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Are you using your tax return to save for retirement?
According to GoBankingRates, roughly seven percent of Americans plan to use this year’s tax return to save for retirement. The older millennials between 35 and 44, and for soon-to-be retirees, aged 55 to 64, that figure rises to 10 percent.…
Is there a “magic formula for retirement income security”
It seems that some people make the mistake of basing their retirement on a magic number. Yes, it makes sense when you’re in your 30s, 40s, and even early 50s but retirement planning becomes much more complicated when you reach…
The current budget proposal calls for allowing Medicare beneficiaries to make contributions to HSA
In President Donald Trump’s 2020 proposed budget, it would allow Medicare beneficiaries to contribute to health savings account. This is a change from the current law which people enrolled in Medicare cannot fund an HSA. Although it is uncertain whether…
Do you know exactly what your retirement goal is?
According to a 2018 study by Northwestern Mutual, 70 percent of Americans feel they have inadequate retirement plans. They don’t know how much money they’ll need, causing more dread when they retire instead of gleeful anticipation. Why? Read the attached…
A sound retirement plan
We all have heard the saying “Worry most about the things you can control – but don’t ignore the rest.” In the recently released J.P. Morgan Chase’s 2019 Guide to Retirement, one of its leading charts looks at the factors…
Social Security tips for 2019
Millions of seniors count on Social Security to pay their bills and enjoy their retirement. If you expect to count on those benefits, you will need to have a strategic plan. The attached article gives you a few keys things…
After age of 65, the rules change for HSA withdrawals
You may be tempted to withdraw money from your health savings account for non-medical expenses before the age of 65, but you will have to pay a 20 percent penalty plus income taxes. However, after age 65, the penalty disappears,…
You still have until April 15 to make contributions to your IRA for 2018
You still have until April 15 to make contributions to your IRA for 2018 even though that tax year has come and gone. And you may want to consider getting a head start on your retirement savings for 2019, by…
A simpler framework to build a solid financial retirement plan
Does it all come down to these three major money decisions about your retirement? According to a recent blog post from Of Dollars and Data, the financial aspect of retirement planning boils down to the three things. Read attached article to…
What are the wild cards that can financially deplete your retirement savings
As life expectancy rises, more retirees will face late-life financial risks according to the Center for Retirement Research at Boston College. Those financial risks include but not limited to high health costs, financial mistakes due to cognitive decline, and death…