| Phillip Roy Financial Services Announces New White Paper on Life ...
SARASOTA, Fla.--(BUSINESS WIRE)--March 23, 2007--Phil Wasserman, president of Phillip Roy Financial Services, a leading retirement income planning firm, has announced a new research paper on life insurance and annuity use titled "Income Maximization." "Life Insurance and annuities are an area of great interest to the boomer generation and retirees in general," says Wasserman, and this new research paper helps explain the combined use of them to maximize income and minimize estate taxes to retirees and their families." Phillip Roy Financial Services has already disseminated the white paper to over 500 top financial planners nationwide and will continue to offer it free of charge to financial advisors, insurance agents and the public. Copies may be obtained by calling 888-225-8161 or may be downloaded at the company's web site www.philliproyfinancial.com.
General Assembly briefs
ATLANTA - A push to require doctors who perform abortions to offer their patients a look at an image of the fetus failed in the Senate on Friday - bogged down in maneuvering that even some supporters said went too far. Senators rejected a compromise version of the plan on a 26-18 vote that fell short of the 29 votes needed in the 56-member chamber. As originally passed by the Senate, the bill said a woman seeking an abortion must be offered an opportunity to have an ultrasound or sonogram image of the fetus made and an opportunity to look at that image - although she would not be required to do either. But a six-member panel appointed to craft a compromise between House and Senate versions of the plan loaded it up with extra requirements. Among them - that the woman must be offered a chance to listen to a heartbeat from the fetus and that she must sign a document stating whether she had agreed to see the image of the fetus.
UK Conservatives, Criticizing Brown, Seek Pension Bill Change
April 16 (Bloomberg) -- Britain's opposition Conservative Party, criticizing Chancellor of the Exchequer Gordon Brown for ending tax breaks on retirement savings, said it will seek changes to a pension bill this week. Documents released by the Treasury last month show Brown ignored advice given in 1997 by civil servants, who argued that ending the credit would cost employers 5 billion pounds ($9.9 billion) a year and undermine the finances of pension funds. Criticism of Brown's record on managing Britain's finances is heating up as he prepares to replace Tony Blair as prime minister in coming months. The attacks focus as much on Brown's leadership style as on his policies themselves. ``This was a crucial test of good government for the chancellor, and we now know how badly he and his political advisers failed it,'' Conservative lawmaker William Hague said today in a speech to the British Chamber of Commerce in London.
Reinvest your tax refund in retirement
As Americans receive their 2006 tax refunds, the temptation for many is to book a family vacation or purchase a new plasma TV. But, with the IRS estimating the average refund to be approximately $2,548*, it is also the perfect opportunity for Americans to give their retirement savings an instant boost. “While your tax refund may feel like an instant windfall, the best bet may be not to succumb to the instant gratification of spending it right away," says Tim Schmidt, managing partner for Thrivent Financial for Lutherans. “Instead, tax filers should consider reinvesting their refund into their retirement savings. Not only will this pay out in the long run, but there may also be tax savings implications in 2007 depending on how it is invested." According to Schmidt, traditional IRAs may offer opportunities for tax-deductible contributions based on the investor's income, filing status and whether or not his or she has an employer sponsored plan.
3 Steps to Supercharge Your Retirement Savings
It seems like just yesterday we were ringing in 2007. Now, as March comes to a close, it's a good time to check in on how those New Year's resolutions are going. Okay, so maybe you haven't seen the inside of your gym since January. But hopefully, at least some of your resolutions stuck. If you made retirement savings a priority for 2007, hopefully you've harnessed the hidden fortune inside your paycheck and channeled some of your money toward retirement. If not, there's still time. Here are three simple steps that will get you back on track to get the full potential of your retirement savings. Increase your contributions. It sounds simple, but it's easy to forget: Saving more means a better retirement. Take a look at the options available to you. Are you putting away the most you can? If not, consider bumping up your savings.For 2007, the maximum you can contribute to your 401(k) is $15,500, and the maximum IRA contribution is $4,000.
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