Retirement income is the money you receive from various sources during your retirement years. It's important to plan for retirement income, because you will no longer be receiving a regular paycheck from employment.
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As retirement approaches, you need to shift focus from simply saving money to creating a plan for reliable retirement income while also protecting your wealth.
The Social Security decision for the higher earner in an age-gap marriage is tricky, as claiming age can determine a widowed spouse's income for years.
Recent events have reminded me of the old adage: "when it rains, it pours." Car died, landscaping bills due, dishwasher died, chair died. On and on, actually, in the space of a couple of months. My re...
I retired 2.5 years ago from a company. Immediately, my income went up. My current income is made up of a pension from a previous government career; income from commercial rental property; and deferre...
This week Roger talks about one of the biggest challenges retirees face today: information overload. He explains why more information doesn't always lead to better decisions and why building a great r...
Retirement researchers increasingly recognize that real spending does not remain flat throughout retirement. As Dr. David Blanchett emphasized in his recent Think Advisor article: “Integrating reduced...
For those who are between 59 1/2 and 65, do look into doing (some) Roth conversions within your IRA/401K accounts. If you don't, you may end up in a bind in the future. I did not do any Roth conversio...
FIRE is ultimately about being set for life. You build a portfolio big enough to cover your expenses, and then your one job is to not blow it up. But here's the tension worth talking more about. The m...
Women are often more consistent retirement savers than men, according to Vanguard’s How America Saves 2026 report. They participate in 401(k) plans at higher rates and frequently save a larger percent...
David Conti has spent decades writing about retirement, Social Security, Medicare, and personal finance. After helping others prepare for retirement throughout his career—including his time at Fidelit...
I retired last spring at 62. My wife had already stepped back from her job the year before. We had saved, we had a plan, but the number that kept me awake was $1,280. That was the monthly quote for a ...
Accumulating wealth for retirement is one thing, having a solid income structure and tax plan is another. Without them, savings could quietly drain away.
I'm preparing for RMDs. I normally make a series of charitable contributions, which are at least partially funded by Regular IRA withdrawals. From what I understand, QCDs can be beneficial in the foll...
I ran the KFF calculator for a couple at $84,599 vs $84,601 across nine states. The two-dollar difference ....yikes. I wanted to know what it actually costs a pre-retiree couple to land on the wrong s...
Healthcare has been the one part of the U.S. economy that didn’t flinch. While manufacturing and tech cycled through layoffs, ... Read more
If you have a pension and $1 million-plus saved, deciding when to take Social Security is about optimizing your taxes, legacy planning and long-term income.
Households often have assets they expect to use during retirement that are not level streams of income, as well as expenses that are not expected to recur every year. These items need special handling...
This week Roger explores the idea of "digging where your feet are" and how focusing on what you can do today can reduce anxiety about the future and regret about the past. In the Retirement Toolkit, h...
Erin Moriarity shares her take on Social Security timing, building a retirement income floor, and when to stop going DIY and hire a CFP. The post Erin Talks Money: What She Wants Retirees to Know appe...
Schedule a Free Financial Assessment with an experienced professional: https://bit.ly/YMYWassessC Joe Anderson, CFP® and Big Al Clopine, CPA spitball for three people planning for early retirement and...
Six Essential Tips for Any IRS Letter Before diving into the specifics of the five most common letters, we share six universal tips to ground your response: Don't Panic – IRS notices are routine, and ...
You'd assume retiring with $10 million is a hundred times better than retiring with $100,000. It isn't. And the reason is stranger than you'd think. Because the size of your portfolio barely tells you...
Did you know that Medicare Premiums are income based? The more you make the more you pay. How to avoid IRMAA jacking up your Medicare premiums in retirement.
Rather than fixating on a savings goal, pre-retirees should focus on building an income strategy that accounts for actual expenses and can adapt to changes.
Multi-year guarantee annuities can outperform bonds and bank CDs — but before you buy, here's how they work.
We have recently received inquiries as to how to use Copilot to implement the Actuarial Approach. Copilot can use different data sources to provide reasonable results, but we recommend that you provid...
