Paola Peralta
ReporterPaola Peralta is a reporter with Financial Planning.
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For one, clients will owe taxes still on the distributions, unless they recontribute the money into the account within three years.April 8 -
Older clients are advised to take extra steps to protect their finances as the current crisis may leave them prone to making poor financial decisions.March 25
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Clients are advised to minimize spending and tap possible sources of cash and credit, including their tax refund.March 23
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Clients are advised to keep some of their savings in cash and focus on their long-term prospects.March 17
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“Find ways to generate income,” says one financial planner.March 11
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While some retirees have seen a substantial increase in spending, many others are enjoying financial freedom.March 10
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Aside from refinancing, retirees are advised to consider downsizing their homes to reduce overall spending.March 4
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To start, these clients are advised to start saving as early and contribute enough to their 401(k)s to qualify for their employer's matching contribution.March 3
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More than a quarter of women in a recent survey say they are confident they will comfortably retire, while almost a third of men voiced the same confidence.February 27
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Aside from income taxes, retirees will also pay consumer taxes and may face a 3.8% Medicare surtax.February 24
