Gaughan & Connealy Estate Planning Attorneys

Although, generally speaking, you can access your IRA at any point, the issue is whether you will be charged a penalty.  Because an IRA is meant to be a "retirement account," the laws are made to discourage you from raiding your IRA funds until retirement.  However, as with nearly everything, there are exceptions.Planning Your Retirement with IRAsHave you created your retirement plan yet?  It's not too late to start.  If you want a comfortable retirement, you can't simply rely on your Social … [Read more...] about When Should Kansas City Residents Access Their IRAs?

According to at least one article, there are many reasons to retire in Missouri. But what good is finding a great place to retire if you don’t have sufficient financial resources to do so comfortably? If you haven’t created your retirement plan yet, it’s not too late. Instead of relying on Social Security Benefits, you can have a comfortable retirement if you engage in comprehensive retirement planning. Individual Retirement Plans (IRAs) are an easy way to start your plan while saving and … [Read more...] about If You Want to Retire in Missouri, Be Prepared!

Are you more worried than excited about the idea of retiring?  You don’t need to be.  The most common concern is whether you have saved enough to be able to retire safely and comfortably.  So, if you are wondering – can I retire now? Here are the most important things you need to consider to start saving and to be sure you have an appropriate retirement plan in place to secure your future.You first need to have reasonable retirement goalsOne of the first issues that arises for clients when … [Read more...] about Can I Retire Now?

If you haven’t started working on retirement planning yet, you still have time but you should get started now. To have a comfortable retirement when the time comes, you should not simply count on your Social Security benefits.  Instead, you should create an appropriate retirement plan to meet your future needs and give you the comfort and security you will need in your golden years. One of the best ways to start your plan is to establish an Individual Retirement Account (IRA) to help you save … [Read more...] about Should I Use an IRA in My Retirement Planning?

Even if you already have a traditional IRA, you may not realize that you have other options available, such as converting your traditional IRA to a Roth IRA. You can also make this conversion with an employer-sponsored IRA. In fact, it is rather easy to make this conversion and there are numerous benefits in doing so.  Regardless of whether you are looking to transfer your entire retirement account balance or just a portion of the funds, here is what you need to know about converting to a Roth … [Read more...] about Should I Convert to a Roth IRA?

There are four kinds of IRAs with various benefits.  Traditional and Roth IRAs are established by individuals, whereas Simplified Employee Pensions (SEPs) and Savings Incentive Match Plan for Employees (SIMPLE) are sponsored by employers. Regardless of the type you choose, all IRAs are “fully vested.” This means all of the contributions you make and earnings you accumulate belong to you, including the contributions made by your employers. If you are considering opening a Roth IRA, here is what … [Read more...] about Everything You Need to Know About a Roth IRA

If you ever find yourself in financial distress, you may consider whether to file for bankruptcy. For most people, when that happens, it is common to be concerned about losing your property. One particular concern is whether bankruptcy will affect your retirement planning? Put another way, you may be concerned about whether you can keep your retirement benefits, which you worked so hard to obtain. Luckily, certain retirement benefits are protected from bankruptcy, depending on how you handle … [Read more...] about Will Filing Bankruptcy Affect my Retirement Planning?

According to a recent article, director of Kansas City Regional Arts Council, Paul Tyler, retired in May after 14 years. As director, Tyler worked diligently to create relationships between individual artists and the organizations that support them.  In the article, Tyler was said to have based his work on the web of cultural institutions and strong community connections that already existed in the Kansas City area.“There’s deep, deep roots to the creativity and the energy that we currently … [Read more...] about Director of Kansas City Regional Arts Council Retires