Ameriprise Financial.

Before you purchase, be sure to ask your sales representative about the insurance policy’s features, benefits and fees, and whether the insurance is appropriate for you, based upon your financial situation and objectives.

Ameriprise Financial Services, Inc. Member FINRA and SIPC.

Vulnerable and senior investor resource guide

Some investors may face a unique set of challenges if they rely on family and caregivers to assist them in daily tasks. They may be more susceptible to financial exploitation due to isolation, cognitive decline, physical disability or other health issues.

Ameriprise strives to prevent any form of financial exploitation through ongoing education and dedicated support for our elderly and vulnerable clients – as well as for their friends, family and caregivers.

What is financial exploitation?

Financial exploitation is the illegal or improper use of an elderly or disabled person’s funds, property, or assets1. It is estimated that financial exploitation costs seniors almost three billion dollars annually2.

According to the National Adult Protective Services Association. the vast majority of reports to Adult Protective Services involve perpetrators who are related to, or in a trusting relationship with the victim2. However, scams perpetrated by strangers are also very common.

Signs of financial exploitation

  • Unexplained disappearance of funds or valuable possessions
  • Sudden appearance of previously uninvolved relatives claiming their rights to the investor’s affairs and possessions
  • Unexplained sudden transfer of assets to a family member or someone outside the family
  • Abrupt changes in a will, an account’s beneficiaries or other financial accounts
  • Substandard care being provided or bills unpaid despite the availability of adequate financial resources
  • Evidence of forgery for financial transactions or for the titles of his/her possessions or property

How investors can protect against financial exploitation

  • Don’t share personally identifiable information, such as Social Security number, credit card or bank account information over the phone
  • Review your account statements to ensure they are accurate
  • Shred files with your credit card number or other personally identifiable information on them
  • Sign up for the National “Do Not Call” Registry to prevent telemarketers from contacting you
  • Add a Trusted Contact Person to your account. This person will serve as a contact on your account in the event the firm suspects financial exploitation, to confirm someone is acting as the representative of a power of attorney or to determine your physical or mental health status

How to report financial exploitation at Ameriprise

If you or a loved one has been a victim of financial abuse:

  • Tell someone you trust or call your local police department
  • If you are a client of Ameriprise Financial, contact your financial advisor
  • Call customer service at 800 862-7919 to inquire about additional security measures to help

Additional Resources

FINRA Securities Helpline for Seniors
Reduce your risk of identity theft
Privacy, Security and Fraud Center
Senior Investor Protection Toolkit

 

Disclosures

1 Securities Industry and Financial Markets Association 2020. As of 4/6/2020. Retrieved from https://www.sifma.org/resources/general/senior-investor-protection-toolkit/
2 National Adult Protective Services Association (n.d.). As of 5/23/2019. Retrieved from http://www.napsa-now.org/policy-advocacy/exploitation 
Clicking some of the links will cause you to leave ameriprise.com.  The included hyperlinks are provided for informational purposes only and are not an indication or endorsement of the content therein or affiliation with respect to the linked sites. Be aware that the linked sites will be subject to rules, regulation, and privacy and security provisions that are separate, and may differ, from Ameriprise Financial.
Ameriprise Financial cannot guarantee future financial results.
Ameriprise Financial Services, LLC. Member FINRA and SIPC.

How to make the most of your Medicare benefits

If you’re near retirement or already retired — or helping someone who is — you’ll want to be aware of the ways Medicare can impact your finances so you can plan accordingly.

1. The cost of Medicare

Medicare has four parts, each with different costs. Take a look at the breakdown below to get a better sense of what each part entails.

Part A is hospital insurance, including in-patient care, skilled home care and hospice services.

A majority of seniors who paid taxes into Medicare during their working years do not have to pay premiums for Part A coverage. If you do not qualify for premium-free Part A but want hospital insurance, you can buy it by paying a premium of up to $437 per month in 2019.

Medicare hospital insurance involves deductibles, co-insurance and co-pays. For example, for a hospital stay in 2019, you are responsible for a $1,364 deductible.

Part B is medical insurance, including doctor visits, lab tests and some medical equipment.

Most people will pay the standard monthly amount of $135.50 for Part B insurance in 2019. The cost may be higher for people with higher reported incomes. Additional details can be found on medicare.gov.

Part B coverage also involves deductibles, co-insurance and co-pays. For 2019, the annual deductible is $185.

Part C is known as Medicare “Advantage.” These are health insurance plans offered by private companies that are approved and regulated by Medicare.

What is Medicare Advantage? With an Advantage plan, you get complete Part A and Part B coverage, and you have the same rights and protections of original Medicare.

Advantage plans usually charge higher monthly premiums because they offer additional services and broader coverage. For instance, Medicare does not cover routine dental care, hearing aids or vision care, and many Advantage plans do. And, most Advantage plans offer prescription drug coverage as part of their main plan, so you don’t have to buy this coverage separately.

Part D is for prescription drug plans (PDPs).

PDPs provide insurance coverage for your prescription drug therapies, and most plans are structured with premiums, deductibles and cost-sharing guidelines.

Many PDPs classify their list of covered drugs into “tiers” each priced differently. In general, drugs in lower tiers, such as generic drugs, cost less than those in higher tiers, such as brand-name drugs.

Drug lists and costs can vary greatly from plan to plan, so it’s imperative to find out if your prescription drugs are covered and how much they cost when you choose a PDP.

2. You may be penalized if you enroll too late

You can sign up for Medicare during a seven-month window, called your initial enrollment period, which includes the three months before the month you turn 65, your birthday month and the full three months following your birthday month. If you want Part B coverage and miss this enrollment window, you may have to pay a penalty premium each month.

3. Changes can be made to your Medicare plan on an annual basis

Review your Medicare plan regularly to ensure you’re getting the right coverage at the right price. You can change your Medicare coverage once a year during open enrollment, a set period when you can review your health and prescription drug plans and change them if you want to. For example, you can switch Advantage plans, opt in or out of original Medicare (Parts A and B) or change prescription plans. Medicare open enrollment typically takes place from Oct. 15 to Dec. 7, and any changes you elect to make will take effect on Jan. 1 of the following year.

Talk with your advisor about your health care needs in retirement and find out how you can make the most of your Medicare benefits.

 

Disclosures

Before you purchase, be sure to ask your sales representative about the insurance policy’s features, benefits and fees, and whether the insurance is appropriate for you, based upon your financial situation and objectives.

Ameriprise Financial Services, Inc. Member FINRA and SIPC.

Downsizing your home

As your life evolves, your needs change. That’s especially true of your housing needs when you transition into retirement.

What to consider when downsizing your life

If you’re an empty-nester, it may be time to rethink your housing situation. You may want to downsize into a smaller home, condo or townhouse that requires less maintenance. Or maybe you’d like to move to a warmer climate or live closer to your grandchildren. You may even wish to help your parents with retirement housing alternatives.

When thinking about how to downsize your home, consider your lifestyle. To help evaluate your choices, ask yourself the following questions:

  • Do you want to continue with home maintenance chores and expenses? Can you afford to hire help? Will you have to rely on friends, family and relatives?
  • How close do you want to live to family and friends? To public transportation? To shopping and social life?
  • Will you be able to renovate your home as your physical needs change?
  • Do you adjust to change and make friends easily?
  • How does your spouse feel about moving or staying at home? Your family?

What retirement housing options do you have?

  • Stay in the family home. If you’re physically independent and willing to do the upkeep, you’ll probably be happy with this option. You might also consider remodeling your home to reflect your changing lifestyle and needs.
  • Go with a smaller home, condo or townhouse. Downsizing your home and moving into a smaller space will likely be less expensive and more manageable. With a condo or townhome, most of the outdoor maintenance chores are done for you.
  • Move closer to or move in with your children. This option requires an important discussion with your kids about the emotional and practical implications this move could have on you and your loved ones. Ask yourself the following questions: are you physically and financially independent? Will you feel like you’re in the way? How will other family members feel?
  • Other retirement housing possibilities. Continuing care retirement communities (CCRC) are an increasingly popular option for many. CCRCs and/or assisted-living facilities rent rooms or apartments and offer as many or as few “extras” as you care to choose — housekeeping services, meals, social activities, transportation. Some also offer degrees of physical assistance if you require it.

Other financial considerations when downsizing

Before you make any major decisions, talk to a financial advisor about how changing your housing might affect your financial situation and your retirement, now and in the future.

Plan for the retirement lifestyle you want

An Ameriprise financial advisor can help you evaluate your options and considerations in terms of potentially downsizing your home as you prepare for retirement.

Disclosures

Ameriprise Financial cannot guarantee future financial results.

Ameriprise Financial Services, LLC. Member FINRA and SIPC.

It’s never too early to begin thinking about your legacy or to shape your estate plan.

Financial estate planning

It’s never too early to begin thinking about your legacy or to shape your estate plan. Contrary to what many people think, you don’t need to be a millionaire to have an estate plan. An estate plan is an imperative part of any ongoing financial planning process.

What is estate planning?

Estate planning is the process of mapping out how your estate and assets will be divided in the event of your death, and to whom they will be passed on to. It also includes a plan for end-of-life health decisions should you become incapable of making these decisions yourself. Ideally, a good estate plan also seeks to minimize the tax burden for those inheriting your assets. 

Why is estate planning important?

Your life, your dreams, and your legacy transcend money — they also encompass your values. Your wishes and dreams may include using your assets to help secure your family’s future or you may choose to support another cause close to your heart. This might be your favorite charity, your community or your place of worship.

Elements of an estate plan

  • will lets you specify your wishes, including how you want your property distributed, who will administer your estate and who will care for your minor children.
  • trust holds your assets for the benefit of one or more people (you, your spouse, and your children). You’ll need an attorney’s assistance to create a trust.
  • Life Insurance proceeds are paid to a beneficiary at your death.
  • Gifts are transfers of property made during your life to family, friends or charity.
  • Tax exclusions are available as important estate planning tools. Consult your tax professional for details.

Preparing to plan your estate

Designing a legacy consistent with your dreams and values is a personal, often complex process. But it’s well worth the effort. Consider setting up a family estate planning meeting to help improve communication, prevent conflicts and let your family know what’s important to you.

After giving some thought to your wishes, including the needs of family members you want to provide for, seek the professional guidance and estate planning advice you need from your attorney, tax professional and financial advisor. To help you estimate the value of your estate, you’ll need to take the following into consideration:

  • Current income and likely future income
  • Annual expenses
  • Current assets and debts
  • Tax implications of federal transfer taxes, state death taxes and federal income taxes

Revisit your estate plan regularly

Just like your financial plan, it’s important to review your will and other estate planning documents regularly, or when significant life events occur. An Ameriprise financial advisor can help you create a financial plan that includes estate planning strategies designed to help you reflect the things that are important to you.

 

Disclosures

Ameriprise Financial, Inc. and its affiliates do not offer tax or legal advice. Consumers should consult with their tax advisor or attorney regarding their specific situation.

Ameriprise Financial cannot guarantee future financial results.

Investment advisory products and services are made available through Ameriprise Financial Services, LLC, a registered investment adviser.

Ameriprise Financial Services, LLC. Member FINRA and SIPC.

It’s never too early to begin thinking about your legacy or to shape your estate plan.

Financial estate planning

It’s never too early to begin thinking about your legacy or to shape your estate plan. Contrary to what many people think, you don’t need to be a millionaire to have an estate plan. An estate plan is an imperative part of any ongoing financial planning process.

What is estate planning?

Estate planning is the process of mapping out how your estate and assets will be divided in the event of your death, and to whom they will be passed on to. It also includes a plan for end-of-life health decisions should you become incapable of making these decisions yourself. Ideally, a good estate plan also seeks to minimize the tax burden for those inheriting your assets. 

Why is estate planning important?

Your life, your dreams, and your legacy transcend money — they also encompass your values. Your wishes and dreams may include using your assets to help secure your family’s future or you may choose to support another cause close to your heart. This might be your favorite charity, your community or your place of worship.

Elements of an estate plan

  • will lets you specify your wishes, including how you want your property distributed, who will administer your estate and who will care for your minor children.
  • trust holds your assets for the benefit of one or more people (you, your spouse, and your children). You’ll need an attorney’s assistance to create a trust.
  • Life Insurance proceeds are paid to a beneficiary at your death.
  • Gifts are transfers of property made during your life to family, friends or charity.
  • Tax exclusions are available as important estate planning tools. Consult your tax professional for details.

Preparing to plan your estate

Designing a legacy consistent with your dreams and values is a personal, often complex process. But it’s well worth the effort. Consider setting up a family estate planning meeting to help improve communication, prevent conflicts and let your family know what’s important to you.

After giving some thought to your wishes, including the needs of family members you want to provide for, seek the professional guidance and estate planning advice you need from your attorney, tax professional and financial advisor. To help you estimate the value of your estate, you’ll need to take the following into consideration:

  • Current income and likely future income
  • Annual expenses
  • Current assets and debts
  • Tax implications of federal transfer taxes, state death taxes and federal income taxes

Revisit your estate plan regularly

Just like your financial plan, it’s important to review your will and other estate planning documents regularly, or when significant life events occur. An Ameriprise financial advisor can help you create a financial plan that includes estate planning strategies designed to help you reflect the things that are important to you.

 

Disclosures

Ameriprise Financial, Inc. and its affiliates do not offer tax or legal advice. Consumers should consult with their tax advisor or attorney regarding their specific situation.

Ameriprise Financial cannot guarantee future financial results.

Investment advisory products and services are made available through Ameriprise Financial Services, LLC, a registered investment adviser.

Ameriprise Financial Services, LLC. Member FINRA and SIPC.

Beneficiary designation

Designating a beneficiary: Keeping your accounts in order

Choosing appropriate beneficiaries for your financial accounts is a crucial part of leaving the legacy you want. Learn more about the basics of beneficiaries, tax implications and other considerations that can help ensure your loved ones receive your assets.

  • What is a beneficiary and why is it important?
  • What’s the difference between primary and secondary beneficiaries?
  • Who can you designate as a beneficiary?
  • Beneficiaries for retirement accounts, annuities and life insurance policies
  • Special considerations for IRAs

Ameriprise financial advisors will assist you with the beneficiary designation process and answer any questions you might have.


What is a beneficiary?

A beneficiary is a person or entity, such as a trust or non-profit, that you designate to receive the assets in your financial accounts when you die. A variety of accounts – from life insurance plans to traditional retirement funds – allow you to designate beneficiaries.

You can select family members or also friends or business entities as your beneficiary. Note that the account and subsequent funds are treated differently depending on your relationship with the beneficiary. For example, if you choose your spouse as an IRA beneficiary, they can move the assets into their own IRA account after your death. Non-spouse beneficiaries do not have this option.

The importance of choosing a beneficiary

Choosing a beneficiary is a simple way to indicate who should inherit the funds or assets in your accounts without going through the steps of creating a will or estate document. However, be aware that the beneficiary/beneficiaries you name for each of your retirement plans, annuities, life insurance policies and other assets will receive the proceeds from that account even if your will outlines different instructions. To help ensure everything is in order, you should regularly review all of your beneficiary designations with a financial advisor or estate planning attorney.

