Tax and Income Planning:
We can’t begin to stress the absolute importance of pre- and post
retirement tax and income planning for your family. We’ve seen entire
estates dissolved to pay Federal and State estate taxes. We’ve seen
people run out of retirement money because they thought they had
enough to live on…but outlived it.
retirement tax and income planning for your family. We’ve seen entire
estates dissolved to pay Federal and State estate taxes. We’ve seen
people run out of retirement money because they thought they had
enough to live on…but outlived it.
Without proper planning, all of the time you’ve spent saving for retirement
can go up in tax smoke to Uncle Sam or Medicaid. If you haven’t
planned your retirement income properly, you may find yourself back at
work asking, “Would you like paper or plastic?” (Not to be ugly here…I
really feel for those retirees).
can go up in tax smoke to Uncle Sam or Medicaid. If you haven’t
planned your retirement income properly, you may find yourself back at
work asking, “Would you like paper or plastic?” (Not to be ugly here…I
really feel for those retirees).
Here are the challenges:
The Tax Bomb: Our baby-boomers have saved up 2 trillion dollars of
retirement money… only to find out that there is a retirement time-bomb
waiting to blow up in their face (see the article on Pension and IRA
Distributions). The original 401(k) and IRA plan regulations took fifteen
years and 155 pages to be clarified…by the people who wrote them!
Ignore them and you might be passing a tax bomb to your spouse or
your heirs.
We’re Living Longer: Due to extended life expectancies, it is
estimated that one out of two of us will end up needing nursing home
care. The average cost of that care is $70,000 per year, with the average
stay being two and one-half years.
Outliving Income: We are projecting income flow for retirees and
seeing that many people would outlive their retirement income. Proper
planning can avoid this and also avoid cutting back on one’s lifestyle just
to pay the light bill. No joke here.
Estate Planning: one of our clients contracted cancer and asked us to
review his estate planning. His previous attorney ignored the fact that the
man’s land had appreciated to $15 million. The bomb? After his spouse
passed away, the children would be looking at a $5 million tax bill. We
got him to one of the best estate attorneys in the region and the bill is
down to $0.
The Tax Bomb: Our baby-boomers have saved up 2 trillion dollars of
retirement money… only to find out that there is a retirement time-bomb
waiting to blow up in their face (see the article on Pension and IRA
Distributions). The original 401(k) and IRA plan regulations took fifteen
years and 155 pages to be clarified…by the people who wrote them!
Ignore them and you might be passing a tax bomb to your spouse or
your heirs.
We’re Living Longer: Due to extended life expectancies, it is
estimated that one out of two of us will end up needing nursing home
care. The average cost of that care is $70,000 per year, with the average
stay being two and one-half years.
Outliving Income: We are projecting income flow for retirees and
seeing that many people would outlive their retirement income. Proper
planning can avoid this and also avoid cutting back on one’s lifestyle just
to pay the light bill. No joke here.
Estate Planning: one of our clients contracted cancer and asked us to
review his estate planning. His previous attorney ignored the fact that the
man’s land had appreciated to $15 million. The bomb? After his spouse
passed away, the children would be looking at a $5 million tax bill. We
got him to one of the best estate attorneys in the region and the bill is
down to $0.
| John Rukosky of Rukosky & Associates |
We believe there is a critical difference
between our firm and others that
perform only financial planning: while
others will refer you to a tax advisor
after having designed a financial plan
for you, at Rukosky & Associates
Financial Group Inc. you are
consulting with a tax accountant, so
we know your plan will succeed.
between our firm and others that
perform only financial planning: while
others will refer you to a tax advisor
after having designed a financial plan
for you, at Rukosky & Associates
Financial Group Inc. you are
consulting with a tax accountant, so
we know your plan will succeed.
508 Driewood Court
Raleigh, NC 27609
Office: 919.781.9319
Mobile: 919.906.4234
Fax: 919.791.0990
Email: john@rafginc.com
Raleigh, NC 27609
Office: 919.781.9319
Mobile: 919.906.4234
Fax: 919.791.0990
Email: john@rafginc.com
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