What the End of “File and Suspend” and “Restricted Application” Means for You

Contributed by: Nick Defenthaler, CFP®

On November 2nd, President Obama signed the Bipartisan Budget Act of 2015 into law. It contained the first major change in Social Security since 2000, eliminating popular Social Security strategies “file and suspend” and “restricted application”.  The result of this legislation is less lifetime Social Security benefits for many who planned on delaying retirement benefits until age 70.

Let's take a look at an example of how the strategies were most widely utilized:

Mark and Carrie are 65 years old and recently both retired from Microsoft.  They were both highly compensated and paid the maximum into Social Security for several decades, thus creating a $30,000/yr benefit for Mark and a $32,000/yr benefit for Carrie upon reaching full retirement age (FRA) – in their case, age 66.  Because they are both in great health, have longevity in their family and have accumulated a $1.5M portfolio to supplement retirement income, they planned to delay filing until age 70 to both get the highest possible annual benefit for life (benefits increase 8% each year you delay until age 70).    

Mark and Carrie’s financial planner suggested one change to this plan.  If Carrie were to file and immediately suspend her benefit at her Full Retirement Age  of 66, this would allow Mark to file a “restricted application”.  Filing the “restricted application” would entitle Mark to 50% of Carrie’s FRA benefit, or $16,000/yr (50% of $32,000) from age 66 until age 70.  During this same time frame, Carrie would not be receiving any benefit because she “filed and suspended” in order to receive an 8% annual benefit increase until age 70. 

When Mark turns 70, he would switch from the “restricted application” benefit of $16,000/yr to his own maximized benefit of approximately $41,000/yr (compared to $30,000/yr at age 66). At 70, Carrie would finally start to collect on her own benefit that has now grown to approximately $43,000/yr (compared to $32,000/yr at age 66) after receiving no benefits from age 66 – 70. 

It made perfect sense for Mark and Carrie to both delay benefits until age 70 because of the reasons mentioned earlier, however, by taking advantage of the “file and suspend” and “restricted application” strategies, they were able to bring home another $64,000 in total lifetime benefits ($16,000 x 4 years)! 

So why are these strategies going away? 

Lawmakers saw “file and suspend” and “restricted application” as unintended loopholes that emerged from legislation in 2000.  An additional $64,000 in total lifetime benefits really adds up, especially as more and more retirees are maximizing their benefits using this strategy.  The reforms in this year’s budget bill are projected to save Social Security an estimated $168 billion over 75 years – WOW!

Some important things to consider:

What if I’m currently receiving benefits from the “file and suspend” or “restricted application” strategies?

Don’t panic!  You are “grandfathered” in and your benefits will not change or be interrupted whatsoever.

When will the “file and suspend” strategy be eliminated and is there an age requirement?

If you attain age 66 (full retirement age for those born between 1943 and 1954) by April 29, 2016 you are eligible to still take advantage of the strategy but you must also apply for this benefit strategy by the same date.  If you wait beyond April 29, 2016 or attain age 66 after this date, you will not be able to “file and suspend”.  

When will the “restricted application” strategy be eliminated and is there an age requirement?

If you attain age 62 by the end of 2015, you are “grandfathered” in and are able to take advantage of this filing strategy if it makes sense for your situation.  Those who will not be 62 by year-end will unfortunately not be able to employ this filing strategy.

Obviously with this being a very new piece of legislation, there are still questions that need to be answered and details that need to be shaken out.  Keep your eyes open for additional communication regarding this important change in Social Security and as always, don’t hesitate to reach out to us directly if you have questions about your own personal situation!

If you are interested in more on this topic, register for our April 7th webinar here.   

Nick Defenthaler, CFP® is a CERTIFIED FINANCIAL PLANNER™ at Center for Financial Planning, Inc. Nick is a member of The Center’s financial planning department and also works closely with Center clients. In addition, Nick is a frequent contributor to the firm’s blogs.

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The information has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete. Any opinions are those of Nick Defenthaler and not necessarily those of Raymond James

Making the Most of Affordable Care Act Open Enrollment

Contributed by: Nick Defenthaler, CFP®

It’s that time of year again – open enrollment period for the Affordable Care Act (ACA)!  This year, open enrollment for ACA health plans runs from November 1, 2015 – January 31, 2016.  It’s very important that you enroll for a plan during this time frame if you do not have coverage to avoid being uninsured.  If you’re thinking you’ll just “roll the dice” and go without coverage, think twice.  Number one, the risk of going without coverage is a big one – having a medical event without coverage can destroy you financially.  Number two, the penalty for not having insurance will increase once again for 2016.  New next year: You will now have to pay a penalty that is equivalent to 2.5% of your income or $695 per adult, whichever is greater.

