Is an annuity a good deal?
Retirees who are considering investing in an immediate annuity can make sure they get a competitive quote by consulting the annuity payment calculator at immediateannuity.com, according to this article on CNN. They should also make sure to compare quotes for the same options, whether they are for “life only” plans, “life and 10 years certain” or others. For greater security, retirees should also stick to insurers that garner A+ or higher financial strength ratings and divide their annuity stash among two or more insurers. To reduce the risk of investing during periods when annuity payments are at a low point, clients are advised to invest in stages, for example: $50,000 once a year for three years.

6 hidden benefits of consulting in retirement
Consulting or other ways of working part time during early retirement could be beneficial to people for both financial and non-financial reasons, according to Kiplinger. Working would lead to extra income, tax deductions, better Social Security benefits, easier transition into full retirement and more. However, retirees may will also be faced with self-employment taxes and possible loss of freedom if they chose to work part time.

Rollovers keep IRAs relevant by preserving tax shelter
Clients who will take their money from a 401(k)-style plan into a rollover IRA should make sure to do the action within the 60-day window to avoid ordinary taxes and a 10% penalty if aged 59.5, according to Arizona Republic. Also, employers are required to withhold 20% of the amount so clients must come up with that 20% from another source so that the full amount of the rollover will stay tax-deferred.

Another money worry for your retirement: Kids
The amount of savings a parent and potential retiree has also depends on the number of children they support. Empty nesters who have had their kids leave home should re-assess the amounts of cash they are spending so as not to spend all of their hard-earned savings too fast, according to CBS Moneywatch. Parents could end up living with their kids in the future because of depleted savings, but not having a retirement plan could be the worst scenario for parents who have worked hard all their lives to remain financially independent.

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