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Category: Retirement Planning
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If you’re approaching age 73 (or 75, depending on your birth year), the IRS requires you to start taking Required Minimum Distributions (RMDs) from your retirement accounts. But what if you have multiple IRAs? Can you take the RMD from just one? Should you consolidate? What are the risks and benefits? Let’s break it all…
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When Melissa and James Carpenter wrapped up their final year of work in San Diego, they were riding high. Melissa (60), a recently retired software project manager, and James (62), a mechanical engineer turned hobby woodworker, had saved diligently and lived modestly. With no debt, grown children, and a $2.3 million portfolio, they assumed the…
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Saving for retirement can feel like a distant priority—especially when you’re juggling bills, family expenses, and career goals. But if there’s one financial move that can dramatically improve your future security, it’s contributing to a 401(k) plan. Whether you’re just starting your career or nearing retirement, understanding the power of a 401(k) can help you…
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When it comes to retirement planning, most people focus on securing income for their own golden years. But if you’ve done well financially and your goal is to pass on wealth to your children, there’s another crucial piece to the puzzle—how you leave that money behind can matter just as much as how much you…
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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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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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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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How Taxes Can Sneak Up on Your Nest Egg – and What to Do About It You’ve worked hard, saved diligently, and now you’re finally approaching retirement. Congratulations! But just as you’re ready to relax, there’s one shadowy figure who’s not ready to let go… Meet the Tax Reaper—the ever-present villain lurking in your retirement…