getty If you have already “won” the game of financial life, stop playing and start planning Is the investment population at-large getting greedy? No, because that implies that they are in the process of becoming greedy. Greed and the stock market in 2021 are past-tense. In other words, it’s already greedy on a scale that
Retirement
Click here to read the previous part of this article. A review of the tax principles used herein is also in order. Investments are made in Jerry’s tax-deferred 401(k) plan. This means that taxes are not paid initially on the plan contributions, but any withdrawals from the plan will be subject to ordinary income tax
Couple at kitchen table with calculator and financial statements. Koldunov Are you thinking of retiring soon? If you are, it’s crucial to plan for this next phase. It may be tempting to say, “I’am sick of working for ‘the man.’ ” But before taking a big step, be sure you’re heading toward something you desire,
getty After reading this post, you are likely to think—that is so obvious. How could I and my estate attorney both have missed this? Don’t feel bad. We have reviewed thousands of wills and trusts and in our experience hardly anyone gets this right. The mistake often costs families tens of thousands of dollars or more. I’m referring to
Getty getty Democrats took control in Washington and began laying out their agenda for the next four years. Many media outlets across the country may shift their economic outlook as a result. The press organizations that were negative on the markets, foreign policy, defense, and healthcare, over the last four years may now turn positive
Economic Security Planning, Inc. Today’s column addresses questions about when continuing income after full retirement age (FRA) might increase Social Security retirement benefit rates, whether the earnings test affects eligibility for a survivor’s benefit and filing online. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security
Covid restrictions for those over 65 have remained in place for months in most places. Widowed aging parents may have no one to touch them, be with them, or pay much regular attention to them. Some seek company on the internet. Dating sites for those over 50 years of age are out there, and your
Recent surveys of retirees conducted by The Employee Benefits Research Institute (EBRI) confirms what I’ve learned from many years of working with older clients: Spending changes throughout retirement. In my experience, spending changes often lead to client requests for more or less retirement income, which is why I don’t subscribe to the idea that the
Women caught ‘in between’ are part of a larger, seemingly invisible, even forgotten, cohort of women … [+] facing unprecedented uncertainty in retirement. getty Standing behind the register Jenny looks on with an amused expression as I fumble with a large box. Inside the box is my newfound treasure — a new coffeemaker marked down
By Joseph F. Coughlin, Next Avenue getty (Editor’s Note: This article is the 15th in a weekly joint series on Covid-19 and the Future of Aging from the Milken Institute Center for the Future of Aging and Next Avenue. The articles are Q and As with thought leaders in fields ranging from health care to
2020 was an eventful year when it came to IRA required minimum distributions (RMDs), especially for those who took their RMDs before the March 2020 suspension was enacted. Then came rollover relief. But what if early bird 2020 “RMD-ers” receive Form 1099-Rs reporting the RMD as taxable, even if rolled over? Unnerving Form 1099-R
Economic Security Planning, Inc. Today’s column addresses questions about when spousal benefits can be filed for, how deeming affect people born in 1954 and later, how foreign pensions can affect Social Security benefits and how the lower earning spouse can maximize their benefits. Larry Kotlikoff is a Professor of Economics at Boston University and the
Close up of a group of expat seniors having a celebratory toast getty If you have had thoughts recently about what it might be like to live in another country as you get older, you are not alone. I think more older (and younger!) adults than ever before are giving serious thought to living somewhere
By Richard Eisenberg, Next Avenue Managing Editor getty Before you close the book on your 2021 New Year’s resolutions, I’d like to share three that you might want to boost your investment income in retirement. They’re from the latest episode of the “Friends Talk Money” podcast I co-host with personal finance syndicated columnist Terry Savage
By Leslie Hunter-Gadsden, Next Avenue A phone call in the pandemic led to big things for filmmaker Roberto Mighty Roberto Mighty It is often said that timing is everything. Boston filmmaker and multimedia artist Roberto Mighty, 66, certainly found that out one day in March 2020 shortly before the coronavirus pandemic reached epic proportions in
How much will a Cash Balance Plan lower you taxes? Depend on how large a contribution you are able … [+] to make. getty The cash balance pension plan has been growing in popularity with the self-employed and small business owners who are looking to minimize their taxes. This valuable retirement plan also works well
Doing good for the world gives back to you. Getty The recent presidential inauguration ceremony was an inspiring yet sobering reminder of the challenges that collectively we face as Americans. But there’s a silver lining for many of us: Seniors and retirees possess life experience and expertise that our nation dearly needs to address these
Estate planning documents. getty An unimaginable number of people are still dying from Covid complications, while others are dealing with life-threatening illnesses such as cancer, heart attacks and strokes. When it is your spouse who is ill, the pain is intensified by the anticipated loss of your life partner. It is heartbreaking. Planning for the
getty Who would you rather show you how best to save and invest for retirement? An accomplished advertising copywriter? A radiant teacher? A celebrated movie director? If you answered “Yes!” to the above multiple-choice question you’re far more astute than you might give yourself credit for. This is about the above choice in terms of
US President Barack Obama, alongside Secretary of Education Arne Duncan (R) and High School Senior … [+] Amirah Delwin (L), speaks with graduating seniors and their parents during a roundtable discussion on the interest rates of federal subsidized student loans at Washington-Lee High School in Arlington, Virginia, May 4, 2012. Without Congressional intervention, student loan