Individual retirement accounts (IRAs) are one of the most common forms of retirement accounts, and they are responsible for one-third of assets claimed by retirees. You can start to withdraw distributions that are penalty-free at age 59.5. Once you reach 70.5 years of age, RMDs must be withdrawn from your IRA by Dec. … [Read more...]

It's important when preparing for retirement to have a plan. Information is key to having a good retirement plan. You can want to vacation after retirement, but if you haven't planned for the travel expenses, you won't be prepared. Did you know that once you turn 65, you are entitled to a a larger tax deduction? Or … [Read more...]

Various financial vehicles and instruments have a broad and varying return. Some investors may be cautious because of the signs pointing to a recession. They may be wary of the danger of a 2008-like collapse, and cut their risk, or even settle for cash. However, there are multiple options available with a very high … [Read more...]

Though the premise has been around for decades, the FIRE, or Financial Independence, Retire Early, movement has gained traction with the Millennial generation. The idea is to live frugally, earn extra income through side hustles, and save a large percentage of that income to invest. One way to accelerate the path to … [Read more...]

With a mountain of college debt burdening graduates there are many families questioning the value of a college education. Is the investment worth it? Statistics say, yes. Despite the cost, college graduates still go on to earn 84% more over their working lifetime than high school graduates. With this statistic in mind, … [Read more...]

Christina and Amon Browning have two school aged children, hail from high cost of living, San Francisco, and thanks to the FIRE Movement have retired at age 40 in Portugal. The FIRE movement is about maximizing savings, earning extra income, and investing for passive income. This couple saved $2 million in 8 years … [Read more...]

Within this article, there are a total of five questions based upon a set of three facts. Age, marital status and the possibility of the retrieval of retirement benefits. However that is only part of the picture in question. The bigger picture in regards to the article is how soon can I receive the benefits and if they … [Read more...]

401(k) retirement plans come with considerable tax advantages in the present, but taxes have to be paid when the money is withdrawn. With a high national debt and aging baby boomers straining Social Security, it's not unlikely that US taxes may rise in the future. So what can you do? If you move retirement money from a … [Read more...]

Long-term-care insurance may be vital for your, but can be a difficult process, especially if you have to file a claim. Although, there are ways to avoid the hassle of filing a claim. One of those techniques is to review the policy with your adult children to ensure it meets all your needs. Next, you'll want get in … [Read more...]

As you plan for retirement, you may be asking yourself if it makes sense to relocate for tax purposes. While moving to a lower tax state can be financially beneficial, it's not as easy as it sounds. You have to figure in travel expenses, especially if you plan trips back to your hometown to visit grandchildren and … [Read more...]