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Can You Save Too Much for Retirement?
Yes. In this piece Martin Dasko dives into what happens when you save too much for your golden years — and what you can do to avoid this situation. Consider joy; people may not be motivated to go on the same adventurous trips at 70 as at 30. Then there’s the issue of your tax bill being higher if you save too much. Another downside is you may have gotten more value out of the money when you were at a different stage in life. To avoid saving too much, Dasko says 1.) Consider Giving Your Children Their Inheritance Earlier in Life; 2.) Give Money as Gifts; and 3.) Work With a Retirement Tax Specialist. Full piece here.