Blog

At Reed Financial Planning Services, LLC, we focus on working with people ages 50 and older to help them plan for retirement, aging in retirement and estate planning.  For those of you who are still working and over the age of 50,...

Who among us wants to pay the IRS more taxes than we have to? While few may raise their hands, Americans regularly overpay because they fail to take tax deductions for which they are eligible. Let's take a quick look at the five most...

The CT Teachers' Pension COLA Doesn't Add Up

Scott Reed, AIF®, CEP®, RICP®

Monday, March 20, 2023

At Reed Financial Planning Services, we focus on working with CT public school teachers and their families. We know that there are many unique aspects to the Connecticut Teachers' Retirement Board pension (CTRB) and one of them is the...

2023 Key Financial Data

Scott Reed, AIF®, CEP®, RICP®

Wednesday, March 8, 2023

Investment and retirement planning includes a sound understanding of many different topics.   Social security benefits, Medicare deadlines and costs, tax concepts and Required Minimum Distribution (RMD) rules are just a few...

It's tax time. Where are my tax documents for my investment accounts?

Scott Reed, AIF®, CEP®, RICP®

Friday, January 27, 2023

It’s usually about this time of the year that we receive questions about the tax forms related to investment accounts.  Here’s some information about the most common tax documents that investors receive. 

2023 Brings New RMD Rules!

Scott Reed, AIF®, CEP®, RICP®

Thursday, January 5, 2023

The SECURE Act 2.0 was signed into law on December 29, 2022.  The Act brings important updates to Required Minimum Distribution (RMD) rules so we thought it might be useful to clarify them for you. A Required Minimum...

Do you have a long-lost retirement account left with a former employer? Maybe it’s been so long that you can’t even remember. With over 24 million “forgotten” 401(k) accounts holding roughly $1.35 trillion in...

Guide to the Galaxy

Scott Reed, AIF®, CEP®, RICP®

Monday, November 21, 2022

At Reed Financial Planning Services, LLC,  we have found with the recent market volatility, many investors are left searching for reasoning and indications of the market’s next moves.  This article draws a loose...

At Reed Financial Planning Services, LLC, we work closely with our clients to devise a retirement plan that best suits their needs. In some cases, an annuity could play an important role in a client's investment or income planning...

Trust Basics

Scott Reed, AIF®, CEP®, RICP®

Tuesday, October 4, 2022

Trusts can play an important role in a person’s retirement or estate planning.  However, few people understand what they are, how they work or the role they play in planning.  At Reed Financial Planning Services, LLC,...

Retirement can have many meanings. For some, it will be a time to travel and spend time with family members. For others, it will be a time to start a new business or begin a charitable endeavor. Regardless of what approach you intend...

At Reed Financial Planning Services, we like to keep our clients educated on current financial topics. Right now, inflation is on everyone's minds. "If the current annual inflation rate is 7.9 percent, why do my bills seem like...

Connecticut Teachers: When can I Retire?

Scott Reed, AIF®, CEP®, RICP®

Tuesday, July 5, 2022

At Reed Financial Planning Services, we focus on working with Connecticut public school teachers and their families. With a complex pension system, social security offsets and their own retiree health insurance options, it's important...

Many investors blindly take the advice from their investment professional without asking questions to better understand the kinds of investments that they hold.  We always enjoy educating our clients and thus empowering them with...

With the recent market volatility, we are getting questions during our review meetings about key terms such as a market pullback, correction, bear market and recessions.  The news stations use these terms as if they were part of...

At Reed Financial, we help our clients plan for their retirement, and also take into consideration future generations through legacy planning.

At Reed Financial, we often get questions about probate and how to avoid it. We help our clients structure their assets and investments to pass as efficiently as possible to their loved ones. But the probate process is complex. To...

At Reed Financial, we discuss money with our clients every day as part of their financial review meetings. The news has been reporting a lot recently about the Fed raising the interest rates. Many individuals do not know what role the...

