Are You Getting Everything You Can From Your Social Security Survivor Benefits?
There’s nothing easy about losing someone you care about, regardless of their relationship to you. Not only do you count on the important people in your life for emotional support, but you may also depend on them for financial support. If you’ve lost someone and you’re eligible for Social Security survivor benefits based on their […]
5 Strategic Ways for Retirees to Use Their Required Minimum Distribution (RMD)
You’re probably aware of required minimum distributions (RMDs) if you’re retired or nearing retirement. But did you know that RMDs were first mandated in 1974, the same year individual retirement accounts (IRAs) were introduced as a savings vehicle for Americans without pensions? Given that Americans would spend decades making tax-deferred contributions to their retirement accounts, […]
4 Questions Workers Should Ask Before Retiring in a Bear Market
If you’re nearing retirement and watching your retirement accounts take a swan dive, I feel your pain. My husband is about 48 months away from his dream retirement date, and while I have no desire to retire, I do want it for him. However, it’s impossible to ignore the fact that the U.S. stock market […]
Avoid These 4 Common Required Minimum Distribution (RMD) Mistakes
How great is it that a tax-deferred retirement plan allows you to invest pre-tax dollars? Such plans encourage saving for your golden years while reducing the taxes you owe. The only catch is this: When you invest in a tax-deferred retirement plan, you eventually must begin making withdrawals and pay taxes on the money withdrawn. […]
I Absolutely Prefer a Traditional 401(k) to a Roth IRA for Retirement Savings. Here’s Why.
Are you looking to optimize your retirement savings options now to maximize your income later on? It’s easier said than done. Different types of retirement accounts impose different contribution limits. There are also differing tax consequences with different kinds of accounts. Some of them postpone taxation of this money until it’s withdrawn, while others allow […]
Attention, Retirees: Here’s Your Tariff Playbook
The introduction of tariffs at the start of the month shouldn’t have come as a surprise, considering President Trump pledged to impose them on trade partners throughout his bid for office. But once things became official in early April, a world of upheaval ensued. Stocks plunged. Economists increased their recession warnings. And a lot of […]
