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.
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.
High Inflation Hits Retirees Hard
Inflation can be a retirement killer, but it doesn’t have to be for seniors who take the time to develop a plan for beating it.
Medicare Premiums Are Rising – Again
While it’s not unusual that Medicare premiums may increase over time, next year’s increase is the largest dollar increase in the health insurance program’s history. Why the steep increase?
You’ve Met Your Retirement Goals – Now What?
Everyone’s retirement will look a bit different, so in this post we consider what happens when all of your planning has worked and the time to retire is here.
Getting Financially Back on Track After the Pandemic
As you’ve heard me say many times, having a complete retirement system with downside risk mitigation strategies is crucial to set yourself up for the best chance of financial success in retirement.
It’s All About Creating Options, Folks.
A sound retirement system is not comprised of just one investment. A solid retirement program must be diversified to address risk, income, taxes, inflation, healthcare expenses, and more.