The Helper locomotive is there to assist trains to get over steep grades. This blog serves the same purpose. It is here to help give ideas to get you over those steep financial grades that lie ahead of you. I hope you enjoy!
Watch this episode of the Highball Advisors Railroad Retirement Whiteboard to learn the 7 mistakes railroaders can make when it comes to their estate plan.
Understand why it is important to have an Estate Plan in place for Railroad Retirement
Understand the very important topic of planning for diminished capacity in your Railroad Retirement.
Learn about strategies for taking your employer insurance with you when you leave for Railroad Retirement.
Railroaders should understand the importance of insurance in protecting their plans. Watch this video to understand how you should be evaluating your insurance needs.
Understand the Railroad Retirement benefits afforded your family in case you aren't there anymore. Learn how the Family Maximum is calculated when your family starts receiving your Survivor Annuity.
Unless your life never changes which is doubtful. Railroaders should be reviewing their Estate Plan annually. Watch the different scenarios when you should be updating your documents.
Learn the six important estate planning documents railroaders should have to protect their families and their railroad retirement.
With the SECURE Act now in effect, the tax advantages of sheltering retirement accounts in trusts has gone away. The Stretch IRA is no more and all inherited IRAs no matter where they are must be emptied in 10 years. Learn when trusts are still appropriate and when they are not in Railroad Retirement.
If you are leaving or have left the railroad before the start of your Railroad Retirement annuity then you need to watch this video. I discuss a strategy you can use to protect your Survivor Annuity for your beneficiaries in case something unfortunately happens to you before retirement.