In today’s World, an ever-increasing number of individuals are turning to Individual Retirement Accounts (IRAs) as a primary retirement savings vehicle. The main reason is the flexibility and tax advantages that IRAs offer. There are a lot of different factors to consider when it comes to saving for retirement, and it can be easy to …
Don’t Forget to Account for All RMDs (Required Minimum Distributions) Read More »
The COLA is a Cost-of-Living Adjustment for Social Security beneficiaries. It’s also known as the raise, which helps offset rising living costs so that beneficiaries don’t experience a decline in their standard of living. Seniors spend more on utilities, housing, and healthcare than younger people. In some places, the increase in prices of goods and …
What To Expect in 2023 for the Cost-of-Living Adjustment Read More »
I bonds are a form of U.S. savings bond meant to protect the value of an investor’s money from inflation. The U.S. Treasury issued them to safeguard your money from losing value. The interest rates for I bonds are regularly adjusted to caution investors from the ever-rising price of commodities. Additionally, series I bonds are …
A Revocable Living Trust is a document that specifies how you want your property to be distributed after your death. It’s also referred to as an “inter vivos” trust because it’s created while you’re still alive and living, so it can be changed anytime during your lifetime. Revocable Living Trusts are well suited to many …
Longevity and the Retiree According to The Centers for Disease Control and Prevention, almost 75,000 Americans are centenarians, that is, they are more than 100 years old, and this aging demographic is having a dramatic impact on the labor pattern in the U.S. Rather than retiring at the traditional age of 65, more than 30 …
Life insurance myths are some of the most persistent misleading misinformation affecting people planning retirement. These analytics are commonly severely lacking in adequate research to back up popular perceptions. Consequentially, a few have fallen into avoidable financial traps. Insurance has the potential to be the strongest plan with the right guidance. Benefits of utilizing life …
Top 7 Life Insurance Myths Surrounding Retirement Planning Read More »
Retirement income is a topic that must be carefully discussed with your financial advisor to determine the best possible route for you. There are many sources of retirement income, and some work better for you than others. Having different sources of income for your retirement will mean you won’t be as dependent upon any single …
Are There Different Sources of Income for my Retirement? Read More »
As people get older, they often begin to think more about retirement. For many, this is a time to relax and enjoy the fruits of their labor finally. However, retirees must be mindful of their finances, especially during inflation. With the cost of living increasing, it cannot be easy to maintain the same standard of …
For a happy retirement, you need to have an income that will sustain the lifestyle you want. If you’re getting a pension from work or someone else’s work like your spouse, then congratulations – you’re all set! But if not, it can be challenging for people to imagine how they will afford their old age …
Home equity has been one of the best investments for retirees, generating income through tax-free capital gains that can be accessed through a reverse mortgage. But many retirees have no debt and are self-sufficient on a small monthly budget from investment income or pensions. They might better pay off their mortgage at retirement to avoid …
