3 Policies That Might Influence Your Plans to Retire

Jun 12,2014

There’s a flurry of activity in D.C. lately that might have an influence on your retirement plans. The proposed Obama budget has some important considerations inside for IRAs and Social Security. To start with, the plan suggests “harmonizing” required minimum distribution rules making mandatory RMDs for Roth IRAs after the individual passes age 70 ½. As of now, Roth IRAs still offer unique benefits since they are not in line with other rules on RMDs in retirement accounts.

3 Policies That Might Influence Your Plans to Retire
(Photo Credit:

A second proposal inside the budget suggests a cap on IRAs that would limit what an individual can put into the vehicle once they have surpassed a “secure retirement” stage. This would influence wealthy individuals and could reduce opportunities for roll-over from an employer sponsored plan.

Finally, the government aims to explore ways in which to maximize Social Security benefits. Currently, some retirees are able to get the most out of Social Security with claiming strategies, but the government wants to reduce any windfalls and use those savings to help make the Social Security program more solvent.

As always, tax, retirement, and estate planning are subject to change often- and they do. These proposed changes could influence your own plans. Staying on top of the game by working with a qualified planner “in the know” can ensure that you’re getting the most out of your plans. To learn more, email or contact us via phone at 732-521-9455 to get started.

The Fifteen Best Countries for Overseas Retirement in 2014

Jun 12,2014

It is not uncommon for Americans to spend significant time away from their home state in order to take advantage of more favorable living conditions. Be it to live for less, for diversity investments, or to simply enjoy one last adventure, more and more Americans are choosing to retire abroad. A recent article discusses the 15 best countries for Americans to retire in 2014.

The Annual Global Retirement Index created the list based on a series of factors, including the price of necessary goods and services such as groceries and utilities, average temperature, and friendliness of the locals. As executive editor Jennifer Stevens explains, the list is “designed to be a real-world snapshot of the places we deem most worth a potential-retiree’s attention today.”


Topping the list for 2014 is Panama. As Stevens explains, Panama offers American retirees a “great combination of variety and value…No matter what it is you’re hoping to find, Panama is a good place to look for it.” The remaining rankings are as follows: (2) Ecuador, (3) Malaysia, (4) Costa Rica, (5) Spain, (6) Colombia, (7) Mexico, (8) Malta, (9) Uruguay, (10) Thailand, (11) Ireland, (12) New Zealand, (13) Nicaragua, (14) Italy and (15) Portugal.

Taking advantage of overseas options does not always mean changing your place of residence, but precautions should be taken to make sure that your estate plan is appropriately adjusted for your travel. To determine your unique considerations before booking your tickets, consult with a qualified estate-planning attorney.


The law firm of Shah & Associates, P.C. © 2021 All Rights Reserved.