Retirement

Managing uncertainty is one of the most difficult aspects of crafting a retirement strategy. Markets fluctuate, tax laws change, healthcare costs rise unexpectedly, and, perhaps most challenging of all, no one knows how long they will live. However, we believe figuring out longevity—the number of years a person can live in retirement—is one of the […]

Traditional IRAs, 401(k)s, and similar retirement accounts allow you to save money before taxes, letting your money grow for decades. But eventually, the IRS requires you to start withdrawing a portion of those savings each year. These withdrawals are called required minimum distributions, or RMDs, and the income you take out is taxed at your

By the middle of the twenty-first century, one in every six people will be 65 or older. Furthermore, it is likely that by 2034, the Social Security Administration program in the United States will be unable to provide complete benefits. These demographic and financial pressures could spark a retirement crisis. However, there is another issue

Losing a job is never easy—but when it happens later in life, the challenges can feel even greater. Many people in their 50s are juggling significant financial responsibilities, like mortgages, supporting kids through college, or helping aging relatives. When they’re laid off, finding a new role that offers comparable pay and benefits can be a

The majority of Americans responded that their biggest fear was not dying, but rather running out of money in retirement. This is a conclusion drawn from a recent study by Allianz Life, which found that people approaching or already in retirement are deeply concerned about economic uncertainty. According to the survey, 64% of participants are

As people age, many share similar goals: to remain in their own homes, maintain independence for as long as possible, and rely on family and friends for support only when necessary. This concept of staying in one’s own home throughout the aging process is known as aging in place. However, successfully aging in place requires

Although the age to claim Medicare is 65, many senior benefits and discounts begin much earlier. When you turn 50, you can join the AARP or AMAC and start taking advantage of senior discounts. Other reductions have minimum age requirements, which vary by employment or location and might range from 50 to 65 years. Are

Many retirees are concerned that they may outlive their savings, making it hard for them to spend money during retirement. Can you blame them for being scared to spend? Much of the financial world is focused on how woefully unprepared most Americans are for retirement. There’s also much focus placed on a 3%, 4%, or

Taking out an extra $10,000 from your savings for a new roof may not seem like a big deal at the time. However, costs build up, and plans to cover future expenses may be disrupted. Every penny counts in retirement, so you should create a detailed budget that addresses as many potential issues as possible.

When employees change jobs, their retirement plan accounts may be left behind and eventually forgotten. Fortunately, a new federal database should make it easier to find your lost retirement accounts from previous employers. In May 2021, there were over 24.3 million forgotten 401(k) plan accounts, valued a combined $1.35 trillion. For May 2023, over 29