Financial Planning

States with the Biggest and Smallest Retirement Tax Bite

By |2021-03-01T09:46:41-05:00March 1st, 2021|Financial Planning, Retirement|

Remember that sage financial warning, “It’s not how much you make. It’s how much you keep.” Truer words were never spoken when it comes to retirement income. And taxes, federal and state, are one of the biggest determinants in just how much retirees have to live on. Here are some taxes you’re likely to see in retirement, who’s doing the [...]

Medical Expense Deduction Tax Relief

By |2021-02-19T12:55:50-05:00February 19th, 2021|Financial Planning|

It’s only taken Congress 34 years, but the threshold for claiming a medical expense deduction has finally been made permanent. For 2021 and forevermore, medical expenses above 7.5% of Adjusted Gross Income (AGI) is the law of the land if you itemize on your federal tax return and your total itemized deductions are greater than the standard deduction. For the [...]

Retirement Exit Strategy Checklist

By |2021-02-10T09:13:53-05:00February 10th, 2021|Financial Planning, Retirement|

Retirement. It’s a magic word and it’s supposed to be a magic time in your life. You’ve planned for it, worked for it, anticipated it, and expected a great life that comes after it. Today, people are retiring at a rate 27% higher than 10 years ago. Much of the increase is because of unplanned, early retirement due to declining [...]

Cutting Healthcare Costs in Retirement

By |2021-02-01T09:21:57-05:00February 1st, 2021|Financial Planning, Retirement|

Planning for retirement. There’s a lot of work that goes into it. You want to make sure you’ve saved enough, got things paid off if possible. You certainly want to know what your expenses will be so your retirement budget doesn’t blow up. One of the line items with the biggest possibility of throwing your budget into turmoil, and one [...]

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