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Money Matter$

Insights from the Sommers Financial Management Team

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Seize the Opportunities!

As we enter 2017, it’s a chance to take some time to reflect on the past year and think about our hopes and dreams with the flip of another calendar year. There were likely some happy surprises, and some hard challenges in 2016. Do you ever stop to think what you have control over, and those things that are completely out of your control?

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Facing the Retirement Pension Puzzle

A common question we are asked from those finally reaching retirement is which payout option do I choose? The options usually include lump sum payout, lifetime income or term certain. A lump sum payout is fairly easy to understand … you are paid a lump sum and sent out the door. But now what do you do with it? If you don’t move it to an IRA, be prepared for a huge tax consequence. If you move it to an IRA, how will you invest it?

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Will Oregon's Death Tax Kick the Bucket?

There is currently an initiative on the November ballot in Oregon to repeal Oregon’s estate tax. This Death Tax Phase-Out Act (Measure 84) would reduce the existing tax each year until 2016, when it would reach zero. The tax currently applies to the amount of an estate over $1 million - which, coincidentally, is the minimum amount many financial experts say that baby boomers should possess in order to not outlive their assets.

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Focus on Fraud

Last month, the North American Securities Administrators Association (NASAA) came out with their annual list of financial products and practices to which unsuspecting investors fall prey. At the risk of losing your interest, I’ll shed light on just a few. On the list, you’ll find various forms of Ponzi schemes.

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Strategic Investing vs. Tactical Investing

At the recent “Get Motivated” seminar in Portland, a “Get Rich” salesmen was questioning why you would pay a financial advisor 1-2% when you could do it yourself. But as my husband was quick to point out, you could pull your own teeth instead of going to a dentist, too. What a scary proposition! We pay experts because they have tools, resources and knowledge to get what we need done. The same goes with a financial advisor.

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