If you do not designate beneficiaries, your retirement plan will go to the default beneficiary under the plan document (if there is one) or into probate court if it goes to your estate. This could delay distribution of your assets as you intended and result in additional expenses for your loved ones after you’re gone.

Primary beneficiaries, secondary beneficiaries and contingent beneficiaries – what’s the difference?

It’s important to understand the different beneficiary types: primary, secondary and contingent beneficiaries.

  • Primary beneficiaries are your first choice to receive your retirement accounts or other benefits. If you’re married, this will typically be your spouse.
  • secondary beneficiary and a contingent beneficiary are essentially the same. These beneficiaries will be named and awarded your retirement benefits and assets if your primary beneficiary doesn’t survive you or disclaims the assets. 

Designate both primary and secondary beneficiaries – and take special measures if you’re assigning minors

If your named beneficiary doesn’t survive you, your funds could revert to your estate, resulting in probate court. To help prevent gaps in the beneficiary designation process and properly allocate all of your accounts, you should name both primary and secondary beneficiaries.

Similarly, if you’re designating children as your beneficiaries, your advisor or estate planning attorney can help you create a plan to ensure that your minor beneficiaries receive the funds when they’re supposed to — without unnecessary legal costs in the future.

Who (and what) can you designate as a beneficiary and what are the outcomes?

Your spouse
A spousal beneficiary has more flexibility to delay taxed distributions and move assets to their own account. For 401(k) or pension plans, your spouse must be the primary beneficiary unless spousal consent is given to the naming of another beneficiary. 

Your children or other family members (excluding your spouse)
You can assign someone else such as a child or other family member but it will require your spouse to sign away rights to be the primary beneficiary. Keep in mind that assigning a non-spouse as your beneficiary will not come with the same tax benefits and rollover options.

A trust
Designating a trust as beneficiary provides control over how assets are distributed. But there can be tax implications and other considerations. Always seek advice from an experienced tax professional before choosing a trust as a retirement plan or IRA beneficiary.

A charity
Choosing a charity as a beneficiary is a simple process for those wanting to give back after they pass away. However, keep in mind that mixing charity and non-charity beneficiaries may change the options available to the non-charity beneficiaries of a retirement plan if the charity is not paid out in a timely fashion.

Naming multiple beneficiaries
Having a hard time choosing between multiple beneficiaries? Fortunately, you can name more than one. If doing so, you will specify the amounts you want to allocate to each beneficiary. You can also choose to designate different beneficiaries within different accounts.

In addition to naming beneficiaries in a will, it’s important that you record your beneficiary choices in each of your financial accounts. Note that if there is a discrepancy, the beneficiaries you note in those accounts will supersede who you designate in your will. 

Naming your estate as a beneficiary 
Naming your estate as a beneficiary can feel more straightforward than naming specific beneficiaries for your major assets, but it has significant downsides.

If you name your estate as a beneficiary, the assets in your estate must pass through probate before distribution. This could take a year or longer. Additionally, when an estate is in probate, distribution of the assets can’t occur until creditors’ claims against the estate are resolved.

However, if your named beneficiaries are individuals, trusts or charities, your assets will typically go to them directly, bypassing probate and creditors.

  • Choose both primary and secondary beneficiaries
  • Keep taxes in mind when choosing beneficiaries
  • Don’t choose your estate as a beneficiary
  • Minors require special considerations

Retirement account, annuities and life insurance policies

Not all accounts and assets are equal with regard to beneficiary designations. The responsibilities and outcomes for beneficiaries can be very different, depending on the type of account or asset:

Annuities

  • Any annuity beneficiary can cash in the remaining funds left in an annuity after the owner passes away.
  • Spouses can either cash in an annuity or keep it, with the original contract terms still in force.
  • Non-spouse beneficiaries are required to take distributions
  • Annuity beneficiaries must pay income tax on the gains in the annuity — the difference between the principal paid into the annuity and the value of the annuity at the time the owner dies.

Retirement accounts

  • Retirement account assets are taxed when distributed from the plan to beneficiaries.*
  • Spousal beneficiaries can roll assets over into a new or existing retirement account.
  • Non-spouse beneficiaries are required to take distributions
  • Federal law requires that a spouse must be the primary beneficiary of a 401(k) account or pension plan account, unless the spouse waives their right in writing.

Life insurance policies

  • Beneficiaries receive the policy proceeds income tax-free.
  • In certain states, a spouse may be legally entitled to life insurance benefits.
  • Beneficiaries are paid in lump sums or in payments as requested by the account holder.

*This does not apply to Roth IRAs and Roth 401(k) accounts. Because the initial account owner funded them with post-tax dollars, these accounts are not taxable for beneficiaries and earnings are tax free as well if the Roth account has been in place for 5 years.

IRA stretch strategy in estate plans

An “IRA stretch strategy” allows an IRA beneficiary to take required minimum distributions (RMDs) from an inherited IRA after the owner’s death

For deaths prior to January 1, 2020, non-spouse beneficiaries such as adult children who inherited retirement accounts can take required minimum distributions over their lifetime.

Prior to the Secure Act, beneficiaries who inherited retirement accounts (such as a traditional or Roth IRA) could take the RMDs over their lifetime. The SECURE Act changes that financial strategy for most non-spouse beneficiaries who inherit their retirement account on or after Jan. 1, 2020. Now, those beneficiaries must take the account proceeds and pay the corresponding taxes within 10 years of inheriting the account. This can be done with any number of distributions as long as the entire account is distributed by the end of the year that contains the 10th anniversary of the owner’s death.

While the timeframe for using an IRA stretch is now shorter, this strategy can still help you pass substantial assets to your children or other family members. Additionally, some beneficiaries can still stretch their inherited IRAs over their lifetime, including:

  • Spouse beneficiaries (spouse beneficiaries usually rollover to their own IRA)
  • Non-spouse beneficiaries with disabilities or chronic illnesses
  • Non-spouse beneficiaries who are no more than 10 years younger than the IRA owner
  • Minor children of the IRA owner (up to the age of majority)

Learn more about the SECURE Act and the implications for using the stretch IRA strategy in estate plans  

An advisor will help you with beneficiary designation

Choosing the appropriate beneficiaries for your retirement accounts is important. Ask an Ameriprise financial advisor to review your accounts and beneficiaries so you can be confident about the legacy you’re leaving.

Disclosures

Ameriprise Financial, Inc. and its affiliates do not offer tax or legal advice. Consumers should consult with their tax advisor or attorney regarding their specific situation.

Investment products are not federally or FDIC-insured, are not deposits or obligations of, or guaranteed by any financial institution, and involve investment risks including possible loss of principal and fluctuation in value.

Ameriprise Financial Services, LLC. Member FINRA and SIPC.

How COVID-19 could change markets and economies forever

8 factors that could change economies and markets forever

The effects of COVID-19 are vast. Individuals, businesses and governments around the world have faced personal and financial impacts. As a result, material changes to spending patterns could have long-term implications as new habits emerge.

Columbia Threadneedle Investments Portfolio Manager Pauline George sums up eight factors that could permanently change economies and markets. Long-term investors should take note and continue to rely on their Ameriprise advisor for personalized financial advice.

PEAK GLOBALIZATION

Both in terms of consumption and supply chains, countries will start to think more about where “stuff” comes from and will question their overreliance on certain countries. There could also be an outpouring of support for small local businesses.

CASH TO CARD ACCELERATES

This could grow as people are forced to shift from offline to online shopping and with many physical stores no longer accepting cash for hygiene purposes.

HEALTH AND HYGIENE

Rules and regulations will step up, particularly in China where pressure will grow on the country to regulate its food industry, given the source of the virus outbreaks.

WORKING FROM HOME BECOMES MORE ACCEPTED

Companies are now forced to enable working from home, and it could become a more acceptable way of working. This has implications for computer equipment and cloud computing investment, as well as commercial real estate and travel, as companies evaluate their need for office space and business trips.

PERCEPTIONS THAT TECH AND PHARMA ARE SHIFTING

We’ve all relied heavily on technology platforms, including social media, during the isolation period. In the longer term, tech firms will benefit from stronger user growth and rising engagement, while privacy concerns and government attacks may diminish. Pharmaceutical companies may also see a less adversarial environment as they work to develop drugs and therapies to address COVID-19.

ONLINE CONSUMPTION GROWS

Online consumption is rising, especially for groceries, education and broader retail. What started out of necessity for many may perhaps become the norm. This is likely to accelerate certain trends already occurring within retail (e.g., fewer physical locations) and online grocery delivery (which was already growing 100% year-over-year for some retailers).1 The set of online experiences is also likely to grow — many gyms are switching to streaming exercise classes, and many schools and universities have shifted to online courses. It’s possible that these changes could become permanent.

RISE OF THE GREEN AGENDA

Countries are now seeing the benefits of cleaner air and waterways, and they may try to find ways to maintain these positive changes post-outbreak. Boosted by fiscal stimulus, we might see a greater push for the green agenda and rising investment in things like renewable energy and electric vehicle infrastructure.

THE RISE OF MORAL CAPITALISM

Companies may have a fundamental reset and look more toward their purpose like their impact on the environment, their customers, community, employees and the supply chain. Corporate scrutiny may also accelerate in a post-COVID-19 world.

Market and economic resources

Ameriprise has additional market resources and timely economic insights from financial experts to help keep you informed about current market and economic realities — and how you might be affected. Visit the Ameriprise market volatility resources page for expert analysis and perspectives, audiocasts and other resources.

Speak with an advisor

An Ameriprise advisor can review your portfolio and suggest any changes to factor in potential opportunities in the market in consideration of your financial goals, risk tolerance and time horizon. We are committed to helping you navigate market conditions with personalized advice for your long-term, diversified investment strategy.

Disclosures

Source: Columbia Threadneedle Investments, as of 03/31/20

Investment products are not federally or FDIC-insured, are not deposits or obligations of, or guaranteed by any financial institution, and involve investment risks including possible loss of principal and fluctuation in value.

Diversification can help protect against certain investment risks, but does not assure a profit or protect against loss.

Investment advisory products and services are made available through Ameriprise Financial Services, LLC, a registered investment adviser.

Ameriprise Financial Services, LLC. Member FINRA and SIPC.

How COVID-19 could change markets and economies forever

8 factors that could change economies and markets forever

The effects of COVID-19 are vast. Individuals, businesses and governments around the world have faced personal and financial impacts. As a result, material changes to spending patterns could have long-term implications as new habits emerge.

Columbia Threadneedle Investments Portfolio Manager Pauline George sums up eight factors that could permanently change economies and markets. Long-term investors should take note and continue to rely on their Ameriprise advisor for personalized financial advice.

PEAK GLOBALIZATION

Both in terms of consumption and supply chains, countries will start to think more about where “stuff” comes from and will question their overreliance on certain countries. There could also be an outpouring of support for small local businesses.

CASH TO CARD ACCELERATES

This could grow as people are forced to shift from offline to online shopping and with many physical stores no longer accepting cash for hygiene purposes.

HEALTH AND HYGIENE

Rules and regulations will step up, particularly in China where pressure will grow on the country to regulate its food industry, given the source of the virus outbreaks.

WORKING FROM HOME BECOMES MORE ACCEPTED

Companies are now forced to enable working from home, and it could become a more acceptable way of working. This has implications for computer equipment and cloud computing investment, as well as commercial real estate and travel, as companies evaluate their need for office space and business trips.

PERCEPTIONS THAT TECH AND PHARMA ARE SHIFTING

We’ve all relied heavily on technology platforms, including social media, during the isolation period. In the longer term, tech firms will benefit from stronger user growth and rising engagement, while privacy concerns and government attacks may diminish. Pharmaceutical companies may also see a less adversarial environment as they work to develop drugs and therapies to address COVID-19.

ONLINE CONSUMPTION GROWS

Online consumption is rising, especially for groceries, education and broader retail. What started out of necessity for many may perhaps become the norm. This is likely to accelerate certain trends already occurring within retail (e.g., fewer physical locations) and online grocery delivery (which was already growing 100% year-over-year for some retailers).1 The set of online experiences is also likely to grow — many gyms are switching to streaming exercise classes, and many schools and universities have shifted to online courses. It’s possible that these changes could become permanent.

RISE OF THE GREEN AGENDA

Countries are now seeing the benefits of cleaner air and waterways, and they may try to find ways to maintain these positive changes post-outbreak. Boosted by fiscal stimulus, we might see a greater push for the green agenda and rising investment in things like renewable energy and electric vehicle infrastructure.

THE RISE OF MORAL CAPITALISM

Companies may have a fundamental reset and look more toward their purpose like their impact on the environment, their customers, community, employees and the supply chain. Corporate scrutiny may also accelerate in a post-COVID-19 world.

Market and economic resources

Ameriprise has additional market resources and timely economic insights from financial experts to help keep you informed about current market and economic realities — and how you might be affected. Visit the Ameriprise market volatility resources page for expert analysis and perspectives, audiocasts and other resources.

Speak with an advisor

An Ameriprise advisor can review your portfolio and suggest any changes to factor in potential opportunities in the market in consideration of your financial goals, risk tolerance and time horizon. We are committed to helping you navigate market conditions with personalized advice for your long-term, diversified investment strategy.

Disclosures

Source: Columbia Threadneedle Investments, as of 03/31/20

Investment products are not federally or FDIC-insured, are not deposits or obligations of, or guaranteed by any financial institution, and involve investment risks including possible loss of principal and fluctuation in value.

Diversification can help protect against certain investment risks, but does not assure a profit or protect against loss.

Investment advisory products and services are made available through Ameriprise Financial Services, LLC, a registered investment adviser.

Ameriprise Financial Services, LLC. Member FINRA and SIPC.

Staying the course with a plan for long-term investment can pay off over time.

Staying the course with a plan for long-term investment can pay off over time.

If you are in retirement or near retirement, it may be tempting to place your savings into low-return conservative investments. However, you should also consider the risk that you may outlive your assets or that your assets will not keep pace with inflation.

When you are further away from retirement, time is your most powerful asset. It may be tempting to pull out of the market if you need extra cash or when the market is shaky, but being out of the market can cause you to miss valuable opportunities if stocks should rise.

Choose investments insulated against inflation to plan for retirement

Inflation has been a consistent fact of life in our economy. While the inflation rate varies from year to year, since the mid-1980s it has hovered in the 2%-4% range. An inflation rate of 3% may not seem like a big deal, but over 20 years it would raise the price of a $.42 postage stamp to $.76. How would it increase more expensive purchases?

  • A $1,000 refrigerator would cost a little over $1,800.
  • A $23,000 car would sell for $41,540.

The longer you live, the more these kinds of price increases could affect your retirement lifestyle choices — unless your investment portfolio is designed to keep up with inflation.

Even at a moderate 3% rate, inflation can cut the purchasing power of your retirement savings almost in half over 20 years. If you’re entirely invested in cash and short-term investments, these assets are likely to shrink in “real” value during a long retirement.

By comparison, stocks have historically outpaced inflation and provided strong returns over the long term. If you are concerned about losses in the stock market, there may be ways to adjust your asset allocation so that your overall portfolio is somewhat less volatile — without giving up all of its growth potential.

