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LISTEN, UNDERSTAND, RESEARCH, HELP. Money management has a new reality. Financial-planning efforts must consider “the whole client.” We offer a multi layer approach that starts with education. We strive to gain your trust then deliver the results you seek. At Gelinas Financial Group, Inc., our passion is supporting our clients by adding value: You need information to make correct decisions. We’ll help you achieve higher levels of success and better process management through cutting-edge solutions, training, mentoring, and continuing education. Our objectivity and independence mean you get the financial-planning and risk-management solutions that meet the unique demands of your present situation. We offer our expertise in the following areas: Financial Planning Retirement Planning Insurance Investment Coaching Annuities More Hope is not a strategy. We meet with our clients regularly to scrutinize their investments and make adjustments.
Managing RMD's
Gelinas Financial Group, GA, AnnuitiesRMDs have always been a problem for most retirees when they reach their 70 and a half year of age. Actually, four out of ten people who were supposed to make withdrawals from their accounts have yet to do so and that puts them in danger for a tax penalty which is pretty harsh. 50% of the amount that was supposed to be withdrawn from the accounts will be taxed to them. This tax penalty is something a retiree needs to avoid at all costs. For better results, here are some tips on how to manage RMDs without making retirees fuss all about it. First of all, a retiree should find a company that can auto-pilot your IRA distributions. Fidelity has been offering this service for automatic withdrawals to its clients. This can definitely make a retiree relax a lot more because the company will be the one to make withdrawals for them and store the funds safely without making their clients worry. During the tax year of 2013, almost half of the company's 500,000 Individual Retirement Account owners were signed up and everything went better from there. The other half still has not taken out money from their accounts which resulted in a waste of a lot of money that they simply forgot to use. There is another solution though for managing RMD and it can also help lives in the process. A retiree can give gifts to charities directly from his or her IRA. The gifts that the individual will give will be counted toward that person's RMD. This is another good solution for those who do not want their money to be wasted on unnecessary taxes. Using this method, the funds that will be withdrawn can be used for better solutions for the community and for many charities worldwide. A retiree can read up on some of the mechanics for giving RMD funds to charity on the Fidelity website. Managing RMDs is such a hard task to do especially if a retiree is at an age where the body is weak and it will be hard to move around. With these solutions, managing RMDs will be faster as well. The second option will also make an individual's RMDs more useful.  Sources: http://www.forbes.com/sites/ashleaebeling/2013/12/19/a-solution-to-the-ira-required-minimum-distribution-blues/ https://www.schwab.com/public/file/P-1624444/Final_RMD_Guide.pdf http://www.woodwellasset.com/Required-Minimum-Distributions.c1288.htm
Shawna Kreis
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