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Your Bank > Education and Advice > CNB University

Retirement Planning

Title
Date
Nov 01, 2018
401(k) Retirement Plans for Small Business
Establishing a 401(k) retirement plan can benefit both employees and employers alike. Employees benefit from the ability to make pre-tax contributions, potential income tax savings, increased savings with employer-matched contributions, and more.
Nov 01, 2018
Jun 06, 2018
Four Tips for Downsizing in Retirement

It may sound like a daunting and emotionally draining task, but downsizing could be a savvy financial move, especially if you haven't reached your retirement savings goals. 1. Set goals for downsizing Before you make any decisions, think about why

Jun 06, 2018
Apr 06, 2018
Determining Your Retirement Income Needs

The Prelude Let’s assume you are happily married, your adult children are self sufficient, and you and your spouse are healthy. Congratulations, you are lucky Now you both are in your late 50s, and it’s hard to believe how quickly

Apr 06, 2018
Mar 21, 2018
Podcast: Preparing for a Secure & Rewarding Retirement

Ask the Experts is a financial forum for education and advice as CNB’s experts answer your questions on financial topics that interest you.  The experts of this show featured Tom Benner, CFP®, and Nancy Bowes, CFP®, Vice Presidents Wealth Advisors.

Mar 21, 2018
Jul 11, 2017
Creating Income in Retirement
For many, retirement has become something different from what it once was. Now, many retirees are just as active in retirement as they were when they were working full time. They are filling their days with meaningful non-profit work and embarking on second and third careers that they likely could not afford to try in their earlier lives.
Jul 11, 2017
Mar 28, 2017
Charitable Contributions from IRAs
The Pension Protection Act of 2006 first allowed taxpayers age 70½ and older to make tax-free charitable donations directly from their IRAs. By making a qualified charitable distribution (QCD) from an IRA directly to a qualified charitable organization, older IRA owners were allowed to exclude up to $100,000 annually from gross income. These gifts, also known as "charitable IRA rollovers," would otherwise be taxable IRA distributions.
Mar 28, 2017
Mar 24, 2017
Podcast: Retirement Planning
The experts of this show featured Tom Benner, CFP® and John Richardson, Vice Presidents from the Wealth Strategies Group, Canandaigua National Bank & Trust.
Mar 24, 2017
Feb 15, 2017
Podcast: Enhancing your Financial Fitness in 2017
The experts of this show featured Jason Fitzgerald, CFP® and Jim Terwilliger, PhD, CFP®, Senior Vice Presidents from the Wealth Strategies Group, Canandaigua National Bank and Trust.
Feb 15, 2017
Jan 11, 2017
Earn Too Much for a Roth IRA? Try the Back Door!

Background Roth IRAs, created in 1997 as part of the Taxpayer Relief Act, represented an entirely new savings opportunity the ability to make after tax contributions that could, if certain conditions were met, grow entirely free of federal income taxes.

Jan 11, 2017
Dec 28, 2016
Two Ways to Roll over Retirement Funds
In general, a rollover is the movement of funds from one retirement savings vehicle to another. You may want, or need, to make a rollover for any number of reasons--your employment situation has changed, you want to switch investments, or you've received death benefits from your spouse's retirement plan. There are two possible ways that retirement funds can be rolled over--the 60-day rollover and the trustee-to-trustee transfer.
Dec 28, 2016
Dec 15, 2016
Playing Catch-Up with Your 401(k) or IRA
If you're 50 or older, you could benefit by making catch-up contributions to tax-advantaged retirement accounts. You might be surprised by how much your nest egg could grow late in your working career.
Dec 15, 2016
Dec 13, 2016
What are Required Minimum Distributions and How Are They Calculated?

Required minimum distributions are the amounts that you must withdraw each year from your traditional IRA, employer sponsored retirement plan, or tax sheltered annuity. (Lifetime minimum distributions are not required from Roth IRAs, but your beneficiaries generally must begin taking

Dec 13, 2016
Sep 27, 2016
Is There a Right Time to Retire?
We all seem to have good timing skills; we use them doing simple things like crossing the street, or cooking a big dinner, or showing up at work on time – unless the dog eats the alarm! And, we all work hard in hopes that we can someday retire. But when? What’s the timing of that?
Sep 27, 2016
Sep 26, 2016
Planning for Both Retirement and a Child’s Education
Younger parents are often faced with the difficult choice of taking care of long-term retirement needs or steering efforts toward ensuring future college expenses are handled. Both may be a long way off, but each will likely require significant savings and growth via intelligent investing.
Sep 26, 2016
Sep 15, 2016
Can I Take Money from My IRA Without Any Penalty?
Can I take money from my IRA without any penalty?
Sep 15, 2016
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