Looking back on the year that was, it may seem like 2016 was more ridiculous than educational, but the author of today’s article states that, “when it comes to takeaways that can improve your retirement planning and investing, I think there’s one big lesson we should all draw from 2016.” From the markets’ worst start to a year ever, to…
December 31st is the deadline for those over age 70½ with tax-deferred retirement accounts to take their required minimum distributions (RMDs) and, after outlining the rules relating to RMDs (such as that hefty 50% penalty the IRS imposes on those who fail to take their distributions on time), today’s article provides some tips for taking RMDs. When – if ever…
While it may not be something you are eager to do amongst holiday festivities, the financial planners cited in today’s article believe “the end of the year is the perfect time to take a look at where you are when it comes to retirement and make adjustments.” So, assuming you are willing to set aside a couple of hours before…
Today’s article notes that, with the Fed finally moving to raise interest rates, “retirees will soon be able to park their money somewhere safer than dividend-paying stocks.” However, the author does not advocate abandoning these stocks altogether, with there still being “under-the-radar dividend payers that offer considerable value for investors willing to take a little more risk.” Three such stocks…
When it comes to whether personal finances or portfolio management is more important, the author of today’s article is firmly in the personal finances camp. As such, he lays out a list of 20 personal finance rules, or “20 simple ways you can be smarter about your money.” Among these rules, why does he state that your goal should not…
New Year’s resolutions are made to be broken (today’s article notes that only 8% of people actually follow through on their resolutions). But breaking some resolutions has greater consequences than breaking others. When it comes to resolutions pertaining to retirement goals, procrastination can have serious ramifications. As such, the author of today’s article outlines “some steps to set the right…
While the author of today’s article does not expect that the next bear market will be as painful as the last, he notes that those approaching or already in retirement still “need to keep a sharp eye on risk.” As such, he proceeds to highlight what he believes are the best stock funds for 2017 for retirees. Specifically, these are…
“We think this is a policy shift of enormous magnitude. If Reagan was a Richter 8, this is a Richter 9.” This is how one financial planner cited in today’s article sizes up the tax changes that will come under President Trump and the GOP-controlled Congress. While the general advice is to defer income and accelerate deductions, what specific moves…
“To do something extraordinary (like retiring at age 52), it takes extraordinary thinking,” states the author of today’s article, which seeks to identify the “money mindset” that can help one beat the odds and achieve the goal of retiring early. Using the example of her neighbor – who retired at 52 – as a guide, the author outlines a number…
When it comes to retirement planning, today’s article provides a case study in what not to do. In fact, it provides seven of them, as relayed by the financial planners who have seen people make these big retirement planning mistakes first-hand. From being too optimistic (or, conversely, too pessimistic) about one’s financial situation, to underestimating the impact taxes will have…