RMDs on Inherited Retirement Accounts in the Age of the SECURE Act
Tom Fridrich, Senior Wealth Planner Once upon a time, people would put money in their 401(k) or IRA accounts and know that – should their retirement savings outlive them – their loved ones would inherit the rest and all would essentially be well.
Don’t Blow Your Budget! Tips to Create Your Retirement Spending Plan
Ryan Yamada, CFP®, Senior Wealth Planner It was late one afternoon when I received the call from a retired client.
Five Reasons Your IRA Is Deflating, and What to Do About It
By Craig Lemoine, Ph.D., CFP®, Director of Consumer Investment Research Stocks, bonds and mutual funds have had a rocky start to the year. The S&P 500, a broad measure of the United States stock market, was down 4.6% over the first quarter. Mutual funds holding stocks and bonds have als …
What to Do 1, 5 and 10 Years Before Retirement with Your Money
by Jamie P. Hopkins, ESQ., CFP®, LLM, CLU®, ChFC®, RICP® Regardless of whether you plan to retire in 10 years, or are shooting for early retirement, there’s one main goal your planning should be working toward: saving enough so that you don’t outlive your money.
What is the SECURE Act 2.0? Key Takeaways from the Latest in Retirement Legislation
By Jamie Hopkins, Managing Partner, Wealth Solutions The next wave of retirement planning reform is headed for shore.
Tax Planning in Retirement: Strategies to Minimize Taxes When You Retire
Karl Strube, Senior Tax Planner The transition from employment to retirement can be complex. For decades, you received either a regular paycheck or earnings from self-employment, and now that will slow or stop. To compound that, you’ll be taking money out of all these accounts after putting …
Most Changes to Personal Taxes, Retirement Plans Dropped from Build Back Better Act Tax Provisions
By Jamie Hopkins In September, I covered the proposed tax plan released by House Democrats on the House Ways and Means Joint Committee, which would help pay for the $3.5 trillion Build Back Better Act through changes to corporate, personal and other taxes, as well as retirement plans.
Income-Related Monthly Adjustment Amount (IRMAA) Worksheet
IRMAA, or the income-related monthly adjustment amount, is an extra amount you have to (or will have to) pay on top of your Medicare Part B and Part D premiums based on your income. Now that you know what IRMAA is, it’s never too early to start thinking about when you’ll eventually have to …
Proposed Bill Includes Tax Increases for High Earners, Retirement Account Changes
Last week, Democrats on the House Ways and Means Committee released a draft of their proposed tax plan, which includes changes to corporate, personal and other taxes, as well as retirement plans – though Social Security would be untouched.
Thinking of Social Security as Our Biggest Asset
You might have more money stashed away in the Social Security trust fund than anywhere else. In fact, what you put into Social Security very well might be your biggest asset and future source of retirement income.
Social Security Taxation Worksheet
Did you know your Social Security benefits can be taxed? That’s right – up to 85% of your Social Security benefits, money that you put away over your entire career, could be subject to taxation when you receive the benefits in retirement. Our worksheet helps you figure out if you owe, and h …
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Medicare and Managing Health Care Costs in Retirement
Health care costs in retirement aren't going anywhere. Naturally, as our bodies get older, it costs more to keep them running. Let's look at the parts of this vital program and how it plays a part in your financial plan.
