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Life Lessons . . . My Girls Love These!
This week I’d like to share some “life lessons” that I have shared with my girls that hopefully can help others to better understand and prepare for common retirement challenges, particularly women.
Inflation . . . It’s A Tax!
Inflation is often called the “silent killer” of retirement plans due to its ability to sneak up on us slowly, eroding the purchasing power of our dollars over time.
The Great Divide
Divorce is stressful enough on its own. The potential complications it creates around retirement can be mitigated with thoughtful planning.
Should You Enter Retirement Debt-free? I Am Not So Sure.
It’s always surprising to see recommendations to pay off all debt, including mortgages, before retirement. A one-size-fits-all approach like this can be dangerous, and possibly delay retirement much longer than necessary in search of this goal.
New IRS Life Expectancy Tables Will Lower Your RMDs in 2022
401k or IRA funds are what we call “tax-deferred”, not “tax-free”. IRS tax laws require funds invested in tax-deferred plans must start to be distributed by age 72, and taxable at your current tax rate when taken.
Budgeting for the Unknowns of Retirement
Aside from taking the time to estimate what your retirement expenses will be – by creating a budget – you should also consider other factors that influence how much money you think you’ll spend and perhaps adjust accordingly.