Retirement

There are significant tax-reduction opportunities available when employer stock is held in a 401(k) plan. The opportunities are more significant now, as are the potential consequences of a suboptimal decision, because prices of many stocks increased significantly in recent years. Yet, many people diminish their benefits by rushing their decisions. The key tax break is
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If you asked 100 people what the purpose of financial planning is, the reflexive answer of the majority would likely be to have more money. And this underlying belief, spoken or not, is likely why financial planning so often results in under-implemented plans and satisfaction levels that score just marginally above “meh” on a scale
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For decades, the desperate need for government to help support middle-income frail older adults, younger people with disabilities, and their family members has been clear. Until now, lawmakers largely have done nothing about it. But that finally may be changing. Vice President Kamala Harris, the Democratic nominee for President, has proposed an ambitious expansion of
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Given recent trends in longevity, there’s a good chance you could be retired for 20 to 30 years, which might mean you’ll be retired for a third of your life—or more! You’ll want to plan ahead and take steps to help yourself be financially secure, healthy, and happy for the rest of your life. This
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They’re not right for every family, but there are times when a silent trust is a good idea. A silent trust is one that isn’t revealed to the beneficiary by either the trustee or trust grantor (or creator). The trustee manages the assets and usually doesn’t make distributions to the beneficiary. After a period of
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As you approach retirement, it’s important to develop a retirement income strategy. Developing tax-efficient retirement withdrawal strategies to plan your income stream should be an annual process. Each year your taxable income will change, and potentially your living expenses. The tax code has also changed repeatedly in the last 10 years, so it’s important to
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As the 2024 election approaches, candidate Vice President Harris and Former – President Trump promise to protect Social Security, but only Donald Trump has specific proposals. And Trump’s plan would cut Social Security benefits by 33 percent and drive Social Security to insolvency by 2031. The proposals would benefit high income individuals and drain $2.3
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Medicare’s open enrollment period started on October 15 and runs through December 7 this year. That means you can now comparison-shop your Medicare coverage, which can include Part D prescription drug plans, Medicare Advantage Plans, or Medicare Supplement Plans. For retirees participating in Medicare, it’s a good idea to revisit your Part D Prescription Drug
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There aren’t many absolutes in financial planning. There are, however, many—MANY—opinions. Advisors, personal finance gurus, and online opine-ers regularly die on the hills of passive vs. active investing, ETFs vs. mutual funds vs. individual stocks, traditional vs. alternative investing, good debt vs. bad debt, term vs. permanent life insurance, traditional vs. Roth IRAs, the roles
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