retirement - West Coast Financial Services

The 4 Types of Annuities

Posted on October 22, 2021November 1, 2021 by WCFSnet

Annuities can be confusing and especially when you hear people telling you, "they are bad" or “You should hate annuities” as Ken Fisher advises with his advertising. The important point you have to understand is what annuity should you hate and why. The logic they are proposing is one annuity is bad so all annuities are bad. So let’s get to the bottom of this and take a deeper dive into an...
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3 HUGE MYTHS About Your IRA

Posted on September 20, 2020November 16, 2020 by WCFSnet

MYTH #1 – It’s All Yours… One extremely common misconception about the IRA is that you own 100% of it. The reality that all too often many overlook, is that you have a partnership with the IRS, aka Uncle Sam. Let’s say for instance that you have an IRA valued at $500,000 and you are in a 33% federal income tax bracket, the IRS has a future ownership of roughly $165,000 of your IRA! Sounds...
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Financial Abuse of Seniors Hits Record

Posted on May 25, 2020January 7, 2021 by WCFSnet

THE WALL STREET JOURNAL by. Yuka Hayashi (January 24th, 2019) U.S. banks reported a record 24,454 suspected cases of elder financial abuse to the Treasury Department last year. Furthermore, This is more than double the amount five years earlier, according to government data. The increase occurred as new federal and state laws are prompting banks to take a more active role in trying to address ...
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A Complete Financial Risk Cycle

Posted on June 20, 2019January 8, 2021 by WCFSnet

At West Coast Financial Services, our focus is to always help retirees align their assets to match their risk tolerance. Knowing this is vital because more often than not, retirees are exposed to more risk than they are aware of. We use a variety of world-class expertise, analysis and strategies that eliminate risk. Below you will find The Financial Risk Cycle, which shows each age group’s calcula...
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