Tower Bridge Financial

03/15/2022

Tacos on Friday! Join us at the Elk Grove office from 12-2 for tacos and a special announcement. You must register to attend: https://towerbridgefinancial.com/lunch/

02/28/2022

Does your have a (RMD)? An RMD is the minimum amount of money you must take out of your account each year.
RMD’s apply to accounts such as:

✔️ SIMPLE, SEP, and Traditional IRA’s
✔️ 403(b)’s, 457(b)’s, and 401(k)’s
✔️ Profit sharing plans
✔️ Other types of defined contributions plans

Be sure you know the rules - improper RMD withdrawal can cost you a 50% penalty.
Source: https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-required-minimum-distributions-rmds

02/24/2022

There are many factors to understanding whether you are on track to meet your for . Want to make sure you’re staying on track? Read our blog to learn more:

There are many factors to understanding how to stay on track to meet all your financial goals for retirement.

02/21/2022

Maybe you’ve got a plan for your finances in . But, do you have a plan for your well-being? The has some suggestions to help you live out your retirement with joy. Sounds simple, right? We want to hear from you: How do you take care of your own well-being?
Source:
https://www.apa.org/monitor/2014/01/retiring-minds

02/18/2022

We are well into , which means more and more individuals are beginning to think about their and what they can do with them. New options pop up all the time, so it’s a good idea to reach out and see what’s being offered right now. Read our full blog to learn more:

We are well into tax season, which means more people are beginning to think about their tax refunds and what they can do with them.

02/15/2022

Thinking about retiring early? You’re not the only one. According to the Pew Research Center, millions more people aged 55-64 in 2021 than ever before.
Before you join them, here’s some things to consider:

✅ – Do you have an income stream that you can’t outlive?
✅ Penalties – Will you incur financial penalties for early withdrawal of your money?
✅ Insurance – won’t cover you until you’re 65. Are there alternatives?
✅ Tax Considerations – Do you think taxes will go up? Which strategies could help fix your income?

There’s many more items to consider before . Get informed to help you make the best choices.

As of the third quarter of 2021, 50.3% of U.S. adults 55 and older said they were out of the labor force due to retirement.

02/10/2022

With approaching, some of you have asked if the payments you receive are taxed. Read our blog of the week to learn more:

With tax season approaching, some of you have asked if the social security payments you receive are taxed.

02/07/2022

Last year, the went up by 7% - that’s the fastest it’s risen in 40 years.
So, what could this mean for your ?
1. Cost of living could rise (more than it already is)
2. Your money doesn’t stretch as far (the dollar buys less than it used to)
But, here’s the good news: you can plan for this. With the right information, you can determine a strategy that matches your . Be sure to learn more about retirement considerations that can help protect your money. Financial knowledge is future power.
Reach out to us: https://towerbridgefinancial.com/contact/
Source: https://www.cnbc.com/2022/01/12/cpi-december-2021-.html

02/03/2022

We often think of in terms of years. We think about how there’s not enough time to do all the things we planned on doing. The same thought of “not enough time” also comes to mind when you lose some of your . Read our full blog to learn more:

We often think of how there's not enough time left to do the things we want. This same thought also applies when we lose some of our savings.

01/31/2022

Traditional IRAs vs :
One key difference is the timing of their tax advantages: lower your tax burden LATER while traditional IRAs reduce your taxable income now.
A factor you may want to consider is what you think your annual income will be during - hence what your will be.
Read more here: https://www.investopedia.com/retirement/roth-vs-traditional-ira-which-is-right-for-you/
or reach out to us with any questions:
(916) 897-9258

01/27/2022

We are often asked, “When is the best time for a widow or widower to collect survivor benefits?” If you or someone you know have questions about this, we may be able to help. Read our full blog to learn more: https://towerbridgefinancial.com/social-security-survivor-benefit/

When is the best time for a widow or widower to collect the social security survivor benefits they have become entitled to?

01/24/2022

Higher rates have led some retirees to consider the threat it may pose to their . So, what can you do now?
Consider Getting in touch with us for more opportunities to protect your retirement income. Calls us at: (916) 897-9258