Retirement

The IRA is a great retirement savings vehicle; money grows on a tax-deferred basis and that’s a good thing. Eventually, though, you have to pay the IRS piper when you choose to withdraw funds for retirement or when you’re forced to withdraw the Required Minimum Distribution at age 72. Let’s be clear. You can take money from your IRA anytime [...]

If you turn 60 years old in 2020, your Social Security benefit may get hit with a double-whammy. People turning 60 this year are at the tail end of the Baby Boom generation, and the first Americans ever required to wait until age 67 to receive full Social Security benefits. Older Boomers have been able to claim full benefits at [...]

The most frequently asked Social Security question I get is, “When should I claim my Social Security benefits?” Well, that’s a loaded question, because there are so many moving parts and everyone’s situation is different.  So, here are some considerations when you’re trying to figure out when is the right time for you to start Social Security.   Age and [...]

Retirement is the time you want things to run smoothly. After all, you’ve spent a lifetime preparing for retirement—saving money, paying things off, having plenty of retirement income. The last thing you want is a notice from the IRS informing you that you’re going to be audited. The chances of an audit are extremely low. In 2019, the IRS audited [...]

Since the beginning of Social Security in 1935, a monthly Social Security check has become an expected part of retirement income for most Americans. And why not? Money has come out of your check every time you got paid and, supposedly, gone into the Social Security Trust Fund to ensure that you have money coming in for as long as [...]

What is retirement, really? We think we know. So, we do our best to prepare for both current circumstances and as many surprises as we can conjure up.  After all, with people living longer than ever before your money has to last longer than ever before. Certified Financial Planner Troy Sharpe, the founder and CEO of Oak Harvest Financial Group, [...]

As a long-forgotten TV detective used to say, “Just the facts Ma’am, just the facts.” In any discussion about Roth IRAs, there can be lots of what for’s and how come’s and what if’s. But here, we’re going to look at basic Roth IRA facts to see if a Roth makes sense for you. The Roth IRA has been around [...]