10 Social Security Mistakes That Can Devastate Retirement Income

By |2021-03-23T11:47:15-04:00March 23rd, 2021|Financial Planning, Retirement|

Social Security, even with all its problems, is unquestionably an important component of retirement income for millions of American retirees. For about half of seniors, Social Security is 50% of their income, and 1 in 4 seniors say it makes up at least 90% of their income. There are more parts to Social Security than most people realize. Only in [...]

6 Tax Breaks Retirees Often Don’t Think About

By |2021-03-15T12:27:04-04:00March 15th, 2021|Financial Planning, Retirement|

Let’s update some two-thousand-year-old tax advice—Give to Caesar what belongs to Caesar, but don’t give him more than that. Today, tax deductions and credits help determine how much Caesar gets. As an old guy told me a long time ago, “If it’s in the IRS code, it’s there to be used.” Unfortunately, there are tax breaks available to retirees that [...]

4 Social Security Planning Steps BEFORE You’re Ready to Retire

By |2021-03-09T15:14:02-05:00March 9th, 2021|Financial Planning, Retirement|

Social Security is an important part of almost every retirement plan, whether you’ve saved enough or not. That’s why it’s important to know as much about your Social Security situation as possible. And you don’t want to wait until you’re about to retire to gather the facts and take appropriate steps. Social Security planning needs to start 5 years before [...]

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 [...]

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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