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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…
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Retirement isn’t something you can “wing.” Small mistakes today can turn into big regrets tomorrow — and once you’re retired, you may not have time to recover. In this section, you’ll meet real people who faced costly retirement planning mistakes — and you’ll learn how to avoid falling into the same traps. 10 Retirement Planning…
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Retirement isn’t just about stopping work — it’s about navigating the unexpected costs that creep up as we age: Out-of-pocket medical expenses Home modifications for mobility Help with daily activities (even if you stay at home) These hidden costs can quietly drain your savings — unless you prepare. In this part, you’ll meet real retirees…