Last week I wrote about some important 2021 updates for folks of a certain age who are taking distributions from their retirement accounts. But how about everyone else who’s still scratching and clawing ...
It can be hard to think about what you want your retirement to look like. How do you plan to spend your time? How will you structure your week when Mondays can feel just like Saturdays? Many people assume ...
... saved money but not enough to pull the trigger on early retirement. They have young kids or are getting their kids through college. They’ll soon need cash but the only buckets they can draw from are their ...
There’s a slow but growing trend of workers thinking about a phased approach to retirement. The idea is that instead of working full tilt to some predetermined age and then quitting cold turkey, you start ...
... All kidding aside, the biggest risk isn't any of these, though each poses its own complications. As retirees look ahead and try to plan for a long, happy retirement, future long-term care (LTC) expenses ...
... where, to spend their time in retirement.
According to the Social Security Administration, around 400,000 American retirees are living abroad. This number is expected to grow as more baby boomers try ...
... interest, gains, losses, and so forth aren’t normally reportable each year when they happen within a retirement account. All the IRS cares about is money leaving the account and why, so that’s what’s on ...
... Do you have that kind of cash sitting at the bank or maybe in a brokerage account? You won’t want to hit your retirement accounts for this so the cash has to be readily available.
There’s a processing ...
... to say. “Fed Days” are typically volatile, so it’s best to expect that tomorrow and perhaps off and on for what remains of the year.
I’ve recently mentioned the importance of checking your non-retirement ...
... and so forth, not to your retirement accounts.
First things first – Why do we want to harvest losses?
Losses in our investment accounts are referred to as unrealized, or “paper losses”, until we sell ...
... as we prepare to close out the year.
Harvesting losses – This would likely relate to bonds or bond funds and is only relevant for non-retirement accounts. Look at your “unrealized gain/loss” detail ...
... to draw some clear lines in your finances between what you need to keep short-term and liquid, and what you can let ride in the markets for long-term growth to fund retirement, college costs, and so forth. ...
... to $72,500 by the time I turn 65. Using the 4% withdrawal rate that long has been considered a relatively safe level of retirement spending yields an initial monthly withdrawal of $242. With 3% annual ...
... benefits before their full retirement age, even as they report recognizing how this will cost them money in the long-term.
The survey was covered in USA Today recently, but I’ll share sections of the ...
... $500,000 can go pretty far toward funding retirement while millions in the hands of a spendthrift might never be enough.
Whatever the dollar amount, we need a better way to determine if what we have ...
... current levels of Social Security benefits during your retirement. Who knows what our elected officials end up doing regarding this issue, so it’s prudent to plan and save appropriately to nurture and ...
... these days, and the story is available at the following link. One finding was that people said they got happier as they aged, which bodes well for those thinking about retirement. Physical activity and ...
... of use, high quality and liquidity, not long-term appreciation. That’s the realm of your growth-oriented investments likely held in your retirement accounts. Again, focus on locating your money and risk ...
... and long-term savings goals. This could mean having a savings account for unexpected expenses, a separate account for your emergency fund, and a longer-term savings plan for big purchases or retirement. ...
... your taxes better than letting the government hold thousands of your hard-earned dollars for a year at no interest, but I digress… You also can’t buy I Bonds in retirement accounts. I Bonds can only be ...