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July 18, 2025I turn 59 in September 2025 and I plan to retire at 62 with no debt. I have $1.2 million in a traditional IRA and $200,000 in a workplace Roth 401(k). I have an emergency cash fund in a high-yield savings account. I earn $320,000 per year and annually contribute $30,000 to the Roth 401(k), plus… read more…

August 4, 2025Should I collect Social Security now ($2,621 per month) or later? I’m 62 and my wife is 60. I retired in 2015 and my wife will retire in February 2026. I’m collecting a pension of $5,125 per month. My wife earns $50,000 per year and will collect a $300 monthly pension when she retires in… read more…

May 27, 2025I inherited an IRA from my mother who was already taking RMDs when she passed away. Am I required to take RMDs from the inherited IRA, or does the IRA simply need to be depleted by 10 years from the date of inheritance? I don’t have any special needs or disabilities. Similarly, are RMDs required… read more…

May 19, 2025Written by Michael Collins, CFA® In today’s fast-paced world, getting the attention of potential clients isn’t easy, especially when connecting with someone over the phone. As you work to grow your client base, it’s not just about generating leads; it’s about making sure those leads actually respond and engage with you. Making monthly follow-ups with… read more…

May 19, 2025My wife and I own five senior homes in our self-directed IRAs. How do we transfer them to our two sons after we die? Under the new IRS rules it appears that the boys have only 10 years to take the money out. The houses are worth about $1.75 to $2 million in total now.… read more…

May 12, 2025I’m 57 and my wife is 48. Both of us work, but my wife makes much less money than I do (almost 1/3 of what I make). I am planning to retire at age 66 and start collecting Social Security benefits. It is my understanding that I will be eligible for full benefits ($3,653 per… read more…

April 28, 2025I am 60 years old and want to build a new house for $700,000. We have $1.5 million in 401(k) plans, including $500,000 in Roth funds, which I could withdraw to pay a big chunk of the house. We have a pension of $70,000 a year and Social Security of $44,000 per year. Also, the… read more…

April 21, 2025I’m getting $110,000 from a 401(k) through a divorce QDRO. Where should I put the money to avoid excess tax and IIRMA implications? I’m 70 and my only income comes from Social Security. – Ran You have a few options, but be mindful that the tax impact and IRMAA implications of each won’t necessarily be… read more…

April 7, 2025My total investment value is approximately $650,000, mostly in stocks. Should I keep a percentage of my portfolio in precious metals? – Rex Investing a portion of a portfolio in precious metals is a common practice. If you keep the allocation modest — around 5% — I think it’s okay to use precious metals for… read more…

March 31, 2025I am a healthy, active 69-year-old with $370,000 in equities but I’m getting nervous that stocks are overvalued. My portfolio has no bonds. I am interviewing financial planners but due to a negative experience with a firm a few years ago, I am having a hard time trusting anyone else with my hard-won savings. What… read more…

March 24, 2025I am 76 and I have been receiving my benefit since age 62—four years before my full retirement age (FRA). My wife is now 61 and will retire at age 65—two years before her FRA. She will begin drawing her teacher retirement from the State of Texas, which is no longer subject to the Government Pension… read more…

November 7, 2025I’m retired and receive a pension but I still need to supplement my monthly income. My choices are to claim Social Security or start withdrawing money from my 401(k). I’m 64 and have $200,000 in a 401(k). My Social Security estimates are around $2,600 a month. I need $3,500 a month to pay bills. Your… read more…

March 10, 2025I have about $500,000 in a 403(b) account. I am writing my will and I do not know whether the money in my 403(b) will be subject to taxes when it is distributed to those I list in my will. Or, will the money just pass directly to those whom I have named? – Bill Bill,… read more…

March 3, 2025I sold an investment property which made my income very high for that year. Medicare Part B premiums increased to $591.90 for both me and my wife. Is there any way to avoid that increase? Our Part D premiums increased as well. -Fred First off, congratulations on selling your investment property. Unfortunately, there likely isn’t… read more…

February 24, 2025I inherited a non-qualified annuity from my mom. I am on SSDI and I receive $1,800 per month. The annuity is worth $100,000. I am trying to decide whether to take monthly payments for the rest of my life, which should be about $450 a month, or take the lump sum (between $80,000 and $90,000… read more…

September 30, 2025My husband wants to retire in August 2025 when I turn 65. My husband turned 65 in December 2024. We have $1.1 million saved (includes stocks, ETFs and mutual funds) along with $1.6 million in a 401(k).  We will, at that time, start to collect Social Security. What would be a good rule of thumb for… read more…

February 10, 2025How much can I afford to pay for a home and still maintain a comfortable retirement without worrying about running out of money? I’m 66 and I have about $1.78 million in a taxable investment account, $1.5 million in IRAs, $309,000 in a Roth and $115,000 in a deferred compensation plan. I also have a… read more…

February 3, 2025What’s the best route for medical insurance without a work place option? I need two years of coverage before Medicare kicks in.  – Robert Health insurance and its associated costs are an important consideration in retirement – even more so if you retire before qualifying for Medicare at age 65. I don’t think there’s any… read more…

January 27, 2025Here is my question, which uses hypothetical values for simplicity: My RMD for 2024 is $10,000. Can I avoid paying the IRS the tax on that $10,000 this year by investing the full $10,000 RMD or the value of the tax on the $10,000 into a qualified longevity annuity contract (QLAC). I just retired in… read more…

September 25, 2025I encouraged my wife to take a $40,000 Roth conversion in a lower tax year. Even though she has another Roth IRA at a different broker, she was encouraged to keep the money where she already had her 401(k), which we converted to a IRA and then to a Roth IRA. She is well past… read more…

January 13, 2025Is there a downside to taking your pension on a monthly basis vs. taking a lump sum? The monthly payments would be higher than the return I would get on the lump sum. – Claudette There are certainly some downsides of taking monthly pension payments instead of a lump sum. But that doesn’t necessarily mean… read more…

January 6, 2025Does the interest, dividends and capital gains from assets owned in my taxable brokerage account count toward the Social Security earnings limit? Only wages from employment or self-employment count toward the exempt earnings limit for those who file for early Social Security. Investment income won’t result in benefit withholdings, but it can influence the taxation… read more…

December 30, 2024I have had a Roth IRA and a Traditional IRA for well over five years and want to start converting the traditional IRA to the Roth IRA. My belief is that I could start withdrawing the converted funds without any penalty, since the Roth has been open for over five years and I am over 59… read more…

December 23, 2024I have two inherited Roth accounts that total around $80,000, and an inherited IRA account with around $80,000 from my partner’s 401(k) account. My partner sadly passed away this year at age 45. I am 70 years old. What are my RMD requirements for this year and the next few years? – Jose First of all,… read more…

December 17, 2024I am a 66-year-old retired woman. I left my 401(k) with my old employer – roughly about $300,000 – but now I’m thinking about rolling it over and don’t know where to begin. Can you advise me? -Renee Rolling over a 401(k) after retirement is a decision many people face, and while the process isn’t… read more…