South Shore Retirement Services Blog

Transcript Episode 134: The Roth IRA

By SEO SSRS | October 21, 2022

Listen to this Podcast In this Episode: Roth IRAsWhat will the future be like from a tax standpoint?Inheriting a Roth IRAThe Contributing 5-year ruleThe Converting 5-year ruleWith the 5-year rule,…

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Found Money: Do You Have Assets Sitting in Forgotten Retirement Accounts?

By Mark Rowlette | June 29, 2022

It may sound hard to believe, but I frequently help clients find money that they didn’t know existed (or just plain forgot about.) The majority of this “found money” is…

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Don’t Fall for these 3 Common Money Myths 

By Mark Rowlette | February 11, 2022

In a time when everyone is an “expert,” it’s hard to distinguish between fact and fiction. Opinions can be helpful, but when they are delivered as fact, that’s when things…

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Inflation and Your Retirement: What You Can Do to Prepare

By Mark Rowlette | January 28, 2022

It’s no secret that in the last six months we’ve noticed a significant hit to our budgets by way of inflation. The annual inflation rate for 2021 spiked to 7%…

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Important Questions to Ask When Considering a Financial Advisor

By Mark Rowlette | January 14, 2022

A common financial misconception in the world is that only people with loads of money need a financial advisor. But that couldn’t be farther from the truth. While getting a…

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How to Run a Retirement Dress Rehearsal

By Mark Rowlette | November 12, 2021

As time marches on, I can’t help but think of our lives at the end of 2020. We were all in semi-lockdown planning for a bizarre holiday season. While our…

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6 Milestone Retirement Ages You Should Know

By Mark Rowlette | September 24, 2021

We’re all familiar with the idea of “milestone birthdays.” In your younger years, you look forward to finally becoming a teenager at 13, getting your license at sweet 16, or…

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The State of Other States: Relocating in Retirement

By Mark Rowlette | September 17, 2021

I was recently chatting with a friend about the pros and cons of moving to more tax-friendly states upon retirement. She wanted to know which state was the most popular…

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Tikis & Taxes: Tax Planning in Retirement

By Mark Rowlette | September 10, 2021

Every year on the coldest day of winter, I get a call from a group of clients in Florida. This flock of “snowbirds” (retirees who migrate south for the winter)…

Read More

Transcript Episode 134: The Roth IRA

By SEO SSRS | Oct 21, 2022

Listen to this Podcast In this Episode: Roth IRAs What will the future be like from a tax standpoint? Inheriting a Roth IRA The Contributing 5-year rule The Converting 5-year rule With the 5-year rule, there’s no tax on the gain. At age 72, no required minimum distribution.and you don’t have to take the money out. Leave it to the next generation, and they’ll get it tax free. Distributions: contributions first, conversions second, gains third…

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Found Money: Do You Have Assets Sitting in Forgotten Retirement Accounts?

By Mark Rowlette | Jun 29, 2022

It may sound hard to believe, but I frequently help clients find money that they didn’t know existed (or just plain forgot about.) The majority of this “found money” is sitting in retirement plans with former employers. And, not surprisingly, these former employers aren’t going to beat down your door to reacquaint you with your funds. You might have to do a little digging. So, how do you know if there’s an orphaned account sitting…

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Don’t Fall for these 3 Common Money Myths 

By Mark Rowlette | Feb 11, 2022

In a time when everyone is an “expert,” it’s hard to distinguish between fact and fiction. Opinions can be helpful, but when they are delivered as fact, that’s when things get dangerous.  Much like the game of telephone, money myths are born out of an original message that is altered slightly as it gets passed from person to person. This phenomenon creates a group mindset, and it happens everywhere—especially in the world of personal finance.…

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Inflation and Your Retirement

Inflation and Your Retirement: What You Can Do to Prepare

By Mark Rowlette | Jan 28, 2022

It’s no secret that in the last six months we’ve noticed a significant hit to our budgets by way of inflation. The annual inflation rate for 2021 spiked to 7% in December from the same month a year earlier, the fastest climb we’ve seen in the last 40 years. You didn’t even need to read the headlines to know something was up. Your wallet undoubtedly took repeated hits buying gas, food, clothes, etc. We can…

