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Election Day approaches and with it comes increasing uncertainty and anxiety about the next President of the United States and the future of our country. We’ve been here before. Every four years comes a firestorm of proposals and promises, campaign propaganda and candidate insults. And every election leads investors to wonder whether the US economy would thrive or falter under the leadership of the each candidate. (more…)

The Deferred Retirement Option Program (DROP), available under the Florida Retirement System (FRS) Pension Plan, allows a member to retire while continuing employment for up to 60 months. While in the DROP, the member’s retirement benefits accumulate in the FRS Trust Fund and earn monthly interest equivalent to an annual stated rate. In most cases, the DROP participants must cease employment after the maximum 60 months in the DROP. Once the FRS employment ends, the participant can select one of three payout options. (more…)

Changing jobs is part of life. After all, baby boomers born between 1957-1964 held an average of 11.7 jobs during their working years. One of the most confusing elements of a job change can be what to do with an old 401(k). Understanding how to best navigate that situation can be critical to keeping you on track to achieve your long-term financial goals. (more…)

Financial Planners vs. Robo-Advisors: There’s No Comparison

Robo-advisors have become an increasingly popular topic over the last few years. A robo-advisor offers online wealth management service that provides automatic algorithm-based portfolio management. Before investing, you are usually asked a number of questions to evaluate your income, risk tolerance, time horizon, etc. in effort to match you with a suitable asset allocation. Your money is then placed in funds and will be automatically rebalanced throughout the life of the account as time passes, fund values change, or money is added. Generally, there is no human interaction. (more…)

Retention of Tax Records

Posted on January 22, 2016 in

Are you looking for guidance on how long you should retain your personal income tax records? These records may have to be produced if IRS (or a state or local taxing authority) was to audit your return or seek to assess or collect a tax. In addition, lenders, co-op boards, or other private parties may require that you produce copies of your tax returns as a condition to lending money, approving a purchase, or otherwise doing business with you. (more…)

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