As we age, we are increasingly confronted by those younger who insist on pointing out “things have changed,” and they, as part of the younger generation (which they take pride in telling us we are not), know a better way to go about planning for the future than we do. While certainly, there are new […]
After years of diligent saving, many retirees become unsettled by the volatility in the markets, along with the risk of the unknown. The free-floating anxiety that exists when questions like when should you start withdrawing funds, how much is too much, will you have enough money to cover unexpected expenses, what if you outlive your
We all know that it is not uncommon for one spouse to be the primary decision-maker when it comes to managing a couple’s money. But this approach can have consequences. One major consequence is if the spouse with the hold on the couple’s financial situation becomes incapacitated or dies, the other spouse may find themselves
Conversions of a traditional IRA to a Roth can differ individual to individual, even where the same sum of money is involved. Let’s take, for example, two individuals, each with $100,000 in a traditional IRA, that the funds were identically invested and would double over 10 years. The tax rate was posed to be 30%.
We were recently asked why we believe that an annuity can help with your retirement strategy. Three reasons come readily to mind. The first reason is that they can be used as asset protection. Fixed annuities, for example, are safer for your money than volatile investment options. The second reason is the possibility of a
Some scams are run on a daily basis, and are so intricately made, they can trick even the smartest of us. The scams we’re talking about come in the form of emails where the sender shows up in your email box as purportedly coming from an entity you recognize, such as the Social Security Administration,
Retirement is different from your working years–you’re no longer putting in time and collecting a paycheck regularly. Creating a sustainable paycheck in retirement is, however, an art worth mastering. Without a full-time employer, retirees are left with the task of cobbling together a sustainable cash-flow strategy that will not only cover their expenses, but also
Retirement Paycheck Read More »
We’ve spoken in the past about annual contribution limits into qualified accounts, but have not focused on the nuances of the income limits for tax deductibility of those contributions. It’s very important to speak with your tax preparer, as specific limitations will apply. For example, in the scenario where a spouse has a 401(k) and
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Continuing on from last week, did you decide what kind of retiree you are? Regardless of whether you think of yourself as the Dynamo, the Philanthropist, the Homebody, or the Adventurer, it is recommended that you start building your strategy early. Along with newfound freedoms, retirement can also mean confronting uncomfortable topics and scenarios. The
So, Did You Decide? Read More »
“What kind of retiree are you?” An interesting concept that we had some fun diving into, and wanted to share it with you. Are you “The Adventurer”? Do you want to stay active, are you in good health, and have you always wanted to fill up your passport pages? Are you “The Philanthropist”? Do you
What Kind of Retiree Are You? Read More »