Ah, for the good old days when the retirement formula was simple. Get a job. Retire at 65. Go home and collect your pension. But those days are long gone. Pension benefits became too expensive for companies to maintain. They cancelled the plans, started matching contributions to 401(k)s and pushed the burden of retirement savings back on the worker. But [...]
<iframe width="560" height="315" src="https://www.youtube.com/embed/CDMTAG8nyFM" frameborder="0" allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen></iframe>
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 contribute more in payroll taxes toward [...]
Gray divorce. Silver Splitter. Diamond Divorcee. They’re all names indicating a growing divorce rate among older couples. While overall divorce rates in the U.S. remained stable between 1990 and 2010, gray divorce, or divorce among spouses age 50 and older, doubled during the same time period. According to a study from Bowling Green State University, 25% of people getting divorced [...]
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 don’t pay more taxes than you should and set you up [...]
It’s a name change, but a necessary one. What we’ve always called Retirement Planning is quickly becoming Longevity Planning as Americans live longer because of better lifestyles and improvements in medicine. My own family is a perfect example. My great-grandfather died when he was 65. My grandfather was 82 when he passed. And my dad lived to 90. Whether you [...]
Anyone 70 ½ years old or older with an IRA has discovered the pesky government requirement that forces you to take money out of your IRA whether you want to or not. The annual required minimum distribution is the government’s way of saying, “You haven’t paid taxes on your IRA and we’re going to make sure we get our cut [...]
Once upon a time, in the kingdom of Noplann, there lived a group of people who thought they would live forever. They raised families. They had careers. But when it came to thinking about their demise, they just stuck their heads in the sand. To them, planning for their departure meant admitting they would one day leave this world, an [...]
Stay In Touch