5 year-end strategies to cut tax bills now
The holidays are fast approaching, which means it is time to start doing some year-end tax planning.
Retirement scan
How millennials can maximize savings for retirement
Millennials are already behind in savings compared to where their parents stood at similar ages.
New tax bill would remove age limit on IRA contributions
Many of the bill’s provisions are taken from the Retirement Enhancement and Savings Act, which enjoyed some bipartisan support.
Smart financial strategies between retirement and turning 70
This period allows seniors to be more strategic about generating income from their portfolio and minimizing taxes.
How much should you rely on Social Security benefit estimates?
"Some analysts have argued for years that the SSA’s estimates systematically underestimate future benefits for most people," an expert says.
Social Security benefits going up — but not for everyone
Social Security benefits will increase 2.8% next year, but some retirees will not see a rise in their retirement paycheck because of Medicare's hold-harmless provision.
Tax surprises clients may face in retirement
Retirees could end up paying taxes on the majority of their Social Security benefits when certain conditions are met.
How seniors can avoid these common scams
Scammers can learn quite a bit of information from social media so don’t think that just because they know a couple pieces of information about you and your family that they are legit.
Another challenge in retirement? Student loans
The number of older Americans who are carrying student loan debt into retirement has grown to 2.8 million from 700,000 in 2005.
5 key retiree healthcare trends
Assisted-living expenses increased 7%, according to one study, which is triple the rate of inflation.
Labor Department clears path for automatic 401(k) transfers
The move is the latest effort to reduce the early flow of money out of 401(k)-style plans.
‘Golden decade’ is time for clients to get taxes under control
The years between 60 and 70 present a great opportunity for seniors to make moves to protect their retirement savings.
Rent or own in retirement — how to decide
Older couples should determine whether they are physically ready for the task, as moving can be stressful for people of advanced age.
10 places to retire on Social Security alone
A typical Social Security payment is likely to cover basic costs in these areas.
Estate planning answers for ‘hard’ assets like art, heirlooms
When leaving heirlooms and other illiquid assets to loved ones, seniors should allow the heirs to inherit the items instead of liquidating them
What should clients do amid market volatility — are they 27 or 63?
Clients should turn to their own timeline before making any changes to their portfolio during a market correction.
IRA or 401(k)? Where should your employee’s money go first?
Workers should consider contributing enough to their 401(k) plans to get their employer's match before making contributions to an IRA.
What to do when a client loses their retirement savings
Working longer and delaying Social Security are some of the ways they can recover.
Don’t let your clients get spooked by retirement spending
Advise them to review and adjust their budget and consider getting a side hustle, a study suggests.
Should your client downsize their home in retirement?
Moving could eliminate their mortgage, reduce housing expenses and lower cost of living.
