taxes Archives | McIntosh & Associates, Inc.

Tag Archives: taxes

Developing a sound retirement strategy requires periodic reviews and analyses of projected income levels in order to maintain the lifestyle you envision. Annuities can serve as useful investments for retirees looking to generate guaranteed income. According to one investor poll, having a guaranteed income is a top priority of 56% of respondents.1 Yet, most Americans […]

More than one-third of Americans have little to no money saved for retirement. Most of them are part of generation X, who were most affected by the Great Recession of 2008.1 They lost almost half of their net wealth during a time when they carried hefty financial obligations including mortgages, aging parents, and children – […]

Saving for retirement to sustain your standard of living is a continual effort to prevent your quality of life from declining in later years. Unfortunately, for many retirees, this goal can be difficult to achieve. Even with planning, 52% of working-age households may not be able to sustain their lifestyles in retirement.1 You can take […]

Saving money before and during retirement so their standard of living doesn’t suffer is important for many retirees. Unfortunately, many Americans aren’t saving nearly enough and are falling short of setting aside adequate funds to support their retirement needs. The average retirement savings for people aged 56-61 is only $163,577. Meanwhile, retirees can spend nearly […]

Life insurance policies and annuities can be helpful in providing extra protection and income for you and your family. But you can also increase the value of these benefits with certain tax advantages that each investment provides. Here are some ways that life insurance and annuities provide you with tax benefits. Life Insurance Tax Benefits […]

Enjoying a comfortable retirement depends on how well you prepared ahead of time to support your desired lifestyle, and how well you keep a pulse on your financial well-being after you retire. You may need to check periodically to ensure you can continue to afford retirement and health-care needs, no matter how much planning you […]

Make your retirement happen! What makes age 70 1/2 so significant? Required minimum distributions (RMDs) most commonly are taken from traditional Individual Retirement Accounts (IRA), workplace retirement plan accounts — 401(k), 403(b), 457 – or self-employed retirement plan accounts at the age of 70 1/2 for retirees. If you’re at or near retirement age, you’ll soon have […]

There’s more to do than plan your New Year’s party – the final days of the year are an important time to take a good look at your finances. Financial professional Mindy McIntosh talks with WSMH FOX66 Profitt Report about five smart money moves to make before the New Year that will help your finances […]

If you’ve been putting money away into a retirement account for a few years, it can be tempting to dip into those funds. However, withdrawing from your 401(k) or IRA early usually means penalties. The penalties can be significant: Forbes reported that Americans paid an estimated $5.8 billion in penalties on retirement account withdrawals on […]

Home loans often make up significant amounts of household debt, and reducing as much debt as possible before entering retirement can seem like a promising idea. But, as with many other financial questions, there is no precise answer; it all depends. The Consumer Financial Protection Bureau estimates that 30% of homeowners 65 and older—about 6.5 […]

Mindy talks with Michigan’s WSMH Fox66 Profitt Report about politics and your retirement. During years of political change we often hear people wondering if politics in Washington D.C. will impact our lives in mid-Michigan. “Is there much difference between democratic and republican? And do we need to worry about who’s in the administration?” McIntosh said. […]

We’re in the midst of the holidays, travels, family gatherings, and more. And though life is busy, any free moments you can spare for a little tax planning will help you stay ahead in 2017. We’re happy to share with you highlights of tax planning tips. That way, you can create strategies today to help you minimize your […]