The next bear market will spark a retirement crisis
While many retirees have prepped well for whatever the economy and markets may bring, far too many others have not, an expert says.
Retirement withdrawals
Benefits Think Looking at an expanding landscape: Multiemployer plan withdrawal liability
A recent case illustrates that a buyer might be determined to be a successor employer even if the buyer does not have actual notice of the withdrawal liability.
Arthur T. Phillips
Foley & Lardner LLP
Retirees reluctant to spend their savings
Retirees have median savings of $839,000, but many of them are unwilling to spend away their nest egg.
3 simple steps to help protect your client’s legacy
Clients are advised to keep track of their financial information and have a trusted person who knows where to locate it.
Rising interest rates give retirees good news and bad news
Rising interest rates can be a boon for seniors seeking better returns from low-risk investments, but can hamper other clients with adjustable-rate mortgages.
The smart retirement move 42% of Americans plan to make
Those who can't downsize can still rent out a portion of their property to help cover expenses.
Public pensions need to consider that beneficiaries are living longer
“Public pension plans continue to bury their heads in the sand living in a time warp of decades-old actuarial assumptions,” says a former Connecticut state treasurer.
How much tax should workers withhold from pensions?
Seniors receiving pension payments should ensure that their tax withholding is enough to cover the tax liability on the income and avoid trouble with the IRS.
Workers should be cautious of hidden taxes in retirement
A portion of retirees’ Social Security benefits may be taxed at the federal level if their combined income exceeds a certain limit.
Separate finances can be a lot trickier for couples in retirement
One may have lots of disposable income, while the other may have to rely on taxable distributions.
Should workers pay off student debt before saving for retirement?
We have multiple goals in life and should be able to handle short-term debts and long-term goals without sacrificing one for the other, says one expert.
Claiming Social Security early could lead to poverty later in life
About 4.3 million of the 18 million workers in the 55-64 age bracket are likely to live in poverty once they reach 65, according to a study.
Medicare Part D drug coverage gap closing at faster clip
The gap for brand-name prescription drugs for Medicare beneficiaries is likely to narrow down to 25% of drug costs from the scheduled 30% next year.
How to defuse your client’s tax time bomb
To avoid a hefty tax bill when taking withdrawals from retirement accounts, clients should consider holding their assets in three "tax buckets.”
Retirees: Stop paying attention to the markets
Short-term returns are mostly noise, which, by definition, largely cancels itself out over time
Retirees: Stop paying attention to the markets
Short-term returns are mostly noise, which, by definition, largely cancels itself out over time
Hundreds of companies now help employees pay student loans
Experts are expecting more companies to offer student loan assistance, but a lack of tax benefits could stall the growing popularity of this benefit.
When to step in and take over an older parent’s finances
Retirees should delegate the management of their finances to their children before they reach advance years and their health starts to decline.
Benefits Think Guiding employees before they take hardship distributions from 401(k) plans
New rules to employer retirement plans will impact how your workers face a financial crisis.
B. David Joffe
Bradley Arant Boult Cummings
How to protect a retirement plan in a down market
Elderly workers should make sure they have enough fixed-income in their retirement portfolios to spin off cash to cover the gap between income and expenses until the market recovers.
