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You’ve worked hard, saved diligently, and now you’re standing at one of retirement’s biggest crossroads: take the steady monthly pension or grab the lump sum and run? It’s a decision that could shape the rest of your financial life—and it’s not as simple as it seems. One offers security, the other flexibility. One feels safe,…
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Retirement is a major milestone, and with it comes a new financial landscape. For Sam (65) and Sarah (64), who retired on July 1, 2025, understanding their tax obligations is key to managing their income wisely. Let’s walk through their first year of retirement and see how their income stacks up against federal and state…
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When it comes to retirement planning, tax strategy can be just as important as investment performance. One of the most powerful tools for reducing your future tax burden and creating long-term flexibility is the Roth conversion. By moving funds from a traditional, tax-deferred retirement account into a Roth account, you can pay taxes now and…
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When you hit age 73 (if you were born between 1951 and 1959) or 75 (if you were born in 1960 or later), Uncle Sam wants his cut of your tax-deferred retirement savings. That’s where Required Minimum Distributions, or RMDs, come in. These mandatory withdrawals from IRAs, 401(k)s, and other retirement accounts can cause a…
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Retirement isn’t just about numbers—it’s about dreams, timing, and the courage to take the leap. For Bob and Barbara, a couple from Kentucky with a lifetime of memories and a love for adventure, the question was simple: Can we afford to retire now and live the life we’ve imagined? To find out, we ran a…
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As you plan for or enter retirement, one of the most important decisions you’ll make is how to invest your savings. Should you try to beat the market with active investing, or should you aim to match the market with a passive approach? Let’s break down the differences, explore real-world examples, and help you decide…
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Here’s a blog post tailored for retirees, based on the latest and most reliable information about reverse mortgages from trusted sources like AARP and the National Council on Aging: As retirement unfolds, many older adults find themselves rich in home equity but short on liquid cash. If you’re 62 or older and own your home—or…
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Let’s walk through a real-world example of a married couple living in Austin, Texas, filing jointly with one child. Their income sources and deductions create a fairly common tax scenario that many families can relate to. Here’s what their 2024 tax picture looks like: The Financial Snapshot Residency: Austin, Texas (no state income tax) Filing…
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Retirement isn’t just about managing your money — it’s also about managing the unexpected family and legacy twists that life throws at you: Adult children moving back home. Unexpected caregiving roles for parents or siblings. Wills, trusts, and estate plans left incomplete. Family disputes over inheritance. If you don’t plan for family surprises, they can…
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When you think about threats to your retirement, you probably picture stock market crashes or big medical bills. But the most dangerous threats are often silent and slow: Inflation chips away at your purchasing power year after year. Taxes drain more from your withdrawals than you expect. Rising living costs can quietly wreck your careful…