Setting up an investment account for every newborn, with the federal government seeding it with $7,000, might be a solution to the looming Social Security crisis, says expert.
Spousal benefits allow a person to receive up to half of their spouse's retirement benefits. However, the 2015 Bipartisan Budget Act changed some of prior criteria. Watch this short video to learn more.
Clients should not underestimate the impact of taxes on their income after they retire, as their tax liability could reduce substantially their net earnings.
Retirees who retire before 65 and want to reduce their premiums are advised to keep their taxable income between $12,060 and $48,240 (for singles) or $16,240 and $64,960 (married couples).
Health savings accounts are not only for funding immediate medical needs. They offer three distinct tax benefits that make them a powerful form of retirement savings.
