Below you'll find a list of all posts that have been tagged as “retirement planning”
As we look towards our golden years, retirement planning becomes increasingly necessary to ensure a financially secure future. However, one aspect that is often underestimated in this process is tax planning. While taxes may seem like an inevitable burden, proper tax planning can significantly impact the size of your retirement nest egg. In this blog, we will discuss the importance …
Could you possibly arrange multiple income sources? On average, women receive 23% less Social Security income than men. In 2014 (the most recent year of data available), the average yearly Social Security benefit for a woman 65 or older was $13,150, compared to $17,106 for her male counterpart.1 This is one example of the income gap plaguing too many women …
Its effect is subtle, yet significant. Even mild inflation eventually reduces the value of a dollar. If consumer prices rise just 2% a year for the next 25 years, $50,000 will buy the equivalent of $30,477 by the end of 2041. Or to put it another way, a car that costs $50,000 today will cost $82,030 by then. If inflation …
You’ve worked long and hard to accumulate your retirement assets that you are using to help finance your retirement. Now, it’s time to start drawing down those assets. Exactly how you liquidate your assets will affect your tax and impact how long those assets last, so it pays to plan a withdrawal strategy that is efficient and maximizes the benefits …
Summertime seems to always bring a new shark attack movie. This summer is no different with 47 Meters Down. The basic plot of the movie has divers in a cage dropped down for the first time surrounded by sharks. What could possibly wrong? Many soon to be and current retirees are also facing a similar challenge in generating income in …
If you are opening an (Individual Retirement Account) IRA for the first time or need a refresher course on the specifics of IRA ownership, here are some facts for your consideration. IRA’s in America IRAs continue to play an increasingly prominent role in the retirement saving strategies of Americans. According to the Investment Company Institute (ICI), the U.S. retirement market …
When do you want to retire? Yesterday? Is your money going to last? It’s simple. Just tell me when you are going to die and we can come up with the perfect plan for your retirement. If you are like most of my clients, you are working away and putting away money for that future retirement date. But what if …
Kinds of IRAs and Prohibited Transactions You can open different kinds of IRAs with a variety of organizations. You can open an IRA at a bank or other financial institution or with a mutual fund or life insurance company. You can also open an IRA through your stockbroker. Any IRA must meet Internal Revenue Code requirements, which are listed below …
If you are a consistent planner for the future, then you should have been in an excellent financial position when you touch your 40’s. Most of us, however, are not. It is clear that we have a lot of catching up to do. Remember, financial planning is one of the most important actions at this juncture in your life. If you are …
Having the choice to retire requires financial freedom. Proactive retirement income planning can help you pursue this freedom. Here are 3 simple steps to help you start planning right away: Define your Retirement Goals Develop a Plan to Generate Income Review your plan annually Define your Retirement Goals Whether you’re looking to better your health or your financial security, establishing …
