Most qualified retirement plans offer significant tax benefits – if you’re willing to follow a few IRS-specified rules, that is. The federal government wants to make plans such as 401(k)s, Keoghs, SEP-IRAs and traditional IRAs available for specific needs and has enacted laws to help eliminate potential abuses of these tax-advantaged investment alternatives. Retirement Plans […]

How Living Expenses Change During Retirement. There are some upsides to being a retiree – senior discounts, lower taxes, subsidized healthcare, and regular Social Security checks among them. On the other hand, mature Americans must contend with worrisome issues such as rising costs for medical care, long-term care, prescription drugs, and even basic necessities such […]

Social Security was never designed to be an individual’s sole source of retirement income. Instead, it was meant to bridge the gap between people’s income from pensions and savings and their monthly expenses. Today, however, nearly two-thirds of all seniors rely on Social Security for at least 50% of their total monthly income. Nor are […]

The Roth IRA offers a number of advantages over its traditional counterpart. These include: Tax-free distributions at retirement Ability to continue making contributions beyond age 72 No required minimum distributions beginning in the year you turn 72 Leaving assets to survivors that are free from income taxes Details on eligibility to convert a traditional IRA […]

Planning for The “Golden Years” There’s a saying that if you have your health, you have everything. Well, that’s not exactly true – without adequate resources, you could enjoy a long, healthy retirement at a far lower standard of living than you’d prefer! When preparing for retirement, it’s vital to keep in mind the importance […]