Proposed changes to Retirement Plans.  The coming federal budget will include a few changes to retirement accounts, including a new retirement plan called the myRA.

Almost half of all marriages end in divorce.  This article discusses the rules on divorce and social security with the goal of helping you maximize your benefits.  Before filing for social security, you should get the facts on your marriage(s) durations and divorce dates.  

If you withdraw money from your individual retirement account before age 59 1/2, you will generally have to pay a 10 percent early withdrawal penalty in addition to income tax on the amount withdrawn. This means a $5,000 withdrawal taken by a mid-career worker in the 25 percent tax bracket would result in $1,750 in taxes and penalties. But there are a variety of ways to avoid the IRA early withdrawal penalty if you meet specific criteria:

In  many divorces,  retirement  plans  are  the  parties’  most  significant  asset.    

Pension benefits and retirement savings often constitute a client’s most valuable assets, and are viewed as a safety net.