The rules surrounding Required Minimum Distributions are complicated and missing them can be costly. If you have made an error, follow these steps to amend it and seek a penalty waiver
The best way to avoid investing bias is to learn how it commonly shows up—and to pursue an objective investment strategy.
Finding meaning and purpose after your career is a common concern. Here, we share ideas from “Vibrant Living,” a TV segment about developing a healthy, happy retirement.
It may be wise to plan for retirement without full Social Security, since projections indicate the future of the benefit is unpredictable.
Determining whether you need life insurance in retirement can get complicated—and it depends on your unique situation. Let these questions guide you.
Deciding when to begin Social Security benefits is complicated. Weighing these factors, and running careful tax projections, can help.
Learn how diversifying your taxability (not just investments) is key to creating a sound retirement plan.
Keep in mind that claiming Social Security benefits before FRA results in a permanent reduction in the benefit amount, whether you are claiming spousal benefits or your own.
Immediate fixed-income annuities are often sold quoting an interest rate that is not available in certificates of deposit or bonds. Generally, the interest rate quoted far exceeds more traditional fixed-income products and is quite a lure to investors.
Estate tax is levied against someone’s estate upon death and is based on the size of the total estate. Inheritance tax is levied against the heirs of an estate.
With appropriate income withdrawal strategies, a retiree can lessen their exposure to IRMAA surcharges.
It is the responsibility of the surviving spouse or the estate’s executor to notify lenders on joint accounts, to close out accounts in the deceased’s name, and to notify the three major credit agencies.
Studies have shown that some heirs ultimately end up in worse financial shape after receiving an inheritance. This is so common that psychologists call it sudden wealth syndrome, although it is not an actual psychological diagnosis.
These misperceptions can end up costing you a lot of money, and more importantly, years of your life working for someone else rather than pursuing your passions.
You may be shocked to learn that new national and state laws may have prohibited your agent’s power to act.
It’s wise to use an adviser whose primary focus is on strategies that maximize the retirement experience.
Transitioning from work to retirement might be the biggest financial challenge people face. We’ll cover planning during Phase 3 of your retirement journey on this edition of Project Wealth.
Don’t leave money on the table.
Could a happy retirement still include working, but only doing the parts of our jobs we enjoy?
It’s just as important to diversify how funds are saved as it is to diversify how they are invested.