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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![[Senior Planet] Life Insurance: Forgotten Financial Tool Thumbnail](https://static.twentyoverten.com/5e9707abce710223d53221db/iwjy3E7Oj/LIFE-INSURANCE-SENIOR-PLANET.png)
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.
![[Senior Planet by AARP] New Rules in Estate Planning Thumbnail](https://static.twentyoverten.com/5e9707abce710223d53221db/ANJZHRyFaCy/Senior-Planet-from-AARP-New-Rules-in-Estate-Planning.png)
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...
There are two pieces of legislation -- SECURE 2.0 and Build Back Better -- we will be watching closely over the coming months and providing updates because they will impact retirement planning in the future.
Right now is a great time to review your year-end financial planning strategies. It's imperative to get things in order and identify areas you'd like to discuss with your financial professional. That way, you will be ready for 2022 and beyond.
![[Rethinking65] 2022 Retirement Strategies that Avoid Disaster Thumbnail](https://static.twentyoverten.com/5e9707abce710223d53221db/aeaAvilkXpI/TOOLBOX-BHenderson-2022-outlook-art-new.jpg)
Here's how Retirement Planning Advisors can help their clients avoid big mistakes in 2022 by preparing intentional and proactive plans.
Here are 4 math and science-based financial moves you should be looking at to get your retirement on track this year.