Common ACA Mistake

A common misconception is that health plans offered through the ACA are government health plans like Medicare or Medicaid.  This is NOT the case! This misconception often times will cause clients to avoid these plans that could potentially benefit them very positively.  Healthcare.gov is simply the website all of the ACA eligible plans are offered through.  Plan carriers include big names such as Blue Cross Blue Shield, Priority Health, HAP, etc. all of which have their “sweet spot” pricing depending on the type of plan (platinum, gold, silver and bronze) that makes the most sense for your needs. 

These are health plans you could simply purchase on your own as an individual policy, however, by going through healthcare.gov and utilizing the ACA, you could potentially be eligible for subsidies that could dramatically reduce your monthly premiums, potentially saving your family thousands of dollars. This link to healthcare.gov shows those qualifying ranges.  Subsidies can also be very important for younger retirees that have not yet begun Medicare (under the age of 65).  We have worked with many clients in this age range and have done strategic planning with their income throughout the year to qualify them for lower premiums.  I encourage you to contact us if you’re considering enrolling in an ACA plan to see how we could potentially help on the financial side of things!

Nick Defenthaler, CFP® is a CERTIFIED FINANCIAL PLANNER™ at Center for Financial Planning, Inc. Nick is a member of The Center’s financial planning department and also works closely with Center clients. In addition, Nick is a frequent contributor to the firm’s blogs.

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This material is being provided for information purposes only and is not a complete description, nor is it a recommendation. Any opinions are those of Nick Defenthaler and not necessarily those of Raymond James. The information has been obtained from sources considered to be reliable, but Raymond James does not guarantee that the foregoing material is accurate or complete.

Links are being provided for information purposes only. Raymond James is not affiliated with and does not endorse, authorize or sponsor any of the listed websites or their respective sponsors. Raymond James is not responsible for the content of any website or the collection or use of information regarding any website's users and/or members.

Tax Free Growth: A Webinar Targeting Fiat Chrysler Retirement Plans

Contributed by: Center for Financial Planning, Inc.

A couple of weeks ago, Nick Defenthaler, CFP®, hosted a webinar targeting Fiat Chrysler employees and how they could save thousands of dollars by contributing to the after-tax portion of their 401k plan. Although not all 401k retirement plans have these same capabilities, knowing about the possible tax deferred options that could be available for your retirement plan can be helpful for future saving.

In the webinar below, Nick explains the difference between traditional 401ks and Roth 401ks, and also includes insight into other retirement saving vehicles like IRAs. He explains what retirement plan could be best for you and your future, which can depend on your current tax bracket and your predicted future bracket. The webinar is filled with basic information about retirement plans and then delves into the specific plan as it relates to Fiat Chrysler employees. Take 30 minutes to review the information and if you have any questions, feel free to contact us.

For further information, Nick has already shared advice for thinking about Back Door Roth IRA Conversion and what Ford Employees should do regarding this same topic.

It's Medicare Open Enrollment Time

Contributed by: Sandra Adams, CFP®

If you’re 65 and older (or you assist someone who is), you are likely swimming in a sea of Medicare plan flyers, prescription drug plan notices, disclaimers and other various forms that are nothing short of overwhelming and confusing.  Welcome to Medicare Open Enrollment!

What is Medicare Open Enrollment? 

It is the window that opens annually from October 15th through December 7th for anyone currently enrolled in Medicare. Open enrollment allows you to make changes to your plan by signing up for Medicare Advantage (Part C) or a Medicare Prescription Drug Plan (Part D). You can also make changes to an existing plan, move to a new one, change drug coverage benefits or dis-enroll.  Or you can make no change at all. 

In our experience in listening to clients, open enrollment and Medicare options in general can be a bit overwhelming.  However, taking the time to do a thorough annual review of your Medicare options to make sure you are in the most cost effective plan can be very worthwhile, if done right.

Here are tips for a successful Medicare Open Enrollment:

Don’t get Overwhelmed.  There will be a lot of mail, most won’t apply to you.  Wait until you get your Medicare and You Book from Medicare. This is the guidebook for the new plan year.

