News & Updates
TOD or POD
In the context of bank accounts and who their beneficiaries are, TOD means transfer-on-death, and POD means payable-on-death. These types of designations can play an important role in your estate planning by enabling banks to
Before You Click
Some scams are run on a daily basis, and are so intricately made, they can trick even the smartest of us. The scams we’re talking about come in the form of emails where the sender
Retirement Paycheck
Retirement is different from your working years–you’re no longer putting in time and collecting a paycheck regularly. Creating a sustainable paycheck in retirement is, however, an art worth mastering. Without a full-time employer, retirees are
Social Security and Working In Retirement
Have you ever wondered if working in retirement reduces your Social Security benefits? If you are younger than your full retirement age for the entire year, your benefit will reduce by $1 for every $2
Tying to Knot
According to the US Census Bureau, about 1 in 5 people over the age of 60 have married at least twice. However, all marriages are not created equal. The Schwab Center for Financial Research lets
Back to Basics
An annuity is a financial product designed to provide a regular, guaranteed income stream (backed by the claims-paying ability of the carrier) over a specified period or for the rest of a person’s life. Essentially,
Limits on Deductibility
We’ve spoken in the past about annual contribution limits into qualified accounts, but have not focused on the nuances of the income limits for tax deductibility of those contributions. It’s very important to speak with
Pay Attention!
We’re inundated with so many changes to rules related to retirement, that we oftentimes tell ourselves we can just ignore them and “focus on them later.” However, there are some changes you might want to
Financial Stability
According to many experts, knowing your cash flow is the most important piece of information you will need in order to tell if you are not only living within your means, but if you have
Wait a Minute!
Wait a minute! Is it 62, 65, 70 or 73? Let’s start to unravel this question. Social Security can be taken at any time between the age 62 and age 70. At the younger age,
So, Did You Decide?
Continuing on from last week, did you decide what kind of retiree you are? Regardless of whether you think of yourself as the Dynamo, the Philanthropist, the Homebody, or the Adventurer, it is recommended that
What Kind of Retiree Are You?
“What kind of retiree are you?” An interesting concept that we had some fun diving into, and wanted to share it with you. Are you “The Adventurer”? Do you want to stay active, are you
How Do You Do It?
How should couples save for retirement if only one is working? Saving for two when one is the primary or sole breadwinner can be challenging. It takes proper strategizing that goes beyond just watching your
Knowing
Sometimes there is value in knowing. Social Security was never meant to cover all your expenses in retirement, and, unless you work in the public sector, pensions are rare. Knowing there’s another payment coming in
A Bridge
We’ve spoken in the past about the financial benefits of delaying the claiming of Social Security benefits. However, what happens if retirees decide to leave their jobs before reaching age 70 and need to “bridge
Full Retirement Age
You’re eligible for the unreduced Social Security benefit (referred to as your Primary Insurance Amount) once you reach your full retirement age. If you were born in 1960 or later, your full retirement age is
Retirement Spending
Many people nearing retirement make the mistake of just “guessing” their retirement income needs rather than actually calculating what they’ll need to support their retirement spending. This is because many people don’t put enough thought
Best Places to Retire in 2024
We read an article recently examining more than 800 locations in America, comparing everything from housing costs to taxes to health care, air quality, and natural hazard risk. What they found were some of the