Volunteering Ideas for Retirement

Betsy Reed

Wednesday, March 2, 2022

If you're like a lot of people we work with at Reed Financial, you daydream about retirement and may even be counting down the days until you can officially join the much-desired group of Retirees. Then you find yourself retired and...

What Documents Do I Need to Keep on File?

Scott Reed, AIF®, CEP®, RICP®

Wednesday, February 16, 2022

Have you ever wondered which important documents you should keep, and how long you should keep them? Documents such as investment statements, legal or healthcare papers and tax returns all need to be retained. This quick reference...

February is American Heart Month!

Betsy Reed

Monday, February 14, 2022

At Reed Financial, we enjoy helping our clients plan for their retirement, but what we really love is seeing them enjoy a long retirement in good health! The month of February brings awareness to heart health and is a great time to...

Will My Social Security Benefits Be Reduced?

Scott Reed, AIF®, CEP®, RICP®

Wednesday, February 9, 2022

Social security benefits are seen as a simple source of retirement income.  However, there are many complexities to how and when you should consider claiming your social security.  Will you continue to work?  Should you...

What Issues Should I Consider if My Spouse has been Diagnosed with a Terminal Illness?

Scott Reed, AIF®, CEP®, RICP®

Tuesday, February 1, 2022

We all hope for a long retirement with our family and loved ones.  However, some of us will be given the news that our spouse has a terminal illness.  When this happens, your entire world is turned upside down and many people...

At Reed Financial, our clients often sell their home and purchase a retirement home and that can often trigger capital gains. Capital gains result when an individual sells an investment for an amount greater than their purchase price....

New Information About TRB Annual Statements

Scott Reed, AIF®, CEP®, RICP®

Thursday, January 20, 2022

One of our areas of focus is working with Connecticut public school teachers.  With a complicated pension, social security offsets and unique retiree health insurance costs, retirement planning for a Connecticut public school...

At Reed Financial Planning Services, we focus on helping people retire, but sometimes our clients retire and then go back to work! In the past, retirement has been portrayed as an ending, a grand exit from your years in the workplace....

At Reed Financial Planning Services, we review our clients' asset allocations regularly. Everyone loves a winner. If an investment is successful, most people naturally want to stick with it. But is that the best approach? It may...

At Reed Financial Planning Services, we recommend our clients be prepared for when life doesn't go the way they planned. Have you ever had one of those months? The water heater stops heating, the dishwasher stops washing, and your...

At Reed Financial, we care about your financial well being and with that comes protecting your private information. The article below recommends 10 things to keep at home where they are safe. Concerns over identity theft continue to...

At Reed Financial Planning Services we help our clients plan for retirement.  By leading a healthy lifestyle, it might help you save more money for retirement. Once you are retired, continuing to lead a healthy life will not only...

At Reed Financial Planning Sevices, we specialize in helping people retire. With retirement comes more free time on your hands and while some people know exactly what will occupy their time, others aren't quite so sure.

At Reed Financial Planning Services, we encourage you to protect the wealth you have created. Adding relatively inexpensive umbrella insurance to your existing policy can help protect your family. The article below explains how...

What Issues Should I Consider Regarding My Incentive Stock Options

Scott Reed, AIF®, CEP®, RICP®

Wednesday, December 1, 2021

Stock options can be an important part of your compensation package. However, many people are often confused about the different kinds of stock options, the way in which they can be used in the future, their vesting schedules or tax...

What Issues Should I Consider if My Parent Passed Away

Scott Reed, AIF®, CEP®, RICP®

Monday, November 22, 2021

Losing a parent is a very difficult and confusing situation to go through. For many, it’s a mix of trying to address your own emotions while supporting family members. Then there can be challenges dealing with probate or when trying to...

You may be wondering what it would be like to work with a financial planner. Take a look at the list below, it may surprise you...

At Reed Financial Planning Services, new clients will ask us, "Do I have enough money saved for retirement?" and the answer depends on their situation. Catch-up contributions are a great way for people 50 and over to save for retirement.