Be Prepared.  Have all of the information you will need regarding any current coverage, current costs, current medical conditions, physicians and medications so that you are able to go through the process of making a decision about making a change.

Use Available Resources. 

• Use the online tools at www.medicare.gov can help you determine the correct plans for you based on your geographical area, physicians, medications, etc.

• Use the resources and assistance available at local senior centers and Area Agency on Aging, etc.

• Use the resources of independent Medicare consultants who may be able to guide you based on your individual needs (see the link here for upcoming Medicare events sponsored by the Center).

Take Action (or Not).  If your analysis on your own or with the help of others suggests that a change is in order, take action to make that change before the December 7th deadline.  However, if you are already in the best plan for you, nothing says you have to make a change just because it is open enrollment time.  It is okay to make no change at all.

Medicare Open Enrollment provides a window of opportunity to review current plans and make changes if they make sense for you.  We recommend that you take advantage of the resources that are available to assist with the analysis of these plans – they can get complicated and there is no need to go it alone!   Please contact your financial planner if you have questions about how Medicare works with your overall financial plan or if you would like a personal referral to a Medicare resource in your area.

Sandra Adams, CFP® is a Partner and Financial Planner at Center for Financial Planning, Inc. Sandy specializes in Elder Care Financial Planning and is a frequent speaker on related topics. In addition to her frequent contributions to Money Centered, she is regularly quoted in national media publications such as The Wall Street Journal, Research Magazine and Journal of Financial Planning.

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The information has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete. This material is being provided for information purposes only and is not a complete description, nor is it a recommendation. Any opinions are those of Sandy Adams and not necessarily those of Raymond James. Links are being provided for information purposes only. Raymond James is not affiliated with and does not endorse, authorize or sponsor any of the listed websites or their respective sponsors. Raymond James is not responsible for the content of any website or the collection or use of information regarding any website's users and/or members.

Impact of the 2016 Medicare Part B Premium Increase

Contributed by: Matt Trujillo, CFP®

You may have heard of the pending Medicare part B premium increase for 2016.  If this is news to you, the most recent Medicare Trustees Report is estimating the baseline premium to increase from $104.90 to $159.30 beginning in 2016 (approximately a 52% increase). The reason why premiums are estimated to increase so much next year is mainly attributable to the way the program is currently structured.

Hold Harmless Clause May Protect You

Currently, the law does not allow higher premiums for all participants. In fact, if you are currently receiving social security benefits, have an adjusted gross income under $170,000 (or $85,000 if single), and are having your Medicare part B premiums taken directly from your social security benefit, then you probably won’t see any increase in your Medicare part B premiums for 2016. This is due to the “hold harmless” clause that protects current Medicare recipients from large rate hikes.

Ordinarily the increase in Medicare premiums is pegged to the annual cost of living adjustment from the social security administration. However, next year the administration says there will be no cost of living adjustment, which has left the Medicare Trustees unable to raise the premiums on 70% of current Medicare recipients.

Am I at Risk for a Medicare Part B Rate Hike?

So how will the Medicare Trustees keep up with the rising cost of healthcare? Simple: they will pass along the costs to future recipients. If you’re not currently receiving social security benefits, but are slated to start soon, you might be in for an unpleasant surprise.

You might be a candidate for a rate hike if:

• You pay your Medicare Premiums directly and don’t have them deducted from your social security benefit.

• You have filed for social security benefits but have suspended payment to take advantage of delayed retirement credits (i.e. file and suspend strategy).

• You have an adjusted gross income higher than $170,000 filing a joint tax return or higher than $85,000 as a single filer.

Talk to your financial advisor to find out more about this pending rate hike, and whether or not you will be affected.

Matthew Trujillo, CFP®, is a Certified Financial Planner™ at Center for Financial Planning, Inc. Matt currently assists Center planners and clients, and is a contributor to Money Centered.

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This material is being provided for information purposes only and is not a complete description, nor is it a recommendation. The information has been obtained from sources considered to be reliable, but Raymond James does not guarantee that the foregoing material is accurate or complete.

Don’t Let the Gender Pay Gap Derail Your Retirement

Contributed by: Laurie Renchik, CFP®, MBA

Women hold a tremendous amount of financial power and are an active part of the workforce and economy as a whole. At a time when women are assuming added responsibility for their families and finances, the gender pay gap that is a reality for many has the potential to derail security in retirement.  

