If you have an IRA then you know that at age 70 ½ the government forces you to begin taking distributions so they can tax money that has, up to now, escaped their clutches. Most people use the Uniform Lifetime Table to figure their Required Minimum Distribution. Find your age,...
For the first time in U.S. history, more than 20% of retirement age workers are choosing to stay in the workforce. That’s more than double the number who made that decision in 1985, according to a new report from United Income. The reason is...
“I can’t wait to retire!” Have those words ever come out of your mouth? Oh, the thought of divorcing that demanding, unreasonable boss; doing what you want when you want; burning all the bridges you never intend to cross again. It’s the payoff for all those years of hard work.
According to a Gallup poll, 51% of nonretired Americans don’t think they will have enough money to live comfortably in retirement. Retired Americans are more confident, with 78% saying that they have enough money to live comfortably. However, wherever you are on the spectrum, no matter if you are just starting...
Among America’s older population there is a growing concern about the state of their retirement and many are choosing to stay in the workforce much longer. In a previous article I listed concerns of older workers about whether they will ever be able to retire; concerns that...
At the beginning of every year, Americans receiving benefits from Social Security and Medicare find out what changes have taken place and what it means to their bottom line. This year is no exception. For 2019, Social Security recipients get the biggest annual raise they’ve had for quite a while. Some...
With the end of the year in sight, lots of plans are being made—what gifts to buy, what the menu will be, and how to shed the extra weight that will inevitably be acquired. But part of your holiday planning needs to include a year-end investment checkup...
Anyone 70 ½ years old or older with an IRA has discovered the pesky government requirement that forces you to take money out of your IRA whether you want to or not. The annual required minimum distribution is the government’s way of saying, “You haven’t paid taxes on your...
By Danielle Howard, CFP in MarketWatch Danielle takes her plumbing metaphor a bit too far but provides sound advice on intentional money management in retirement. By which she means you need to pay attention to the little stuff, stop the small leaks before you find yourself with a depleted retirement...