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...
“So, who do I want
to get my IRA? My spouse? My kids? But I don’t want to leave out the grandkids.
Oh, I’ll just fill it in later.”
You’d
be surprised how often that mental conversation goes on when someone is looking
at the beneficiary section of their IRA application. And for most,...
When the Social Security and Medicare Trustees’ Report was released a few weeks ago, the news that the Medicare Part A hospital insurance trust fund is expected to go broke in 2026 obscured other important information in the report.
In particular, the report contained preliminary numbers for an increase in...
It’s
shocking to say, but a large percentage of future retirees are woefully
misinformed about Social Security—how they claim benefits, when they claim
benefits, and how much they’ll receive—just to name a few Social Security
topics. Financial author Mary Beth Franklin just reviewed the
latest annual survey of people retired and those who will...
To claim, or not to claim! Okay, that’s
a cheesy way to begin, but it points out a dilemma experienced by many older
folks when they’re trying to decide the most beneficial time to claim their
Social Security benefits. The fact is, Americans, collectively, lose trillions
of dollars by taking Social Security at...
Nobody has a crystal ball, but it’s certain that the American landscape is changing and the change is driven by the Millennial generation. Millennials are changing attitudes, workplaces, work ethics, what’s acceptable and what’s not. They’re driven more by technology than relationship. They see things from a different perspective...
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...
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...