Category: Retirement Planning
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Roth IRAs are powerful tools for building tax-free retirement wealth, but the 5-year rules for withdrawals often trip people up. Let’s demystify these rules for both contributions and conversions, using common real-life scenarios for people at different stages — young professionals, mid-career savers, and retirees. What Are the Two 5-Year Roth IRA Rules? 1. The…
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If you’ve ever found yourself lying awake at night, your mind drifting from your golf swing to your golden years, you’re not alone. My husband, Mark, and I have entered that club. We’re the Robinsons: Mark, the ever-pragmatic former civil engineer; me, Leo, a now-retired graphic designer who finds solace in a messy pottery studio;…
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Retirement is a milestone many of us look forward to—a time to relax, travel, and enjoy life without the constraints of a 9-to-5 job. But the big question is: Are you saving enough to retire comfortably? With rising life expectancies, inflation, and uncertain economic conditions, retirement planning has become more critical than ever. In this…
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When Jack and Linda Thompson retired at age 60, they felt cautiously optimistic. After decades of hard work—Jack as a civil engineer and Linda as a high school counselor—they had managed to save $1 million in retirement accounts. They lived in Springfield, Illinois, a charming mid-sized city with a reasonable cost of living—but yes, Illinois…
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Retirement is the most expensive thing you’ll ever pay for—more than a house, more than college, and definitely more than your dream vacation. One of the best tools to prepare for it is the Individual Retirement Account (IRA). But like any tool, it only works if you use it right. Unfortunately, many people make costly…
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Not everyone starts saving for retirement in their 20s—and that’s okay. Life happens. But even if you’re in your 50s or 60s, there are still powerful ways to catch up and build a secure retirement. Here are eight practical strategies, each explained in plain language and brought to life through real-world stories. 1. Save First,…
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You’ve worked hard, saved diligently, and now you’re ready to enjoy the freedom of retirement. But even the best-laid plans can be derailed by unexpected financial curveballs. These aren’t just abstract risks—they’re real challenges faced by real people. Below are ten retirement risks, each clearly explained and brought to life through a true-to-life story. These…
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Retirement is supposed to be the reward for decades of hard work—but for many, it can be upended by unexpected financial shocks. Whether you’re already retired or closing in on your last working years, a sudden hit to your income or rising expenses can shake your sense of financial security. Let’s walk through six proactive…
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Retirement is a time to enjoy the fruits of your labor—but how and when you access your retirement savings can significantly impact your financial security. Whether you’re retiring early or at a traditional age, understanding the tax, healthcare, and income implications of your withdrawals is essential. Let’s explore the five most important things to consider…
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Meet Rachel and Thomas Rachel (60) and Thomas (61) live in Bend, Oregon—a scenic, fast-growing town nestled in the Cascade Mountains, perfect for biking, paddleboarding, and family hikes. Their lives have been a blend of work, parenting, and a lot of careful planning. Thomas spent 35 years as a product development manager for a regional…