Enjoying a longer life

People are living longer these days, meaning your retirement savings may have to last a long time as well. How long? According to the Social Security Administration1

  • A 65-year old man can expect to live, on average, to 84.3.
  • A 65-year old woman can expect to live, on average, until age 86.6.
  • About one out of every four 65-year-olds today will live past age 90, and one out of 10 will live past age 95.

Longevity trends suggest that these remarkable numbers will continue to rise.

Your total investment time horizon is longer than you may have thought. Depending on your age today, you could be creating and managing an investment strategy for 20 years or more to ensure you don’t outlive your retirement savings.

Market timing can be costly

It pays to stay with long-term investments. History shows that the markets have bounced back after losing value and it’s likely this will happen again should major dips occur in the future. As the chart below shows, missing even a handful of days can have a long-term impact on your savings.

The graph below, from our partner Lord Abbett, shows how a hypothetical $10,000 in the S&P 500 index would have been affected by missing the market’s top-performing days over the 25-year period from January 1, 1992 to December 31, 2017, which consists of over 6,000 trading days2

Markets tend to recover

History is on the side of investors with a long-term investment approach. Volatile markets are a fact of life — as are market recoveries.

Be patient and stay invested. Markets tend to bounce back from downturns, typically with a healthy revival.

An Ameriprise financial advisor can help you define and create a strategy to give you the best chance for long-term success.

 

Disclosures

Information based on Social Security Calculators: Life Expectancy (https://www.ssa.gov/planners/lifeexpectancy.html), 2017

2 A Note about Risk: The value of investments in equity securities will fluctuate in response to general economic conditions and to changes in the prospects of particular companies and/or sectors in the economy. While growth stocks are subject to the daily ups and downs of the stock market, their long-term potential as well as their volatility can be substantial. Value investing involves the risk that the market may not recognize that securities are undervalued, and they may not appreciate as anticipated. Smaller companies tend to be more volatile and less liquid than larger companies. Small cap companies may also have more limited product lines, markets, or financial resources and typically experience a higher risk of failure than large cap companies. The value of an investment in fixed-income securities will change as interest rates fluctuate and in response to market movements. As interest rates f all, the prices of debt securities tend to rise. As rates rise, prices tend to fall.

No investing strategy can overcome all market volatility or guarantee future results.

The S&P 500 Index is widely regarded as the standard f or measuring large cap U.S. stock market performance and includes a representative sample of leading companies in leading industries. Indexes are unmanaged, do not reflect deduction of fees and expenses and are not available for direct investment. 

The information provided herein is not directed at any investor or category of investors and is provided solely as general information about our products and services and to otherwise provide general investment education. 

No information contained herein should be regarded as a suggestion to engage in or ref rain from any investment-related course of action as Lord, Abbett & Co LLC (and its affiliates, “Lord Abbett”) is not undertaking to provide impartial investment advice, act as an impartial adviser, or give advice in a fiduciary capacity with respect to the materials presented herein. If you are an individual retirement investor, contact your financial advisor or other non-Lord Abbett fiduciary about whether any given investment idea, strategy, product, or service described herein may be appropriate for your circumstances.

The material is not intended to be relied upon as a forecast, research, or investment advice, is not a recommendation or offer to buy or sell any securities or to adopt any investment strategy, and is not intended to predict or depict the performance of any investment. Readers should not assume that investments in companies, securities, sectors, and/or markets described were or will be profitable. Investing involves risk, including possible loss of principal. This document is prepared based on the information Lord Abbett deems reliable; however, Lord Abbett does not warrant the accuracy and completeness of the information. Investors should consult with a financial advisor prior to making an investment decision.

Investment products are not federally or FDIC-insured, are not deposits or obligations of, or guaranteed by any financial institution, and involve investment risks including possible loss of principal and fluctuation in value.

Past performance is not a guarantee of future results.

Neither asset allocation nor diversification can assure a profit or protect against loss.

Ameriprise Financial Services, LLC. Member FINRA and SIPC.

Social Security is often associated with a retirement program, but you can use your benefits for other reasons.

Social Security is often associated with a retirement program, but you can use your benefits for other reasons. If you become disabled, you may use Social Security, or if you lose a family member, you may be eligible for survivor benefits. 

Learn more about Social Security benefits for you and your family







 

What should you do with your 401(k) when you switch jobs?

You’ve worked hard to save money in your 401(k) or 403(b), but what should you do with this money if you change jobs? You have several options and it’s important to consider each carefully.

Your Ameriprise advisor will evaluate your options and help you decide based on your financial goals. If you don’t have an advisor, you can search for one in your area.

Should I roll over my 401(k) or leave it in my previous employer’s plan?

Keep your savings with your former employer’s plan 

If you are happy with your current investment options and your former employer’s qualified retirement plan allows you to maintain your account, this might be the most convenient choice, but you should still evaluate your options.

If you choose to leave your savings in the plan, be sure to track your account regularly, review your investments as part of your overall portfolio and keep the beneficiaries up to date. Maintaining a complete financial picture of all your retirement savings can help both you and your financial advisor monitor your progress and stay appropriately invested for your goals, risk tolerance and time horizon.

Additional considerations:

  • The amount of money you have in your account. If you have less than $5,000 in your account, you may be required to transfer your money out of that retirement plan, and if you have less than $1,000 in the account, your former employer will likely cut you a check for the appropriate amount.
  • Employer stock. If you have employer stock that has grown significantly in value, tax breaks for employer stock distributed in kind from a qualified plan will be lost if you roll to an IRA or transfer to a new employer’s plan.

Transfer your savings to your new employer’s 401(k) plan 

Your new employer’s qualified retirement plan might offer investment options that better support your financial goals. It could also be easier to track your investment performance in one account versus several. It’s worthwhile to talk with an Ameriprise advisor who will compare the investments and features of both plans.

Should I transfer over my 401(k) to my new employer?

Using a direct transfer method, or 401(k) to 401(k) transfer, you can transfer your entire account balance without taxes or penalties. You can work with your new employer’s 401(k) plan administrator to select how to allocate your savings into the new investment options.

Additional considerations:

  • Transfer rules. Failure to follow the 401(k) transfer rules may result in extra penalties and taxes. For example, if you receive your funds from your previous employer’s retirement savings plan in the form of a check, mandatory 20% withholding will apply and failure to deposit the funds into a new retirement savings account within 60 days may result in tax and penalties.
  • 401(k) loans. You can’t borrow against IRAs, but you may be able to borrow money from your 401(k). However, there could be long-term implications to your retirement savings goals, so you should carefully weigh your options and discuss the pros and cons with your advisor.
Should I roll my retirement savings to a traditional or Roth IRA?

Roll your funds into an IRA

With this option, you become the owner of your retirement savings, rather than a participant in an employer qualified plan. The primary benefit of an IRA over a typical 401(k) is access to a wider range of investment options. You may also be able to consider annuities or other investments with guaranteed retirement income options.

You have several direct rollover options:

Roll your 401(k) or 403(b) to a new or existing traditional IRA

  • No taxes are due when you move the asset, and any new earnings accumulate tax deferred.

Roll your traditional 401(k) account to a new or existing Roth IRA. 

  • This is also known as a 401(k) to Roth IRA conversion
  • You will pay taxes on the pretax contributions and earnings you convert.
  • Earnings that accumulate after the rollover will be eligible for tax-free withdrawal when your Roth IRA has been open at least five years and you are at least 59½ years of age.

Roll your Roth 401(k) account to a new or existing Roth IRA. 

  • No taxes are due when the money is moved, and any new earnings accumulate tax free if conditions are met.
  • Earnings are eligible for tax-free withdrawal once the Roth IRA has been open at least five years and you reach age 59½.

Additional considerations:

  • Contribution limits don’t apply to rollover. Although IRAs typically have an annual contribution limit of $6,000, there is no limit on funds that come from a 401(k) rollover. Even if you have a large sum in your 401(k), you can deposit all of it into a traditional IRA through the rollover process.
  • Required minimum distributions may take effect. If you’re still working at age 72, you’ll be required to start taking minimum distributions from your IRA. The penalty for not taking your required minimum distribution payments is very steep. By comparison, you generally don’t have to start taking money out of your 401(k) until you retire.

Pros and cons: 401(k) vs. IRA 

401(k)
Pros
Cons

Under federal law, 401(k) plans offer protection from creditors, and funds cannot be seized if you are in bankruptcy proceedings 

You may be able to borrow money from your account, depending on your plan

Required minimum distributions don’t begin until you retire

Likely fewer investment options to choose from

Less control over your savings (your employer selects the investments you choose from)

Not all plans offer a Roth option

 

IRA
Pros
Cons

Typically, a wider variety of investment options including managed accounts, annuities and alternative investments

More control over your savings

Can choose between Roth and traditional IRAs for added flexibility

Assets rolled from a 401(k) are protected in the event of bankruptcy but protection from creditors in other circumstances varies by state

Cannot borrow money

Required minimum distributions begin at age 72

You must be 59 ½ to avoid the premature distribution penalty (unless an exception applies)

 

Is cashing out my 401(k) when I change jobs a good idea?

Cash out your 401(k)

Cash outs provide exactly what you would expect — cash. But there are many implications to consider:

  • The cash out is considered income, and you may incur local, state and federal taxes on the money that you withdraw.
  • Removing funds from your retirement account and paying taxes may mean you will need to work longer to make up the difference. You will also lose the benefit of time. 
  • You will be required to pay a 10% early withdrawal penalty on top of the taxes if you left your employer prior to the year you turned 55 and are younger than 59 ½, meaning you won’t end up with as much money as you may have planned for.

Disclosures

Do not use this information as the sole basis for investment decisions; it is not intended as advice designed to meet the particular needs of an individual investor.

Be sure you understand the potential benefits and risks of an IRA rollover before implementing. As with any decision that has tax implications, you should consult with your tax adviser prior to implementing an IRA rollover.

Diversification does not assure a profit or protect against loss.

Ameriprise Financial, Inc. and its affiliates do not offer tax or legal advice. Consumers should consult with their tax advisor or attorney regarding their specific situation.

Ameriprise Financial Services, LLC. Member FINRA and SIPC.

Retirement countdown checklist

Key strategic pre-retirement planning moves

One day you’re celebrating the first day at a new job. The next thing you know, toasts are being raised at your retirement party. With each passing year, the hands on the retirement clock spin faster. That’s why it’s wise to establish milestones — at 10 years, five years and one year out — to fine-tune investment strategies, buffer against market volatility and help ensure that life post-work is more relaxing than taxing. 

10 years out:

  1. ✔ Make a concerted effort to ramp up savings. Your window for “socking away” cash is beginning to narrow.
  2. ✔ If you have school-age kids, now’s the time to put money away for college (or pay off education loans if they have already graduated).

5 years out:

  1. ✔ Continue fine-tuning your tax strategy.
  2. ✔ If you haven’t maximum-funded your retirement plan up to federal limits, begin doing so.
  3. ✔ Pay down unsecured debt such as credit cards.

1 year out:

  1. ✔ Give some thought to which income sources you want to draw on first, second and third.
  2. ✔ Determine whether you’d like to take or delay Social Security benefits.
  3. ✔ Work with your advisor to manage risk in your portfolio.

“To maximize your retirement income, it can be beneficial — at specific milestones — to take a deeper look at your tax diversification, Social Security options and expenses,” -Marcy Keckler, vice president of Financial Advice Strategy at Ameriprise Financial.

10 Years Out

Revisit tax diversification

At this stage of planning, it’s probably becoming easier to envision your life in retirement. This is a good time to ask your advisor how you could allocate your savings across three tax-related categories to help manage your tax burden in retirement:

  • Tax-free
  • Taxable
  • Tax-deferred

“Tax-deferred vehicles like 401(k) plans are important, and by taking advantage of strategies that help spread out tax obligations—such as a Roth IRA or Roth 401(k) — you may be able to diversify your investment portfolio and gain real benefits to income in retirement,” Keckler says.  

Leveraging all three tax categories can deliver these benefits during retirement:

  • Savings: When you carefully choose the assets you will use to generate retirement income, you could pay less in taxes and as a result, keep more of your savings. This may help your savings last longer.
  • Control: Tax-deferred investments, as well as the Roth 401(k), enable you to choose how much you withdraw to fund your lifestyle–before you begin to take required minimum distributions beginning at age 72 (Roth IRAs are not subject to the required minimum distribution rule, however).
  • Flexibility: You may be able to adapt to unexpected life events. For example, to pay for unexpected medical costs you could adjust the timing or amount of withdrawals from taxable investments.

5 Years Out

Determine your Social Security strategy

Social Security is a source of income you can’t outlive, so deciding when to file for it is a critical step in retirement planning.

Although you can start collecting benefits at age 62, waiting to collect can pay off. “With each year you delay, your overall benefit increases until reaching the maximum amount at age 70,” Keckler says.

Your advisor can help you time your Social Security benefits as part of an overall cash-flow strategy, which includes selecting investments with specific maturity dates.

After choosing a start date to collect benefits, you’ll need to apply online or in-person at a local Social Security office.

1 Year Out

Monitor your expenses

In the 12-month countdown to retirement, monitor your expenses to understand your monthly costs. Keckler recommends running two sets of books — either conceptually or literally with separate credit cards and checking accounts — to quantify two types of expenses:

  • Essential needs that continue in retirement, such as housing, groceries, utilities and health care
  • Lifestyle spending, such as travel, hobbies and dining out

After a year, Keckler says “you should have a good idea of how much income you’ll need for necessities, with extra money reserved for leisure and other lifestyle expenses.”

Disclosures

Diversification can help protect against certain investment risks, but does not assure a profit or protect against loss.

Investment products are not federally or FDIC-insured, are not deposits or obligations of, or guaranteed by any financial institution, and involve investment risks including possible loss of principal and fluctuation in value.

Ameriprise Financial, Inc. and its affiliates do not offer tax or legal advice. Consumers should consult with their tax advisor or attorney regarding their specific situation.

Investment advisory products and services are made available through Ameriprise Financial Services, LLC., a registered investment adviser.

Ameriprise Financial Services, LLC. Member FINRA and SIPC.

Should I roll over to an IRA?

Should I roll over to an IRA?

Rollover evaluator

If you have multiple retirement savings accounts held in more than one place as a result of job changes or other personal circumstances, the rollover evaluator will help you understand the pros and cons of keeping your retirement savings in an employer-sponsored plan such as a 401(k) or 403(b) versus rolling it over into an IRA.

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Retirement questions—everyone has them. Our 3-Minute Confident Retirement check can help you start finding the answers. Gauge your retirement readiness and see where you stand. Then discuss your retirement journey with your Ameriprise financial advisor.

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Your privacy is important. We will not ask for any personal information.
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Background and qualification information is available at FINRA’s BrokerCheck website

Retirement planning? Here are 5 retirement mistakes to watch for

1. Putting all your (nest) eggs in one basket

A well-diversified portfolio allows the positive performance of some investments to balance out the poor performance of others. This mix of investments in different asset classes (e.g., stocks, bonds, real estate) can help keep your retirement goals on track even when one investment experiences a rocky period. Diversification is especially important as you near retirement because you have fewer years of income to rebuild savings if some investments post losses.

