Required minimum distributions are once again mandatory in 2021. But there are new rules to be aware of if you haven't had to take RMDs in the past.
Nobody wants to outlive their money. Here is a strategy that can help reduce income taxes in retirement, ensuring your money will last longer.
Did you take an RMD before the CARES Act passed and changed the requirement? There's still time to roll back your withdrawal.
The concept of retirement has evolved. Instead of focusing on the golf course and the bridge table, today's retirees are showing up on college campuses, or at least they were until the pandemic set in. Still, seniors are turning to education as one of their primary interests in retirement, and there are lots of opportunities to consider in both the real and virtual worlds.
Retirement is supposed to be enjoyable. Healthy financial habits should have set you up to do the things you've always wanted. But too often, individuals make mistakes that derail their plans to be financially independent. Learn how to set yourself up for a worry-free retirement.
You're getting closer to retirement, and it's time to put a plan in place. Here are some questions to consider and mistakes to avoid.
For individuals who would like to donate some of their IRA to charity, making a Qualified Charitable Distribution could be a good strategy.
"When should I retire?" is a question asked by millions of people every year. There is no one-size-fits-all answer, but here are some things to think about as you ponder your own retirement.
The CARES Act is an economic stimulus package designed to help small businesses and individuals during the Coronavirus pandemic. Here are the main points that impact individuals.
The SECURE Act likely impacts everyone's retirement and estate planning. Watch this webinar replay to learn about the major changes and what strategies are available to mitigate potential problems.
The recently passed SECURE Act has made several changes to retirement plans, some of which could result in an increase in the amount of money being left to charities. Read why.
There's no place like home. That's the feeling many of us have as we age and need to consider where and how we will live as seniors. It's not always an option, however. Read how two retirees made their (different) choices.
The recently passed SECURE Act contains the most significant changes to retirement since 2006, and there's something in it for everyone. Find out how the changes may impact you.
A Reader of Ask NJ Money Help asked: I take Required Minimum Distributions every year, but I don't need the money. How can I decide if I should convert the IRA? The short answer is you could be a candidate for a Roth conversion, but it depends on several issues. Read the full answer here.... Continue Reading →
Retirement is supposed to be enjoyable. But every day people make mistakes that derail their plans to live comfortably in retirement. Read about the most common pitfalls you can avoid.
401(k) balances are near all-time highs, leaving retirement savers feeling pretty good about themselves and their futures. Eventually though, we all have to take distributions from those accounts, and that includes paying taxes. To lessen the tax bite, financial pros recommend a few key tips.
Saving for retirement seems like a straightforward goal. Yet nearly 50% of people wishes they were saving more. Part of the challenge is knowing where to keep it. Learn about some of your options, and the rules to consider.