Retirement

Introduction Senator Wyden has proposed new taxes to tap the very rich. One goal is to stop a common tax plan (some call it a “game”) the wealthy can play. They buy assets that grow in value. Rather than selling them which would trigger a gain and tax on that gain (which ordinary folks like

You aren’t alone if you are missing some retirement account assets. Sadly, many have forgotten old 401(k)s or other retirement plan assets. According to Capitalize, a company specializing in 401(k) rollovers, a shocking 20% of all 401(k) assets in the US were in forgotten accounts at the end of 2021. The days of working for

A New Year’s resolution is a promise to yourself to do something good in the year ahead. If you are over 65 and retiring or losing your job in the near future, here is one resolution you must make. Resolve to enroll in Medicare Part B, medical insurance. I sense there are some skeptics out

Fund retirement accounts. Give to charity. Harvest losses. Get energy efficient. Here are some strategies to shrink your taxes for 2023–and beyond. By Kelly Phillips Erb, Forbes Staff With only a couple of weeks until the end of the tax year, your options for making a big dent in your 2023 tax bill are limited.

Let’s say you just had your 50th birthday party. Can you still retire a millionaire? Retiring a millionaire is quite simple, but it’s not easy. Otherwise, we’d see millions more people reaching financial freedom. Here is the basic math to achieve millionaire status – to help you see what you need to do daily, monthly,

Defined benefit (DB) pensions are having a moment. Following IBM’s IBM recent announcement that the company will resume offering a pension plan to its employees, there is much speculation that other companies will follow suit. On the public sector side, the town council in Trumbull, Connecticut, earlier this month unanimously voted to resume offering pensions

The retirement planning industry is going through a quiet revolution that could be easy for you to miss. After all, a quick scan of today’s headlines paints a grim picture for America’s retirees—bear markets, rising inflation, lack of savings, a looming recession. Well, I’m feeling a little uncomfortable now, are you? It’s true that conditions

For most people thinking about retirement, either at home or overseas, budget is a key factor. In my more than 30 years of traversing the globe scouting out retirement havens I’ve found hundreds of places that are friendly on the pocketbook but don’t tick all the other boxes on my checklist… factors like safety, quality

Share to Facebook Share to Twitter Share to Linkedin As we move into 2024, it is clear that the market and the world in general is changing quickly. The ability to adapt and to change with the times is a necessity. How does that happen in the investing world? Doing very careful research into stocks,

For most people thinking about retirement, either at home or overseas, budget is a key factor. In my more than 30 years of traversing the globe scouting out retirement havens I’ve found hundreds of places that are friendly on the pocketbook but don’t tick all the other boxes on my checklist… factors like safety, quality

It’s that time of year when online shopping increases as families buy their holiday gifts online. Shipping of items ordered usually goes smoothly but sometimes glitches happen. That’s exactly what scammers know and try to use to their advantage. Some of our aging parents may not be on the lookout for fake messages sent to

There is a seemingly endless debate about whether Americans have sufficient savings for retirement (see here and here). The answer is that many do. But tens of millions do not. Overall retirement assets have grown enormously in recent years— to $36 trillion, despite a terrible stock market in 2022. But looking at total retirement plan

Many workers reach middle age feeling burned out by the daily grind, and they fantasize about chucking it all and retiring at an early age. The trouble is, for most people, it’s a significant challenge to develop sufficient financial resources to support themselves for decades without any income from working. Let’s see how you can

With affluent Baby Boomers sitting on loads of cash, intrafamily loans can be a win-win, so long as you pay attention to the tax rules and the paperwork. By Kelly Phillips Erb, Forbes Staff Ever since the Federal Reserve started fighting inflation by driving up interest rates, banks’ prime rate, on which so much adjustable

The earliest most people can apply for Social Security benefits is 62. You can apply for survivor benefits at age 60 and not married. Whenever you apply for Social Security benefits before your full retirement age, those benefits are always reduced. If your full retirement age is 67, the list below shows what percent of

Recent articles have noted the excellent economic statistics we are seeing today, many of which are the best in a generation. The labor market is flourishing, and not just for rich folks for once. The unemployment rate is at its lowest level in 60 years—jobs are more plentiful than they have been in a generation.

Many workers daydream about retiring early, focusing on the joys of not working and having more time to pursue their interests. However, you’ll need to do some homework to turn your fantasies into reality. Let’s dig deeper and look at five steps you should take with your finances to support a retirement at age 50.

This is a real case and the facts are as reported to us by Wanda (real names changed, of course), the wife of an elder. Wanda is 82 and her husband, Kurt is 81. They have amassed significant wealth, though Kurt was always in charge of managing it. But a few years ago, Kurt got

A Health Savings Account, often called an HSA, allows you to pay for some medical expenses with tax-free money. As you can imagine, there are limits to how much you can contribute each year and how to spend the money saved in your HSA. There is good news if you are eligible for an HSA.

If you think of your 401(k) plan in the context of how to leverage your retirement savings, think about 401(k) matching. Leverage makes your job as an investor ever so much easier, and what can be better than a company match? Common Matches The most frequent matching formula for Vanguard 401(k) plans that have matching