Your financial advisor can recommend diversification strategies based on your goals, time horizon and risk tolerance. To help you remain on course, your advisor will connect with you regularly to review your progress and your portfolio.

2. Leaving your estate plan for your heirs to figure out

You can make things much easier for your loved ones in the future by talking through estate planning today. Your advisor can work with you and your estate planning attorney to make sure that your financial wishes will be carried out when you die.

Estate planning includes:

  • Creating your will and/or trusts
  • Documenting your health care directive and power of attorney designation
  • Ensuring that your beneficiary designations are up to date for all your financial accounts, including retirement accounts, annuities and insurance
  • Keeping a list of all your online accounts and passwords in a secure place that your attorney or beneficiaries can access quickly if needed

Your advisor will provide you with personalized advice that aligns with a comprehensive estate plan, and will help bring your family members together for the sometimes-difficult discussions.

3. Waiting too long to think about health care needs

Protecting your assets means planning carefully for health care needs, including the expected and the unexpected. The first step is to make sure you have enough medical coverage, plus a long-term care strategy.

The process begins by finding out which Medicare benefits you’ll be eligible for down the road and researching options for supplemental insurance. For example, hybrid life insurance policies combine life insurance with long-term care benefits that may help you pay for the costs of a nursing home, assisted living or in-home care — expenses Medicare does not cover. In general, these hybrid policies may be more affordable than traditional long-term care policies.

4. Maintaining 401(k) accounts in multiple places

If you’ve changed jobs several times during your career, you might have multiple 401(k)s at different employers. It may make sense to consolidate some of these accounts — but before you do, discuss a few critical factors with your advisor:

  • The investment options for each account
  • Your risk tolerance and time horizon
  • The right balance between taxable and tax-deferred accounts
  • How you’ll take distributions when you need them
  • Whether to leave savings in your former employer’s qualified retirement plan if you have employer stock that has grown significantly in value

You might be able to roll your 401(k) savings into an IRA, an option that may provide you with greater control of your retirement assets and more growth potential while maintaining tax benefits. Consolidating your retirement savings can also help you and your advisor plan more strategically for retirement.

5. Paying too much in taxes

Does it make sense to pay taxes now to lessen your future tax liability? Could charitable gifts lower your taxable income? Are there tax deductions you’re not using to your advantage? Your financial advisor and tax professional can work together to help you create a tax strategy for your evolving investment choices.

 

Disclosures

Diversification can help protect against certain investment risks, but does not assure a profit or protect against loss.

Be sure you understand the potential benefits and risks of an IRA rollover before implementing. As with any decision that has tax implications, you should consult with your tax advisor prior to implementing an IRA rollover.

Ameriprise Financial, Inc. and its affiliates do not offer tax or legal advice. Consumers should consult with their tax advisor or attorney regarding their specific situation.

Ameriprise Financial cannot guarantee future financial results.

Ameriprise Financial Services, Inc. Member FINRA and SIPC.

Learn how you and your family can prepare for the future

Planning for the cost of health care in retirement

Planning ahead for health care expenses is essential. Determining how much you’ll need, however, depends on a variety of factors. Your costs will vary based on your income, age, health, location, your Medicare or supplemental plans and life expectancy.

Review the information below to learn how you and your family can prepare for the future.

How much does healthcare cost in retirement?

The financial impact of dealing with a serious illness can be devastating, and even everyday medical expenses such as prescription drug costs and routine medical services can add up over time. Planning now can help ensure you have enough money to pay for healthcare throughout retirement.

The amount of savings needed for health expenses for people eligible for Medicare, according to the Employee Benefit Research Institute (EBRI)1:

  • Medicare beneficiaries pay a share of their health expenses out-of-pocket because of program deductibles and other cost-sharing. In 2016, Medicare covered 64 percent of the cost of healthcare services for Medicare beneficiaries ages 65 and older, while out-of-pocket spending accounted for 11 percent, and private insurance covered 12 percent.
  • In 2019, a 65-year-old man with median prescription drug expenses needs $79,000 in savings and a 65-year-old woman needs $104,000 if each has a goal of having a 50 percent chance of having enough money saved to cover health care expenses in retirement. If either instead wants a 90 percent chance of having enough savings, $144,000 is needed for a man and $163,000 is needed for a woman. This analysis does not factor in the savings needed to cover long-term care expenses.
  • Savings targets increased between 2 percent and 13 percent since 2017. For a married couple both with drug expenses at the 90th percentile throughout retirement who want a 90 percent chance of having enough money saved for health care expenses in retirement by age 65, targeted savings would be $363,000 in 2019.

According to the EBRI, this information is based on dollars needed for Medigap premiums, Medicare Part B premiums, Medicare Part D premiums and out-of-pocket drug expenses for retirement at age 65 in 2019. 

 

Medicare 101

Medicare is a federal health insurance program that provides coverage for people age 65 and older, and for some disabled people under age 65. The program consists of four parts, each of which covers different health-related expenses.

What are the different parts of Medicare?

Medicare Part A
Medicare Part B
Medicare Part C
Medicare Part D
Hospital Insurance
Medical Insurance
Medicare Advantage
Prescription Drug Plan
Helps pay for in-patient care in a hospital, skilled nursing facility (following a hospital stay), some home health care and hospice care
Helps cover services like lab tests, surgeries, and doctor visits in addition to supplies like wheelchairs and walkers that are considered medically necessary to treat a disease or condition.
Allows you to participate in PPO-, PFFS, and HMO-type managed care plans
Helps pay for medications prescribed by doctors
No premium if you and your spouse paid Medicare taxes during 40 or more quarters
Optional coverage
If you are enrolled in Medicare Part A and Part B, you are eligible to switch to Part C
Pays outpatient drug care costs
 
Requires a monthly premium payment for all participants2
 
Requires a monthly premium payment for all participants3
 
 
 
Deductible and cost-sharing limits may apply. In the coverage gap stage, there are different cost sharing percentages for brand name vs. generic drugs

Several types of Part C plans are available, including:

  • Preferred Provider Organization (PPO). This plan allows you to see any doctor or specialist; however, visiting doctors outside your PPO network will involve extra costs.
  • Health Maintenance Organization (HMO). You have access to doctors in the HMO network only.
  • Private Fee-for-Service (PFFS). You can see any doctor who is willing to accept the fees and terms of the PFFS.
  • Special Needs. These plans are intended for people with certain chronic diseases or special health care needs.
  • Medical Savings Account (MSA). This plan includes a high-deductible health insurance plan and a savings account in which Medicare deposits money for you to use for health care costs.

Enrolling in Medicare

If you are already receiving Social Security, you are automatically enrolled in Medicare at age 65. If you want to enroll in Medicare but are not taking (or not eligible for) Social Security, you can enroll three months before the month of your 65th birthday and the three months after. For example, if your birthday is March 15, you can apply anytime from November through the end of June.

Medigap and Medicaid

Medicare is only one of the sources of health care coverage available to retirees. You may also be eligible for Medigap or Medicaid.

Medigap
Medicaid
Individuals enrolled in Medicare Parts A and B are also eligible to purchase Medigap coverage from insurance companies.
Individuals with limited income and resources who meet certain requirements may also be eligible to receive Medicaid.
Coverage and costs vary by state.
Medicaid is an insurance program sponsored jointly by states and the federal government.
Generally helps pay costs not covered by Medicare like deductibles, co-payments and co-insurance. 
Covers some hospital care, prescriptions, personal care services, and nursing home costs
Enroll through private insurance agencies.
Contact your state Medicaid program for additional details.

The Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA)

COBRA makes group health coverage available at group rates for employees and their dependents who would otherwise lose health benefits when they retire, leave their job or have certain other qualifying events.

Generally, employers with 20 or more employees are subject to COBRA. Coverage applies to employees, former employees and certain dependents who are or were covered under a group health plan. Benefits include medical, dental, vision, healthcare reimbursement and employee assistance programs.

Long-term care insurance and planning for long-term care

The average duration of long-term care for a retiree is estimated to be about three years. While long-term care (LTC) costs vary widely by region and type of facility, the national median cost of one month in an assisted living care facility was $4,000 in 2018 – or $48,000 per year. A private room in a nursing home costs about $8,365 a month, or a whopping $100,375 per year4. That adds up to $301,125 for three years of care — a significant expense which is expected to rise in the future. Medicare and Medigap policies offer limited, if any, coverage for LTC.

One way to plan for these costs is to purchase LTC benefit insurance. Premiums for this coverage vary by company but are generally based on your age, health status and the level of benefit you are purchasing. Make sure that the benefit on your LTC insurance policy will be enough to cover the average cost of care in your region in the future.

High-Deductible Health Plans (HDHP) and Health Savings Accounts (HSA)

A High-Deductible Health Plan (HDHP) may offer a practical way for retirees under age 65 (and therefore not yet eligible for Medicare) to deal with their medical costs. HDHP differs from other health insurance plans because its high deductible allows the policy to be offered at relatively low cost.

If an HDHP meets certain requirements, the policyholder may also open a Health Savings Account (HSA) to pay for HDHP deductibles and other qualified out-of-pocket costs. Money withdrawn from the HSA to pay for qualified expenses is tax-free as long as the expenses were incurred after the HSA was established and funded.

For 2018, the maximum annual contribution rates to an HSA are $3,450 for an individual and $6,900 for family coverage. Those who have reached age 55 but are not yet age 65 may contribute an additional $1,000 for 2018.

You can use an HSA account to pay for medical expenses as they occur, or you can accumulate funds in the account to pay for future health care expenses. Note that any distributions taken prior to age 65 that are not used for eligible medical expenses are subject to income tax and a 20 percent penalty.

Health Insurance Marketplaces

Beginning in 2014, public and private insurance marketplaces became available to purchase coverage for individuals and small businesses.

The marketplaces in each state are designed to allow you to compare coverage and cost among the policies offered by area health insurance companies. Some states run their own marketplaces, others have opted to have the federal government run them. Either way, you purchase insurance through your state marketplace.

An Ameriprise financial advisor can work with you to help build a confident retirement that anticipates health care costs and other major expenses in retirement.

Disclosures

1 Source:  “Savings Medicare Beneficiaries Need for Health Expenses in 2019: Some Couples Could Need as Much as $363,000,” EBRI Issue Brief, no. 481 (Employee Benefit Research Institute, May 16, 2019).

2 Medicaid pays the premium for those who are eligible for Medicaid benefits.

Individuals with limited income and resources may not have to pay a premium or deductible. Contact Social Security at 800.772.1213 or visit ssa.gov for more information.

4 Genworth 2018 Cost of Care Survey, conducted by CareScout®, June 2018

Before you purchase, be sure to ask your sales representative about the insurance policy’s features, benefits and fees, and whether the insurance is appropriate for you, based upon your financial situation and objectives.

Ameriprise Financial, Inc. and its affiliates do not offer tax or legal advice. Consult your tax adviser or attorney regarding your specific situation.

Ameriprise Financial Services, Inc. Member FINRA and SIPC.

6 common retirement myths

Myth #1: How much to save for retirement

When it comes to how much to save for retirement, individuals of all ages pluck an arbitrary number out of the air and call it a retirement savings goal. And, often, retirees think if they withdraw only 4% from their retirement savings each year, they’ll have enough to last a lifetime. But, there’s no one right number for either.

Your retirement plan and withdrawal strategy should be as unique as you are, taking into account your current finances, future income, goals and dreams along with many other considerations.

What’s more, your plan and withdrawal rate may change as your circumstances change. Your advisor can help you calculate — and recalculate — what retirement savings goals are right for you and your retirement savings withdrawal strategy.

Myth #2: Medicare will cover my health care needs in retirement

While Medicare can be a godsend for doctor visits and hospitalization costs, it does not cover most long-term care needs such as extended nursing home stays, assisted living and many types of home health care. In fact, the average couple age 65 with median prescription drug expenses needs to save $265,000 to have a 90% chance of having enough for health care expenses in retirement, according to the Employee Benefit Research Institute1. That’s why keeping health care costs in mind is a vital part of retirement planning. These saving strategies can help ensure you save enough money for health care costs in retirement.

Myth #3: I can’t count on Social Security

Here’s a nice surprise. According to Ameriprise Senior Economist Russell Price, Social Security is probably more secure than people think. Adjustments made to Social Security back in 1983 have done a lot to improve the program’s long-term viability, he says.

Of course, you can’t count on Social Security payments to cover all your retirement needs. But, it can make sense to estimate what your payments will be as part of your overall retirement planning and budget. And keep in mind, if you delay Social Security payments beyond your full retirement age up until age 70, you may receive significantly larger monthly checks.

Myth #4: I can work as long as I have to

It’s true that longer life spans mean more years in retirement and possibly more years working past age 65. Remember, however, that half of all early retirements are due to illness or disability. In addition, finding good paying jobs later in life can be difficult. The bottom line: Working past retirement age because you want to is a great goal, but it’s probably best not to rely too much on this income when making your retirement plans.

Myth #5: I’ll spend less and pay less in taxes in retirement

Depending on your goals, you may actually be spending more in retirement than you thought, especially if you are travelling, visiting children and grandchildren and pursuing new hobbies and activities.

Another related misconception: You’ll pay less in taxes now that you’re retired. But that assumes you’ll have less income. If you end up with the same amount of income in retirement as you had when you were working, you may not be in a lower tax bracket. Also, you may qualify for fewer tax breaks such as mortgage and college savings deductions. At the same time, tax rates may rise in the future.

Learn more about managing taxes in retirement here

Myth #6: I’ll live in the same place throughout my retirement

You may figure that by the time you retire your mortgage will be paid — or maybe it already is — and your housing will be taken care of forever. In reality, moving is often a major part of retirement. You may decide to move closer to family members or into an urban area for the culture and convenience. You may find you need an assisted living situation or an area with more transportation and maintenance services at hand.

Talk to an advisor today

An Ameriprise financial advisor will offer personalized advice and guidance to help you reach your financial goals. All to help you live confidently, both today and well into the future.

Disclosures

1Source:Savings Medicare Beneficiaries Need for Health Expenses: Some Couples Could Need as Much as $350,000, published by EBRI, January 2017, Vol. 38, No. 1.

Ameriprise Financial, Inc. and its affiliates do not offer tax or legal advice. Consult your tax adviser or attorney regarding your specific situation.

Ameriprise Financial Services, Inc. Member FINRA and SIPC.

Investing Opportunities for the New Generation

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The True Cost of Eating Out

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The Unexpected Ways that Austraila can Diversify your Portfolio

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Investment Advice

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The Importance of Tax Conscious Investing

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Time and True Top Brand Pocket Tee’s and Mom Shorts

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Donec quis diam facilisis, pretium purus eu, viverra ligula. Vestibulum leo libero, imperdiet non purus eget, efficitur sodales odio. Nunc vulputate sagittis mauris, a dignissim sapien malesuada in. Donec ut ultrices risus. Nulla nibh metus, elementum at ex eget, iaculis maximus ante. Aliquam pellentesque rutrum ante non sagittis. Pellentesque ultrices augue in dignissim cursus. Donec lorem libero, vulputate nec consectetur nec, gravida venenatis mi. Aliquam dapibus tellus ac pulvinar ullamcorper. Morbi nec ultrices velit, id pharetra ex.

