Retirement

By Richard Eisenberg, Next Avenue A great feature of traditional Individual Retirement Accounts (IRAs) and employer-sponsored retirement plans like 401(k)s is that their money can grow tax-deferred for years. But eventually, the tax piper must be paid. That’s when Required Minimum Distributions, or RMDs, kick in and federal — plus sometimes state — ordinary income

By Hanna Horvath, Next Avenue The end of the year is a great time to look back on what you’ve accomplished and set goals for the year to come. One area you should not overlook is your finances. In fact, reviewing your finances now and acting before the end of the year can empower you

Yes You Have to Update Your Planning Estate planning is about as much fun as getting a root canal. Unless there is a strong driver, like a pending change in taxes (there is with the exemption dropping in 2026) or asset protection need (can you ever know when someone might sue?) people tend to put

It’s not uncommon for CMOs to start thinking about retiring in their early 50’s. I have several acquaintances who have chosen to take the early retirement path (before age 65) and pursue new and different non-career related opportunities. I find it fascinating how CMOs are tackling these life changes (see here for one example). When

Beneficiaries of trusts sometimes need to realize how much control they actually have over a trust. That is because they are unaware of a power sometimes found in trusts that gives the beneficiary the ability to remove and replace a trustee. Trustees are the legal owners of the trust. As such, they control the management

If you’re already retired, you may think you’re finished with your retirement planning. Most likely, you’ve already made several critical decisions, such as when to retire, when to start Social Security benefits, how to deploy your retirement savings to generate cashflow to pay for your living expenses, and what your elections will be regarding health

Studies have shown that you’re much more likely to achieve the retirement you want by setting retirement goals and taking steps to achieve them. Without goals or plans, you’re apt to experience the retirement that shows up rather than the retirement you’ve hoped for and dreamed about. What Is A Retirement Goal? A retirement goal

Mother, age 85, liked freedom with her cash. She used her money without keeping track of her spending. She forgot to check her bank statements and didn’t notice that odd withdrawals had happened. Her short term memory was eroding. When she finally remembered to look, she was alarmed to see that unexplained withdrawals had happened

Despite the high levels of polarization plaguing American politics today, retirement policy has remained an area for bipartisan cooperation. Congress has passed two major pieces of retirement policy legislation in recent years, and red states, blue states, and purple states have established state-facilitated retirement savings programs to help working Americans save for their retirement. It

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