Member Advantage Articles

Retirement in Sight – January 2020

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Monthly News and Information for Current and Future Retirees Presented by UPAL – January 2020 QUOTE OF THE MONTH “Generosity is giving more than you can, and pride is taking less than you need.” KHALIL GIBRAN HOW THE SECURE ACT IMPACTS RETIREMENT ACCOUNTS A new federal law, the Setting Up Every Community for Retirement Enhancement (SECURE) Act, directly affects retirees and retirement savers. It changes the rules regarding “stretching” an Individual Retirement Account (IRA) as well as longstanding retirement account rules keyed to age 70½. Under the SECURE ACT, in…

Creating a Retirement Strategy

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Most people just invest for the future. You have a chance to do more.  December 16, 2019 Across the country, people are saving for that “someday” called retirement. Someday, their careers will end. Someday, they may live off their savings or investments, plus Social Security.  They know this, but many of them do not know when, or how, it will happen. What is missing is a strategy – and a good strategy might make a great difference. A retirement strategy directly addresses the “when, why, and how” of retiring. It…

Annual Financial To-Do List

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Things you can do for your future as the year unfolds. December 16, 2019 What financial, business, or life priorities do you need to address for the coming year? Now is a good time to think about the investing, saving, or budgeting methods you could employ toward specific objectives, from building your retirement fund to managing your taxes. You have plenty of choices. Here are a few ideas to consider: Can you contribute more to your retirement plans this year? In 2020, the contribution limit for a Roth or traditional…

Retirement in Sight – December 2019

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MONTHLY NEWS AND INFORMATION FOR CURRENT AND FUTURE RETIREES PRESENTED BY UPAL – December 2019 QUOTE OF THE MONTH “Always be a first-rate version of yourself, instead of a second-rate version of someone else.” JUDY GARLAND READY FOR MORE TIME TOGETHER? A career-focused couple may spend as little as 5 to 6 hours interacting with each other on most days, given hours spent working, commuting, shopping, and running errands apart. Once retired, that same couple may spend as many as 15 to 16 hours together each day, with work and…

Holiday Wrap-Up

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A look back at 2019, thus far… Presented by UPAL The year in brief. 2019 brought three quarters of disagreement over trade issues between the U.S. and China… followed by fourth-quarter hints that a partial trade deal could be reached. Concerns grew over economic deceleration in America, and the Federal Reserve made three quarter-point interest rate cuts in a nod to that perception. Wall Street was fixated on trade and monetary policy for most of the year, and ultimately, investors saw more upside in equities than downside. Domestic economic health….

Your Year-End Financial Checklist

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Six aspects of your financial life to review as the year draws to a close. November 25, 2019 The end of the year can help remind us of last-minute things we need to address and long-term goals we want to accomplish. To that end, here are six aspects of your financial life to think about as this year leads into the next. Keep in mind, this article is for informational purposes only and is not a replacement for real-life advice. Make certain to contact a tax or legal professional before…

Retirement in Sight – November 2019

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MONTHLY NEWS AND INFORMATION FOR CURRENT AND FUTURE RETIREES Presented by UPAL – November 2019 QUOTE OF THE MONTH “Whatever advice you give, be brief.” HORACE WORKING A LITTLE IN RETIREMENT MAY BE EASIER THAN YOU THINK Increasingly, Americans older than 65 are finding compelling reasons to return to the workforce, whether part time or full time. Some want the money; some want the challenge and sense of purpose. One factor in their favor: companies in many industries are having a hard time finding enough qualified workers. So far this…

Retirement in Sight – October 2019

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MONTHLY NEWS AND INFORMATION FOR CURRENT AND FUTURE RETIREES PRESENTED BY UPAL – OCTOBER 2019 QUOTE OF THE MONTH  “Any great work of art … revives and readapts time and space, and the measure of its success is the extent to which it makes you an inhabitant of that world — the extent to which it invites you in and lets you breathe its strange, special air.” LEONARD BERNSTEIN GENERATING RETIREMENT INCOME Each day, more than 10,000 Americans celebrate their 65th birthday. It’s a milestone, and for some, it signifies…

Retirement in Sight – September 2019

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MONTHLY NEWS AND INFORMATION FOR CURRENT AND FUTURE RETIREES Presented by UPAL – September 2019 QUOTE OF THE MONTH “The more we do, the more we can do; the more busy we are, the more leisure we have.” William Hazlitt SUNNIER PROSPECTS FOR WORKING AS A SENIOR In recent years, a steady stream of articles has appeared, questioning baby boomers’ hopes to keep working part time in their retirement years. These articles have tended to take a skeptical view of such ambitions. Well, maybe it is time to sweep some…

Cash Balance Plans

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More professional practices (and practice groups) should look into them. August 23, 2019 In corporate America, pension plans are fading away. Only 16% of Fortune 500 companies offered them to full-time employees in 2018, according to Willis Towers Watson research. In contrast, legal, medical, accounting, and engineering firms are keeping the spirit of the traditional pension plan alive by adopting cash balance plans.1 Owners and partners of these highly profitable businesses sometimes get a late start on retirement planning. Cash balance plans give them a chance to catch up. These…