There’s a common misconception that Medicare is a simple, automatic process when you turn 65. Nothing could be further from the truth. The responsibility to enroll is on your shoulders, and if you miss deadlines or don’t enroll in just the right way, you can incur penalties that will consume chunks...
Just
the thought of retirement is fraught with what-ifs. What if I live 30 or 40
years after I retire? What if I run out of money? What if I need long term
care?
But
the retirement issue almost no one talks about is Senior depression. It’s
usually underdiagnosed, seldom recognized, and almost never planned...
IRA
rollovers are as common as drinking water. But if your rollover isn’t done
correctly, it can cost you taxes and penalties, sucking out money that could
have been used for your retirement. In this article from MarketWatch, you’ll
discover 4 of the most expensive IRA rollover tax traps and how to avoid
falling...
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, get the life
expectancy factor and divide...
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 simple—they don’t have enough money. For...
“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.
Unfortunately,
the retirement dream we’ve...
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 to save
for...
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 include whether...
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 higher-income
workers will...
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 so you...