Phasellus ornare libero ac eros semper consequat at non turpis. Vestibulum hendrerit sodales libero a volutpat. Integer finibus lorem quis pretium condimentum. Donec facilisis finibus turpis, et pharetra risus tempor non. Praesent maximus est vel ante porta, in hendrerit elit gravida. Integer mauris orci, bibendum congue bibendum at, tempor a mi. Proin viverra tempus est malesuada tincidunt. Morbi metus metus, euismod eget urna in, euismod aliquam lacus. Praesent vitae dui non massa commodo tempor. Morbi egestas massa nisi, sit amet interdum ex finibus a. Praesent nec ornare elit. Nam porta mauris quis dictum suscipit. Vivamus tellus risus, consequat et varius sit amet, dapibus nec lacus. Aliquam sagittis odio et rutrum congue.

Mauris ut commodo risus, ut cursus nunc. Nulla elementum vitae nisl ac rutrum. Aliquam suscipit urna vitae lectus viverra commodo. Donec facilisis nulla turpis, ac accumsan tellus varius eget. Maecenas molestie sollicitudin ipsum quis interdum. Cras sit amet metus imperdiet, pharetra lacus pulvinar, ultrices turpis. Suspendisse potenti. Morbi tellus erat, aliquam eu dictum et, mollis in ex. Vivamus pulvinar posuere diam vitae pellentesque. Vivamus volutpat nisl dignissim gravida placerat. Quisque tempor, tortor vitae faucibus commodo, tellus dui suscipit ante, quis pharetra purus justo eget augue. Suspendisse potenti. Proin ut diam ultrices, fermentum ex sodales, euismod metus. Fusce luctus congue feugiat.

In tincidunt pellentesque maximus. Proin venenatis nibh non mattis lobortis. Quisque ornare erat nibh, in accumsan diam dictum sit amet. Duis sit amet massa eu turpis accumsan tempor auctor id turpis. Vestibulum at ipsum quis ipsum lacinia iaculis id vel erat. Sed in imperdiet elit. Ut lobortis dolor sit amet odio pulvinar rhoncus. Vestibulum sed scelerisque justo, nec finibus orci. Sed efficitur, nisi quis efficitur accumsan, leo lectus pellentesque lacus, eu consectetur diam purus venenatis lacus. Proin fringilla et tortor a euismod. Donec bibendum lobortis felis non finibus. Cras eros risus, blandit vel nibh in, feugiat iaculis urna. Donec in libero blandit, egestas massa eu, pellentesque orci. Nam eleifend porttitor mauris a bibendum. Curabitur tincidunt dictum semper.

eGift Card Giveaway

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Vivamus faucibus dictum orci id eleifend. Curabitur vitae vestibulum sapien. Fusce eleifend lectus ipsum, in venenatis tellus rhoncus eget. Quisque mi dolor, tincidunt vel semper et, facilisis at lacus. Donec nec interdum est. Nullam iaculis nulla pellentesque urna ornare eleifend. Aliquam erat volutpat. Nulla facilisi.

Donec quis diam facilisis, pretium purus eu, viverra ligula. Vestibulum leo libero, imperdiet non purus eget, efficitur sodales odio. Nunc vulputate sagittis mauris, a dignissim sapien malesuada in. Donec ut ultrices risus. Nulla nibh metus, elementum at ex eget, iaculis maximus ante. Aliquam pellentesque rutrum ante non sagittis. Pellentesque ultrices augue in dignissim cursus. Donec lorem libero, vulputate nec consectetur nec, gravida venenatis mi. Aliquam dapibus tellus ac pulvinar ullamcorper. Morbi nec ultrices velit, id pharetra ex.

Phasellus ornare libero ac eros semper consequat at non turpis. Vestibulum hendrerit sodales libero a volutpat. Integer finibus lorem quis pretium condimentum. Donec facilisis finibus turpis, et pharetra risus tempor non. Praesent maximus est vel ante porta, in hendrerit elit gravida. Integer mauris orci, bibendum congue bibendum at, tempor a mi. Proin viverra tempus est malesuada tincidunt. Morbi metus metus, euismod eget urna in, euismod aliquam lacus. Praesent vitae dui non massa commodo tempor. Morbi egestas massa nisi, sit amet interdum ex finibus a. Praesent nec ornare elit. Nam porta mauris quis dictum suscipit. Vivamus tellus risus, consequat et varius sit amet, dapibus nec lacus. Aliquam sagittis odio et rutrum congue.

Mauris ut commodo risus, ut cursus nunc. Nulla elementum vitae nisl ac rutrum. Aliquam suscipit urna vitae lectus viverra commodo. Donec facilisis nulla turpis, ac accumsan tellus varius eget. Maecenas molestie sollicitudin ipsum quis interdum. Cras sit amet metus imperdiet, pharetra lacus pulvinar, ultrices turpis. Suspendisse potenti. Morbi tellus erat, aliquam eu dictum et, mollis in ex. Vivamus pulvinar posuere diam vitae pellentesque. Vivamus volutpat nisl dignissim gravida placerat. Quisque tempor, tortor vitae faucibus commodo, tellus dui suscipit ante, quis pharetra purus justo eget augue. Suspendisse potenti. Proin ut diam ultrices, fermentum ex sodales, euismod metus. Fusce luctus congue feugiat.

In tincidunt pellentesque maximus. Proin venenatis nibh non mattis lobortis. Quisque ornare erat nibh, in accumsan diam dictum sit amet. Duis sit amet massa eu turpis accumsan tempor auctor id turpis. Vestibulum at ipsum quis ipsum lacinia iaculis id vel erat. Sed in imperdiet elit. Ut lobortis dolor sit amet odio pulvinar rhoncus. Vestibulum sed scelerisque justo, nec finibus orci. Sed efficitur, nisi quis efficitur accumsan, leo lectus pellentesque lacus, eu consectetur diam purus venenatis lacus. Proin fringilla et tortor a euismod. Donec bibendum lobortis felis non finibus. Cras eros risus, blandit vel nibh in, feugiat iaculis urna. Donec in libero blandit, egestas massa eu, pellentesque orci. Nam eleifend porttitor mauris a bibendum. Curabitur tincidunt dictum semper.

Holiday Items that will Blow Your Stockings Off

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Vivamus faucibus dictum orci id eleifend. Curabitur vitae vestibulum sapien. Fusce eleifend lectus ipsum, in venenatis tellus rhoncus eget. Quisque mi dolor, tincidunt vel semper et, facilisis at lacus. Donec nec interdum est. Nullam iaculis nulla pellentesque urna ornare eleifend. Aliquam erat volutpat. Nulla facilisi.

Donec quis diam facilisis, pretium purus eu, viverra ligula. Vestibulum leo libero, imperdiet non purus eget, efficitur sodales odio. Nunc vulputate sagittis mauris, a dignissim sapien malesuada in. Donec ut ultrices risus. Nulla nibh metus, elementum at ex eget, iaculis maximus ante. Aliquam pellentesque rutrum ante non sagittis. Pellentesque ultrices augue in dignissim cursus. Donec lorem libero, vulputate nec consectetur nec, gravida venenatis mi. Aliquam dapibus tellus ac pulvinar ullamcorper. Morbi nec ultrices velit, id pharetra ex.

Phasellus ornare libero ac eros semper consequat at non turpis. Vestibulum hendrerit sodales libero a volutpat. Integer finibus lorem quis pretium condimentum. Donec facilisis finibus turpis, et pharetra risus tempor non. Praesent maximus est vel ante porta, in hendrerit elit gravida. Integer mauris orci, bibendum congue bibendum at, tempor a mi. Proin viverra tempus est malesuada tincidunt. Morbi metus metus, euismod eget urna in, euismod aliquam lacus. Praesent vitae dui non massa commodo tempor. Morbi egestas massa nisi, sit amet interdum ex finibus a. Praesent nec ornare elit. Nam porta mauris quis dictum suscipit. Vivamus tellus risus, consequat et varius sit amet, dapibus nec lacus. Aliquam sagittis odio et rutrum congue.

Mauris ut commodo risus, ut cursus nunc. Nulla elementum vitae nisl ac rutrum. Aliquam suscipit urna vitae lectus viverra commodo. Donec facilisis nulla turpis, ac accumsan tellus varius eget. Maecenas molestie sollicitudin ipsum quis interdum. Cras sit amet metus imperdiet, pharetra lacus pulvinar, ultrices turpis. Suspendisse potenti. Morbi tellus erat, aliquam eu dictum et, mollis in ex. Vivamus pulvinar posuere diam vitae pellentesque. Vivamus volutpat nisl dignissim gravida placerat. Quisque tempor, tortor vitae faucibus commodo, tellus dui suscipit ante, quis pharetra purus justo eget augue. Suspendisse potenti. Proin ut diam ultrices, fermentum ex sodales, euismod metus. Fusce luctus congue feugiat.

In tincidunt pellentesque maximus. Proin venenatis nibh non mattis lobortis. Quisque ornare erat nibh, in accumsan diam dictum sit amet. Duis sit amet massa eu turpis accumsan tempor auctor id turpis. Vestibulum at ipsum quis ipsum lacinia iaculis id vel erat. Sed in imperdiet elit. Ut lobortis dolor sit amet odio pulvinar rhoncus. Vestibulum sed scelerisque justo, nec finibus orci. Sed efficitur, nisi quis efficitur accumsan, leo lectus pellentesque lacus, eu consectetur diam purus venenatis lacus. Proin fringilla et tortor a euismod. Donec bibendum lobortis felis non finibus. Cras eros risus, blandit vel nibh in, feugiat iaculis urna. Donec in libero blandit, egestas massa eu, pellentesque orci. Nam eleifend porttitor mauris a bibendum. Curabitur tincidunt dictum semper.

The Secret in the Secret Sauce

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Vivamus faucibus dictum orci id eleifend. Curabitur vitae vestibulum sapien. Fusce eleifend lectus ipsum, in venenatis tellus rhoncus eget. Quisque mi dolor, tincidunt vel semper et, facilisis at lacus. Donec nec interdum est. Nullam iaculis nulla pellentesque urna ornare eleifend. Aliquam erat volutpat. Nulla facilisi.

Donec quis diam facilisis, pretium purus eu, viverra ligula. Vestibulum leo libero, imperdiet non purus eget, efficitur sodales odio. Nunc vulputate sagittis mauris, a dignissim sapien malesuada in. Donec ut ultrices risus. Nulla nibh metus, elementum at ex eget, iaculis maximus ante. Aliquam pellentesque rutrum ante non sagittis. Pellentesque ultrices augue in dignissim cursus. Donec lorem libero, vulputate nec consectetur nec, gravida venenatis mi. Aliquam dapibus tellus ac pulvinar ullamcorper. Morbi nec ultrices velit, id pharetra ex.

Phasellus ornare libero ac eros semper consequat at non turpis. Vestibulum hendrerit sodales libero a volutpat. Integer finibus lorem quis pretium condimentum. Donec facilisis finibus turpis, et pharetra risus tempor non. Praesent maximus est vel ante porta, in hendrerit elit gravida. Integer mauris orci, bibendum congue bibendum at, tempor a mi. Proin viverra tempus est malesuada tincidunt. Morbi metus metus, euismod eget urna in, euismod aliquam lacus. Praesent vitae dui non massa commodo tempor. Morbi egestas massa nisi, sit amet interdum ex finibus a. Praesent nec ornare elit. Nam porta mauris quis dictum suscipit. Vivamus tellus risus, consequat et varius sit amet, dapibus nec lacus. Aliquam sagittis odio et rutrum congue.

Mauris ut commodo risus, ut cursus nunc. Nulla elementum vitae nisl ac rutrum. Aliquam suscipit urna vitae lectus viverra commodo. Donec facilisis nulla turpis, ac accumsan tellus varius eget. Maecenas molestie sollicitudin ipsum quis interdum. Cras sit amet metus imperdiet, pharetra lacus pulvinar, ultrices turpis. Suspendisse potenti. Morbi tellus erat, aliquam eu dictum et, mollis in ex. Vivamus pulvinar posuere diam vitae pellentesque. Vivamus volutpat nisl dignissim gravida placerat. Quisque tempor, tortor vitae faucibus commodo, tellus dui suscipit ante, quis pharetra purus justo eget augue. Suspendisse potenti. Proin ut diam ultrices, fermentum ex sodales, euismod metus. Fusce luctus congue feugiat.

In tincidunt pellentesque maximus. Proin venenatis nibh non mattis lobortis. Quisque ornare erat nibh, in accumsan diam dictum sit amet. Duis sit amet massa eu turpis accumsan tempor auctor id turpis. Vestibulum at ipsum quis ipsum lacinia iaculis id vel erat. Sed in imperdiet elit. Ut lobortis dolor sit amet odio pulvinar rhoncus. Vestibulum sed scelerisque justo, nec finibus orci. Sed efficitur, nisi quis efficitur accumsan, leo lectus pellentesque lacus, eu consectetur diam purus venenatis lacus. Proin fringilla et tortor a euismod. Donec bibendum lobortis felis non finibus. Cras eros risus, blandit vel nibh in, feugiat iaculis urna. Donec in libero blandit, egestas massa eu, pellentesque orci. Nam eleifend porttitor mauris a bibendum. Curabitur tincidunt dictum semper.

Summer Time is THE time

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Vivamus faucibus dictum orci id eleifend. Curabitur vitae vestibulum sapien. Fusce eleifend lectus ipsum, in venenatis tellus rhoncus eget. Quisque mi dolor, tincidunt vel semper et, facilisis at lacus. Donec nec interdum est. Nullam iaculis nulla pellentesque urna ornare eleifend. Aliquam erat volutpat. Nulla facilisi.

Donec quis diam facilisis, pretium purus eu, viverra ligula. Vestibulum leo libero, imperdiet non purus eget, efficitur sodales odio. Nunc vulputate sagittis mauris, a dignissim sapien malesuada in. Donec ut ultrices risus. Nulla nibh metus, elementum at ex eget, iaculis maximus ante. Aliquam pellentesque rutrum ante non sagittis. Pellentesque ultrices augue in dignissim cursus. Donec lorem libero, vulputate nec consectetur nec, gravida venenatis mi. Aliquam dapibus tellus ac pulvinar ullamcorper. Morbi nec ultrices velit, id pharetra ex.

Phasellus ornare libero ac eros semper consequat at non turpis. Vestibulum hendrerit sodales libero a volutpat. Integer finibus lorem quis pretium condimentum. Donec facilisis finibus turpis, et pharetra risus tempor non. Praesent maximus est vel ante porta, in hendrerit elit gravida. Integer mauris orci, bibendum congue bibendum at, tempor a mi. Proin viverra tempus est malesuada tincidunt. Morbi metus metus, euismod eget urna in, euismod aliquam lacus. Praesent vitae dui non massa commodo tempor. Morbi egestas massa nisi, sit amet interdum ex finibus a. Praesent nec ornare elit. Nam porta mauris quis dictum suscipit. Vivamus tellus risus, consequat et varius sit amet, dapibus nec lacus. Aliquam sagittis odio et rutrum congue.