Recently, Ellevate Network surveyed thousands of professional women and found that 26% of respondents worry that they are not making enough money today and 30% worry that they are not planning well enough for retirement.

If you have these concerns, here are some steps you can take: 

1. Do your homework about salary ranges for your given position and your growth prospects for the industry. Then be prepared to negotiate.

2. Leverage benefits provided by your employer.  Medical, dental, life insurance and disability are just some of the benefits that may be part of your compensation package.  Pay attention to when you become eligible.

3. Prioritize your own retirement and begin saving as soon as economically feasible. On average women live longer than men and accumulate less in retirement accounts. Don’t forget to increase your contribution every time you receive a raise.

4. Understand how your lifetime earnings directly impact your Social Security benefit. Benefits are calculated on the highest 35 years of earnings.  If there are fewer than 35 years, then zeros go into the calculation.

Shining some much needed light on the gender wage gap can make a difference for all women. In the meantime, women can adopt good financial habits early in life, set their own goals, and garner the support they need to stick to those habits over the long run. We can help you pull together the details you need to put your plan in place.

Laurie Renchik, CFP®, MBA is a Partner and Senior Financial Planner at Center for Financial Planning, Inc. In addition to working with women who are in the midst of a transition (career change, receiving an inheritance, losing a life partner, divorce or remarriage), Laurie works with clients who are planning for retirement. Laurie was named to the 2013 Five Star Wealth Managers list in Detroit Hour magazine, is a member of the Leadership Oakland Alumni Association and in addition to her frequent contributions to Money Centered, she manages and is a frequent contributor to Center Connections at The Center.

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Five Star Award is based on advisor being credentialed as an investment advisory representative (IAR), a FINRA registered representative, a CPA or a licensed attorney, including education and professional designations, actively employed in the industry for five years, favorable regulatory and complaint history review, fulfillment of firm review based on internal firm standards, accepting new clients, one- and five-year client retention rates, non-institutional discretionary and/or non-discretionary client assets administered, number of client households served.

This material is being provided for information purposes only and is not a complete description, nor is it a recommendation. Any opinions are those of Laurie Renchik and not necessarily those of Raymond James. The information has been obtained from sources considered to be reliable, but Raymond James does not guarantee that the foregoing material is accurate or complete. Investing involves risk and investors may incur a profit or a loss.

Why Investors Get Serious at Age 40

Contributed by: Timothy Wyman, CFP®, JD

In my experience, folks tend to get “serious” about financial planning when they near age 40. The earlier you start the better, but when you near the age of 40, you may have a variety of financial issues (sometimes disguised as challenges) you are dealing with.   For the 40+ crowd retirement is no longer simply an event that is way out in the distance.  It’s time to put pencil to paper, take stock of where you are financially today, and make real plans for ultimate financial independence.

4 Steps to Getting Started at 40

During a recent consultation a new client simply needed some guidance on where to prioritize savings.  Fortunately, they had both the desire and cash flow to start feeding the retirement nest egg. Even with the ability to save, the options available can be somewhat overwhelming.  If you find yourself in a similar situation – here are 4 ideas that might help:

1. Make maximum contributions to employer sponsored retirement plans such as 401k or 403b plans.  Under current law, you are able to contribute up to $18,000 per year to said plans.  For those over the age of 50, an additional $6,000 may be contributed.  The idea is that most people are in a higher marginal tax bracket during their working years than in retirement and these plans can provide tax leverage in addition to tax deferred growth of any earnings.

2. Make use of ROTH IRAs if eligible.  Higher income earners (singles earning over $116,000 and married/filing jointly over $183,000) may not be able to make an annual contribution to a ROTH IRA. However, we have assisted some people in making “Back Door Roth IRA” contributions.  Not only is the name cool – it can add a real punch to tax free income. We’d enjoy discussing if this is a potential strategy for you.

3. Consider Taxable Brokerage Accounts. While the contributions or deposits are not tax favored, having after tax investments can provide great flexibility, especially if you are considering retirement before age 59.5.

4. Look at tax deferred annuities and life insurance.  For some higher earners using either of these tax-favored vehicles may provide additional savings opportunities.  Generally, the first three vehicles mentioned above should be utilized first.

We are here to help you prioritize and make the best use of each and every dollar. Give us a call today.

