Five Tax Strategies to Help Your Money Last in Retirement
The intricacies of tax planning are a critical component of your overall retirement strategy. Minimizing taxes in retirement isn’t just about reducing today’s tax bill — it’s about ensuring that your hard-earned money lasts longer and that you can draw from your assets efficiently. By applying a logical, data-driven approach, you can create a retirement tax strategy that maximizes your income and …
How to Plan for Retirement’s Go-Go, Slow-Go and No-Go Years
When retirement planning, it’s best to expect to do the big (and more expensive) stuff early on, when you’re healthier, then slow things down as you get older. What comes to mind when you hear the term “retirement planning”? Most people think of investments, Social Security, health insurance, tax strategies and other money-related issues. These pieces are all a big …
Three Ways You Can Flip the Script on Your Taxes
Does it feel like the tax code is beating you up at times? Instead of accepting that feeling of getting pushed around, here’s how you can pay what you must but no more. Is it really possible to turn a bully into a buddy — or maybe a temporary ally, at least? It happens all the time in the movies …
Can You Build a Retirement Income Plan With Both Risk and Reliability?
Two strategies for making retirement savings last — probability-based income planning and guaranteed income planning — can help ensure you have what you need in your golden years, but which is right for you? Two very different strategies can help retirees’ retirement savings last their lifetime, and the one that works for you, or even a hybrid plan, may depend …
How Healthy Is Your Retirement Plan in the Midst of the COVID Crisis?
Give yourself a financial checkup today to see if you’re doing all that you can to have a healthy and happy retirement. Here are eight tactics to help boost your bottom line. As the world moves into yet another year of dealing with the persistent coronavirus pandemic, we’re all still struggling to wrap our minds around the many challenges we …
COVID-19 Adds Even More Incentive to Future-Proof Your Retirement with a Roth
Considering the stimulus spending going on, tax rates this low aren’t likely to last, so take advantage now. Back in 2018, when the Tax Cuts and Jobs Act (TCJA) went into effect, did your financial adviser encourage the idea of changing how you save for retirement? If you took action, you likely established a strategy to withdraw some or even …
‘Golden Decade’ Offers Golden Opportunity to Get Taxes Under Control
If you are between the ages of 60 and 70, the time could be right to pump some money out of big, fat 401(k)s and traditional IRAs into tax-free Roth accounts. If a financial professional planned your 60th birthday party, the balloons and streamers wouldn’t be black. They’d be gold. Some advisers even refer to the ages between 60 and …
Lack of Financial Information Is No Longer the Problem. Knowing How to Process It Is.
The key to good financial decisions is knowing how to sort through the flood of information out there. How do you do that? Ask the right questions. Specifically, these five. Thanks to new technologies, investing is more accessible than ever. You can buy stocks, bonds and mutual funds with a click of a mouse, or even with an app on …
C.A.N. You Handle It? Dialing in Your Investment Risk
Your risk tolerance can be boiled down into three words: capacity, attitude and need. Getting a grip on those concepts is the key to designing an appropriate portfolio for your retirement. “In investing, what is comfortable is rarely profitable.” So says investment adviser to PIMCO, Robert Arnott. While there’s certainly truth to this, most investors would be wise to consider just …
You’re Just 5 Steps Away from Achieving Your Ideal Retirement
First off, do the math to find out if you have enough saved to actually retire. It’s no mystery that building a successful retirement requires planning. What can be mysterious, however, is what the process actually looks like, leaving many aspiring retirees to guess, hope and essentially throw darts and pray a few land at least near the bull’s-eye. This …
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