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Where will your retirement money come from? If youre like most people, qualified-retirement plans, Social Security, and personal savings and investments are expected to play a role. Once you have estimated the amount of money you may need for retirement, a sound approach involves taking a close look at your potential retirement-income sources.

American actor Lee Marvin once said, As soon as people see my face on a movie screen, they knew two things: first, I'm not going to get the girl, and second, I'll get a cheap funeral before the picture is over.Most people dont spend too much time thinking about their own funeral, and yet many of us have a vision about our memorial service or the handling of our remains. A letter of instruction can help you accomplish that goal.A letter of instruction is not a legal document; its a letter written by you that provides additional and more personal information regarding your estate. It can be addressed to whomever you choose, but typically, a letter of instruction is directed to the executor, family members, or beneficiaries.1Make a Cheat SheetThink of a letter of instruction as a cheat sheet to your estate. Here are a few ideas and concepts that may be included:The location of important legal documents, such as your will, insurance policies, titles to automobiles, deeds to property, etc.A list of financial assets, including savings and checking accounts, stocks, bonds, and retirement accounts. Be sure to include account numbers, PINs, and passwords where applicable.A list of pensions or profit-sharing plans, including the location of their explanatory booklets.The location of your latest tax return and Social Security statements.The location of any safe deposit boxes and their keys.Identify Funeral WishesA letter of instruction is also a good place to leave burial or cremation wishes. You should consider giving the location of your cemetery plot deed, if you have one. You may even wish to specify which hymns or speakers you would like included in your memorial service. Although a letter of instruction is not legally binding, your heirs will probably be glad to know how you would like to be remembered. It also may be helpful to leave a list of contact information for people who should be notified in the event of your death.There is no best way to write a letter of instruction. It can be written in your style and reflect your personality, or it can be written to simply convey information. You should decide what type of letter best fits your estate strategy.1. Investopedia.com, 2021The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG Suite is not affiliated with the named broker-dealer, state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information and should not be considered a solicitation for the purchase or sale of any security. Copyright 2022 FMG Suite.Editors Note: This article was submitted by Anthony Cisneros, CRPC, AWMA CRPS.Anthony Cisneros is a Wealth Advisor and President of RTI Wealth Management, and may be reached at 970-236-8800 or by email at acisneros@rtiwm.comSecurities and investment products and services offered through LPL Financial, member FINRA/SIPC. RTI Wealth Management is a separate entity from LPL Financial.

When you lose a spouse, partner, or parent, the grief can be overwhelming.In the midst of that grief, life goes on. There are arrangements to be made, things to be taken care of and in recognition of this reality, here is a checklist that you may find useful at such a time.First, gather documents. Ask for help from other family members if you need it. Start by gathering the following.A will, a trust, or other estate documents. If none of these exist, you could face a longer legal process when settling the persons estate.A Social Security card/number. Generally, the persons Social Security number will be retired shortly following the death. If you are uncertain, consider checking with the Social Security office.Then, gather these additional highly important items.Any account statementsDeeds/titles to real estateCar titles or lease agreementsStorage space keys/account recordsAny bills due or records of credit card statementsAny social media platform information, if applicableLast, but not least, look for a computer file or printout with digital account passwords. Prior to their loved ones passing, some family members may try to centralize all this information or state where it can be found.In addition, see if the person left a letter of instructions. A letter of instructions is not a legal document; its a letter that provides additional and more-personal information regarding an estate. It can be addressed to whomever you choose, but typically, letters of instructions are directed to the executor, family members, or beneficiaries.Following these steps, address financial, insurance, and credit matters. Investment and retirement plan accounts and insurance policies should have beneficiaries, so reach out to the financial and insurance professionals who helped your loved one as well as the person overseeing their workplace retirement plan. Talk with these professionals to learn about the possible tax implications from inheriting these assets.State and federal taxes for your loved one will also need to be paid, and possibly, other taxes for the year of their death.Remember, this article is for informational purposes only and is not a replacement for real-life advice, so make sure to consult your tax, legal, and accounting professionals before modifying your any tax or estate strategy.If your loved one owned a small business or professional practice, a discussion with business partners (and clients) may be necessary as well as a consultation with the attorney who advised that business.Look after your future. Working through several of these issues may help bring closure to your loved ones estate.This article is provided by Anthony Cisneros CRPC, CRPS, President Wealth Advisor of RTI Wealth Management. He can be reached at 970-236-8800 or by email at acisneros@rtiwm.com. Securities and advisory services offered through LPL Financial, a Registered Investment Advisor, Member FINRA/SPIC

As a business owner, you have the power to shape your future and leave a lasting legacy. Planning for your exit may seem daunting, but it's a crucial step to ensure a smooth transition. Whether you're planning to sell your business, retire, or pass it on to a family member, there are five essential things you need to know about exit planning. Here they are:1.       Planning early is crucial. Experts recommend starting the process 3-5 years before you exit. This will give you enough time to address any potential issues, increase the value of your business, and find the right buyer or successor.2.       There are different ways to transition your business, such as selling to a third party, passing it down to family members, merging with another company, or going public. You need to understand these options to choose the best one for your goals and finances.3.       Knowing how much your business is worth is essential if you're planning to sell it. Hire a professional to conduct a thorough valuation, which will help set a realistic asking price and identify areas you can improve to increase the value of your company.4.       Exiting a business is complicated and has legal, financial, and tax implications. To navigate this process, it's best to assemble a team of experts, such as an attorney, accountant, and financial advisor. They can guide you and help you make informed decisions.5.       It's important to keep your employees and other stakeholders informed and involved in your exit planning. This will maintain trust, reduce uncertainty, and boost employee loyalty and commitment. Planning for the future is crucial for any business owner. Start early, value your business correctly, build a strong exit team, and communicate with your stakeholders. Proper planning can help maximize your financial return, preserve your legacy, and ensure a smooth transition. Remember, it's never too early to start preparing for the future.  Editors Note: This article was submitted by Anthony Cisneros, CEPA, CRPC, AWMA CRPS.Anthony Cisneros is a Wealth Advisor and President of RTI Wealth Management and holds the designation of Certified Exit Planning Advisor, CEPA.  He may be reached at 970-236-8800 or by email at acisneros@rtiwm.com Securities and investment products and services are offered through LPL Financial, member FINRA/SIPC. RTI Wealth Management is a separate entity from LPL Financial.