By Beau RuffProperty owned by aspouse does not automatically transfer to the surviving spouse at death.Instead, something more is needed in the estate plan to accomplish this feat. In all the complexityof the estate plan, the community property agreement is one document inparticular that offers simplicity, and yet still is...
By Cathy MacCaulA new retirement savings initiative has launched in Washington. The Retirement Marketplace officially opened the nation’s first online savings portal in March, where businesses and individuals can comparison shop for low-cost, state-verified retirement savings plans. The Retirement Marketplace was created to help about 2 million Washingtonians who do not...
By Stephen PalmRetirement planning is the process to prepare for the phase of life after employment income ends. There are several lifestyle items to consider. However, the primary issue is will there be sufficient assets and income to provide the desired income and lifestyle for the remainder of the retiree’s...
By Scott SarberMany people come into our office to prepare for retirement. We talk about when they are anticipating retirement and what their goals are. We review assets, liabilities and current cash flow.Through our financial planning process, we estimate future net worth and future cash flow. We let them know...
Four years ago, the Kadlec Foundation kicked off a new donor program called K-Life to allow people to make an investment in local health care while enjoying the tax savings benefits of a charitable trust.K-Life uses a pooled income fund with three major benefits: bypassing capital gains taxes, increased lifetime...
A tool designed to protect a climber from a fall or ascend a mountain faster is the inspiration behind the name of a new independent practice headed up by a Kennewick financial planner. Named Piton Wealth for the mountaineering tool known as a piton, founder and Chief Executive Officer Michelle...
By Eleanor CumminsPreparing for retirement isn’t just about getting finances in order. Faith-based financial advisers, whose ranks are rapidly expanding in the Tri-Cities and across the country, say retirement is also a time to reaffirm commitments to family, friends and the causes you believe in.[blockquote quote="You can leave your money...
Aging-in-place specialists can help homeowners make adjustmentsAs nearly 77 million baby boomers settle into retirement, many are concerned with more than just their bank accounts.Almost 70 percent of homeowners nationwide have made adjustments to their homes so they can live there longer, according to an AARP study called “Fixing to...
In 2011, Anne Nolan and her husband were getting ready to retire from their jobs at the Hanford area.There was a real fear of what would happen next, she said. What would they do with their of free time? And with whom?Then she found the Fun, Fit & Over Fifty...
By Benjamin MessingerMy favorite economics professor started our first class by asking: “What is the purpose of a business?” A classmate called out, “To make a profit.” Our professor replied, “Wrong! The purpose of a business is to MAXIMIZE profit! Making a profit leads to golfing in Ritzville. Maximizing profit...
