For some people, planning for retirement can feel like trying to eat an elephant; but, it doesn’t have to be that way. Before making big decisions, it’s always important to get the ducks lined-up first.
RMD age hikes may not be the blessing you think. The question just might be who is more secure? Retirees or future government spending?
Retirement decisions can be momentous. Which year you would have remembered would depend on if you retired back then… and which year!
Congress labeled it the SECURE Act, because it’s a better sell to the public. But, what Uncle Sam really wanted to do was make their spending programs more secure – hence, securing reelection.
Tax traps are waiting. Did you it’s possible to be smack in the middle of the 22% tax bracket, yet taking an additional $1,000 in income could make that additional money taxable at 40%? It can happen to some taxpayers. In fact, there are other pitfalls many aren’t aware of, as well.
Retirement planning was much easier during working years than the challenge of managing after retirement. During the working years it’s relatively simple: just keep stashing money into your retirement plan and let the markets, over decades, do the rest!
Longevity risk is real. Accumulating assets for retirement was a lot easier than managing retirement income. Now you practically have to be an actuary to make sure your money doesn’t run out before you do!
Rollover advice isn’t always straightforward – it’s often conflicted. There are issues you should address before you act.
RMDs are back for 2021! Make sure you don’t get his with penalties.
Maybe you should think twice before buying a Medicare Advantage plan from a football player.
