Retirement withdrawals

The proposed budget includes a provision that would give Medicare recipients the option to contribute to a health savings account, which would offer various tax benefits.

Raising the payroll tax is the easy way (in theory); here are other solutions for funding the Social Security shortfall.

Younger investors may see the market's swing as just another fluctuation in the market, while assuming that time is on their side. Older investors, on the other hand, may be far more stressed.

The number of accounts with $1 million or more increased to 150,000 in the fourth quarter of 2017 from 93,000 recorded in the same quarter the year before.

Retirees are advised to step back to get a better perspective and then review their asset allocation in their portfolio.

Solid financial planning is a key component in helping demystify these government programs.

A more comprehensive approach to low-cost investing could save thousands for retirement age clients.

Personal income is not subject to state taxes in Alaska, Florida and five other states, while 31 states do not impose taxes on Social Security benefits.

Investors are starting to take money out of their 401(k) accounts—despite taxes and penalties involved—assuming it will be replaced as markets continue to surge upward.

Retirees living overseas can still claim Social Security benefits, but they must see if their country of residence requires them to have a local bank account.

Retirees should consider that state laws may differ on who may be legally recognized as a beneficiary's spouse and thus whether their partner would be entitled to spousal benefits.

While the funds are ideal for certain people, they don't address important retirement considerations, such as the cost of funding a comfortable living and a person’s savings rate.

IRA investors can draw funds from their accounts tax-free if the money will be used to fund college tuition and other related costs.

Adding five years to their working years will enable clients to replace their pre-retirement income by up to 90% instead of 60% in some cases.

With lowered surcharge thresholds effective this year, strategies to manage the bite are a way for advisors to add client value.

Tax-free withdrawals could outweigh an employer's match if early withdrawals are made for expenses like health care.

Retirees should stick to their strategies and diversify their portfolios with various sources of income.

Seniors who are 70 1/2 and older should ensure that they take their first required minimum distribution from tax-deferred retirement accounts by December 29.

Clients should refrain from cosigning their child's student loan, as Social Security could garnish their retirement benefits if the child defaults on the loan payments.

If clients miss an RMD, they will be subject to a penalty equal to half the amount they should have taken, and they'll still owe ordinary income taxes on distributions.