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Clark Randall

Contributor |  In Personal Finance

Clark D. Randall, CFP® is the founder and owner of Financial Enlightenment, a comprehensive wealth management and financial services firm. Clark has served on the Advisory Board of the Journal of Financial Planning and the Dallas Fort Worth Financial Planning Association Board of Directors. He currently teaches financial planning at Southern Methodist University.

8 Ways to Avoid Early IRA Withdrawal Penalties

Personal Finance

8 Ways to Avoid Early IRA Withdrawal Penalties

8 Ways to Avoid Early IRA Withdrawal Penalties

Qualified retirement plans are designed to be used solely for retirement income. Taxable withdrawals from these plans before age 59.5 are generally assessed an additional 10% “early distribution tax” by the IRS. (The additional tax for SIMPLE IRA plans is 25% in the first two years of participation, and 10% thereafter). However, there are exceptions... Read More

7 Documents You Need to Fill Out Before You Die

Personal Finance

7 Documents You Need to Fill Out Before You Die

7 Documents You Need to Fill Out Before You Die

Estate planning is the process of establishing a framework to manage your assets upon death, disability or incapacity. It involves creating documents that outline your wishes. While estate planning is not a pleasant task, it is critical that you implement it before you need it. Here are seven critical documents necessary to cover the aspects... Read More

How to Pick the Right Healthcare Plan for You

Personal Finance

How to Pick the Right Healthcare Plan for You

How to Pick the Right Healthcare Plan for You

Selecting a health insurance plan that works for your family can be an overwhelming task. However, there are four critical steps you can take to make certain that the plan is right for you and your family. 1. Network Ever since managed care took over the health insurance industry in the 90s, insurance plan networks... Read More

5 Things You Must Know About Lifetime IRA Distributions

Personal Finance

5 Things You Must Know About Lifetime IRA Distributions

5 Things You Must Know About Lifetime IRA Distributions

Individual Retirement Accounts, or IRAs, are wonderful retirement accumulation vehicles. Contributions are generally tax-deductible (with limitations), and the assets in the accounts grow without the burden of taxation until withdrawn. Distributions are generally taxed the same as earned income. Roth IRAs are similar to Traditional IRAs in that the account also grows free of income... Read More

Do You Need Disability Insurance?

Personal Finance

Do You Need Disability Insurance?

Do You Need Disability Insurance?

Imagine you had a machine that sat in the corner of your office and generated the equivalent to your entire annual salary. It dependably spits out money, month after month, year after year, without fail. Would you purchase a warranty on that machine? Would you call your insurance agent and buy an insurance policy to... Read More

How Much Life Insurance Do You Need?

Personal Finance

How Much Life Insurance Do You Need?

How Much Life Insurance Do You Need?

It has been said that life insurance is like a parachute. If you don’t have it when you need it, you will never need it again. But how much life insurance do you really need? There are really only two reasons to purchase a life insurance policy: 1) to pay off a debt or obligation,... Read More

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