News At-A-Glance
Brighton, Colorado
Continued...Financial Advice: Smart Portfolio Moves for Your Retirement Years
Article Offered By Richard Bonitz, Edward Jones
Leave a legacy. As you may know, the estate tax laws are in flux. In 2008, the estate tax exemption amount - the amount you can pass to your heirs, free of estate taxes - is $2 million. This figure rises to $3.5 million in 2009. Then, in 2010, the estate tax disappears for one year only. And unless Congress changes the laws before then, in 2011 the exemption amount will revert to $1 million, with a maximum estate tax rate of 55 percent. How could you help your family cope with a potential estate tax burden? You could make some “tactical” moves, such as rolling over your 401(k) to an IRA, which, when passed on to your heirs, could be “stretched” for years to reduce the tax bite. You could also reduce the size of your taxable estate by making gifts to family members and charitable organizations. Before making either of these moves, though, consult with your tax and legal advisors.
Clearly, there are numerous portfolio considerations for retirees. So, when you’re nearing retirement, start planning ahead. By making the right moves, you can make your “golden years” considerably brighter.
Edward Jones does not offer tax or legal advice. You should consult with a competent tax or legal adviser for your specific situation