Retirement withdrawals

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.

Those who can't downsize can still rent out a portion of their property to help cover expenses.

“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.

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.

A portion of retirees’ Social Security benefits may be taxed at the federal level if their combined income exceeds a certain limit.

One may have lots of disposable income, while the other may have to rely on taxable distributions.

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.

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.

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.

To avoid a hefty tax bill when taking withdrawals from retirement accounts, clients should consider holding their assets in three "tax buckets.”