Month: December 2019

401(k) Loan Repayment

Dec 30, 2019

Man holding a gold bag named 401K
A longer repayment time can be an advantage.

The conventional wisdom about taking a loan from your 401(k) plan is often boiled down to: not unless absolutely necessary. That said, it isn’t always avoidable for everyone or in every situation. In a true emergency, if you had no alternative, the rules do allow for a loan, but they also require a fast repayment if your employment were to end. Recent changes have changed that deadline, offering some flexibility to those taking the loan. (Distributions from 401(k) plans and most other employer-sponsored retirement plans are taxed as ordinary income, and if taken before age 59½, may be subject to a 10% federal income tax penalty. Generally, once you reach age 70½, you must begin taking required minimum distributions.) (more…)

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Taking Charge of Your Financial Life

Dec 27, 2019

Arrows pointing down a street
Delegating responsibilities to others may lead to problems down the road.

When you are putting together a household, it isn’t unusual to delegate responsibilities. One spouse or partner may take on the laundry, while another takes on the shopping. You might also decide which one of you vacuums and which one of you dusts. This is a perfectly fine way to divvy up household tasks and chores.

One household task it’s valuable for both partners to take part in, however, is your shared financial life. It’s important, regardless of your level of wealth or stage of life. Counting on one spouse or partner to handle all financial decisions can create a gap for the other partner. (more…)

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Pension Plans & De-risking

Dec 25, 2019

Intersection of What's next
Corporations are transferring pension liabilities to third parties. Where does this leave retirees?

A new term has made its way into today’s financial jargon: de-risking. Anyone with assets in old-school pension plans should know what it signifies.

De-risking is when a large employer hands over its established pension liabilities to a third party (typically, a major insurer). By doing this, the employer takes a sizable financial obligation off its hands. Companies that opt for de-risking usually ask pension plan participants if they want their pension money all at once rather than incrementally in an ongoing income stream. (more…)

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The Major Retirement Planning Mistakes

Dec 23, 2019

Coffe spilled over retirement plans
Why are they made again and again?

Much is out there about the classic financial mistakes that plague start-ups, family businesses, corporations, and charities. Aside from these blunders, some classic financial missteps plague retirees.

Calling them “mistakes” may be a bit harsh, as not all of them represent errors in judgment. Yet whether they result from ignorance or fate, we need to be aware of them as we plan for and enter retirement. (more…)

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Dove’s Nest – Charlotte Rescue Mission

Dec 21, 2019

It was such a privilege to be the group that assembled the gift bags that were opened on Christmas morning by the women and children at Dove’s Nest. It was a clear reminder that the Christmas season truly is about giving, not just presents, but giving of one’s self for others, sharing our time and hearts and doing what we can to lift others up, to empower them, and to give them the dignity they deserve no matter their circumstances or life story. It’s also a perfect time to reflect on how blessed we are, and how grateful we are for the families that we serve doing the work we do at Epic Capital.

Dove’s Nest, Charlotte Rescue Mission’s cost-free women’s recovery program provides a structured yet loving and stable living environment aimed at helping women understand and deal with the core issues of addiction as a disease. The 120-Day program welcomes mothers with their children and focuses on spiritual, physical, social and psychological recovery, to help women understand and deal with the core issues of their alcohol and/or drug addiction. If you’d like to learn more about this extraordinary facility and program, please visit their website or give them a call @ 704-333-4673.



Fixed Index Annuities

Dec 20, 2019

Dropping money in a piggy bank
What are they? How do they work?

What is a fixed index annuity? Don’t let the investment jargon put you off, Fixed Index Annuities are simpler than they sound. A Fixed Index Annuity is a tax-favored accumulation product issued by an insurance company. However, unlike fixed deferred interest rate annuities, a Fixed Index Annuity’s annual growth is tied to a market index like the Standard & Poor’s 500 rather than an interest rate. (more…)

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Four Words You Shouldn’t Believe

Dec 18, 2019

The word Learn
These are the words that make investors irrational.

“This time is different.” Beware those four little words. They are perhaps the most dangerous words an investor can believe in. If you believe “this time is different,” you are mentally positioning yourself to exit the stock market and make impulsive, short-sighted decisions with your money. This is the belief that has made too many investors miss out on the best market days and scramble to catch up with Wall Street recoveries.

Stock market investing is a long-term proposition – which is true for most forms of investing. Any form of long-range investing demands a certain temperament. You must be patient, you must be dedicated to realizing your objectives, and you can’t let short-term headlines deter you from your long-term quest. (more…)

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A Retirement Facts Sheet

Dec 16, 2019

Chalkboard with Retirement Fact Sheet
Some specifics about the “second act.”

Does your vision of retirement align with the facts? Here are some noteworthy financial and lifestyle facts about life after 50 that might surprise you.

Up to 85% of a retiree’s Social Security income can be taxed. Some retirees are taken aback when they discover this. In addition to the Internal Revenue Service, 13 states currently levy taxes on some or all Social Security retirement benefits: Colorado, Connecticut, Kansas, Minnesota, Missouri, Montana, Nebraska, New Mexico, North Dakota, Rhode Island, Utah, Vermont, and West Virginia. (West Virginia, incidentally, is phasing out such taxation.) (more…)

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New I.R.S. Contribution Limits

Dec 13, 2019

The word Update
Changes for 2020

The I.R.S. just increased the annual contribution limits on IRAs, 401(k)s, and other widely used retirement plan accounts for 2020. Here’s a quick look at the changes. (more…)

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Creating a Retirement Strategy

Dec 11, 2019

The word Plan
Most people just invest for the future. You have a chance to do more.

Across the country, people are saving for that “someday” called retirement. Someday, their careers will end. Someday, they may live off their savings or investments, plus Social Security.  They know this, but many of them do not know when, or how, it will happen. What is missing is a strategy – and a good strategy might make a great difference.

A retirement strategy directly addresses the “when, why, and how” of retiring.It can even address the “where.” It breaks the whole process of getting ready for retirement into actionable steps. (more…)

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High net worth investors face investment challenges that some would consider unique to their financial status. The fundamental tenets of investing apply just as equally to them as any other investor, but these investors need to be mindful of issues that typically arise only from substantial wealth. Let’s examine a few of these.

Jul 28, 2021

Corporate earnings season has begun, and the results are turning heads on Wall Street. Of the 120 companies in the S&P 500 index that reported numbers as of Friday, July 23, 89% of them beat the Street’s earnings-per-share estimates by an average of nearly 21%.1

Jul 26, 2021

Given the threat of COVID-19, seniors today may be considering their eldercare alternatives with extra caution. In addition to health factors, the cost can be an issue. According to Genworth’s 2020 Cost of Care Survey, the median annual cost of a semi-private room in a nursing home is now $90,000. A single-occupancy room may cost … Continue reading “Eldercare Choices in the COVID-19 Era”

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