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Retired couple meeting with their financial advisor

Important Questions to Ask When Considering a Financial Advisor

By Mark Rowlette | Jan 14, 2022

A common financial misconception in the world is that only people with loads of money need a financial advisor. But that couldn’t be farther from the truth. While getting a professional’s advice is important in any field, it’s especially relevant when it comes to your financial well-being and confidence. For example, I could probably figure out how to build a back deck on my house, but if I hire a contractor, I have the assurance…

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Run a Retirement Dress Rehearsal

How to Run a Retirement Dress Rehearsal

By Mark Rowlette | Nov 12, 2021

As time marches on, I can’t help but think of our lives at the end of 2020. We were all in semi-lockdown planning for a bizarre holiday season. While our global timeout had more than its share of drawbacks, it also provided us with a merciful sneak peek of what our retirement could be, and an opportunity to tweak it if we felt we were on the wrong track. For example, maybe the initial thought…

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Retirement ages you should know

6 Milestone Retirement Ages You Should Know

By Mark Rowlette | Sep 24, 2021

We’re all familiar with the idea of “milestone birthdays.” In your younger years, you look forward to finally becoming a teenager at 13, getting your license at sweet 16, or (in America) toasting turning 21 with a glass of champagne. Once you get beyond 21, however, the milestone birthdays are less varied and are simply noting a new decade: 25, 30, 40, 50. It isn’t until you get closer to retirement age, that the varied…

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Relocating in retirement plan

The State of Other States: Relocating in Retirement

By Mark Rowlette | Sep 17, 2021

I was recently chatting with a friend about the pros and cons of moving to more tax-friendly states upon retirement. She wanted to know which state was the most popular with my relocating clients and what prompted them to move. Now, I’ve been in this business for almost 25 years and I can say for certain that there is rarely just one reason why retirees decide to relocate. Financial benefits like fewer taxes and a…

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Tax Planning in Retirement

Tikis & Taxes: Tax Planning in Retirement

By Mark Rowlette | Sep 10, 2021

Every year on the coldest day of winter, I get a call from a group of clients in Florida. This flock of “snowbirds” (retirees who migrate south for the winter) gleefully calls to report they’re enjoying afternoon cocktails at a tiki bar, while I’m trying to keep warm in frosty New England.  I know this teasing is all in good fun, and I actually love hearing from them. Goal setting can make designing a retirement…

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Working in retirement

3 Benefits to Working in Retirement

By Mark Rowlette | Sep 3, 2021

After the chaos of the pandemic, most of us are eager for normalcy to return to our lives and getting back to the routine of seeing our families, having dinner with friends, traveling, etc. But as many companies return to the office or rollout plans to return soon, some workers are saying “not so much.” They’re reevaluating their options, changing careers, starting their own ventures, or simply not going back to an office 9-5 every…

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Top Retirement Worries

Top Retirement Worries and How to Address Them

By Mark Rowlette | Aug 27, 2021

Over the past 24 years, I’ve spoken with many people whose retirement worries are crippling. They’re often paralyzed with fear about the what-ifs of retirement: What if I run out of money? What if I need more money for the things that I want to do? What if inflation is out of control?  What if the market tanks?  What if I get bored?   What if I don’t feel comfortable withdrawing the money I need to…

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widow's penalty

What is the Widow’s Penalty?

By Mark Rowlette | Aug 13, 2021

Death is a harsh reality of life. It’s the worst part of my line of work. Unfortunately, since I’ve been doing this for a long time, I’ve had a number of clients who became good friends pass away. It’s awful. It’s hard. And it’s unavoidable. The least we can do is help make that transition as smooth as possible for the loved ones left behind. When someone dies, he or she likely leaves somebody behind,…

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Retired couple consulting with real estate agent

7 Common Retirement Questions to Ask

By Mark Rowlette | Jul 30, 2021

Questions. Retirement is chockful of questions and knowing the right ones to ask is half the battle. Also of importance: knowing where to turn, whom to trust, and when to act (and how). It can be daunting, to say the least. So, what’s a person to do? For starters, don’t go it alone. Start getting answers to any retirement questions you have. All too often I hear stories of folks who tried to manage everything…

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