Financial Planning

January 9, 2015

Prepare for These Tax Changes in 2015

We’ve rung in the New Year with some updates to the federal tax system. Set by Congress to keep in line with inflation, we highlight four changes that may affect your 2015 tax bill: To start with some good news, the standard deduction will increase slightly: $100 for singles, $200 for married, and $150 for head of household. For 2015, the earnings level for the 39.6% top tax rate has increased by 1.59%. It will now apply to singles earning over $413,200 and to married filing jointly taxpayers making over $464,850. The federal Estate Tax will now kick in for estates over $5.43 million, up from $5.34 million in 2014. Alternative Minimum Tax exemption has been raised by $800 to $53,600 for singles and by $1,300 to $83,400 for those married filing jointly. Good financial planning includes understanding the tax changes in 2015. Questions? Send us an email, or give us a call at 317.663.4138.
January 7, 2015
Saving for retirement

Four Changes to Retirement Savings in 2015

Do you make a New Year’s resolution to better manage your money in 2015? If so, we hope retirement savings will be a part of your plan. Retirement products continue to evolve, and it is important to understand how these changes will help you achieve your goals. The following are some of the changes to retirement savings in 2015: 1) myRA – There is a new Roth IRA account that is not connected to an employer. The program is available to individuals making under $129,000, and is fully insured by the federal government. Employees make make after-tax contributions through payroll deduction. 2) Increased Contribution Limits – In 2015 you may contribute $500 more to your IRA than in 2014. If you are over 50, your catch-up contribution can be upped by $500 as well. 3) More from (and to) Social Security – If you are currently collecting social security, your benefits will go up by 1.7%. However, if you are contributing to social security, the percentage of your taxed income has gone up by $1,500, or about 1.3%. 4) Increased Credit for Saving to Your IRA – Individuals with a gross income of under $30,500 per year can apply for a saver’s credit of up to $1,000 in taxes for saving to their IRA or 401K. This credit is up from $500 in 2014, and can serve as a great incentive to save toward your retirement this year. Questions on how to plan for your retirement? Send us an email, or give us a call at 317.663.4138
November 4, 2014

Women Are Gaining Ground in Retirement Savings

In a recent article on, Vanessa De La Rosa outlined the findings of a recent study on the gender gap in retirement savings. Women have historically trailed behind men in their retirement savings levels, but according to the 5th Annual Transamerica Retirement Survey, the disparity is narrowing. Click here to read the full article. offered the following revealing infograph. How do you feel about the state of your retirement savings?
September 17, 2014
Retirement Planning

10 Cities to Leave Off Your “I Could Retire There” List

Most of us at some point in our lives begin to daydream about that perfect retirement spot. For some it is located near grandchildren, for others the first priority is warm weather. Regardless of the details of your vision, choosing a place where you can afford to retire is imperative. WalletHub recently released a report based on its study of 150 American cities, ranking each area on retirement desirability based on criteria over five categories: affordability, activities, quality of life, health care and jobs. Click here to read more about the particulars of the study. The following turned out to be the 10 worst cities for retirees: 10 Cities to Leave Off Your “I Could Retire There” List 10. Jersey City, New Jersey 9. Baltimore, Maryland 8. Fresno, California 7. Worcester, Massachusetts 6. Stockton, California 5. Chicago 4. New York 3. Philadelphia 2. Newark, New Jersey 1. Providence, Rhode Island We certainly hope we have not just crushed your retirement dreams! What is it that you are looking for in a retirement destination?
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