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RichLife Advisors is dedicated to being your go-to resource for information needed to make informed decisions about all aspects of retirement. Founder and visionary, Beau Henderson, has dedicated his life to helping others plan for theirs through his many bestselling books, serving as a local and national media resource, hosting educational events, writing regular blogs, and hosting weekly radio and podcast shows.

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[Forbes Advisor] What Is A Retirement Income Certified Professional (RICP)? Thumbnail

[Forbes Advisor] What Is A Retirement Income Certified Professional (RICP)?

Since there aren’t many do-overs when it comes to your retirement income, the most important thing is that you are confident that your financial advisor has the training and skills to help you maximize your income while reducing your tax liability so you have enough money in the decades following your retirement. If you're within 10 years of retiring, you'll benefit most from working with an RICP. The earlier you engage an RICP inside that window, the better. Not sure if you should change advisors? This article in Forbes Advisor details the differences between CFPs, CRPCs and RICPs and how they can help you make sure your hard-earned savings last as long as you do.

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[NextAdvisor in Partnership with Time] If You’ve Inherited an IRA or Will in the Future, This New IRS Proposal Could Mean Hefty Taxes Thumbnail

[NextAdvisor in Partnership with Time] If You’ve Inherited an IRA or Will in the Future, This New IRS Proposal Could Mean Hefty Taxes

If you're the beneficiary of an inherited IRA, the IRS is proposing changes to inherited IRA rules that could have significant tax implications for you. The problem is that no one knows exactly when those changes are going into effect and the impact they will have. NextAdvisor recently published an article detailing the proposed changes and how they could possibly affect beneficiaries if they are passed into law.

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[Senior Planet] Life Insurance: Forgotten Financial Tool Thumbnail

[Senior Planet] Life Insurance: Forgotten Financial Tool

Life insurance should be a key component of your financial plan, especially for retirees and pre-retirees. For very specific goals and needs, it can be the best tool to use. It can provide tax-free income for your children and grandchildren, replacement income in the event of the death of a spouse, be an additional source of retirement income for high-net worth individuals and even help your heirs pay estate taxes.

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[Senior Planet by AARP] New Rules in Estate Planning Thumbnail

[Senior Planet by AARP] New Rules in Estate Planning

The Secure Act changed the rules for non-spousal inherited retirement accounts. Prior to its passage, beneficiaries of a non-spousal inherited retirement account could stretch out distributions from that account based on their own life expectancy. Now, non-spouse beneficiaries have 10 years to take the distributions after the original owner’s death. And, this change has created a lot of unintentional tax complications for the beneficiary. Recently I shared some of my ideas with Senior Planet about creating a distribution strategy to effectively navigate the tax brackets and avoid paying unnecessary taxes. You can learn more right here...

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