Archive for August 2021
Plan for the Tax Rates of the Future
Retirees may no longer receive taxable income from an employer, but they will likely receive income from other sources which can be taxed. And while we know what the tax rates are now, we don’t know what they’ll be in 10 or 20 years – or even one year from now. This is why it’s…
Read MoreHow This Generation Will Influence Culture
By the year 2035, Americans 65 and older are expected to outnumber those under 18 for the first time in our country’s history.[1] In a culture that tends to glorify youth and doesn’t know how to handle older American’s problems, this will mean some major changes. Whether it’s through celebrities who refuse to retire, retirees…
Read MoreHow the Millionaire Next Door Can Approach Retirement Planning
Many of today’s retirees are the wealthiest retirees of all time. Rising home values, strong market returns, and a generation of dedicated workers mean that there are more millionaires than ever. But, even if you have built a substantial nest egg, you may not feel like a millionaire and may be worried about how you’ll…
Read More3 Celebrities Who Refused to Retire
It’s always a bit jarring to see the actors and actresses of your youth in the present – sometimes they become unrecognizable with age or disappear from the spotlight altogether. However, there are those rare gems whose talent is ageless and simply refuse to stop working. We can learn from their wise words about aging…
Read MoreWhat’s Your 401(k) Game Plan?
If you’re nearing retirement, have retired, or recently left your company for any reason, you should create a 401(k) game plan. Know how your investment options can expand, how to avoid tax traps, and what you’ll do with any company stock in your 401(k). There are many options, and the right one depends on your…
Read MoreRetirement is Your Never-Ending Summer
As summer draws to a close, we might be planning our last trip to the beach or a favorite weekend destination. Whether you choose to enjoy the long summer days by lounging around with a good book or doing something a little more physically taxing, summer is a special time that we’ve cherished since childhood.…
Read MoreHow a Financial Advisor Can Help You Pursue Tax-Smart Strategies
They say there’s no such thing as a free lunch, but what about a tax-deductible lunch? While many of your income sources can be taxed, there are strategies to help minimize your overall tax burden before and in retirement. An advantage of going to one professional for all of your financial planning needs is that…
Read More3 Common Scams Aimed at Retirees
Cybercrimes aimed at older Americans have increased five times since 2014, and all too often, they’re successful. Social Security and retirement account scams can be financially devastating and very difficult to correct, so know how to avoid them. Awareness is crucial – read about these three common scams aimed at retirees. Social Security Scam You…
Read MoreHow Will Social Security Respond to Higher Inflation?
Inflation is on the rise, and Federal Reserve Chairman Jerome Powell recently testified to Congress regarding the Federal Reserve’s commitment to controlling inflation. He admitted that inflation is “well above target” but didn’t indicate any major changes in Fed policy in the near future.[1] Retirees may need to be concerned about inflation, which can eat…
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