Below you'll find a list of all posts that have been tagged as “Retirement Planning/Life Stages”
Required minimum distributions take on added urgency as you approach (and reach) age 73, with specific rules and tax implications Seventy-three is an important age milestone for those in or near retirement, as it marks the time when required minimum distributions (RMDs) begin to be withdrawn annually from Individual Retirement Accounts (IRAs) and employer-sponsored retirement plans (previously, the threshold was …
Retirement savings isn’t the only financial goal you should consider in your lifetime. There are other milestones that you ought to take into account as well. When it comes to financial stability, people tend to focus on paying off debt and saving for retirement. In reality, many other financial goals beckon to individuals during their lifetime. Because of this, it’s …
We all know it’s important to save for retirement. Even if you’re saving for retirement, some common mistakes might cause you to run out of money in retirement. Avoiding these retirement savings mistakes can help as you start your road to retirement.
As the old saying goes ignorance is bliss. Though that can have tragic repercussions towards saving for retirement. This weeks episode we discuss how people can develop a delusional vision of where they are at on the road to retirement.
Tips for organizing your estate to preserve your assets for your designated beneficiaries. Estate planning is not an exercise relegated to the wealthy alone. Indeed, anyone who wants to plan for the distribution of their assets or exercise of your responsibilities after you die or become incapacitated should pursue estate planning. And for those who are wealthy with many assets, …
You or someone you love may need long-term care at some point in your life. Planning ahead can help ease your concerns about the cost of care. When people hear “long-term care”, they often think of a nursing home. But there are a broad range of health services and providers that fall under the long-term care category. Nursing homes and …
While credit cards can be convenient and often come with useful features, it’s important to minimize debt when retirement is near. These days, having a credit card is practically a necessity, even when you are retired. It’s hard to do things like buy airline tickets, rent a car, or place an order online without one. And, while monitoring your credit …
The financial considerations of retiring “earlier” or “later” If you can retire by choice, the question of “when” comes to mind. Here’s a look at the pros and cons of retirement at three different ages. At 62, you can claim Social Security. That alone prompts some baby boomers to consider retiring. Leaving work at 62 has a couple of disadvantages, …
Careful planning in the months before retirement can help you ensure a smooth transition. Key Points You should try to reduce or eliminate credit card debt before you retire. Make sure to determine which accounts you will withdraw from first. Remember to work with your financial advisor to develop an appropriate asset allocation strategy By the Numbers 59½ is the …
Key Points Today is the best time to start planning for retirement. Why? Time can be an investor’s greatest asset. Once you have a plan in place, it is easy to modify. Investing is a habit that is best started as soon as possible. Your retirement is ultimately your responsibility. Rule 1: Pay yourself first. Many financial advisors start their …
