Cory Burnell

People save for a variety of things in retirement. Some dream of vacation homes in tropical destinations, others plan to spend time with grandchildren and family. Of all the activities you are saving for in retirement, did you know that healthcare may have the biggest price tag? One study found that a man would need to save $127,000 and a woman would need to save $143,000 for health care in retirement if they want a 90% chance of being able to pay all their future medical bills. 1 Thankfully, your retirement health costs are not set in stone. Of course, you won’t have total control over your health in retirement, but there are things you can do to manage your health risks and potential costs. Here are a few tips. Get informed   — Medical expertise and advice are constantly changing. Keep yourself up-to-date on healthcare news, particularly with regard to issues that have affected you or those related to you. Ask your doctor to help you identify areas of particular concern. Devel

Tip:  Nearly 70% of workers expect to work for pay in retirement, but only 26% of retirees actually have done so. Source: 2018 Retirement Confidence Survey, EBRI Retirement can have many meanings. For some, it will be a time to travel and spend time with family members. For others, it will be a time to start a new business or begin a charitable endeavor. Regardless of what approach you intend to take, here are nine things about retirement that might surprise you. Many consider the standard retirement age to be 65. One of the key influencers in arriving at that age was Germany, which initially set its retirement age at 70 then lowered it to age 65.¹ Every day between now and the end of the next decade, another 10,000 baby boomers will turn 65. That’s roughly one person every 8 seconds.² In 2016, the latest year for which data is available, people aged 65 and older accounted for 15% of the population in the U.S. By 2060, they are expected to represent more than one-in-four America

As parents, we encourage our children to work so they can learn important values about work and independence. At what point, if at all, do children need to file an income tax return for the money they earn? The IRS does not exempt anyone from the requirement to file a tax return based on age, even if your child is declared as a dependent on your tax return.¹ Your dependent children must file a tax return when they earn above a certain amount of income. Dependent children with earned income in excess of $12,000 must file an income tax return.² Dependent children with unearned income of more than $1,050 must also file a return. And if the dependent child's earned and unearned income together total more than the larger of $1,050, or a total earned income up to $12,000 plus $350. These thresholds are subject to change, so please consult a professional with tax expertise regarding your individual situation. Here's an example. Kyle is a 20 year old college student who'

Charles de Gaulle once remarked, “The graveyards are full of indispensable men.”¹ While we know that life goes on regardless of the loss of any “indispensable” person, for a small business, the loss of a key person is not only a human tragedy, it can also represent the potential for significant financial loss. Though business owners cannot protect themselves from the unexpected and sudden loss of a key employee, they may be able to protect themselves from the financial consequences of such a loss through the purchase of what is called “key person insurance.” Who’s Key? There is no legal definition for who a key person is, but he or she is someone whose loss, due to death or disability, would cause a material financial setback to the business. For example, a key person may be a top salesperson whose production would take considerable time to replace. Or perhaps it’s someone who is guaranteeing the business access to needed future capital. Key person insurance is a standard insu

Ancient Chinese merchants are said to have developed a unique way to reduce their risk. They would divide their shipments among several different vessels. That way, if one ship were to sink or be attacked by pirates, the rest stood a good chance of getting through and the majority of the shipment could be saved. Your investment portfolio may benefit from that same logic. Diversification is an investment principle designed to manage risk. However, diversification does not guarantee against a loss. The key to diversification is to identify investments that may perform differently under various market conditions. On one level, a diversified portfolio should be diversified between asset classes, such as stocks, bonds, and cash alternatives. On another level, a diversified portfolio also should be diversified within asset classes, such as a diverse basket of stocks. A Diversified Approach For example, say a stock portfolio included a computer company, a software developer, and

Whole life insurance remains in force for your whole life, as long as you remain current with your premiums. In exchange for fixed premiums, the insurance company promises to pay a set benefit when the policyholder dies.   Whole life insurance policies build up cash value   — effectively a cash reserve that pays a modest rate of return. This growth is tax deferred. Guarantees are based on the claims-paying ability of the issuing company. Most whole life insurance policies will let   policyholders borrow a portion of their policy’s cash value   under fairly favorable terms. And interest payments on policy loans go directly back into the policy’s cash value.* When the policyholder dies , his or her beneficiaries receive the benefit from the policy. Depending on how the policy is structured, benefits may or may not be taxable. *Whether whole life insurance is the best choice for you will depend on a variety of factors, including your unique goals, needs, and circumstances.

