The average Social Security recipient will get a $5 raise next year. Yes, a whopping $5 per month. In 2017, Social Security’s mean monthly benefit is projected to rise – from the current $1,355 – by this scant amount, all because of low yearly inflation measured by the federal government. Here’s our last 5 years…
I wrote about ticking tax bombs a couple of months ago. These land mines can lie dormant, hidden for years. In a flash, completely unexpected, they can blow up in your life. This may be the most important conversation and planning we do together. Read more… To Your Best 2nd Half, …
Why stop working if you’re healthy and enjoying what you’re doing? A majority of boomers expect to work in their sixties and seventies, and that expectation may reflect their desire for engagement rather than any economic desperation. Baby boomers realize that their retirements may not unfold like those of their parents. New survey data from…
I’m grateful that most of the folks that I meet with are comfortably on their way to retirement or comfortably in retirement. I came across an article recently that reminded me of a number of conversations I’ve had over the years though. I hear stories of children (and grandchildren) that struggle financially. The article confirms…
You may have worked 30-40 years waiting for the day to come and walk into the hopeful bliss of retirement. When that day comes; if you’re married and if you’re not on the same page, bliss can easily turn to regret if not agony. The most successful retirement couples I’ve worked with are those that…
When we look at the “Smart Money Ladder” there are only two choices at the very top. This is one of them. If you are solopreneur this is an option well worth considering. If you find yourself as a solopreneur (even part-time) you should look at the potential of the Roth Solo 401(k). If you…
The smart money knows how devastating taxes can be to a good retirement plan. With the size of our national debt (and despite the best we can plan) the government (GOP or Dems) could decide to raise our taxes one day to handle the massive burden that continues to build every day. Our national debt…
Conventional wisdom says yes, but there are exceptions. Shouldn’t you delay IRA distributions for as long as you can? According to conventional retirement planning wisdom, you should structure your retirement withdrawals so that money comes out of your taxable accounts first, then your tax-deferred accounts, and then finally your tax-free accounts. Roughly speaking, that means…
If you’ve experienced the passing of a loved one and become an executor (or personal representative) you know well the long list of issues that have to be confronted. If not, the article below will give you a head start. Depending on your family, estate, desires or other reasons the list may be longer for…
A financial checklist for the most difficult of times. The passing of a loved one irrevocably alters family life. After a death, there is so much to attend to that addressing financial matters related to a family member’s passing may be put on hold. This should be done, though, and it is better to do…