When you think about your future retirement, there are many things to consider. This article focuses on retirement tax strategy optimization, and why it's important to think about how your different sources of income, such as Social Security or a pension, retirement accounts, and other assets, will interact. During retirement, your tax bracket may [...]
Whether you're getting ready to retire or already enjoying it, one thing is true: You want to get the most out of your earnings and protect them from unnecessary fines. This may seem easier said than done, especially when mandatory minimum distribution (RMD) rules change from time to time and RMD and withdrawal strategies have [...]
How to know how much you can spend Self-control is a personal trait that can make a person an excellent saver, but paradoxically, it can put them in difficulty when it comes time to dip into those savings. Numerous studies, including ours*, show that wealthy retirement investors typically don't spend much of their retirement [...]
How to anticipate and prepare Have you considered expected healthcare costs in your retirement plan? According to a model we developed in partnership with Mercer Health & Benefits, average health care costs, even with Medicare, can exceed $5,000 per year. * Although costs vary from person to person, it is possible to estimate your [...]
What are Roth IRAs? Why should you consider it? At first glance : A Roth IRA is an individual retirement account that is funded with after-tax money. Roths offers tax-free growth and tax-free retirement withdrawals. However, Roths has many considerations and benefits, including eligibility. A Roth IRA can provide versatility and tax efficiency when [...]
What comes to mind when you hear the words "social security benefits"? Maybe you're curious about the future of Social Security or worried about its availability when you start claiming it. Some of my clients wonder why we bother to incorporate this into their financial plans. While there have been some disturbing headlines, I'm [...]
Before you retire, consider the risks you may face and how you can prepare for them. After decades of carefully balancing family, work, and physical and mental health, retirement should be a relaxing and well-deserved reward for a lifetime of hard work doing all the fun things you imagined. Here's how a Vanguard personal [...]
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