These are notes from a finance class offered at the church. Any misinformation is the fault of the note taker.

– Investment: want to get good return.
– Includes fees and costs.
– Savings, mutual funds mutual markets less rick. Savings do not keep up with inflation.
– Qualified money sep: 401K 403b, tsp, pension (lump sum) Roth IRA.
– Non-qualified: CDs stock, mutual funds, bonds.
– At 70 1/l2 age 70 expect 27.4 . First yr. you can delay first year for one yr.
– You can spend RMDs use it anyway you want. Rmd: require minimum distribution
– Never put an IRA in a trust. Dramatic tax increase.
– 401 K rollover:
– 1. Separate from employer.
– 2. Over 59 ½ take even if still employed.
– 3. Disabled.
– 4. Tactical managed account> assets. Drops in stock market, your money goes to cash.
– Lazy money; a lot of CDs. Monad have a duration.
– Risks of retirement: – Living longer.
– Catastrophic Illness: (when you need long-term care) 50% is in assisted living.
– Be very careful of averages.
– Cost 5-6K a yr.
– Medicate for those who are in poverty level. If you don’t have assets.
– Reverse mortgage> do as an income not as a lump sum
– Advance directives:
– Do while you competent.
– Last will and testament.
– General power of attorney (limited control as long as you’re healthy)
– Durable power of attorney for health care.
– Medical proxy or living.
– Revocable living trust:
– Cover your basic expense with guaranteed with lifetime income.
– 2. Optimize the rest of your portfolio to protect you from inflations & losses.

Do you have something to add? If you do, please share in the comment section of this blog.