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“It is really as important for plans to get people thinking about income rather than just accumulation,” an expert says.
March 2
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One of these snags is taxation on clients’ retirement income, which can hurt their cash flow.
February 28
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Filing at the wrong age and failing to take advantage of programs like spousal and survivor benefits are just a few common mistakes seniors make.
February 26
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Older clients who have lost a job prior to retirement are advised to first consider filing for unemployment insurance and begin making revisions to their budget.
February 25
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Some tax credits are refundable, meaning they can get a refund in case the credits exceed their actual tax liability.
February 25
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Aside from income taxes, retirees will also pay consumer taxes and may face a 3.8% Medicare surtax.
February 24
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“The advice I give is to calculate the financial impact for each option,” an expert says.
February 21
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Seniors choosing between traditional and Roth IRAs must account for their current and future tax rates.
February 20
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The Social Security retirement rate is based on their highest 35 years of wage-indexed earnings.
February 19
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The spike in the number of older employees in the workplace reflects a trend over the past decade.
February 18 -
Pre-retirees may consider funding a Roth account to take advantage of tax-free compounding and tax-exempt withdrawals in retirement, an expert writes.
February 14
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The sweeping retirement legislation, called the Secure Act, is gaining plenty of headlines. One revision is being overlooked.
February 13
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OneDigital’s acquisition of Resources Investment Advisors shows a convergence between two major spaces within financial services.
February 13
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Taking advantage of catch-up contributions is one of several methods that can help them get back on track.
February 12
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The HSA has become increasingly valuable for future medical expenses, "and the triple tax benefit simply can’t be ignored,” an expert says.
February 11
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They are advised to consider making amendments if they want to take advantage of temporary tax provisions that Congress extended retroactively in December.
February 11
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Retirees can reverse their claiming decision, but not without considering one important caveat.
February 10
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Seniors may consider working longer or relocating somewhere where their benefits are not subject to state taxes.
February 7
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While it’s recommended they have at least three sources when they retire, just 6.8% of savers have done so, according to a report.
February 4 -
While retirement readiness among Americans has improved in general, Gen Xers are struggling with housing, college and medical costs, a survey finds.
January 31
