- How to Navigate a Divorce After You Retire
Retirement is a major milestone that most couples look forward to. But some couples find the transition to retirement negatively impacts their marriage, sometimes resulting in irreconcilable differences and divorce. Rates of late-in-life divorce, also called “gray” divorce, have risen… read more…
- 7 Ways to Reduce Tax Liability in Retirement
If you’re approaching retirement age, you have a lot to think about. Focusing on limiting your tax liability can be especially valuable. After all, the more taxes you pay in retirement, the less money you’ll have to live off. If… read more…
- Debt Limit Ceiling Crisis Could Hit Your 401(k), Social Security and Medicare
America’s debt ceiling was reached — again — on January 19, 2023 as the country exceeded its $31.4 trillion spending cap. The cap was raised to that amount in December 2021. As much terms like “ceiling” and “cap” are used… read more…
- Retirement Catch-Up Contributions Get Bigger But Beware These Tax Changes
The benefits of aging include senior discounts, wisdom gained from experience and – when it comes to retirement saving – catch-up contributions. Anyone 50 and older have the option to contribute extra cash to a wide variety of retirement accounts. And… read more…
- You Can Now Delay RMDs But Think Twice Before You Do
Conventional logic says you should delay withdrawals from your tax-deferred retirement accounts as long as possible to maximize the tax-free compounding that can increase the size of your overall nest egg. But the IRS won’t wait forever to get its… read more…
- Should You Use Retirement Savings to Pay Off Debt?
Many experts advise you not to touch retirement accounts until your golden years, but some high-interest debts can present a more pressing issue. Debt can cause your financial circumstances to deteriorate at an alarming rate, and resolving the issue can… read more…
- How to Use a Roth IRA as an Emergency Fund
Building an emergency fund is essential so you don’t run into financial trouble if you lose your job or unexpected expense crops up. But keeping your emergency fund in a traditional savings account may not be the best solution. To… read more…
- How to Transfer a 401(k) to a New Employer
If you have been hired for a new job, you may have left your 401(k) behind and would like to bring it to your new place of employment. You can certainly do that, and the process isn’t difficult. But there… read more…
- What Is a 401(k) Deferral Contribution?
A 401(k) deferral contribution is the amount of an employee’s salary that they elect to put in an employer-sponsored retirement savings plan. The portion of the salary that is deferred is not subject to income taxes for the current year.… read more…
- Types of Individual Retirement Accounts (IRAs)
An individual retirement account (IRA) gives you a tax-advantaged way to save for retirement. Several different types of IRAs accounts exist. Most let savers deduct contributions from their current taxable income and also delay taxing earnings until withdraw money later… read more…
- Don’t Do This When You Leave a Job
Around 21% of Americans who quit their jobs either cash out their 401(k) or leave it to be transferred into cash by the employer. Both result in billions of dollars in lost retirement savings. Cashing out was a problem before… read more…
- Annuitization vs. Lifetime Withdrawals for Annuities
Purchasing an annuity can provide you with an additional stream of income for retirement. One thing you’ll have to decide is to annuitize payments or opt for lifetime withdrawals. Whether it makes sense to opt for annuitization vs. withdrawal can… read more…
- How Much Do You Need to Retire at 55?
If you’re thinking of retiring early, you may be wondering how much you need to retire at age 55. The exact amount of income you should have put away is going to depend on different factors. But if you want… read more…
- What Is a Non-Qualified Annuity and How Are They Taxed?
Non-qualified annuities have some unusual tax advantages. With these contracts, you invest money using after-tax dollars. The money in the annuity then grows tax-free or technically tax-deferred, until the contract matures. At that point, called the “annuitization,” you begin receiving… read more…
- Roth 401(k) Contribution Limits for 2026
Saving for retirement is a top financial priority for many. If you’re one of those who has prioritized retirement by opening a Roth 401(k), it’s crucial to use the account optimally to build tax-free retirement income. The IRS has raised… read more…
- Roth 403b vs. Roth IRA: Key differences
When Roth IRAs were introduced in 1998, they provided the opportunity to create tax-free income in retirement. A few years later, Roth 401(k) and Roth 403(b) accounts were created to allow company retirement accounts to provide tax-free income. When you’re… read more…
- How Much Money Do You Need to Retire?
While there may not be a more common or consequential financial question then “how much money do I need to retire?,” there isn’t a one-size-fits-all answer. One person’s retirement income needs will be different from the next, depending on their… read more…
- How Sequence of Returns Risk Affects Retirement
Investing for retirement means factoring in different types of risk that may affect your portfolio over time. The sequence of returns risk also referred to as sequence risk, can come into play as you begin taking withdrawals from your retirement… read more…
- How to Retire in Sweden: Costs, Visas and More
Sweden is one of the most sought-after countries in the world. It offers an excellent quality of life for retirees with beautiful landscapes and historic, walkable cities to enjoy. The archipelagoes on both the nation’s East Coast and West Coast,… read more…
- Some Workers Can Supersize Their Tax-Deferred Retirement Savings In 2023
The IRS has issued the 2023 retirement contribution limits and the differences between what salaried workers can sock away and how much self-employed workers can save are striking. We’ll discuss how some workers can supersize their tax-deferred retirement savings in… read more…
- Is Early Retirement Detrimental to Your Health?
After years of scrimping and saving, investing wisely and working diligently your reward could be the luxury of an early retirement – and a big drop in your IQ. New research conducted by faculty at Binghamton University, State University of New… read more…
- Why Are Retirees Feeling Pinched? Social Security Fell This Much Short Last Year
If America is seeing a significant uptick in the number of grumpy old men – and women – one reason might well be the big shortfall during 2022 between inflation and their Social Security payments. According to the nonpartisan Senior… read more…
- What Is the Retirement Bucket Strategy?
The main goal of most investors is to garner enough money in the market to fund their retirement years. Yet, many investors are unsure of how to properly pull money out of their accounts once they’re actually in retirement. The… read more…
- Working in Retirement: Why and How You Might Choose to Stay Busy
Are you retired but interested in going back to work? Unless you’ve developed some hobbies or have significant interests outside your career, retirement can be a lonely place. Suddenly, many of your social contacts are gone. Mental and intellectual pursuits… read more…
- What Is In-Service Withdrawal for 401(k) Plans?
You might be able to transfer a portion of your 401(k) to an individual retirement account (IRA) while still employed. This is known as an in-service withdrawal. While in-service withdrawals can be a good option, that isn’t always the case. Here… read more…