Less is more: Use a minimalist approach for 401(k) investing
Investors have an average of 25 funds to choose from in their 401(k) plans, but some financial advisors suggest that the best approach is to pick a small number of very broad funds.
Retirement scan
IRS to retirees: Check your pension and Social Security withholdings ASAP!
Other groups, such as those who used to itemize tax deductions but will now use the high standard deduction, are also advised to check their withholding taxes.
The rich person Roth: For the most tax-free retirement income
High-net-worth clients can bump into income limits when it comes to making Roth IRA contributions, but they can find other tax-saving strategies to save for retirement.
Universal life insurance, a 1980s sensation, has backfired
Many older Americans are now facing hefty life insurance premiums due to dwindling interest rates. Many seniors are sitting on a "ticking time bomb."
The pros and cons of a reverse mortgage
These loans can be a good option in some cases, but they're not a cheap way to borrow money so senior citizens with good credit may have cheaper alternatives.
Boosting widows’ benefits could reduce poverty in retirement: Report
Boosting the widow's benefit, while limiting the size of the increase for higher earners, could be a “well-targeted way to help reduce poverty for this vulnerable group.”
Here’s some potential good news about required minimum distributions
The Trump administration is considering pushing back the age at which retirees have to take required minimum distributions from tax-deferred retirement account.
There are thousands of ways to claim Social Security — here are three
Waiting until your 70th birthday is the much-discussed strategy to maximize benefits. But in some circumstances, you won't miss out if you file earlier.
Are you a gambler, speculator, investor or risk manager?
Clients approaching or already in retirement should be a risk manager who focuses on risk tolerance.
401(k) investors: As markets and economy surge, some experts fear a downfall
Tax cuts and other policies have stirred a stronger economy, but these results could mean vulnerable financial markets in the foreseeable future.
How to tap retirement savings without getting hit with a penalty
IRS rules allow clients in certain circumstances to tap their retirement accounts before the age of 59 1/2 without a 10% penalty. But this still should be considered a last resort, an expert says.
The 4% retirement rule is just a starting point
The guideline used a specific set of assumptions: a retirement lasting 30 years with savings in a tax-deferred account and nothing left for heirs. Change just one and your “safe” withdrawal rate may differ.
Retiree tax tip: Tally taxes on Social Security
Retirees will owe taxes for up to 85% of their Social Security benefits if their adjusted gross income plus nontaxable interest exceed a certain threshold.
Why employees who claim Social Security early often live to regret it
A study notes that retirees might be experiencing the “Homer Simpson” mindset, in which they choose immediate gratification without thinking about the long-term consequences.
4 out of 5 workers are making this costly retirement mistake
Among current retirees, the numbers aren't much better: 60% of them have not calculated how much health care costs impact their savings.
Washington wants to help workers save more in their 401(k)
Lawmakers are looking to pass the Retirement Enhancement and Savings Act of 2018, which will allow workers to save more while encouraging employers to offer more retirement savings options.
Financial factors to consider when choosing a retirement location
Cost of living is a key consideration, but a retiree’s goals and objectives are also important.
Myth: Life insurance is not taxable
While proceeds from life insurance are not subject to income tax, there are other taxes that will apply. But there are steps to take to avoid those liabilities too.
This tax break could save thousands of dollars a year if you own a home
These property tax deferral programs are available to older homeowners who want to postpone real estate taxes provided they remain living in their home.
How to plan (or not) for Social Security in retirement
Most people, particularly younger clients, worry that they will not be able to get their Social Security benefits by the time they retire.
