Retirement readiness

Plunging oil prices have all but ruled out the possibility, according to a new report.

Finding the revenue to make up for the shortfall remains a “manageable exercise,” regardless of the as-yet unknown impact of the coronavirus, a Boston College economist says.

Though IRA conversions during a market correction may enable some clients to save on their taxes, the strategy is not recommended for everyone.

People born in 1960 could see a permanent cut in their benefits without action by policymakers, an expert warns.

I am advising some clients to ladder maturities to lock in more dependable tax-free income streams — especially for those in states with high income taxes, like California.

Under the new act, some can take out as much as $100,000 from retirement plans early without penalty.

The percentage of workers who say they are ready to retire has dropped by more than 5% in last month, a survey found.

Just as in the wake of the 2008 financial crisis, experts say there's rising interest in the products among advisors.

Older clients are advised to take extra steps to protect their finances as the current crisis may leave them prone to making poor financial decisions.

“Having retirement assets in both traditional and Roth accounts can help clients hedge their tax bets for retirement,” an expert says.

Mutual funds and ETFs are often created with lopsided or unequal allocations toward certain sectors of the economy, experts warn.

Aside from income taxes, retirees will also pay consumer taxes and may face a 3.8% Medicare surtax.

Pre-retirees may consider funding a Roth account to take advantage of tax-free compounding and tax-exempt withdrawals in retirement, an expert writes.

Clients can void overspending by seeking out sales and discounts to lower their food and entertainment costs.

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.

"Since no one has a crystal ball to predict what will happen, I advise saving money on both sides of the tax fence," an expert says.

While retirement readiness among Americans has improved in general, Gen Xers are struggling with housing, college and medical costs, a survey finds.