Will a Slow Economic Upswing Mean Paying Back Retirement Funds?

6:54 pm Uncategorized

While many Americans are rating the current economy as “fair to poor” according to a Citi survey, they mostly agree that things are getting better slowly but surely.

Many of those surveyed noted that they will remain prudent where spending and saving are concerned, but they feel that the economy as a whole is on an upward trend.

So what will this mean for estate planning in California? Many people borrowed from retirement accounts such as 401(k)s and IRAs when they found themselves trapped in a subprime mortgage or other precarious financial situation. If Americans think things are on the upswing, they may be more likely to pay their retirement funds back — slowly but surely, just as the market trudges toward bullish again.

If you have borrowed from your retirement fund or other assets within your California trust, it may be time to consider funneling some cash back in — especially if you’re one of the lucky ones who actually get a tax return rather than owing the fed.

If you have questions about the steps you need to take to add to the assets in your trust, or if you’re ready to plan your California estate, call Jeff Matsen today, or simply visit our Contact Page for further details. Jeff Matsen is a highly seasoned and well-respected California estate planning lawyer, and has been named as a “California Super Lawyer” by Los Angeles Magazine.

Help is available to you by contacting your Southern California financial planning experts today.

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