Mauris ut commodo risus, ut cursus nunc. Nulla elementum vitae nisl ac rutrum. Aliquam suscipit urna vitae lectus viverra commodo. Donec facilisis nulla turpis, ac accumsan tellus varius eget. Maecenas molestie sollicitudin ipsum quis interdum. Cras sit amet metus imperdiet, pharetra lacus pulvinar, ultrices turpis. Suspendisse potenti. Morbi tellus erat, aliquam eu dictum et, mollis in ex. Vivamus pulvinar posuere diam vitae pellentesque. Vivamus volutpat nisl dignissim gravida placerat. Quisque tempor, tortor vitae faucibus commodo, tellus dui suscipit ante, quis pharetra purus justo eget augue. Suspendisse potenti. Proin ut diam ultrices, fermentum ex sodales, euismod metus. Fusce luctus congue feugiat.

In tincidunt pellentesque maximus. Proin venenatis nibh non mattis lobortis. Quisque ornare erat nibh, in accumsan diam dictum sit amet. Duis sit amet massa eu turpis accumsan tempor auctor id turpis. Vestibulum at ipsum quis ipsum lacinia iaculis id vel erat. Sed in imperdiet elit. Ut lobortis dolor sit amet odio pulvinar rhoncus. Vestibulum sed scelerisque justo, nec finibus orci. Sed efficitur, nisi quis efficitur accumsan, leo lectus pellentesque lacus, eu consectetur diam purus venenatis lacus. Proin fringilla et tortor a euismod. Donec bibendum lobortis felis non finibus. Cras eros risus, blandit vel nibh in, feugiat iaculis urna. Donec in libero blandit, egestas massa eu, pellentesque orci. Nam eleifend porttitor mauris a bibendum. Curabitur tincidunt dictum semper.

Notes from the Road

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Vivamus faucibus dictum orci id eleifend. Curabitur vitae vestibulum sapien. Fusce eleifend lectus ipsum, in venenatis tellus rhoncus eget. Quisque mi dolor, tincidunt vel semper et, facilisis at lacus. Donec nec interdum est. Nullam iaculis nulla pellentesque urna ornare eleifend. Aliquam erat volutpat. Nulla facilisi.

Donec quis diam facilisis, pretium purus eu, viverra ligula. Vestibulum leo libero, imperdiet non purus eget, efficitur sodales odio. Nunc vulputate sagittis mauris, a dignissim sapien malesuada in. Donec ut ultrices risus. Nulla nibh metus, elementum at ex eget, iaculis maximus ante. Aliquam pellentesque rutrum ante non sagittis. Pellentesque ultrices augue in dignissim cursus. Donec lorem libero, vulputate nec consectetur nec, gravida venenatis mi. Aliquam dapibus tellus ac pulvinar ullamcorper. Morbi nec ultrices velit, id pharetra ex.

Phasellus ornare libero ac eros semper consequat at non turpis. Vestibulum hendrerit sodales libero a volutpat. Integer finibus lorem quis pretium condimentum. Donec facilisis finibus turpis, et pharetra risus tempor non. Praesent maximus est vel ante porta, in hendrerit elit gravida. Integer mauris orci, bibendum congue bibendum at, tempor a mi. Proin viverra tempus est malesuada tincidunt. Morbi metus metus, euismod eget urna in, euismod aliquam lacus. Praesent vitae dui non massa commodo tempor. Morbi egestas massa nisi, sit amet interdum ex finibus a. Praesent nec ornare elit. Nam porta mauris quis dictum suscipit. Vivamus tellus risus, consequat et varius sit amet, dapibus nec lacus. Aliquam sagittis odio et rutrum congue.

Mauris ut commodo risus, ut cursus nunc. Nulla elementum vitae nisl ac rutrum. Aliquam suscipit urna vitae lectus viverra commodo. Donec facilisis nulla turpis, ac accumsan tellus varius eget. Maecenas molestie sollicitudin ipsum quis interdum. Cras sit amet metus imperdiet, pharetra lacus pulvinar, ultrices turpis. Suspendisse potenti. Morbi tellus erat, aliquam eu dictum et, mollis in ex. Vivamus pulvinar posuere diam vitae pellentesque. Vivamus volutpat nisl dignissim gravida placerat. Quisque tempor, tortor vitae faucibus commodo, tellus dui suscipit ante, quis pharetra purus justo eget augue. Suspendisse potenti. Proin ut diam ultrices, fermentum ex sodales, euismod metus. Fusce luctus congue feugiat.

In tincidunt pellentesque maximus. Proin venenatis nibh non mattis lobortis. Quisque ornare erat nibh, in accumsan diam dictum sit amet. Duis sit amet massa eu turpis accumsan tempor auctor id turpis. Vestibulum at ipsum quis ipsum lacinia iaculis id vel erat. Sed in imperdiet elit. Ut lobortis dolor sit amet odio pulvinar rhoncus. Vestibulum sed scelerisque justo, nec finibus orci. Sed efficitur, nisi quis efficitur accumsan, leo lectus pellentesque lacus, eu consectetur diam purus venenatis lacus. Proin fringilla et tortor a euismod. Donec bibendum lobortis felis non finibus. Cras eros risus, blandit vel nibh in, feugiat iaculis urna. Donec in libero blandit, egestas massa eu, pellentesque orci. Nam eleifend porttitor mauris a bibendum. Curabitur tincidunt dictum semper.

A Walk Among Giants in the Sequoias

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Vivamus faucibus dictum orci id eleifend. Curabitur vitae vestibulum sapien. Fusce eleifend lectus ipsum, in venenatis tellus rhoncus eget. Quisque mi dolor, tincidunt vel semper et, facilisis at lacus. Donec nec interdum est. Nullam iaculis nulla pellentesque urna ornare eleifend. Aliquam erat volutpat. Nulla facilisi.

Donec quis diam facilisis, pretium purus eu, viverra ligula. Vestibulum leo libero, imperdiet non purus eget, efficitur sodales odio. Nunc vulputate sagittis mauris, a dignissim sapien malesuada in. Donec ut ultrices risus. Nulla nibh metus, elementum at ex eget, iaculis maximus ante. Aliquam pellentesque rutrum ante non sagittis. Pellentesque ultrices augue in dignissim cursus. Donec lorem libero, vulputate nec consectetur nec, gravida venenatis mi. Aliquam dapibus tellus ac pulvinar ullamcorper. Morbi nec ultrices velit, id pharetra ex.

Phasellus ornare libero ac eros semper consequat at non turpis. Vestibulum hendrerit sodales libero a volutpat. Integer finibus lorem quis pretium condimentum. Donec facilisis finibus turpis, et pharetra risus tempor non. Praesent maximus est vel ante porta, in hendrerit elit gravida. Integer mauris orci, bibendum congue bibendum at, tempor a mi. Proin viverra tempus est malesuada tincidunt. Morbi metus metus, euismod eget urna in, euismod aliquam lacus. Praesent vitae dui non massa commodo tempor. Morbi egestas massa nisi, sit amet interdum ex finibus a. Praesent nec ornare elit. Nam porta mauris quis dictum suscipit. Vivamus tellus risus, consequat et varius sit amet, dapibus nec lacus. Aliquam sagittis odio et rutrum congue.

Mauris ut commodo risus, ut cursus nunc. Nulla elementum vitae nisl ac rutrum. Aliquam suscipit urna vitae lectus viverra commodo. Donec facilisis nulla turpis, ac accumsan tellus varius eget. Maecenas molestie sollicitudin ipsum quis interdum. Cras sit amet metus imperdiet, pharetra lacus pulvinar, ultrices turpis. Suspendisse potenti. Morbi tellus erat, aliquam eu dictum et, mollis in ex. Vivamus pulvinar posuere diam vitae pellentesque. Vivamus volutpat nisl dignissim gravida placerat. Quisque tempor, tortor vitae faucibus commodo, tellus dui suscipit ante, quis pharetra purus justo eget augue. Suspendisse potenti. Proin ut diam ultrices, fermentum ex sodales, euismod metus. Fusce luctus congue feugiat.

In tincidunt pellentesque maximus. Proin venenatis nibh non mattis lobortis. Quisque ornare erat nibh, in accumsan diam dictum sit amet. Duis sit amet massa eu turpis accumsan tempor auctor id turpis. Vestibulum at ipsum quis ipsum lacinia iaculis id vel erat. Sed in imperdiet elit. Ut lobortis dolor sit amet odio pulvinar rhoncus. Vestibulum sed scelerisque justo, nec finibus orci. Sed efficitur, nisi quis efficitur accumsan, leo lectus pellentesque lacus, eu consectetur diam purus venenatis lacus. Proin fringilla et tortor a euismod. Donec bibendum lobortis felis non finibus. Cras eros risus, blandit vel nibh in, feugiat iaculis urna. Donec in libero blandit, egestas massa eu, pellentesque orci. Nam eleifend porttitor mauris a bibendum. Curabitur tincidunt dictum semper.

The Wandering Pearl

 

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Vivamus faucibus dictum orci id eleifend. Curabitur vitae vestibulum sapien. Fusce eleifend lectus ipsum, in venenatis tellus rhoncus eget. Quisque mi dolor, tincidunt vel semper et, facilisis at lacus. Donec nec interdum est. Nullam iaculis nulla pellentesque urna ornare eleifend. Aliquam erat volutpat. Nulla facilisi.

Donec quis diam facilisis, pretium purus eu, viverra ligula. Vestibulum leo libero, imperdiet non purus eget, efficitur sodales odio. Nunc vulputate sagittis mauris, a dignissim sapien malesuada in. Donec ut ultrices risus. Nulla nibh metus, elementum at ex eget, iaculis maximus ante. Aliquam pellentesque rutrum ante non sagittis. Pellentesque ultrices augue in dignissim cursus. Donec lorem libero, vulputate nec consectetur nec, gravida venenatis mi. Aliquam dapibus tellus ac pulvinar ullamcorper. Morbi nec ultrices velit, id pharetra ex.

Phasellus ornare libero ac eros semper consequat at non turpis. Vestibulum hendrerit sodales libero a volutpat. Integer finibus lorem quis pretium condimentum. Donec facilisis finibus turpis, et pharetra risus tempor non. Praesent maximus est vel ante porta, in hendrerit elit gravida. Integer mauris orci, bibendum congue bibendum at, tempor a mi. Proin viverra tempus est malesuada tincidunt. Morbi metus metus, euismod eget urna in, euismod aliquam lacus. Praesent vitae dui non massa commodo tempor. Morbi egestas massa nisi, sit amet interdum ex finibus a. Praesent nec ornare elit. Nam porta mauris quis dictum suscipit. Vivamus tellus risus, consequat et varius sit amet, dapibus nec lacus. Aliquam sagittis odio et rutrum congue.

Mauris ut commodo risus, ut cursus nunc. Nulla elementum vitae nisl ac rutrum. Aliquam suscipit urna vitae lectus viverra commodo. Donec facilisis nulla turpis, ac accumsan tellus varius eget. Maecenas molestie sollicitudin ipsum quis interdum. Cras sit amet metus imperdiet, pharetra lacus pulvinar, ultrices turpis. Suspendisse potenti. Morbi tellus erat, aliquam eu dictum et, mollis in ex. Vivamus pulvinar posuere diam vitae pellentesque. Vivamus volutpat nisl dignissim gravida placerat. Quisque tempor, tortor vitae faucibus commodo, tellus dui suscipit ante, quis pharetra purus justo eget augue. Suspendisse potenti. Proin ut diam ultrices, fermentum ex sodales, euismod metus. Fusce luctus congue feugiat.

In tincidunt pellentesque maximus. Proin venenatis nibh non mattis lobortis. Quisque ornare erat nibh, in accumsan diam dictum sit amet. Duis sit amet massa eu turpis accumsan tempor auctor id turpis. Vestibulum at ipsum quis ipsum lacinia iaculis id vel erat. Sed in imperdiet elit. Ut lobortis dolor sit amet odio pulvinar rhoncus. Vestibulum sed scelerisque justo, nec finibus orci. Sed efficitur, nisi quis efficitur accumsan, leo lectus pellentesque lacus, eu consectetur diam purus venenatis lacus. Proin fringilla et tortor a euismod. Donec bibendum lobortis felis non finibus. Cras eros risus, blandit vel nibh in, feugiat iaculis urna. Donec in libero blandit, egestas massa eu, pellentesque orci. Nam eleifend porttitor mauris a bibendum. Curabitur tincidunt dictum semper.

Everywhere we Roam

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Vivamus faucibus dictum orci id eleifend. Curabitur vitae vestibulum sapien. Fusce eleifend lectus ipsum, in venenatis tellus rhoncus eget. Quisque mi dolor, tincidunt vel semper et, facilisis at lacus. Donec nec interdum est. Nullam iaculis nulla pellentesque urna ornare eleifend. Aliquam erat volutpat. Nulla facilisi.

Donec quis diam facilisis, pretium purus eu, viverra ligula. Vestibulum leo libero, imperdiet non purus eget, efficitur sodales odio. Nunc vulputate sagittis mauris, a dignissim sapien malesuada in. Donec ut ultrices risus. Nulla nibh metus, elementum at ex eget, iaculis maximus ante. Aliquam pellentesque rutrum ante non sagittis. Pellentesque ultrices augue in dignissim cursus. Donec lorem libero, vulputate nec consectetur nec, gravida venenatis mi. Aliquam dapibus tellus ac pulvinar ullamcorper. Morbi nec ultrices velit, id pharetra ex.

Phasellus ornare libero ac eros semper consequat at non turpis. Vestibulum hendrerit sodales libero a volutpat. Integer finibus lorem quis pretium condimentum. Donec facilisis finibus turpis, et pharetra risus tempor non. Praesent maximus est vel ante porta, in hendrerit elit gravida. Integer mauris orci, bibendum congue bibendum at, tempor a mi. Proin viverra tempus est malesuada tincidunt. Morbi metus metus, euismod eget urna in, euismod aliquam lacus. Praesent vitae dui non massa commodo tempor. Morbi egestas massa nisi, sit amet interdum ex finibus a. Praesent nec ornare elit. Nam porta mauris quis dictum suscipit. Vivamus tellus risus, consequat et varius sit amet, dapibus nec lacus. Aliquam sagittis odio et rutrum congue.

Mauris ut commodo risus, ut cursus nunc. Nulla elementum vitae nisl ac rutrum. Aliquam suscipit urna vitae lectus viverra commodo. Donec facilisis nulla turpis, ac accumsan tellus varius eget. Maecenas molestie sollicitudin ipsum quis interdum. Cras sit amet metus imperdiet, pharetra lacus pulvinar, ultrices turpis. Suspendisse potenti. Morbi tellus erat, aliquam eu dictum et, mollis in ex. Vivamus pulvinar posuere diam vitae pellentesque. Vivamus volutpat nisl dignissim gravida placerat. Quisque tempor, tortor vitae faucibus commodo, tellus dui suscipit ante, quis pharetra purus justo eget augue. Suspendisse potenti. Proin ut diam ultrices, fermentum ex sodales, euismod metus. Fusce luctus congue feugiat.