Timothy Wyman, CFP®, JD is the Managing Partner and Financial Planner at Center for Financial Planning, Inc. and is a contributor to national media and publications such as Forbes and The Wall Street Journal and has appeared on Good Morning America Weekend Edition and WDIV Channel 4. A leader in his profession, Tim served on the National Board of Directors for the 28,000 member Financial Planning Association™ (FPA®), mentored many CFP® practitioners and is a frequent speaker to organizations and businesses on various financial planning topics.

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This material is being provided for information purposes only and is not a complete description, nor is it a recommendation. Any opinions are those of Center for Financial Planning, Inc. and not necessarily those of Raymond James. The information has been obtained from sources considered to be reliable, but Raymond James does not guarantee that the foregoing material is accurate or complete. Investing involves risk and investors may incur a profit or a loss. Investments mentioned may not be suitable for all investors. Prior to making an investment decision, please consult with your financial advisor about your individual situation. Roth IRA owners must be 59½ or older and have held the IRA for five years before tax-free withdrawals are permitted.

Family and Finances: How to Help Aging Parents Stay in Control

Contributed by: Sandra Adams, CFP®

I recently attended my daughter’s college orientation.  During one of the presentations to parents, the speaker said something that struck a chord with me:

“As hard as it may be, it is time for you as parents to let go of the reigns and give your children control of their own lives. Let them take care of things for themselves and make their own decisions. This may mean that they make some mistakes, but this is the time for them to learn.” 

Wow!  Did that hit home!  How hard is it as a parent to let go and let your child start doing things for themselves when you have been doing things for them for the last 17 – 18 years?  But isn’t this what your child has been waiting for?  To be an adult and to have control over his or her own life?  Isn’t that what we all wait for?

Why Control Matters at Any Age

As I sat and thought about the issue of control a bit more, I began to think about the older adult clients that I work with and about how hard they fight to keep control over their lives as they age.  I thought about the adult children of those clients who often feel as if, at some point, they may have to take away that control if the older adult losses the capacity to maintain control for themselves.  It can be particularly stressful for adult children to be put in a situation of needing to take over “control” for their aging parents without having a clear idea of their parents’ desires for their lives as they age.  So, what can be done to avoid this potential situation?

• Have open and honest conversations about the older adult’s plans for their future aging life; this may include a family meeting (tips here on having your own) that is led by your financial planner to include conversations about financial assets and how longer term care planning and future housing options might be funded.

• Make sure that all of the proper estate planning documents are up-to-date and that they are accessible (consider keeping copies on file with your financial planner’s office, as well).  Particularly important are Durable Power of Attorney Documents for General/Financial and Health Care/Patient Advocate.

• Ensure that all wishes and plans for the future are documented in writing.  Also make sure to have your financial affairs organized and documented.  Our Personal Financial Record Keeping System & Letter of Last Instruction is one helpful tool you can use.

Control is something we all want to have over our own lives … and something we fight to keep.  As parents of young adults, we struggle to let go of the control for fear that our children might take a few falls.  At the same time, we might be struggling with the thought of having to take control from aging parents who might be struggling with capacity issues as they age.  But, if you’ve planned ahead and helped your parents communicate their wishes, you won’t have taken their control from them at all. Instead, you will be assisting them in carrying out their own well-designed future.

Sandra Adams, CFP® is a Partner and Financial Planner at Center for Financial Planning, Inc. Sandy specializes in Elder Care Financial Planning and is a frequent speaker on related topics. In 2012-2014 Sandy has been named to the Five Star Wealth Managers list in Detroit Hour magazine. In addition to her frequent contributions to Money Centered, she is regularly quoted in national media publications such as The Wall Street Journal, Research Magazine and Journal of Financial Planning.

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Five Star Award is based on advisor being credentialed as an investment advisory representative (IAR), a FINRA registered representative, a CPA or a licensed attorney, including education and professional designations, actively employed in the industry for five years, favorable regulatory and complaint history review, fulfillment of firm review based on internal firm standards, accepting new clients, one- and five-year client retention rates, non-institutional discretionary and/or non-discretionary client assets administered, number of client households served.

This material is being provided for information purposes only and is not a complete description, nor is it a recommendation. Any opinions are those of Sandy Adams, CFP® and not necessarily those of Raymond James. The information has been obtained from sources considered to be reliable, but Raymond James does not guarantee that the foregoing material is accurate or complete. You should discuss any legal matters with the appropriate professional.

