Thanksgiving is a good time to think about how you express gratitude. Some people donate their time or money to a charitable organization, or just enjoy the simple pleasures of retirement. The great thing about giving is that you often get something back. Volunteering is a great way to make new social connections, you might [...]
Most people don’t expect their taxes to disappear in retirement, but they may assume they’ll decrease substantially. However, this may not be the case. Between collecting Social Security, interest, dividends, and Required Minimum Distributions, your retirement income could be substantial. All of these types of income can be subject to tax, and there are strategies [...]
You’ve worked for your money, and retirement is the time to have your money work for you. But what does this mean? Basically, your goal in retirement should be to turn what you’ve saved into retirement income. Many Americans are worried about running out of money, since pensions are rare and there are reasons why [...]
Many Baby Boomers are watching their parents age to the point where they should move out of their home – and refuse. Maybe it’s that they are stubborn when it comes to their independence, or maybe they refuse to be a burden on their children. While these sentiments are admirable, older children can be faced [...]
There’s no doubt that our culture is obsessed with youth and often overlooks the benefits of aging. You may not have looked forward to getting older when you were younger, but now that you’re nearing retirement you may have gained a different perspective. The fact is, older Americans tend to be happier, according to a [...]
Most people know that April 15th is Tax Day, but they may not know that it is also the deadline to contribute to an IRA. Even if you file for a tax extension, you must send your IRA contribution by April 15th. Contributing to an IRA is one good way to save for retirement, so [...]
Now that you’re nearing retirement, the term “market volatility” might stir up different feelings than it 30 years ago. Older workers and retirees understand that they have less time to make up for losses in their investments and to ride out future market crashes than they did when they were younger. And with life expectancies [...]
If you’ve contributed to a 401(k) or IRA, you should prepare a strategy for your RMDs (Required Minimum Distributions). After many years of enjoying tax free growth, your retirement savings from non-Roth (i.e. traditional) accounts will eventually be subject to tax. Rather than be caught off guard, take control and learn the ins and outs [...]
Even in retirement, taxes are a guarantee. Your Social Security benefit, capital gains, and retirement account distributions can all be taxed, leaving you with less retirement income than you planned on receiving. Your tax burden is important to consider when planning for retirement, and can be your most significant expense. Here is how common retirement [...]
Whether your team won or lost this Sunday, we can all agree that it’s no easy feat to make it to the big game at the end of the season. This game is the culmination of the both teams’ practicing, strategizing, and collaboration all season long. Creating a game plan for football is a lot [...]
