Retirement Planning Category Archives

best retirement communities in phoenix, 55 plus communities in phoenix

14 Jul Should I Retire in Phoenix, AZ?

Posted at 06:42h in Retirement Planning by Phelps LaClair

Wondering whether you should retire in Arizona? We’ll help you see how great it could be if you did! Retiring in the Phoenix area has fabulous benefits. Warm winters, sunshine year-round, and stunning natural views are just the tip of the iceberg. Arizona is a...

In this guide, we answer the most frequently asked questions about inherited 401K accounts and how your 401K fits into estate planning.

24 May Your 401K and Your Estate Plan

Posted at 09:57h in Estate Planning, Retirement Planning by Phelps LaClair

Choosing a beneficiary for your 401K is an important decision. Even though retirement accounts do not have to go through probate, they can still be subject to taxes and fees. And when it comes to inheriting a 401K account, different rules apply for charities, spouses,...

how does moving after retirement affect my taxes, changing states after retirement, retirement income tax and moving

05 Aug Changing States After Retirement: How Moving Can Affect Your Taxes

Posted at 05:29h in Asset Protection, Retirement Planning, Taxes by Phelps LaClair

If you’re retired and thinking about moving to a different state, or planning to move after you retire, you may be wondering how it will affect your income. If so, you probably have a lot of questions—will my taxes change after moving to another state?...

how to save for retirement, is 40 too late to start saving for retirement, building wealth in your 40s

17 Apr How to Build Wealth and Save for Retirement in Your 40s

Posted at 14:40h in Retirement Planning by Phelps LaClair

Estate planning and retirement planning go hand in hand. Just like it's never too early (or too late) to start saving for retirement, it's always good to begin the estate planning process sooner rather than later. The good news? Even if you’re just getting serious...

estate planning in your 60s (sixties), estate planning for large portfolios, estate planning with a large portfolio example

28 Feb Estate Planning in Your Sixties: A Senior’s Guide

Posted at 09:38h in Estate Planning, Retirement Planning by Phelps LaClair

For seniors like you with large financial portfolios, you’ll need to take a few steps to protect your hard-earned wealth. Careful estate planning will not only ensure the smooth transfer of your assets after you pass, it will also help your heirs avoid unnecessary costs...

pros and cons of streamlining your assets before retirement

13 Feb Should I Streamline My Assets Before Retirement?

Posted at 10:45h in Retirement Planning by Phelps LaClair

Streamlining your assets before retirement can have benefits as well as drawbacks. Perhaps you want to make your finances less hands-on so you can focus on your hobbies, travel, or loved ones. Maybe you want to simplify your streams of income or maybe you’re starting to...

saving for retirement - human hand using calculator on a desk

13 Jan Are You Behind on Planning for Retirement? How to Get Back on Track

Posted at 11:17h in Estate Planning, Retirement Planning by Phelps LaClair

Another year is upon us, and every year the time seems to go by more quickly. If you’re at retirement age or nearing it, you may be starting to feel that your time for making preparations is running out. Maybe you haven’t been saving as...

Roth vs Traditional IRA: What's the Difference, roth ira and regular ira

19 Apr Roth vs Traditional IRA: What’s the Difference?

Posted at 07:28h in IRA, Retirement Planning by Phelps LaClair

It is never too early to start planning for your future retirement. To make sure you have enough funds to enjoy the later part of your life, the estate planning experts at Phelps LaClair suggest that our clients consider investment retirement accounts (IRAs). There are two...

what is a backdoor ira -- Asian woman opening a blue door and smiling

26 Jul What Is a Backdoor IRA?

Posted at 12:36h in IRA, Retirement Planning by Phelps LaClair

Individual Retirement Accounts (IRAs) offer an excellent opportunity for people to save money in preparation for retirement. However, people who make more than a certain amount of money cannot contribute to a Roth IRA. But what if there was a way to contribute to a...

is arizona a good place to retire, arizona retirement and taxes, pros of retiring in AZ

12 Aug Pros and Cons of Retiring in Arizona

Posted at 08:18h in Retirement Planning by Phelps LaClair

Are you wondering if Arizona is a good place to retire? Our answer would be a resounding “YES!” Not only is Arizona a tax-friendly state for seniors with a wide array of desirable cities, there are many other pros to settling down here for your...

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