Social Security decision-making isn’t as easy as it was for our parents and grandparents. When they became eligible, they simply went downtown (remember those places?) and simply filed.
Not so easy today. Social Security decision-making has become more complex and, unfortunately, because of that, there are few ‘simple’ answers.
When it comes to building a solid financial future, finding the right investment vehicle can be a daunting task. Comparisons are often made between an IUL (Indexed Universal Life Insurance) and a Roth IRA (Individual Retirement Account) as a choice between getting life insurance or investing in the stock market. While an IUL can give the appearance of doing both; however that’s not really the case – and, often, this can lead to unrealistic expectations.
Making your retirement nest-egg last through retirement isn’t easy. Company pension plans have all but disappeared, which means it’s now up to you to be your own actuary. Unfortunately, it’s not something many are equipped to do.
Social Security claiming decisions aren’t as simple as they may appear. The decisions you make for yourself can impact your spouse, your future taxes, and even the bite Medicare premiums take from your Social Security benefits.
The SECURE Act includes roughly 100 new rules for retirement affecting both individuals and businesses – all with tax implications and various effective dates. These are the most expansive changes to retirement rules in 40 years.
Too many seniors still take the Social Security claiming decision too lightly – it’s a mistake that can cost them tens, if not hundreds, of thousands of dollars of retirement income during their lifetimes. And, often, the decision is made based on false bias or assumptions rather than a solid planning strategy.
The SECURE Act 2.0 may do a lot to help secure Uncle Sam, but I’m not so sure about the rest of us.
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.
Retirement decisions can be momentous. Which year you would have remembered would depend on if you retired back then… and which year!
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!
You want to begin planning your future life, but aren’t sure how. You want help but don’t know how to get stareted. Sound familiar? It should.
There are a lot of myths surrounding Roth conversions and this one might rank near the top, and you should know why. It’s important to have some historical perspective.