How to Increase Your Social Security Benefit by 8% per Year

Contributed by: Nick Defenthaler, CFP®

Most people have either received their Social Security statement in the mail or have reviewed it online but do you know what your “full retirement age” is and what it actually means?  Full retirement age (FRA) is defined as the age at which a worker is entitled to 100% of their Social Security benefit.  Below is a summary of the current full retirement age “schedule” according to year of birth:

Source:  ssa.gov

The earliest you can collect benefits on your own earnings record is 62, however, the benefit will be permanently reduced, and in most cases, is not something we recommend to clients.  Each year benefits are delayed, you are entitled to a permanent, 8% increase in benefit.  You can also continue to delay beyond your full retirement age until age 70 to fully maximize your benefit. 

Knowing your full retirement age, given your date of birth, is very important because it can impact when you ultimately decide to file and what your actual benefit will be.  As many of you have noticed, several years ago, the Social Security Administration stopped mailing annual Social Security statements out to most Americans as a cost savings measure.  However, creating an account and checking your Social Security statement online has become very easy and is something we recommend to all clients who are still working.  You should check the statement for accuracy as it relates to your wages for the year and to see if your benefits have changed in any way. For step-by-step instructions to quickly set up your own online Social Security account, click here.

Social Security is a critical part of most retirees’ financial game plan, so knowing things such as your full retirement age, is important to make sure you are making the most of the benefits that you’ve earned.  If you have questions about Social Security, we’ll find the answers.  We have a team of CERTIFIED FINANCIAL PLANNER™ professionals who can help guide you through one of the most important financial decisions you will make in your lifetime.  

Nick Defenthaler, CFP® is a CERTIFIED FINANCIAL PLANNER™ at Center for Financial Planning, Inc. Nick is a member of The Center’s financial planning department and also works closely with Center clients. In addition, Nick is a frequent contributor to the firm’s blogs.

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This material is being provided for information purposes only and is not a complete description, nor is it a recommendation. Any opinions are those of Nick Defenthaler, CFP® and not necessarily those of Raymond James. Prior to making an investment decision, please consult with your financial advisor about your individual situation.

Pros and Cons of Qualified Longevity Annuity Contracts

Contributed by: Matt Trujillo, CFP®

A recent IRS ruling made it possible to defer 25% or $125,000 of your 401(k) and/or IRA assets into a qualified longevity annuity contracts or QLAC.  Our financial planning department here at The Center decided to explore these in greater detail to see what, if any, merits these products might have in clients’ overall financial plans.

QLAC Option 1

To start there are two main types of these QLACs. In the first, you give your money to an insurance company in exchange for substantial future payments (usually beginning at age 85). In return, the life insurance carrier gets to keep the full initial premium in the event that you pass away prior to benefits starting. This is an insurance product like auto and home-owners insurance in the sense that if you don’t use it, you lose it.  Due to this forfeiture of initial premium, this product has not been widely adopted.

QLAC Option 2

So, in order to make the product more marketable, insurance companies have recently come out with a second type of product that guarantees a return of your initial premium. However, this too has drawbacks because you are giving up any potential growth you might have had on the money prior to benefit payments commencing. Also, when benefits do finally commence, the payout is not quite as high as the first product because the insurance carrier is on the hook to return 100% of the initial premium.

Consider the Drawbacks

Essentially the drawbacks of QLACs can be summed up quite easily. If you purchase one and you die prior to benefits commencing, then you made a bad deal. However, if you purchase one and do live at least 5 years past the commencement of benefits, you rapidly recover the entire initial premium and start to draw more than you initially paid.  

Just like the name of the product suggests, these seem to only make sense as a hedge against living an above average life expectancy. If longevity risk is something that concerns you, we encourage you to speak with a professional to understand what methods can be taken to give your plan the greatest probability of success!

Matthew Trujillo, CFP®, is a Certified Financial Planner™ at Center for Financial Planning, Inc. Matt currently assists Center planners and clients, and is a contributor to Money Centered.

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This material is being provided for information purposes only and is not a complete description, nor is it a recommendation. Any opinions are those of Matt Trujillo and not necessarily those of Raymond James. The information has been obtained from sources considered to be reliable, but Raymond James does not guarantee that the foregoing material is accurate or complete. You should discuss any tax matters with the appropriate professional. Guarantees are based on the claims paying ability of the issuing company.