The gap between setting goals and achieving them can be difficult to bridge. To enhance the chances of achieving personal goals, reminders and motivation are essential; making a New Year’s resolution is simply not enough. A number of apps have been developed in recent years to help you pursue your goals and develop better life habits. To get you started, consider this app: Optimized:   A goal setting and daily tracking app, Optimized can analyze your activities as well as help you set goals and pursue them by charting your daily progress.   Visit site In contrast to the above app, which is a straightforward goal setting and tracking tool, the following apps add a layer of motivation that may be exactly what some individuals need to turn aspirations into reality. StickK:   Using a “commitment contract,” this app attaches incentives and accountability to goal setting, incorporating a user-appointed referee and a social network to encourage success.   Visit site 21Habit:   This

You are required by the Internal Revenue Service (IRS) to take a required minimum distribution (RMS) by April 1 of the year following the calendar year in which you reach age 70 ½ and by December 31 each subsequent year thereafter from your retirement accounts.  The first year following the year you reach age 70 ½ you will generally have two required distribution dates: an April 1 withdrawal (for the year you turn 70 ½), and an additional withdrawal by year end (for the year following the year you turn 70 ½).  To avoid having both of these amounts included in your income for the same year, you can make your first withdrawal by year end of the year you turn 70 ½  instead of waiting until April 1 of the following year.  If you need to make an RMD, please contact your financial advisor to help you request this distribution.   RMDs generally are determined by dividing the prior year-end IRA balance by the life expectancy factor (or distribution period), as defined in IRS tables.  RMDs

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When interest rates reach historic lows, some investors in search of income-generating investments turn to dividend-yielding stocks. Dividends are taxable payments made by a company to its shareholders. When a company makes a profit, that money can be put to two uses—it can be reinvested in the business or it can be paid out to the company’s shareholders in the form of a dividend. Some dividends are paid quarterly and others are paid monthly. Dividend Ratios Investors track dividend-yielding stocks by examining a pair of ratios. Dividend per share   measures how much cash an investor is scheduled to receive for each share of dividend-yielding stock. It is calculated by adding up the total dividends paid out over a year (not including special dividends) and dividing by the number of shares of stock that are outstanding. Dividend yield   measures how much cash an investor is scheduled to receive for each dollar invested in a dividend-yielding stock. It is calculated by dividin

Cory Burnell recently had the opportunity to interview 2018 Candidates for Calaveras County Sheriff.  Check it out at the links below: http://thepinetree.net/new/?p=68056 https://www.youtube.com/watch?v=aVCPUp10j7g

Tip:   Generally,   children under the age of 18 cannot be executors.   Source: Plea.org, May 20, 2016 In her will, American businesswoman Leona Helmsley left $12 million in a trust fund to her dog Trouble. Her four executors were responsible for seeing that her wishes were carried out. In the years after her death, they dealt with challenges from two disinherited grandchildren, oversaw scores of properties and hotels, negotiated settlements with disgruntled former employees, and managed a huge investment portfolio in a falling economy. What did they ask for in return? $100 million split between them.¹ The executor to your will may not be as busy or as well compensated as Ms. Helmsley’s. Still, you’ll want to give thoughtful consideration to this important choice. How do you choose an executor? Can anyone do it? What makes an individual a good choice? Many people choose a spouse, sibling, child, or close friend as executor. In most cases, the job is fairly straightforward. Still