Once you’ve concluded your working years and are ready to retire, you must still deal with income taxes. Depending upon how you structured your retirement plans, some of your income might not be taxed. But surprisingly, Social Security benefits can be taxed, depending upon your income. That rule is true for both federal and state [...]
You saved faithfully for years, evaluated your prospective retirement income, and have set a date to finally retire… But now, in light of a rocky stock market and financial uncertainty looming, you might be reconsidering your plans. Don’t panic and make big decisions. We’ve seen stock market slumps before, and we’ve learned from experience that [...]
As you look toward your target retirement date, you will continue to evaluate your expected budget and then compare those figures to your estimated retirement income. Lately we’ve all confronted a new reality with the coronavirus outbreak, and many of you might be rethinking your retirement plans in light of stock market changes, the cost [...]
When it comes to retirement planning, a 401(k) provides an excellent opportunity to prepare for the future while also enjoying certain tax perks now. However, like any investment product, a 401(k) should be used wisely in order to gain the most benefit from it. As you continue to save and plan for the future, watch [...]
For Mark Roberts' Use: Retirement planning can be a complicated topic, and accurately predicting the future is not always possible. But when it comes to Social Security, it pays (literally) to weigh your options, time your claim accordingly, and consider certain other factors before claiming your benefits. Those “certain other factors” are often misunderstood. As [...]
For Mark Roberts' Use: With the death toll from the coronavirus outbreak now reaching nearly 3,000, public health officials are releasing a variety of warnings to help us prepare for the potential impact. But aside from washing your hands and eating a healthy diet to avoid infection, you might also be wondering about the financial [...]
As you plan for retirement, you might wonder, “Will I be able to live on my expected retirement income?” It’s a common question, and you’re right to consider it. None of us know exactly how long our retirement years will last, what unexpected expenses might pop up, and how inflation will fluctuate to impact our [...]
For Mark Roberts' Use: Social Security will provide an important part of retirement plans for just about everyone, and yet a recent poll uncovered a shocking truth. Among those age 50 and older, a surprising 91 percent did not know how the amount of a person’s Social Security benefit is determined! Social Security is a [...]
For Mark Roberts' Use: In response to concerns about the state of retirement planning in the US, President Trump signed the SECURE Act last month. The Setting Every Community Up for Retirement Enhancement Act aims to address the fact that one-quarter of Americans have no retirement savings whatsoever. Meanwhile, those who are saving for retirement [...]
For Mark Roberts' Use: Retirement planning advice abounds on the internet (and in personal talks with family and friends). Obviously, we caution you to consult with us first, before making any big decisions, so that we can help you separate fact from fiction. But two old pieces of advice circulate regularly, that are certainly worthwhile: [...]