Tag: Retirement Planning

SECURE ACT Lesser Known Provisions

Feb 20, 2020

SECURE stack of binders and papers
What Younger Investors need to know

The SECURE Act passed into law in late 2019 and changed several aspects of retirement investing. These modifications included modifying the ability to stretch an Individual Retirement Account (IRA) and changing the age when IRA holders must start taking requirement minimum distributions to 72-years-old.1,2 (more…)

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Retirement Is a Beginning

Feb 19, 2020

Beginning start line road
See if you are prepared to begin your retirement by answering four key questions.

How do you know you are psychologically ready for retirement?

As a start, ask yourself four questions. (more…)

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That First Required Minimum Distribution from Your IRA

Feb 17, 2020

stop watch alarm clock IRA
What you need to know in a timely manner

When you are in your seventies, Internal Revenue Service rules say that you must start making withdrawals from your traditional IRA(s). In I.R.S. terminology, these annual withdrawals are considered your Required Minimum Distribution (RMDs).1 (more…)

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Retirement and Adult Children

Feb 14, 2020

Retirement strategy and finances calculator writing formulas
Supporting a family can put a crimp in your strategy

Families are one of the great joys in life, and part of the love you show to your family is making sure that their basic needs are met. While that’s only to be expected from birth through the high school years, many households are helping their adult children well into their twenties and beyond at the cost of their own retirement savings. (more…)

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Where Will Your Money Come From After You Retire

Feb 10, 2020

white Question Mark Written on black chalkboard to retire
Retirement income may come from a variety of sources

For many people who retire, income may come from a variety of sources. Here’s a quick review of the six main sources: (more…)

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Retire Single

Feb 7, 2020

Retired Person Sitting on Bench in Desert
If you are retiring single, income replacement and staying socially engaged should be considerations.

About 6% of Americans 65 and older have never married. That statistic comes from a 2018 Census Bureau report, which also found that 22% of Americans aged 65-74 live and retire alone. (more…)

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The Secure Act

Jan 17, 2020

The Secure Act What You Need to Know
Long-established retirement account rules change.

The Setting Every Community Up for Retirement Enhancement (SECURE) Act is now law. With it, comes some of the biggest changes to retirement savings law in recent years. While the new rules don’t appear to amount to a massive upheaval, the SECURE Act will require a change in strategy for many Americans. For others, it may reveal new opportunities. (more…)

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Healthcare Costs are Cutting into Retirement Preparations

Jan 10, 2020

 

health supplements on dollar bill
How healthcare costs affect retirement planning

You may have seen this statistic before or one resembling it: the average 65-year-old retiring couple can now expect to pay more than $250,000 in healthcare costs during the rest of their lives.

In fact, Fidelity Investments now projects this cost at $285,000. The effort to prepare for these potential expenses is changing the big picture of retirement planning.1

(more…)

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Wise Decisions with Retirement in Mind

Jan 1, 2020

Book and Clock
Certain financial & lifestyle choices may lead you toward a better future.

Some retirees succeed at realizing the life they want; others don’t.Fate aside, it isn’t merely a matter ofstock market performance or investment selection that makes the difference. There are certain dos and don’ts – some less apparent than others – that tend to encourage retirement happiness and comfort. (more…)

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401(k) Loan Repayment

Dec 30, 2019

Man holding a gold bag named 401K
A longer repayment time can be an advantage.

The conventional wisdom about taking a loan from your 401(k) plan is often boiled down to: not unless absolutely necessary. That said, it isn’t always avoidable for everyone or in every situation. In a true emergency, if you had no alternative, the rules do allow for a loan, but they also require a fast repayment if your employment were to end. Recent changes have changed that deadline, offering some flexibility to those taking the loan. (Distributions from 401(k) plans and most other employer-sponsored retirement plans are taxed as ordinary income, and if taken before age 59½, may be subject to a 10% federal income tax penalty. Generally, once you reach age 70½, you must begin taking required minimum distributions.) (more…)

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More Insights

Feb 21, 2020

Getting rich quick can be liberating, but it can also be frustrating. A sudden wealth windfall can help you address retirement saving or college funding anxieties, and it may also allow you to live and work on your terms. On the other hand, you’ll pay more taxes, attract more attention, and maybe even contend with … Continue reading “When a Windfall Comes Your Way”

Feb 20, 2020

The SECURE Act passed into law in late 2019 and changed several aspects of retirement investing. These modifications included modifying the ability to stretch an Individual Retirement Account (IRA) and changing the age when IRA holders must start taking requirement minimum distributions to 72-years-old.1,2

Feb 17, 2020

When you are in your seventies, Internal Revenue Service rules say that you must start making withdrawals from your traditional IRA(s). In I.R.S. terminology, these annual withdrawals are considered your Required Minimum Distribution (RMDs).1

Feb 14, 2020

Families are one of the great joys in life, and part of the love you show to your family is making sure that their basic needs are met. While that’s only to be expected from birth through the high school years, many households are helping their adult children well into their twenties and beyond at … Continue reading “Retirement and Adult Children”

Feb 12, 2020

When interest rates start to climb, will these be the CD to own? Step-up certificates of deposit (also called  rising-rate CDs) are fixed-income investments with a bit of wiggle room. When you have CDs with a step-up provision, you have a chance to exchange the initial yield for a better one as interest rates rise. … Continue reading “Step-Up CD”

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