Retirement


By Lee Sherbakoff, CPA/PFS, CFP®, RICP® There are a lot of things you don’t want to gamble with in life, like your retirement savings, how you raise your kids, or your health. Unfortunately, many Americans take one particular risk with their health, possibly without even realizing it, and that’s neglecting to make a long-term care plan. (1) Since 70% of people will need some form of long-term care during their lifetimes, it’s critical...

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Examining The Roth IRA From Lee Sherbakoff, The Nalls Sherbakoff Group, LLC Dear Friends, There are many vehicles to choose from as you travel the road to retirement. One of the more advantageous means you may utilize to build a nest egg is the Roth IRA. A Roth IRA is an Individual Retirement Account that allows you to contribute after-tax dollars into a savings or brokerage account. With a Roth IRA, you get no up-front tax deduction,...

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Earlier-Than-Planned Retirements From Lee Sherbakoff, The Nalls Sherbakoff Group, LLC Dear friends, Last week another 1.2 million individuals submitted an initial claim for unemployment insurance benefits.  That put over 16 million people out of work and collecting unemployment insurance. Clearly, the arrival of COVID-19 resulted in dramatic changes in the U.S. labor markets with initial claims skyrocketing and a lowering of the...

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Fog Still Obscures The Road Ahead From Lee Sherbakoff,The Nalls Sherbakoff Group, LLC. Dear Friends, Aided by massive stimulus and liquidity injections from the Fed, the S&P 500 Index has turned positive for the year. Cautiously upbeat headlines regarding a vaccine have also supported sentiment. Yet, tensions between the U.S. and China are rising, coronavirus infections and coronavirus-related deaths continue to rise, and the...

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By Lee Sherbakoff, CPA/PFS, CFP®, RICP® You’ve spent decades accumulating assets and saving for retirement. But socking money away is only half the battle. Here are the top 5 financial planning challenges you face in retirement—and how you can plan for them today. 1. Feeling Depressed In Retirement Many seniors fail to plan for the psychological transition that occurs when you head into retirement. Studies show that your likelihood of...

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2020 RMDs Can Be Paid Back By Rollover From Lee Sherbakoff,The Nalls Sherbakoff Group, LLC. Dear Friends, The IRS has extended the rollover deadline for required minimum distributions (RMDs) taken from IRAs or company plans in 2020. On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act – better known as the CARES Act – was signed into law by President Trump. The CARES Act provision that may have the biggest...

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