The middle class spans roughly $55,000 to $167,000 nationally. It varies by area, and says less about financial security than most expect. The post What Is Middle Class in America? Beyond the Income R...
This week Roger breaks down IRMAA Medicare surcharges and why retirees should understand them without letting them dominate retirement planning decisions. He explains how the income thresholds work, c...
I retired from full time work with a pension that pays most of my expenses, including healthcare. I also have some part time work. If I have extra money at the end of the year from this work, should I...
Financial Assessment (Meet with an experienced professional): https://bit.ly/PureFreeAssessment 11 rapid-fire spitballs today from Joe Anderson, CFP®, and Big Al Clopine, CPA, on Your Money, Your Weal...
Many retirees are surprised to learn that Medicare isn't always a fixed cost. If your income exceeds certain thresholds, Medicare can charge significantly higher premiums through a little-known rule c...
Real life can lay waste to shaky retirement income formulas. It's better to build a stable plan for your money in three layers: Need, want and grow.
Hello, I am recently retired. I am not collecting SS yet. I am living off of my wife's small income and a severance I received from work. I have a very healthy 401k balance a few small pensions so we ...
Prudent retirement planning requires using a planning horizon longer than your life expectancy. In prior posts we have recommend using the Actuarial Longevity Illustrator and the three-step process ou...
This week, a simple quote about wasting time sparks a deeper conversation about why retirement isn't meant to be endlessly optimized. In the Retirement Toolbox, we compare mutual funds and ETFs, explo...
This week in Kiplinger:https://www.kiplinger.com/retirement/happy-retirement/master-the-art-of-spending-in-retirement No wonder, then, that many retirees at all levels of wealth are pulling the reins ...
Hello all, i am still a few years from retirement, but trying to prepare in advance. I have used Boldin to try to figure things out and watched a bunch of videos etc on retirement income etc. however,...
What if your Social Security benefit is worth far more than you realize, and the decision of when to claim it could be one of the biggest financial choices you'll ever make? As part of our "By the Num...
The 2026 Social Security Trustees Report moves a 22% benefit cut to 2032. The fix is an old idea: tax investment income to retire the program’s legacy debt.
When it comes to retirement savings, Roth IRAs are among the most powerful tools for achieving tax diversification and financial flexibility. Knowing how and when to tap into your Roth IRA can make a ...
Roger Whitney explores the relationship between cost and value in retirement planning, focusing on how to better understand the fees associated with financial advice, investments, and insurance produc...
Back story: - 2015 Spouse retired at 65 and receives SS. - 2021 I retired at 64.6 and receive a monthly pension and SS. - Prior to retirement, we were able to save ~300K in cash. ~400K in 401. In 2014...
Today, I'm honored to welcome Bill Bengen to the podcast. Bill is widely known as the father of the 4% Rule and as one of the most influential retirement-income researchers in history. His groundbreak...
We recently came across a Monte Carlo modelling tool called the Retirement Probability Simulator (RPS). It is a free tool available at DIYretiree.com that our readers may find useful in their financia...
I have approximately $500,000 in a brokerage account which is comprised of stock that I have held for nearly 25 years. It’s up approximately tenfold from when I acquired it. I’m about to retire and ha...
I recently toured Opus, an inspiring new senior living development in Newton, Massachusetts, and then had a conversation with its founder, Amy Schectman, on my Risking Old Age in America podcast. Amy ...
I've been lurking here for some time now. I'll be 68 in just a few months and for the past few years have gone on YouTube and some of the other retirement subreddits to figure out if my money would la...
Norman Calvo explains how he found a third act in retirement by going against the norm and choosing adventure instead of a typical retirement. https://youtu.be/81atmTUjBWE One of the questions I ask p...
We consider the case of a retired couple relying on summer rental income from a $1.1 million beach house. Local zoning changes are forcing a hard choice between lifestyle and portfolio stability.
Back in 2014 I followed J. Money through his Budgets Are Sexy website. If I'm not mistaken he was the creator of the Lifetime Wealth Ratio (LWR): https://budgetsaresexy.com/total-lifetime-earnings-wea...