Let’s start by explaining that when you begin receiving Social Security retirement benefits, you are considered officially “retired” by the Social Security Administration (SSA). You can receive Social Security checks and still work at the same time. However, since you are now “retired” there is a limit to how much you can earn and still […]
How Much Can You Earn and Still Get Your SS Benefits? Read More »
With the downturn in the market these past few months, there is increasing talk about the pros and cons of converting an existing diminished IRA account into a Roth IRA. Both types of IRAs are designed to help you save for retirement while providing a tax advantage, but they do so in different ways. We
Converting your IRA Read More »
We often think of retirement in terms of ‘having enough money.’ However, there are other considerations. This article dives into these other considerations and divides them into three categories: Regret, Health, and Identity. Interestingly, the author tells us that financial worries weren’t among the top three considerations. Over 15,000 retirees, age 60+ were surveyed. What
The Biggest Challenges of Retirement Read More »
One consequence of a recession can be layoffs from work, but many of you may wonder what a recession has to do with you, if you are nearing retirement or are planning to leave the workforce soon anyway. Well, you should know that during a recession stock values could plunge. And if you were relying
What if a Recession Happens When You’re Already Retired? Read More »
“De-Risking.” This is a phrase you may hear more frequently as the market dips lower and lower. It is a term often used when discussing how those who are near retirement can prepare when they know their future years of employment and wages are coming to an end, and their savings have dwindled dramatically due
We try to educate our clients on annuities. Sometimes, it’s a good idea to review the basics. Click here to visit our annuities page. We’ve outlined information such as the different types of annuities, the nature of the underlying investment, the primary purpose of an annuity, the nature of the payout commitment, the tax status
While inflation has certainly been in the news a lot lately, one topic that hasn’t been discussed all that often is private pensions. Unlike Social Security payments, they typically don’t offer cost-of-living adjustments that keep up with inflation rates. State and local government pensions do typically offer cost of living increases, but this sometimes causes
There was a great article in the Wall Street Journal this past week that discussed some interesting ideas. The current tight labor market, coupled with the remote and flexible opportunities in the job market, may make retirees think about going back to work in one form or another. Especially when you consider that working may
“On the surface, retirement planning hasn’t changed all that much over the years. You work, you save and then you retire. But while the mechanics may be the same, today’s savers are facing some challenges that previous generations didn’t have to worry about,” says a recent CNBC article. We’ve touched on some of those challenges
Some Things Have Changed Read More »
Tax-advantaged accounts, or qualified accounts, allow your portfolio to grow without the impact of taxes. This is a major benefit when it comes to saving for your goals. There are multiple retirement account options to choose from, and tax rules vary for each of them. Where you end up focusing your contributions may change over
Tax Rules on Retirement Accounts Read More »
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