At Reed Financial Planning Services, we spend our days helping people plan for and enjoy their retirement. Many people underestimate the number of topics that should be considered as part of their retirement planning. Take a look at...

At Reed Financial Planning Services, we understand that retirements can last a long time, especially for woman who have a longer life expectancy. When our parents or grandparents retired, living to 75 amounted to a nice long life, and...

Deciding between a Medigap or an advantage plan to supplement your Medicare benefits can be confusing. At Reed Financial Planning Services, we understand how Medicare impacts your retirement planning...

At Reed Financial Planning Services, we like to celebrate birthdays just like everyone else. Most children like to add "and-a-half' to make sure everyone knows they are closer to their next age than the last. As we get older, some...

At Reed Financial Planning Services, we realize that everyone doesn't stay at the same job forever. During your adulthood, you many change your job once or twice or for some it may be many times. You may have contributed to your...

At Reed Financial Planning Services, we understand that caring for a parent as they age can be challenging on many levels. It's not just the financial decisions, seeing our parents who were once our caregivers now needing our care can...

At Reed Financial Planning Services, we enjoy helping our clients retire...But some clients want to return to the workforce. Retirement can give you a chance to try something new or take a job in an area that has meaning to you.

At Reed Financial Planning Services, we really enjoy helping our clients plan for retirement. When we discuss their upcoming retirement, we sometimes find people haven't stopped and thought about what this stage of life means to them....

At Reed Financial, we understand that losing a spouse, partner or parent can cause overwhelming grief. In the midst of that grief, life goes on. There are arrangements to be made, things to be taken care of – and in recognition...

With the children now out of the house, financial priorities become more focused on preparing for retirement. At this stage, you may very likely be at the height of your...

Social Security & Medicare Online Enrollment Checklist

Scott Reed, AIF®, CEP®, RICP®

Friday, August 20, 2021

Social security and Medicare are key components of our client's retirement plan. We often field questions about how to enroll. Below is a link to the social security website's Social Security and Medicare Enrollment Checklist. Social...

Some people have a good idea of how much they need each month during their working years. Others simply know that their current income covers their needs so they don't think much about it. But what about when you retire? How much will...

Attention Teachers! Rollovers To The CTRB Additional Annuity Are Available Again!

Scott Reed, AIF®, CEP®, RICP®

Saturday, August 14, 2021

For the past few years, retiring teachers were not able to roll funds from eligible retirement plans into the Connecticut Teachers Retirement Board Pension (CTRB) to then purchase the State of CT Additional Annuity at retirement....

At Reed Financial Planning Services, we know first hand the challenges that come with having a child with special needs. The article below helps explain the steps to take to when planning for your special need or disabled child. 4...

At Reed Financial Planning Services, we focus on working with baby boomers and Connecticut public school teachers. Our articles are focused on key topics that impact these groups of people.

At Reed Financial Planning Services, we often get calls from clients who find themselves inheriting money. People in this situation need to understand the rules, tax implications and options available for inherited assets. If you find...

A Living Trust Primer Estate planning is a key component of a Financial Plan. At Reed Financial Planning Services, we discuss estate planning with our clients and the role a trust can play in protecting assets,...

Following a year of economic instability, it appears that many of us are turning our attention to something that’s been around for decades, but has recently piqued national interest - inflation. In fact, a recent study found that...

You work your entire life and save diligently in order to enjoy your retirement. It sounds simple, enough, but the realities of preparing for retirement can be much more complicated and overwhelming for some people. In fact, a recent...

Deciding when to begin claiming your Social Security benefits will depend on several factors, such as your personal health and financial standings. It's true that waiting to access benefits will increase your monthly payments down the...

Maybe you have a good base of friends where you live now, but your children have moved away. As they continue to grow families of their own, a thought may cross your mind. Should we move closer to our children (and grandchildren)? If...