David@AdageFinancial.com
If Congress does nothing to address the “fiscal cliff” of expiring federal tax cuts and new tax hikes, your paycheck will shrink significantly in January.

The Tax Policy Center estimates “middle-income taxpayers” would have to pay an average of $1,984 a year more in federal taxes, or more than $38 a week. Include those of other incomes and the average tax hike would be nearly $3,500 a year, or more than $66 a week for nearly 90 percent of American households.

Financial & Retirement Planner David Templeton in Little Rock Arkansas says this could have a negative effect on retirement income.

Annuity News Now

Retiring individuals who lost their jobs are faced with the decision of what to do with their 401K. Retirement planner annuity advisor David Templeton with Adage Financial in Little Rock Arkansas says it a good idea to roll the 401K into an IRA to get control of the funds and keep them safe.