Traditional IRAs, 401(k)s, and other similar retirement accounts enable you to save money before taxes, allowing your savings to grow for decades. However, the IRS will eventually require you to begin withdrawing a portion of your savings on an annual basis. These withdrawals are known as required minimum distributions, or RMDs, and the income you […]
New RMD Rules For 2025 Read More »
There is no one “ideal retirement.” But there are many ways to have a happy retirement if you have reflected on the choices you have, and what you are willing to leave to chance. The way you answer the following questions may help you decide what may need more thought before you begin your retirement:
We frequently write about longevity and how important it is to have savings we don’t outlive. And while we’ve always striven to give our clients options for products where the income stream continues no matter how long you live, we are still often asked for a ‘number’ so that can be ascribed to someone’s projected
By the middle of the twenty-first century, one out of every six people will be 65 or older. In the United States, the Social Security Administration is expected to be unable to pay full benefits beginning in 2034. These demographic and financial pressures are frequently thought to be the eventual cause of a retirement crisis.
Retirement Age Is Changing Read More »
Working after retirement brings with it the need to understand certain tax and contribution rules governing the way you can use and/or continue to contribute to the money in your qualified retirement savings accounts. Looking first at continued contributions, in most cases, you should be able to, regardless of your age. There are no income
Working After Retirement Read More »
There is nothing generally inherent in any given year that says it’s a bad or good time to retire. The question that needs to be answered is whether you’re ready financially and emotionally. So, how do you determine if you are ready? Begin by asking yourself if you have estimated your stream of lifetime retirement
Is This Year a Good Year To Retire? Read More »
We often think that emotions only impact inter-personal decisions, however making consequential financial decisions in a heightened emotional state also generally isn’t a good idea. Behavioral psychologists have identified a few common biases that can undermine our decision-making skills. While some are rooted in emotion, others are what we think of as mental shortcuts our
Behavioral Decision Making Read More »
Planning for the challenges of aging is one of those situations we are probably inclined not to want to think about, either for ourselves or our extended family. The term “diminished financial capacity” is often bandied about as we age and describes a decline in a person’s ability to manage money and financial assets to
Challenges of Aging Read More »
Losing a job is always tough—but it can be especially daunting in your 50s or 60s. At this stage, many individuals are juggling substantial financial obligations, such as mortgage payments, supporting children through college, or looking after their aging parents. Securing a new role with comparable salary and benefits can be a significant hurdle. As
Late-Career Job Losses Are Affecting Retirement in America Read More »
We wanted to bring to your attention the recent increase in social media scams designed to entice you into fraudulent financial activities. We have probably all received the very real-looking – but fraudulent – emails that seem to come from PayPal, Amazon, Best Buy, and McAfee, which ask for us to contact them or to
