401(k)

IRS rules allow clients in certain circumstances to tap their retirement accounts before the age of 59 1/2 without a 10% penalty. But this still should be considered a last resort, an expert says.

Even though the program was created by a large multinational corporation, companies of all sizes could utilize this approach.

The guideline used a specific set of assumptions: a retirement lasting 30 years with savings in a tax-deferred account and nothing left for heirs. Change just one and your “safe” withdrawal rate may differ.

Retirees will owe taxes for up to 85% of their Social Security benefits if their adjusted gross income plus nontaxable interest exceed a certain threshold.

A study notes that retirees might be experiencing the “Homer Simpson” mindset, in which they choose immediate gratification without thinking about the long-term consequences.

Among current retirees, the numbers aren't much better: 60% of them have not calculated how much health care costs impact their savings.

The order is for the Treasury Department to review rules that require mandatory distributions to begin when someone turns 70 1/2, and to make it easier for small businesses to offer 401(k) plans.

Cost of living is a key consideration, but a retiree’s goals and objectives are also important.

These property tax deferral programs are available to older homeowners who want to postpone real estate taxes provided they remain living in their home.

The upfront tax benefits are undeniable, but that doesn’t necessarily help business owners in the long run.