Tax strategies

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.

Many older Americans are now facing hefty life insurance premiums due to dwindling interest rates. Many seniors are sitting on a "ticking time bomb."

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.

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.

Clients approaching or already in retirement should be a risk manager who focuses on risk tolerance.

Even though the program was created by a large multinational corporation, companies of all sizes could utilize this approach.

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 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.

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.

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.