In tincidunt pellentesque maximus. Proin venenatis nibh non mattis lobortis. Quisque ornare erat nibh, in accumsan diam dictum sit amet. Duis sit amet massa eu turpis accumsan tempor auctor id turpis. Vestibulum at ipsum quis ipsum lacinia iaculis id vel erat. Sed in imperdiet elit. Ut lobortis dolor sit amet odio pulvinar rhoncus. Vestibulum sed scelerisque justo, nec finibus orci. Sed efficitur, nisi quis efficitur accumsan, leo lectus pellentesque lacus, eu consectetur diam purus venenatis lacus. Proin fringilla et tortor a euismod. Donec bibendum lobortis felis non finibus. Cras eros risus, blandit vel nibh in, feugiat iaculis urna. Donec in libero blandit, egestas massa eu, pellentesque orci. Nam eleifend porttitor mauris a bibendum. Curabitur tincidunt dictum semper.

Lost on Purpose

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Vivamus faucibus dictum orci id eleifend. Curabitur vitae vestibulum sapien. Fusce eleifend lectus ipsum, in venenatis tellus rhoncus eget. Quisque mi dolor, tincidunt vel semper et, facilisis at lacus. Donec nec interdum est. Nullam iaculis nulla pellentesque urna ornare eleifend. Aliquam erat volutpat. Nulla facilisi.

Donec quis diam facilisis, pretium purus eu, viverra ligula. Vestibulum leo libero, imperdiet non purus eget, efficitur sodales odio. Nunc vulputate sagittis mauris, a dignissim sapien malesuada in. Donec ut ultrices risus. Nulla nibh metus, elementum at ex eget, iaculis maximus ante. Aliquam pellentesque rutrum ante non sagittis. Pellentesque ultrices augue in dignissim cursus. Donec lorem libero, vulputate nec consectetur nec, gravida venenatis mi. Aliquam dapibus tellus ac pulvinar ullamcorper. Morbi nec ultrices velit, id pharetra ex.

Phasellus ornare libero ac eros semper consequat at non turpis. Vestibulum hendrerit sodales libero a volutpat. Integer finibus lorem quis pretium condimentum. Donec facilisis finibus turpis, et pharetra risus tempor non. Praesent maximus est vel ante porta, in hendrerit elit gravida. Integer mauris orci, bibendum congue bibendum at, tempor a mi. Proin viverra tempus est malesuada tincidunt. Morbi metus metus, euismod eget urna in, euismod aliquam lacus. Praesent vitae dui non massa commodo tempor. Morbi egestas massa nisi, sit amet interdum ex finibus a. Praesent nec ornare elit. Nam porta mauris quis dictum suscipit. Vivamus tellus risus, consequat et varius sit amet, dapibus nec lacus. Aliquam sagittis odio et rutrum congue.

Mauris ut commodo risus, ut cursus nunc. Nulla elementum vitae nisl ac rutrum. Aliquam suscipit urna vitae lectus viverra commodo. Donec facilisis nulla turpis, ac accumsan tellus varius eget. Maecenas molestie sollicitudin ipsum quis interdum. Cras sit amet metus imperdiet, pharetra lacus pulvinar, ultrices turpis. Suspendisse potenti. Morbi tellus erat, aliquam eu dictum et, mollis in ex. Vivamus pulvinar posuere diam vitae pellentesque. Vivamus volutpat nisl dignissim gravida placerat. Quisque tempor, tortor vitae faucibus commodo, tellus dui suscipit ante, quis pharetra purus justo eget augue. Suspendisse potenti. Proin ut diam ultrices, fermentum ex sodales, euismod metus. Fusce luctus congue feugiat.

In tincidunt pellentesque maximus. Proin venenatis nibh non mattis lobortis. Quisque ornare erat nibh, in accumsan diam dictum sit amet. Duis sit amet massa eu turpis accumsan tempor auctor id turpis. Vestibulum at ipsum quis ipsum lacinia iaculis id vel erat. Sed in imperdiet elit. Ut lobortis dolor sit amet odio pulvinar rhoncus. Vestibulum sed scelerisque justo, nec finibus orci. Sed efficitur, nisi quis efficitur accumsan, leo lectus pellentesque lacus, eu consectetur diam purus venenatis lacus. Proin fringilla et tortor a euismod. Donec bibendum lobortis felis non finibus. Cras eros risus, blandit vel nibh in, feugiat iaculis urna. Donec in libero blandit, egestas massa eu, pellentesque orci. Nam eleifend porttitor mauris a bibendum. Curabitur tincidunt dictum semper.

FB/Instagram a Window to the World

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Vivamus faucibus dictum orci id eleifend. Curabitur vitae vestibulum sapien. Fusce eleifend lectus ipsum, in venenatis tellus rhoncus eget. Quisque mi dolor, tincidunt vel semper et, facilisis at lacus. Donec nec interdum est. Nullam iaculis nulla pellentesque urna ornare eleifend. Aliquam erat volutpat. Nulla facilisi.

Donec quis diam facilisis, pretium purus eu, viverra ligula. Vestibulum leo libero, imperdiet non purus eget, efficitur sodales odio. Nunc vulputate sagittis mauris, a dignissim sapien malesuada in. Donec ut ultrices risus. Nulla nibh metus, elementum at ex eget, iaculis maximus ante. Aliquam pellentesque rutrum ante non sagittis. Pellentesque ultrices augue in dignissim cursus. Donec lorem libero, vulputate nec consectetur nec, gravida venenatis mi. Aliquam dapibus tellus ac pulvinar ullamcorper. Morbi nec ultrices velit, id pharetra ex.

Phasellus ornare libero ac eros semper consequat at non turpis. Vestibulum hendrerit sodales libero a volutpat. Integer finibus lorem quis pretium condimentum. Donec facilisis finibus turpis, et pharetra risus tempor non. Praesent maximus est vel ante porta, in hendrerit elit gravida. Integer mauris orci, bibendum congue bibendum at, tempor a mi. Proin viverra tempus est malesuada tincidunt. Morbi metus metus, euismod eget urna in, euismod aliquam lacus. Praesent vitae dui non massa commodo tempor. Morbi egestas massa nisi, sit amet interdum ex finibus a. Praesent nec ornare elit. Nam porta mauris quis dictum suscipit. Vivamus tellus risus, consequat et varius sit amet, dapibus nec lacus. Aliquam sagittis odio et rutrum congue.

Mauris ut commodo risus, ut cursus nunc. Nulla elementum vitae nisl ac rutrum. Aliquam suscipit urna vitae lectus viverra commodo. Donec facilisis nulla turpis, ac accumsan tellus varius eget. Maecenas molestie sollicitudin ipsum quis interdum. Cras sit amet metus imperdiet, pharetra lacus pulvinar, ultrices turpis. Suspendisse potenti. Morbi tellus erat, aliquam eu dictum et, mollis in ex. Vivamus pulvinar posuere diam vitae pellentesque. Vivamus volutpat nisl dignissim gravida placerat. Quisque tempor, tortor vitae faucibus commodo, tellus dui suscipit ante, quis pharetra purus justo eget augue. Suspendisse potenti. Proin ut diam ultrices, fermentum ex sodales, euismod metus. Fusce luctus congue feugiat.

In tincidunt pellentesque maximus. Proin venenatis nibh non mattis lobortis. Quisque ornare erat nibh, in accumsan diam dictum sit amet. Duis sit amet massa eu turpis accumsan tempor auctor id turpis. Vestibulum at ipsum quis ipsum lacinia iaculis id vel erat. Sed in imperdiet elit. Ut lobortis dolor sit amet odio pulvinar rhoncus. Vestibulum sed scelerisque justo, nec finibus orci. Sed efficitur, nisi quis efficitur accumsan, leo lectus pellentesque lacus, eu consectetur diam purus venenatis lacus. Proin fringilla et tortor a euismod. Donec bibendum lobortis felis non finibus. Cras eros risus, blandit vel nibh in, feugiat iaculis urna. Donec in libero blandit, egestas massa eu, pellentesque orci. Nam eleifend porttitor mauris a bibendum. Curabitur tincidunt dictum semper.

New Pilot Episode

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Vivamus faucibus dictum orci id eleifend. Curabitur vitae vestibulum sapien. Fusce eleifend lectus ipsum, in venenatis tellus rhoncus eget. Quisque mi dolor, tincidunt vel semper et, facilisis at lacus. Donec nec interdum est. Nullam iaculis nulla pellentesque urna ornare eleifend. Aliquam erat volutpat. Nulla facilisi.

Donec quis diam facilisis, pretium purus eu, viverra ligula. Vestibulum leo libero, imperdiet non purus eget, efficitur sodales odio. Nunc vulputate sagittis mauris, a dignissim sapien malesuada in. Donec ut ultrices risus. Nulla nibh metus, elementum at ex eget, iaculis maximus ante. Aliquam pellentesque rutrum ante non sagittis. Pellentesque ultrices augue in dignissim cursus. Donec lorem libero, vulputate nec consectetur nec, gravida venenatis mi. Aliquam dapibus tellus ac pulvinar ullamcorper. Morbi nec ultrices velit, id pharetra ex.

Phasellus ornare libero ac eros semper consequat at non turpis. Vestibulum hendrerit sodales libero a volutpat. Integer finibus lorem quis pretium condimentum. Donec facilisis finibus turpis, et pharetra risus tempor non. Praesent maximus est vel ante porta, in hendrerit elit gravida. Integer mauris orci, bibendum congue bibendum at, tempor a mi. Proin viverra tempus est malesuada tincidunt. Morbi metus metus, euismod eget urna in, euismod aliquam lacus. Praesent vitae dui non massa commodo tempor. Morbi egestas massa nisi, sit amet interdum ex finibus a. Praesent nec ornare elit. Nam porta mauris quis dictum suscipit. Vivamus tellus risus, consequat et varius sit amet, dapibus nec lacus. Aliquam sagittis odio et rutrum congue.

Mauris ut commodo risus, ut cursus nunc. Nulla elementum vitae nisl ac rutrum. Aliquam suscipit urna vitae lectus viverra commodo. Donec facilisis nulla turpis, ac accumsan tellus varius eget. Maecenas molestie sollicitudin ipsum quis interdum. Cras sit amet metus imperdiet, pharetra lacus pulvinar, ultrices turpis. Suspendisse potenti. Morbi tellus erat, aliquam eu dictum et, mollis in ex. Vivamus pulvinar posuere diam vitae pellentesque. Vivamus volutpat nisl dignissim gravida placerat. Quisque tempor, tortor vitae faucibus commodo, tellus dui suscipit ante, quis pharetra purus justo eget augue. Suspendisse potenti. Proin ut diam ultrices, fermentum ex sodales, euismod metus. Fusce luctus congue feugiat.

In tincidunt pellentesque maximus. Proin venenatis nibh non mattis lobortis. Quisque ornare erat nibh, in accumsan diam dictum sit amet. Duis sit amet massa eu turpis accumsan tempor auctor id turpis. Vestibulum at ipsum quis ipsum lacinia iaculis id vel erat. Sed in imperdiet elit. Ut lobortis dolor sit amet odio pulvinar rhoncus. Vestibulum sed scelerisque justo, nec finibus orci. Sed efficitur, nisi quis efficitur accumsan, leo lectus pellentesque lacus, eu consectetur diam purus venenatis lacus. Proin fringilla et tortor a euismod. Donec bibendum lobortis felis non finibus. Cras eros risus, blandit vel nibh in, feugiat iaculis urna. Donec in libero blandit, egestas massa eu, pellentesque orci. Nam eleifend porttitor mauris a bibendum. Curabitur tincidunt dictum semper.

logo’s and your Business

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Vivamus faucibus dictum orci id eleifend. Curabitur vitae vestibulum sapien. Fusce eleifend lectus ipsum, in venenatis tellus rhoncus eget. Quisque mi dolor, tincidunt vel semper et, facilisis at lacus. Donec nec interdum est. Nullam iaculis nulla pellentesque urna ornare eleifend. Aliquam erat volutpat. Nulla facilisi.

Donec quis diam facilisis, pretium purus eu, viverra ligula. Vestibulum leo libero, imperdiet non purus eget, efficitur sodales odio. Nunc vulputate sagittis mauris, a dignissim sapien malesuada in. Donec ut ultrices risus. Nulla nibh metus, elementum at ex eget, iaculis maximus ante. Aliquam pellentesque rutrum ante non sagittis. Pellentesque ultrices augue in dignissim cursus. Donec lorem libero, vulputate nec consectetur nec, gravida venenatis mi. Aliquam dapibus tellus ac pulvinar ullamcorper. Morbi nec ultrices velit, id pharetra ex.

Phasellus ornare libero ac eros semper consequat at non turpis. Vestibulum hendrerit sodales libero a volutpat. Integer finibus lorem quis pretium condimentum. Donec facilisis finibus turpis, et pharetra risus tempor non. Praesent maximus est vel ante porta, in hendrerit elit gravida. Integer mauris orci, bibendum congue bibendum at, tempor a mi. Proin viverra tempus est malesuada tincidunt. Morbi metus metus, euismod eget urna in, euismod aliquam lacus. Praesent vitae dui non massa commodo tempor. Morbi egestas massa nisi, sit amet interdum ex finibus a. Praesent nec ornare elit. Nam porta mauris quis dictum suscipit. Vivamus tellus risus, consequat et varius sit amet, dapibus nec lacus. Aliquam sagittis odio et rutrum congue.

Mauris ut commodo risus, ut cursus nunc. Nulla elementum vitae nisl ac rutrum. Aliquam suscipit urna vitae lectus viverra commodo. Donec facilisis nulla turpis, ac accumsan tellus varius eget. Maecenas molestie sollicitudin ipsum quis interdum. Cras sit amet metus imperdiet, pharetra lacus pulvinar, ultrices turpis. Suspendisse potenti. Morbi tellus erat, aliquam eu dictum et, mollis in ex. Vivamus pulvinar posuere diam vitae pellentesque. Vivamus volutpat nisl dignissim gravida placerat. Quisque tempor, tortor vitae faucibus commodo, tellus dui suscipit ante, quis pharetra purus justo eget augue. Suspendisse potenti. Proin ut diam ultrices, fermentum ex sodales, euismod metus. Fusce luctus congue feugiat.

In tincidunt pellentesque maximus. Proin venenatis nibh non mattis lobortis. Quisque ornare erat nibh, in accumsan diam dictum sit amet. Duis sit amet massa eu turpis accumsan tempor auctor id turpis. Vestibulum at ipsum quis ipsum lacinia iaculis id vel erat. Sed in imperdiet elit. Ut lobortis dolor sit amet odio pulvinar rhoncus. Vestibulum sed scelerisque justo, nec finibus orci. Sed efficitur, nisi quis efficitur accumsan, leo lectus pellentesque lacus, eu consectetur diam purus venenatis lacus. Proin fringilla et tortor a euismod. Donec bibendum lobortis felis non finibus. Cras eros risus, blandit vel nibh in, feugiat iaculis urna. Donec in libero blandit, egestas massa eu, pellentesque orci. Nam eleifend porttitor mauris a bibendum. Curabitur tincidunt dictum semper.

