With summer winding down and as many of our clients are getting their kids ready to go back to school, we are frequently asked, “What’s the smarter choice for the long-term: to add to my retirement fund or pay for my kids’ college?” It’s an entirely reasonable question. Parents are reading headlines about American [...]
Join the Compass Point Retirement Planning team at the 17th annual Newburyport Riverfront Music Festival on Saturday, September 1 from 12 to 6 p.m. We are an event sponsor this year and can’t wait for a day of live, outdoor music with a great lineup: The Aldous Collins Band, Anderson East, Phillip Phillips and the [...]
You probably don’t think much (or ever) about your half birthday, but did you know that turning 70½ really is a big deal? Generally, you are required by the IRS to withdraw a minimum amount from your retirement plan – a required minimum distribution or ‘RMD’ – by April 1 of the year after [...]
For more than 50 years, the city of Beverly celebrates its community with a weeklong series of events during Beverly Homecoming. This year, we join our neighbors in this tradition as a sponsor of Beverly Homecoming. We’ll be at Lynch Park during the ever-popular Lobster Festival on Wednesday, August 1 from 12 to 8 [...]
June is Pride Month, marked with parades, festivals and other celebrations for the LGBTQ communities. Compass Point Retirement Planning is proud to support North Shore Pride in its mission to promote the welfare and unity of the LGBTQ community within the North Shore.Please join us on Saturday, June 23 at the North Shore Pride 2018 Parade [...]
If you have worked and earned sufficient income, you are eligible for Social Security benefits, which include retirement. If you pass away, Social Security also allows for survivor's benefits for your spouse and dependent children. Because Social Security is a federal program, however, it conforms to federal law, including a statute passed in the [...]
Many Americans have a blind spot when it comes to retirement planning: long-term care costs. Even though the majority of Americans will at some point need long-term care, few are planning for it. Many underestimate the costs and mistakenly believe health insurance can help cover it. "This is not like being struck by lightning. It [...]
The $1.2 trillion tax overhaul that was signed into law by President Trump in December 2017 will affect your retirement in a number of ways. The plan no longer includes lowering contribution limits on retirement accounts or nixing traditional individual retirement accounts in lieu of Roth individual retirement accounts, but it does address individual [...]
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