Retirement Income

IRS Seeks to Adjust RMDs for Longer Lives

12th Nov, 2019

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IRS Seeks to Adjust RMDs for Longer Lives

From: www.thinkadvisor.com

The proposed regs “recompute required distributions from IRAs, 401(k)s, and similar plans,” says former tax attorney Andy Friedman.

The Internal Revenue Service has released proposed regulations to update the life expectancy tables for required minimum distributions from qualified retirement plans, IRAs and annuities.

The proposed regs, which will be published in the Federal Register on Friday and be…

These 5 sources of retirement income aren’t taxable

2nd Nov, 2019

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These 5 sources of retirement income aren’t taxable

From: www.usatoday.com

Just as taxes are a huge burden for working Americans, they can also be a drain on seniors’ limited resources. If you’re worried about affording your golden years, it pays to set yourself up with a number of income sources that the IRS can’t tax you on later in life.

The last thing you need as a senior is…

Common factors affecting retirement income

10th Sep, 2019

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Common factors affecting retirement income

From: Key Private Bank

When it comes to planning for your retirement income, it’s easy to overlook some of the common factors that
can affect how much you’ll have available to spend. If you don’t consider how your retirement income can be
impacted by investment risk, infl ation risk, catastrophic illness or long-term care, and taxes, you may not be able to enjoy the retirement you envision.

Investment risk

Different types of investments…

New research from Principal shows annuities improve retirement outcomes

7th Aug, 2019

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New research from Principal shows annuities improve retirement outcomes

From: www.principal.com

10,000 simulations highlight impact of guaranteed income for retirees

The simulations have been run and the numbers have been crunched: annuities help improve retirement outcomes compared to investments alone. This is according to new research commissioned by Principal Financial Group® and conducted by Michael Finke, Ph.D., CFP®, and Wade Pfau, Ph.D., CFP®.

The research looked at how retirees can use guaranteed…

15th Jul, 2019

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Should you always keep an emergency fund?

From: REAP, LLC. | Retirement & Estate Advisors & Professionals

You’ve probably heard that you should have an emergency fund. The purpose? To tide you over for a few months in case you lose your job.

So does that mean you can stop worrying about maintaining this rainy day account once you retire?

Not really. Retirees should probably consider keeping their emergency funds intact for several reasons.

Here’s why…

The Case for Fixed Income

28th May, 2019

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The Case for Fixed Income

From: Sound Income Strategies, LLC

Renewable Income Streams to Keep You a Step Ahead of Inflation

  • Why now is still a good time to buy and hold bonds
  • What if I invest today and rates go up tomorrow?
  • How to create a steady stream of income you can count on well into retirement

Renewable Resource — A natural resource that can replenish itself naturally over time.

We hear the term…

How to Minimize Social Security Taxes

16th May, 2019

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How to Minimize Social Security Taxes

From: money.usnews.com

Your Social Security benefit may be taxable. Try these strategies to reduce your tax bill in retirement.

Most workers pay intothe Social Security program throughout their career. Many people also pay taxes on part of their Social Security payments in retirement.

Retirees with low incomes or whose only source of income is Social Security generally don’t pay income tax on their Social Security benefit….

Top Asked Social Security Benefit Questions

7th May, 2019

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Social Security is one of the main benefit programs for workers in the United States. At some point, almost everyone will collect something from Social Security. If you are getting close to collecting from Social Security, you might be wondering how the program works and what to expect. Here are some of the most commonly asked questions about Social Security benefits.

How Old Do You Have to Be to Collect?

The short answer is that it…

The Average Social Security Recipient Today Only Gets This Much Income

6th May, 2019

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The Average Social Security Recipient Today Only Gets This Much Income

From: www.fool.com

Hint: It’s really not enough to live comfortably on.

Millions of seniors today collect Social Security, and many rely on those benefits for the bulk of their income. If you’re planning to do the same in retirement, then chances are, you’re not doing much to save independently at present. But before you decide to settle on Social Security…

Retirement account gaffes: Clients’ biggest withdrawal mistakes

1st May, 2019

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Retirement account gaffes: Clients’ biggest withdrawal mistakes

From: www.financial-planning.com

Baby boomers in the job market grapple with a persistent worry: What if I have a financial emergency that compels an early withdrawal from my retirement account? The income tax hit alone is painful but, unless an exception applies, the additional 10% penalty for those (usually) under age 59 1/2 applies salt in the wound.

The good news is that tax law…