Convince and Convert

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Vivamus faucibus dictum orci id eleifend. Curabitur vitae vestibulum sapien. Fusce eleifend lectus ipsum, in venenatis tellus rhoncus eget. Quisque mi dolor, tincidunt vel semper et, facilisis at lacus. Donec nec interdum est. Nullam iaculis nulla pellentesque urna ornare eleifend. Aliquam erat volutpat. Nulla facilisi.

Donec quis diam facilisis, pretium purus eu, viverra ligula. Vestibulum leo libero, imperdiet non purus eget, efficitur sodales odio. Nunc vulputate sagittis mauris, a dignissim sapien malesuada in. Donec ut ultrices risus. Nulla nibh metus, elementum at ex eget, iaculis maximus ante. Aliquam pellentesque rutrum ante non sagittis. Pellentesque ultrices augue in dignissim cursus. Donec lorem libero, vulputate nec consectetur nec, gravida venenatis mi. Aliquam dapibus tellus ac pulvinar ullamcorper. Morbi nec ultrices velit, id pharetra ex.

Phasellus ornare libero ac eros semper consequat at non turpis. Vestibulum hendrerit sodales libero a volutpat. Integer finibus lorem quis pretium condimentum. Donec facilisis finibus turpis, et pharetra risus tempor non. Praesent maximus est vel ante porta, in hendrerit elit gravida. Integer mauris orci, bibendum congue bibendum at, tempor a mi. Proin viverra tempus est malesuada tincidunt. Morbi metus metus, euismod eget urna in, euismod aliquam lacus. Praesent vitae dui non massa commodo tempor. Morbi egestas massa nisi, sit amet interdum ex finibus a. Praesent nec ornare elit. Nam porta mauris quis dictum suscipit. Vivamus tellus risus, consequat et varius sit amet, dapibus nec lacus. Aliquam sagittis odio et rutrum congue.

Mauris ut commodo risus, ut cursus nunc. Nulla elementum vitae nisl ac rutrum. Aliquam suscipit urna vitae lectus viverra commodo. Donec facilisis nulla turpis, ac accumsan tellus varius eget. Maecenas molestie sollicitudin ipsum quis interdum. Cras sit amet metus imperdiet, pharetra lacus pulvinar, ultrices turpis. Suspendisse potenti. Morbi tellus erat, aliquam eu dictum et, mollis in ex. Vivamus pulvinar posuere diam vitae pellentesque. Vivamus volutpat nisl dignissim gravida placerat. Quisque tempor, tortor vitae faucibus commodo, tellus dui suscipit ante, quis pharetra purus justo eget augue. Suspendisse potenti. Proin ut diam ultrices, fermentum ex sodales, euismod metus. Fusce luctus congue feugiat.

In tincidunt pellentesque maximus. Proin venenatis nibh non mattis lobortis. Quisque ornare erat nibh, in accumsan diam dictum sit amet. Duis sit amet massa eu turpis accumsan tempor auctor id turpis. Vestibulum at ipsum quis ipsum lacinia iaculis id vel erat. Sed in imperdiet elit. Ut lobortis dolor sit amet odio pulvinar rhoncus. Vestibulum sed scelerisque justo, nec finibus orci. Sed efficitur, nisi quis efficitur accumsan, leo lectus pellentesque lacus, eu consectetur diam purus venenatis lacus. Proin fringilla et tortor a euismod. Donec bibendum lobortis felis non finibus. Cras eros risus, blandit vel nibh in, feugiat iaculis urna. Donec in libero blandit, egestas massa eu, pellentesque orci. Nam eleifend porttitor mauris a bibendum. Curabitur tincidunt dictum semper.

Web Strategy by Oscar Olejo

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Make your retirement savings last

You’ve worked hard and saved for the future — now you need to make sure your savings last the rest of your life. By understanding the risks you face, you can make smart choices about how much to withdraw and how to handle unexpected financial challenges.

The financial implications of a long life

According to the National Center for Health Statistics, people today can expect to live more than 30 years longer than they did a century ago. Individuals who reached age 65 in 1950 could expect to live an average of 14 years more, to age 79; now a 65-year-old might expect to live for roughly an additional 19 years.1

A long life can be a wonderful thing. But it does add a challenge to retirement planning prompting you to ask yourself: how long will my savings last? 

Here are some strategies to consider that may help your savings last longer for you.

Ways to save for retirement

Determine a sustainable retirement withdrawal rate

A smart, conservative withdrawal plan can help. Working with a financial advisor to decide how much to withdraw, which accounts to take the money from, and when to do so can help secure a comfortable retirement for you and your spouse or partner, and help ensure your retirement income lasts as long as possible.

How much can you afford to withdraw from your savings each year will depend on your individual needs. Many retirees have an unrealistic idea of the amounts they can withdraw annually without running out of money. Aggressive withdrawals are generally unsustainable — especially when the markets are down.

Plan for health care expenses in retirement

The cost of health care in America is rising astronomically. Combined with longer lives and less insurance coverage, this presents a potentially huge expense for retirees. What can you do?

A good approach is to factor health care costs into your retirement expenses. The average couple age 65 with median prescription drug expenses needs to save $265,000 to have a 90% chance of having enough for health care expenses in retirement, according to the Employee Benefit Research Institute.2

By accounting for these expenses in your retirement plan, understanding your options for Medicare or other health care solutions, and/or securing long-term care insurance, you may be able to avoid tapping your other savings.

Prepare for the unexpected

While no one can predict the future, you can prepare by taking a few simple steps. For example, always keep enough cash to last six months easily accessible. With this cash reserve available, you may not have to deplete your main savings in the event of an emergency, or be required to liquidate longer-term investments.

Your Ameriprise financial advisor can help you develop a plan for making your savings last as long as possible, protecting your assets from health care expenses and preparing you for unexpected events with easily accessible savings accounts. To learn more, find an Ameriprise financial advisor in your area.

Disclosures

1 National Center for Health Statistics, Health Status and Determinants, Mortality, 2015.
2 Source: Savings Medicare Beneficiaries Need for Health Expenses: Some Couples Could Need as Much as $350,000, published by EBRI, January 31, 2017, Vol. 38, No. 1.
Ameriprise Financial Services, Inc. Member FINRA and SIPC.

Managing your taxes in retirement

Your tax situation can change rapidly throughout retirement. Applying appropriate tax strategies can help you learn how to reduce the taxes you owe so you keep more of the money you’ve earned and invested.

Knowing what is and isn’t taxable

Understanding which sources of retirement income are taxable and which are non-taxable can be tricky. These guidelines can help you get started by looking at some typical retirement income sources. When evaluating your options, be sure to consider all sources of income, and work with your advisor and tax professional to determine what makes sense for your unique situation.

Taxable
Non-taxable
Social Security – up to 85% of your Social Security benefits may be taxable depending on the amount of additional income you have from other sources
Social Security – if your combined income is below certain limits

Withdrawals of earnings and pre-tax contributions from IRAs, 401(k)s*, and other retirement plans

*Special rules apply to appreciated employer securities in qualified retirement plans. 

Withdrawals of after-tax contributions from 401(k)s, IRAs and other retirement savings plans (whether withdrawals are considered to be from after-tax or pre-tax contributions are based on the law and will depend on ordering rules applicable to the account)
Pension payments
Qualifying withdrawals from Roth 401(k)s, Roth IRAs, and Roth 403(b)s

To help you determine what, if any, part of your Social Security is taxable, the IRS has created a series of worksheets found in IRS Publication 915 (Social Security and Equivalent Railroad Retirement Benefits). The calculation is part of filling out your 1040 and is found in the Form 1040 instructions.

Minimizing taxes when possible

Work with your tax advisor to help reduce the amount of taxes you may pay during retirement by considering the following:

  • Possible advantages of deductions available to you.
  • If you itemize, use charitable gifts to potentially lower your taxable income.
  • Realize long-term capital gains if your income falls below the threshold for your filing status, so that they will be taxed at 0%.
  • If you’re in a higher tax bracket, consider selling stock at a loss to offset current gains and up to $3,000 of ordinary income. Unused capital losses can be carried forward.
  • You may be able to lower your lifetime taxes by spreading withdrawals from your IRA or 401(k) over your lifetime (even before age 70-1/2).
  • The sale of your home. You may be able to exclude capital gain on the sale of your primary personal residence up to $250,000 if you are single and $500,000 if you are married (and filing a joint return).
  • Investments in municipal bonds to generate tax-free income if you are in a higher tax bracket.1
  • Whether bunching itemized deductions in any given year may be beneficial compared to the standard deduction. Be sure to consider the increased standard deduction as a result of the tax reform legislation passed in 2017.

Sometimes it makes sense to pay taxes now to lessen your future tax liability, especially if you expect to be in a higher tax bracket in the future. If you might be in this situation, consider converting part, or all, of your traditional IRAs to Roth IRAs. 

It is important to note that significant changes were made to the tax code as a result of the tax reform legislation passed in 2017. Given these changes now is a great time to review your circumstances with your tax advisor. Additionally, many of the changes impacting individuals are set to expire after 2025 unless Congress acts. As tax laws and you situation change, it is important to remember to discuss with your tax advisor.

The benefits of working with a financial advisor and tax professional

Your advisor can help you balance your financial priorities with tax implications by helping you create a lifetime plan that meets both your personal and financial goals. Because your Ameriprise financial advisor understands your finances, he or she may also be able to recommend a tax professional for you. Working together, your Ameriprise financial advisor and your tax professional can help structure your investments and retirement distributions for tax efficiency.

Disclosures

Ameriprise Financial, Inc. and its affiliates do not offer tax or legal advice. Consumers should consult with their tax advisor or attorney regarding their specific situation.
1Interest income from municipal bonds is federally tax-free, though the alternative minimum tax may apply.  Interest income from municipal bonds is also generally state tax-free to residents of the state in which the municipal bond is issued, and generally taxable to residents of other states, depending on individual state rules.  Sales of municipal bonds can result in federal and state capital gains or losses.
There are risks associated with fixed income investments, including credit risk, market risk, interest rate risk and prepayment and extension risk. In general, bond prices fall when interest rates rise and vice versa. This effect is more pronounced for longer-term securities.
Withdrawals from traditional IRAs, 401(k) accounts, and other pre-tax investments prior to age 59½ are generally subject to a 10% IRS penalty on taxable earnings, though exceptions may apply.
Ameriprise Financial Services, Inc. Member FINRA and SIPC.

SECURE Act: How could it impact your retirement planning?

The Setting Every Community Up for Retirement Enhancement — the SECURE Act — was signed into law Dec. 20, 2019. Many provisions took effect Jan. 1, 2020. The SECURE Act retirement planning changes that are most relevant in the near term include: 

  • A later age for required minimum distributions (RMDs): age 72 from 70 ½ previously. 
  • A change to the IRA stretch strategy for non-spouse beneficiaries who inherit retirement accounts. 
  • Elimination of the 70 ½ age limit for workers who contribute to a traditional IRA. 

Required minimum distributions 

The SECURE Act increases the RMD age to 72 from 70 ½ and applies to anyone who turns 70 ½ in 2020 or later. 

If you don’t need income from your retirement plan or IRA accounts, the SECURE Act enables you to defer taxes from those accounts. If you want to work longer, the later RMD age provides more time for retirement-income planning.

Additional details: 

  • You turned 70 ½ in 2019: The SECURE Act does not change your RMD timing. You must take your first RMD by April 1, 2020. 
  • You will turn 70 ½ in 2020 or later: Under the SECURE Act, you must take your first RMD by April 1 after the year you reach age 72.  

First half 2020 birthday example: Turn 70 in spring 2020 and 70½ in December 2020

New rule – SECURE Act 
Former rule 
Under the SECURE Act, this person must take their first RMD by April 1, 2023 — the April 1 following their 72nd birthday in 2022. They receive two extra years because of the bill.
Under the former rules, this person would have had to take their first RMD by April 1, 2021 — the April 1 of the year following their 70 ½ birthday in 2020.

Second half 2020 birthday example: Turn 70 in fall 2020 and 70 ½ in spring 2021

New rule – SECURE Act 
Former rule 
Under the SECURE Act, this person must take their first RMD by April 1, 2023 — the April 1 following their 72nd birthday in 2022. They receive one extra year because of the bill.
Under the former rules, this person would have had to take their first RMD by April 1, 2022 — the April 1 of the year following their 70 ½ birthday.

IRA stretch strategy in estate plans  

Prior to the Secure Act, beneficiaries who inherited retirement accounts (such as a traditional or Roth IRA) could take the RMDs over their lifetime. The SECURE Act changes that financial strategy for most non-spouse beneficiaries who inherit their retirement account on or after Jan. 1, 2020. As a result: 

  • Most non-spouse beneficiaries must take the account proceeds (and pay the corresponding taxes) within 10 years of inheriting the account. This can be done with any number of distributions.  
  • Spouse beneficiaries, non-spouse beneficiaries who are no more than 10 years younger than the IRA owner and non-spouse beneficiaries who are disabled or chronically ill will continue to be able to stretch their IRAs over their lifetime.
  • If a minor child inherits the IRA, the 10-year period begins when the beneficiary reaches the age of majority (the age at which a minor child legally becomes an adult, generally between 18 – 21 years old).
  • A beneficiary who inherits an individual retirement account before the end of 2019 can still draw down the account over their lifetime. However, if a beneficiary inherits an IRA before the end of 2019 and dies Jan. 1, 2020, or later, that beneficiary’s beneficiary will be subject to the 10-year rule. For example:  
    • Allen’s son, Joe, inherits Allen’s IRA on Nov. 12, 2015. Joe takes RMDs over Joe’s life expectancy. 
    • On Feb. 12, 2020, Joe dies. Joe’s spouse, Fran, inherits the remainder of the IRA Joe inherited from Allen. Fran must take out the remainder of the IRA within 10 years. 

Traditional IRAs

The SECURE Act eliminates the 70 ½ age limit for contributions to a traditional IRA.

  • There is no change for Roth IRAs, which do not have an age limit. 
  • As always, you must have earned income to contribute to a traditional or Roth IRA. The SECURE Act does not change that requirement.  
  • Special rules apply to ensure individuals who make contributions after age 70 ½ cannot also receive a qualified charitable distribution (QCD) exclusion for those amounts. 

We are here to help you 

How could the changes impact you? An Ameriprise advisor can help you understand what the SECURE Act means for you and provide personalized advice to adjust your retirement income plans.

Disclosures

Ameriprise Financial, Inc. and its affiliates do not offer tax or legal advice. Consumers should consult with their tax advisor or attorney regarding their specific situation.
Investment products are not federally or FDIC-insured, are not deposits or obligations of, or guaranteed by any financial institution and involve investment risks including possible loss of principal and fluctuation in value.
Ameriprise Financial Services, Inc. Member FINRA and SIPC.