Planning, planning, it’s all about planning when your goal is retirement. When you hang up your career, you don’t want any surprises, or at least as few as possible. In the 21st century, retirement is completely different than it’s ever been. As a kid, I saw people retire after working...
The IRA is a great retirement savings vehicle; money grows on a tax-deferred basis and that’s a good thing. Eventually, though, you have to pay the IRS piper when you choose to withdraw funds for retirement or when you’re forced to withdraw the Required Minimum Distribution at age 72. Let’s...
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If you turn 60 years old in 2020, your Social Security benefit may get hit with a double-whammy. People turning 60 this year are at the tail end of the Baby Boom generation, and the first Americans ever required to wait until age 67 to receive full Social Security...
The most frequently asked Social Security question I get is, “When should I claim my Social Security benefits?” Well, that’s a loaded question, because there are so many moving parts and everyone’s situation is different.  So, here are some considerations when you’re trying to figure out when is the...
Retirement is the time you want things to run smoothly. After all, you’ve spent a lifetime preparing for retirement—saving money, paying things off, having plenty of retirement income. The last thing you want is a notice from the IRS informing you that you’re going to be audited. Chances of an...
It’s no secret. Social Security is in trouble.  It’s been talked about by the American public for years and ignored by politicians who keep kicking the can down the road. For at least 20 years, statements similar to this one from 1981 have appeared on every annual Social Security...
Since the beginning of Social Security in 1935, a monthly Social Security check has become an expected part of retirement income for most Americans. And why not? Money has come out of your check every time you got paid and, supposedly, gone into the Social Security Trust Fund to...