Retirement in Sight – May 2020

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Monthly News and Information for Current and Future Retirees Presented by UPAL – MAY 2020 QUOTE OF THE MONTH “Reputation is what other people know about you. Honor is what you know about yourself.” LOIS MCMASTER BUJOLD HOW SHOULD PRE-RETIREES VIEW ILLIQUID ASSETS? Some people approach their retirement years owning illiquid assets worth more than their liquid ones. While long-held illiquid assets, such as a business or home, may become highly valued or appreciated over time, it can be wise to be frank and conservative when estimating their worth, especially…

Pullbacks, Corrections, and Bear Markets

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What’s the difference? What do these terms mean for you? May 8, 2020 The COVID-19 outbreak has put tremendous pressure on stock prices, prompting some investors to blindly and indiscriminately sell positions at a time when the entire market is trending lower. Worried investors believe “this time it’s different.” When the market drops, some investors lose perspective that downtrends – and uptrends – are part of the investing cycle. When stock prices break lower, it’s a good time to review common terms that are used to describe the market’s downward…

Temporary Change in Hours for BOK Participant Service Representatives

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  We wanted to make you aware that due to the current environment and the safety of BOK employees, the hours for the participant service representatives have changed temporarily to 7 AM – 5 PM Central Time.  The initial plan is to have these hours in place for the next 30 days, unless the situations warrants an extension.

BOK Financial’s Economic & Market Outlook Call

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Q2 2020 – ECONOMIC & MARKET OUTLOOK CALL Please join Jim Huntzinger, BOK Financial’s Chief Investment Officer, for our next Economic and Market Outlook call. We will provide a comprehensive market analysis, review the latest U.S. and global economic conditions and discuss what it means for you and your business. SPEAKERS: Jim Huntzinger, Executive Vice President, Chief Investment Officer J. Brian Henderson, CFA®, President, Cavanal Hill Investment Management Thursday, April 9, 2020: 3:30- 4:30 p.m. CT Conference Call Number: 1.888.317.6003 Participant Elite Entry Number: 9001137 Access the Presentation Use the button below to access…

Retirement in Sight – March 2020

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MONTHLY NEWS AND INFORMATION FOR CURRENT AND FUTURE RETIREES PRESENTED BY UPAL – MARCH 2020 QUOTE OF THE MONTH “In a time of drastic change, it is the learners who inherit the future.” ERIC HOFFER GOOD CAREER CHOICES MAY LEAD TO AN IMPROVED RETIREMENT What is your most powerful tool for building retirement savings? Perhaps, your income. For that matter, the path of your career could influence when and how well your retirement begins. Is there merit in changing jobs (or even careers) with an eye toward what the move…

Should You Care What the Financial Markets Do Each Day?

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Focusing on Your Strategy During Turbulent Times. February 25, 2020 Investors are people, and people are often impatient. No one likes to wait in line or wait longer than they have to for something, especially today when so much is just a click or two away. This impatience also manifests itself in the financial markets. When stocks slip, for example, some investors grow uneasy. Their impulse is to sell, get out, and get back in later. If they give in to that impulse, they may effectively pay a price. Across…

That First Distribution from Your IRA

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What you need to know. February 25, 2020 When you are in your seventies, Internal Revenue Service rules say that you must start making withdrawals from your traditional IRA(s). In I.R.S. terminology, these withdrawals are called Required Minimum Distributions (RMDs).1 Generally, these distributions from traditional IRAs must begin once you reach age 72. The money distributed to you is taxed as ordinary income. (When such distributions are taken before age 59½, they may be subject to a 10% federal income tax penalty.)1 If you fail to make these withdrawals or…

Retirement in Sight – February 2020

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MONTHLY NEWS AND INFORMATION FOR CURRENT AND FUTURE RETIREES PRESENTED BY UPAL – FEBRUARY 2020 QUOTE OF THE MONTH “Rest is the sweet sauce of labor.” PLUTARCH WHAT MATTERS MORE IN RETIREMENT: INCOME, OR SAVINGS? Retirement saving is not just about accumulating assets. It is also about laying the groundwork for retirement spending. Any retirement strategy has a core goal: the goal of helping an individual or couple pursue their retirement dreams once their careers have concluded. So, from that perspective, the amount that needs to be saved directly relates…

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…

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…