3 Facts You Should Know About the Federal Gift Tax

Are you considering making a sizable financial gift to a friend or family member? A financial gift can be a great way to make a difference in a loved one’s life. It can also be an effective estate planning strategy, as gifting may potentially remove assets from your estate. That could reduce the amount of assets that face probate and the estate tax. Gifting could trigger its own set of…

Not Ready For Retirement? Consider These Options

Retirement is the ultimate financial goal for many workers. You finally get to set your own schedule and your own priorities. If you’re like many Americans, you’ve long dreamed about the day you get to leave work behind and start living life on your terms. As joyous as retirement may be, it can also present some substantial challenges, especially from a financial perspective. You may have limited guaranteed* income from…

3 Surprising Costs That Aren’t Covered by Medicare

For nearly your entire working life, you’ve made regular contributions to Medicare via deductions from your paycheck. Your expectation is likely that once you retire and reach age 65, you’ll finally be able to transition from being a Medicare contributor to being a recipient. Medicare is a valuable resource for most retirees. It covers things like hospitalization, doctor’s office visits, and even prescription drugs, depending on which plans you choose….

Should You Cash Out Your Life Insurance After Your Kids Move Out?

Many people buy their first life insurance policy when they have children. The birth of a child creates an obvious life insurance need. Your child is dependent on you not only for financial support but also for care and guidance. If you pass away, the child could face substantial challenges, some of which can be solved with a life insurance benefit. What happens, though, when your children grow up and…

No Will? You Could Leave Problems for Your Heirs

According to a 2015 survey by Rocket Lawyer, nearly two-thirds of Americans don’t have a will. The survey found that 27 percent of those individuals don’t feel any urgency to create a will, and an additional 15 percent say they don’t need one at all.1 Are you one of the many Americans who don’t have a will? There are a broad range of reasons why people don’t take the time…

Life Insurance: Who Needs It?

Risk management is at the heart of any financial plan. You probably have protection against a wide range of risks, such as home damage, medical issues and even unplanned emergencies. However, you may not have protection against the most fundamental risk anyone can face: unexpected death. While death may not seem like a financial threat, it can cause significant financial damage for your dependents, business partners or others who rely…

Don’t Make These 3 401(k) Mistakes

Do you use an employer-sponsored 401(k) as your primary retirement savings vehicle? You’re not alone. Since its inception, the 401(k) has quickly become a popular employee benefit, and it has largely replaced the pension as the top employer-sponsored retirement plan. A 401(k) can be a powerful retirement accumulation vehicle for a few reasons. One is its tax treatment. A 401(k) plan is tax-deferred. That means you don’t pay taxes on…

Roth or Traditional: Which IRA Should You Choose?

Ready to get serious about saving for retirement? You may already contribute to your employer’s 401(k) plan. However, that’s not your only retirement savings option. You can also contribute as much as $5,500 in 2017 to either a traditional IRA or a Roth IRA. That limit increases to $6,500 if you’re age 50 or older.1 Which one is right for you? There’s no universal right answer. What’s appropriate for one…

3 Strategies for Funding Retirement Before Age 59½

Planning on an early retirement? With consistent saving and disciplined spending, you can make it happen. Even if you don’t think you will retire early, you still may want to plan for it. Health issues and disability force workers into early retirement every year. A contingency plan can help you navigate a challenging situation. Regardless of whether your early retirement is planned, leaving the working world at a young age…

Is There Any Benefit to Delaying Social Security Past Age 70?

If you’re approaching retirement soon, you’re likely thinking about Social Security and when to file for benefits. Like many workers, you’ve probably paid into Social Security for decades. You may be anxious to file for benefits and start collecting income. The earliest you can file for benefits is at age 62. To get your full benefit, however, you need to wait until your full retirement age (FRA), which is either…


First Financial Consultants, Inc., Financial Planning Consultants, Springfield, MO

First Financial Consultants
Alan K. Suiter, CLU
3816 S Greystone Ct. Suite A
Springfield, MO 65804

Hours: 8:00 a.m. to 4:30 p.m.
417-881-0400 | 800-373-8613