The “Money Talks,” hosts discuss a listener’s decision to begin withdrawing the funds he has saved and grown over the last 30 years. They cover which accounts to tap first, how to control his tax situation, and the importance of having a financial plan.
Many IRA and retirement plan limits are indexed for inflation each year. While some of the limits remain unchanged for 2021, other key numbers have increased.
Saving for retirement is not easy but using your retirement savings wisely can be just as challenging. How much of your savings can you withdraw each year? Withdraw too much and you run the risk of running out of money. Withdraw too little and you may miss out on a more comfortable retirement lifestyle. For…
Some folks have been tapping or suspending their retirement savings to make ends meet during this COVID-19 pandemic, and while understandable, it is important that they continue making contributions to their savings as quickly as financially possible.
Spousal IRAs allow a non-working or low-earning spouse to contribute to their own IRA, provided their spouse has adequate compensation.
Federal and state governments have spent extraordinary sums in response to the economic toll inflicted by the COVID-19 pandemic. At some point it is likely that governments will look for ways to increase revenue to compensate for this spending and increase income taxes as a result. That’s why it might be a good time to…
The “Money Talks” hosts discuss one of the tax proposals put forth by President-elect Biden and how it may affect retirement savings.
In early 2020, 61% of U.S. workers surveyed said that retirement planning makes them feel stressed.1 Investor confidence was continually tested as the year wore on, and it’s likely that this percentage rose — perhaps even substantially. If you find yourself among those feeling stressed heading into the new year, these tips may help you…
A high cost of living can become a bigger concern in retirement, when you may need to stretch a fixed income or depend solely on your savings for several decades.
Managing Associate K.C. Smith, CFP®, CEPA, evaluates some strategies IRA account owners can use to ensure they maximize the value of their retirement accounts that will eventually be inherited by their non-spouse heirs. This article is for demonstrative and academic purposes and is meant to provide valuable background information on particular investments, NOT a recommendation…
