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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Context: USA couple. We plan to retire at around 60 years old, with no employer paid health care after that date. But, having been employed in tech, I've been a reasonably high earner in a low cost of...
My 62 year old wife is being treated for stage three breast cancer, and she is currently receiving care via Medicaid. She does not have any income of her own, she is not now receiving any Social Secur...
In the world of very early retirement, we tend to ignore one of the most important things for normal retirees: the Social Security program. Don’t get me wrong, it’s a great thing for the 73 million pe...
High-income physicians are among the most educated professionals in the country. They’re also, statistically, among the most consistent overpayers of ... Read more
If I understand this correctly, with the upcoming tax deduction in the Big Beautiful (Ugly grrr) Bill, we have a few years where your adjusted gross income may drop you down to a lower tax bracket, or...
In this episode, Roger Whitney breaks down essential elements you need to consider before and during retirement. From understanding inflation risks to strategic asset reallocation, this episode offers...
This is my first post in this group, so if this is out of place or out of line, I'm happy to remove it. I never had a plan for retirement, just, sock money away in a Vanguard account and hope for the ...
[Long] This might be one of those “Shut up, good problem to have” things, but I honestly don’t have a grip on it. I’ve been retired for 2.5 years and in 6 months, I’ll claim Social Security when I hit...
Tuesday, March 31 - Monday, April 06, 2026 Most Commented score comments title & link 182 128 comments Small adventures on the cheaper side 377 79 comments I've Been Retired For Three Years. It's Time...
When I claim SS my wife and I suddenly have another $5700 monthly coming in (mine+spousal). That WELL exceeds what we need to live on - even with a generous vacation budget. I'm thinking that at that ...
Paying taxes in retirement means managing income streams, quarterly deadlines, and the IRS safe harbor, without an employer doing it for you. The post How to Pay Taxes in Retirement and Avoid IRS Pena...
I just turned 65 so I will not have to start taking RMDs until I'm 75. Since IRMAA is based on income from 2 years prior, that means I won't get hit with IRMAA until I'm 77 (2 years after my RMDs star...
In this episode of the Retirement Answer Man, Roger Whitney explores the critical decision of when to claim Social Security benefits, weighing the pros and cons of taking them early versus delaying. T...
Including your housing wealth in your retirement plan can lead to higher lifetime income and a larger legacy than a plan based on selling the home for the cash.
Retiring in 8 months @ 60. I think I can provide us the gains a 60/40 gives but make it feel like a 3 bucket safety net - sort of a hybrid of the two: - 2-3 years in cash equivalent (money market/CD l...
Capital gains tax can cost more than you expect when investment profits stack on top of ordinary income. Here’s how to plan around it. The post Capital Gains Tax Brackets: How Income Pushes Your Rate ...
The Social Security provisional income threshold can create a "tax torpedo" for disciplined savers, raising your effective marginal tax rate to 40.7% or more.
Increasing longevity means you could outlive the money you've saved for retirement. Social Security may not bridge the gap, but an income annuity could help.
Brigadier General Michael Meese details the critical decisions military families must make before retirement. Transitioning into retirement is a major life change for anyone. But for military families...
Most people think retirement begins the day they turn in their notice. In reality, retirement begins much earlier than that. It begins the moment you stop depending on your employer for everything. In...
“Only live off the dividends. Never touch the principal.” It sounds responsible. It feels safe. It may be one of the riskiest retirement strategies out there. In this episode, James breaks down why bu...
From municipal bonds to Roth conversions — take our quiz to find out if you know which income streams push you into higher Medicare brackets.
“The 1%” sounds like an abstraction. It’s something economists argue about on cable news. But if you’re a physician, you ... Read more
Doctors spend a decade in training to earn a high income…only to turn around and spend the next three decades ... Read more
What are Passive Income Generators (PIGs) and Passive Activity Losses (PALs), and how do they interact with each other on your tax bill? The post Using Passive Income Generators (PIGs) to Offset Passi...
