With the new make-up of Congress post midterms, the author of today’s article advises that “future retirees should be paying close attention to retirement legislation these next few years.” She proceeds to outline what to expect in regards to pensions, Social Security and Medicare, the Obama-era fiduciary rule and retirement plans with a split Congress and Trump White House. For…
The old three-legged stool for retirement consisted of a pension, Social Security and personal savings. However, with pensions now largely obsolete and the future of Social Security in question, the author of today’s article outlines “the new three-legged retirement stool”, which he sees as consisting of personal pre-tax savings, personal after-tax savings, and income from personal hustle. For more on…
The widely referenced 4% rule suggests that retirees can safely withdraw that amount from their retirement accounts each year. However, the author of today’s article notes that the “wisdom” of the 4% rule collapses when it slams into the reality of a market slump. Instead, he advocates for another strategy for funding your golden years: “investments paying outsized cash dividends…
Here’s some sobering news for those nearing retirement: In a new survey of recent retirees, almost half indicated that they wished they had prepared better for taxes in retirement and 1 in 4 reported “having paid thousands of dollars more in taxes in retirement than they had expected.” So what can future retirees do now in order to avoid finding…
Required minimum distributions from retirement accounts are generally unavoidable for retirees – unless they want to incur a substantial penalty for not taking them. For those who don’t need the money (or the tax bill), this can lead to resenting RMDs. Today’s article, however, outlines how, rather than being a necessary evil, RMDs can actually serve as an opportunity to…
What does the current amount of your retirement nest egg translate into in terms of future monthly retirement income? In light of the fact that a recent piece of research found that more than half of U.S. workers aged 20 to 79 have difficulty figuring out this conversion, today’s article identifies two ways to estimate that monthly income figure –…
Given its recent moves, investors have reason to be anxious about the market – and none more so than investors who are at retirement’s doorstep. For those in that group, today’s article outlines a number of strategies to consider, as identified by top financial advisers. First, however, the author advises that “It’s critical that you…draft a retirement-income plan”, noting that…
Whatever your planned retirement age, you’re likely to retire closer to age 61 than you think. This is one of the findings of a recent study of retirement data, which found that “planned and actual retirement ages align at 61, with those planning to retire earlier than that tending to retire later than expected, and those planning to retire after…
What’s the one thing most preventing you from building wealth? The author of today’s article makes the case that, when it comes to building wealth, “one financial decision in particular has been absolutely catastrophic for people at every income.” In fact, he outlines how taking a different course when it comes to this particular financial decision has the potential to…
The author of today’s article notes that, while “most retirees can sail through the first nine months of each year without a lot of financial to-dos that carry hard-and-fast deadlines…once the fourth quarter kicks off, the calendar gets a little fuller and financial deadlines come up fast and furiously.” As such, she proceeds to outline the key fourth-quarter dates that…