Do you have a 5/10/20 Year Retirement Plan?

Think your expenses will drop in retirement? Don’t count on it!

Tips for a planning ahead on your retirement plan

5-10-20 year retirement plan“In the first two years of retirement, 28.0 percent of households spent more than 120 percent of their pre-retirement spending. By the sixth year of retirement 23.4 percent of households still did so.”1 

If you’re 5 years away from retirement:

  • Make a list of retirement “needs” and “wants.” If you do not have enough savings for all your “needs,” make a five-year plan to increase your funds.

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TJ Hurst Joins C&J Wealth Advisors

TJ Hurst

C&J Wealth Advisors, an independent, fee-based wealth management firm, has announced that TJ Hurst has joined the firm as an Associate Financial Planner. He will help further develop their growing portfolio of clients in the Knoxville and Oak Ridge, Tennessee areas.

Hurst has a business development background in the banking industry. “I look forward to advancing my financial career with a well-respected, client-focused firm and a team of certified professionals,” comments Hurst. He holds an MBA from the University of the Cumberlands Hutton School of Business and a B.S. in Administration from the University of the Cumberlands.

Mark King, President of C&J Wealth Advisors, said, “TJ’s dedication to expanding his financial knowledge and experience are key to his success. He brings the enthusiasm to seek new clients and expand our client demographics.”

3 Required Minimum Distribution Mistakes

Required Minimum DistributionIt’s that time of year if you are an IRA owner age 70 ½ or older. You must take your required minimum distribution (RMD) before the end of the year. Not taking your RMD or the correct amount can result in crippling penalties, which is why we cover this topic in great detail at The Slott Report.

Here are three RMD mistakes you must avoid. Remember, it’s not too late to take your RMD, just make sure you do it correctly with the assistance of a competent, educated financial advisor like those who train in this specialized area.

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