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Retirement Guides and Checklists

Can I Make a Backdoor Roth IRA Contribution?

If your earned income is too high, you may be unable to make a regular contribution to a Roth IRA. But, there is a workaround called the Backdoor Roth Contribution. There are many factors and rules that must be considered, and complicated steps to take in order to properly implement this strategy, without penalty. To help make the analysis easier, we have created the “Can I Make A Backdoor Roth IRA Contribution?” flowchart.

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What Issues Should I Consider When Reviewing My Estate Planning Documents?

Estate planning is a critical aspect of the financial planning process. Reviewing your documents periodically is an important exercise. However, this can be a daunting task for retirees, who may find the exercise tedious and, perhaps, confusing. To help guide your document review, we have created this checklist. It covers key considerations regarding the most common estate planning documents.

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What Issues Should I Consider When Reviewing My Investments?

Whether you are a novice or an experienced investor, it is critical to review your investment portfolio as part of the financial planning process. Particularly during times of uncertainty and volatility, a portfolio review can help you evaluate and confirm your strategy, ensuring alignment with your financial goals. This checklist provides suggestions on factors to consider when reviewing your investment portfolio.

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Should I Take My Pension as a Lump Sum?

Although increasingly rare, employer pensions can make up a considerable portion of some retirees' expected retirement benefits. Whether they are nearing retirement or are already receiving ongoing pension payments, some individuals may have the option to choose a lump sum distribution/buyout instead of a lifetime stream of payments. Several factors must be analyzed in order to determine what course is best for each retiree's unique circumstances.

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Should I Rollover My Dormant 401(k)?

401(k)s and IRAs have many unique features that may be beneficial to retirees, depending on their circumstances. The decision to roll funds out of a former employer’s plan involves more factors than just fees and investment selection. To help make this analysis easier, we have created the “Should I Roll Over My Dormant Traditional 401(k)?” flowchart. It addresses some of the most common issues that should be considered before doing a rollover.

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Should I Change My Medicare Coverage During Open Enrollment?

Many retirees currently rely on Medicare plans for their health care coverage. They may have enrolled in Original Medicare or Medicare Advantage, and they likely have prescription drug coverage as well. For current beneficiaries of all of these plans (Medicare A, B, C, and D), October 15 marks the beginning of the Open Enrollment Period, during which changes in coverage may be made. This flowchart helps you guide your clients through a series of considerations when evaluating and comparing their Medicare options.

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