How do you turn decades of hard-won savings into a steady stream of income for the rest of your life? These funds may help.
James Choi’s investing model suggests your stock allocation should depend on income, savings, and future earnings, not just age. The post How Much in Stocks? A Yale Formula Rethinks Allocation Rules a...
Jeremy Keil explains how putting your cash in the wrong spot could prevent you from earning thousands in interest during your retirement. Many retirees spend a lot of time thinking about how to get be...
Author Ethan Lohr shares how the four buckets retirement income strategy helps retirees behavior-proof their retirement. Many retirees face one similar problem that they struggle to name: the emotiona...
I’ve been trying to wrap my head around how the recent legislation could affect retirement income, especially when it comes to taxes, Medicare premiums, and withdrawals. A few things I keep coming bac...
A conversation with Bill Bengen—the creator of the 4% rule—to discuss how retirement strategies have evolved, what high-income professionals should be thinking about now, and his current recommendatio...
Don't just set and forget your 401(k). Creating a plan for investments, income and health care ensures your balance translates into lifelong financial security.
After a colourful career in high-tech/telecoms, I realized it was time to retire when I was suddenly reporting to a 22 year old who knew less about technology than the cashier at a dollar store, place...
With enhanced ACA subsidies gone, even a small income mistake can cost clients thousands.
An annuity is basically you telling your money: “Stop wandering around and pay me like rent every month.” And your money says, “Okay, fine,” and does it. ? The Three Types (Explained Like Family Membe...
Join us as we continue our "Anchors of Retirement Confidence" series, where we discuss four areas of retirement uncertainty plus strategies designed to replace your anxiety with clarity and control. I...
The Rule of 55 allows certain workers to take penalty-free withdrawals from a 401(k) or 403(b) if they leave their job in or after the year they turn 55. Income taxes still apply, and the funds must r...
Joe Anderson, CFP® and Big Al Clopine, CPA focus on Social Security claiming strategies as part of the retirement spitballs, today on Your Money, Your Wealth® podcast number 574. Bijou Plutus and her ...
Trump’s retirement plan and the RSAA aim to fix the coverage gap for 69 million workers, countering AEI’s concerns about Medicaid, SSI and low-income retirement security.
Instead of worrying about the markets and running out of money in retirement, you might consider buying an annuity that guarantees you a lifetime income.
Middle- and lower-income retirees face a growing gap between income and long-term care expenses, forcing advisors to rethink planning strategies.
A well-intentioned tax move can push retirees over a Medicare income threshold, leading to thousands in unexpected annual premiums. Here's how advisors avoid these costs.
From spousal and child benefits to taxes and timing, these 20 lesser-known Social Security rules can significantly impact your retirement income.
For physicians, the conversation about 1099 income and micro-corporations is about professional autonomy and financial acceleration. The post Should Physicians Form ‘Micro-Corporations?’ appeared firs...
We are one step closer to make retirement official, we have filed for our Social Security benefits! Now I'm curious - the literature we received in the mail suggested voluntary withholding on our bene...
Combining a QLAC with a HECM can help mass affluent retirees secure guaranteed lifetime income, tax advantages and liquid savings to cover late-in-life expenses.
? Show Notes Wade Pfau, author of The Retirement Planning Guidebook and creator of the Retirement Income Style Awareness (RISA®) assessment joins Roger for a wide-ranging conversation on the big quest...
If you’re earning 1099 income, you likely aren’t spoiled for choice in the retirement savings department. When it comes to ... Read more
The Actuarial Approach: Employs an easy-to-understand and robust financial metric (Household Funded Status) Permits adoption of easy-to-implement guardrails that suggest future spending changes Uses b...
62 year old Canadian here. I'm currently in a situation where I am living on 1/2 my take-home pay so am slamming every other cent into savings. Theoretically in about a 1 1/2 years I should be able to...