Blog - North Light Financial Services

IRA Dates & Milestones to Remember

IRAs come with complex rules and regulations. As these rules and regulations are occasionally forgotten or misinterpreted by IRA owners, here is a refresher. Age 70½: Required Minimum Distributions (RMDs). Once you reach age 70½, you are required to make withdrawals from any traditional (“regular”) IRAs that you have established. (Original owners of Roth IRAs never have to take RMDs.)1 **You must take your initial RMD from a traditional IRA by April 1 of the year following the year during [...]

By info@northlightfinancialservices.com|2017-03-28T08:17:34-04:00May 24th, 2012|IRA, Retirement|Comments Off

How Much Retirement Income Will You Really Need?

Many people underestimate lifestyle costs, medical expenses and inflation. What is enough? What is not enough? If youre considering retiring in the near future, youve probably heard or read that you need about 70% of your end salary to live comfortably in retirement. This estimate is frequently repeated but that doesnt mean it is true for everyone. It may not be true for you. You wont learn how much retirement income youll need by reading this article. Youll want [...]

By info@northlightfinancialservices.com|2017-03-28T08:17:34-04:00May 10th, 2012|Investing, Retirement|Comments Off

China, its Currency and the Global Economy

Right now, there are dozens of mutual funds and ETFs devoted explicitly to investing in China’s impressive emerging market. Even with the risk of asset bubbles, the promise of China is simply too tantalizing to ignore for many. The question is whether its economy can maintain its powerful momentum in 2012. If not, the impact on global investors could be significant. Is China headed for a soft landing… or a hard one? Recent data out of the PRC has given [...]

By info@northlightfinancialservices.com|2017-03-28T08:17:34-04:00May 10th, 2012|Business/Economic News|Comments Off

What Could That Tax Refund Do For You?

Is a tax refund coming your way? If you have already received your refund for 2012 or are about to receive it, you might want to think about the destiny of that money. Here are some possibilities: Start (or add to) an emergency fund. Many people don’t have a dedicated rainy day fund, only the presumption that they might have enough cash in case of a financial tight spot. Pay down debt. Always a smart choice. Invest in yourself. You [...]

By info@northlightfinancialservices.com|2017-03-28T08:17:34-04:00April 13th, 2012|Financial Fitness|Comments Off

Getting off on the Right Foot in 2012: Estate & Gift Taxes

At the end of 2012, some very nice estate tax breaks could sunset. Barring action by Congress, 2013 could see a 20% leap in the federal estate tax rate from 35% to 55%. The individual estate tax exclusion (currently $5.12 million) is scheduled to be reduced to $1 million.1 As we have unified gift and estate tax rates, those numbers and percentages also apply to gift taxes. That is, from 2012 to 2013 top federal gift tax rate is set [...]

By info@northlightfinancialservices.com|2017-03-28T08:17:34-04:00February 21st, 2012|Estate Planning|Comments Off