Retirement planning is the process of determining how much you will need to save and invest in order to have enough money to live on during retirement. It involves setting goals, analyzing your current financial situation, and making a plan to help you reach your retirement goals.
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I am considering semi-retiring this year. I am 62. I own a business and plan to continue working part time. My business is a LLC (files taxes as an S Corp) and I pay myself through the company. Taxes ...
Decide now what you want to do with the family home after you are gone — and then write it down and update as necessary...
When deciding on the ideal place to retire, a little homework can spare you a lot of headaches...
From Alaska to Florida, America’s state and local governments have been pushing their workers out of pensions into 401(k)-type retirement plans—misleadingly claiming the retirement benefit...
It’s hard not to enjoy a good vacation… a chance to get away from the “same old” just for a little while. Traveling can be an opportunity to visit places you’ve never be...
It's always best to make sure you're prepared for retirement well before you get there. These four steps can help make sure you're ready....
In our last post, we indicated that there are several levers in the AFP that more conservative users can employ to reflect their lower tolerance for potential future spending reductions, including: Us...
The Corporate Transparency Act will affect many people and require reporting of entities that form the foundation of many estate plans....
Thanks to the SECURE 2.0 Act, you’ll soon be able to roll over funds from your 529 into a Roth IRA, as long as certain conditions are met. Here’s what you need to know about the new change...
I am looking to enroll in one to begin in April this year. I am currently looking at Optimum HealthCare, Inc. | Plan ID: H5594-002-0 but am seeing mixed reviews all over the place. I have medical issu...
Planning to retire within 5 years. I live in an LA-area house that’s fully paid off. Looking to downsize then by buying a cheaper and smaller house, perhaps in southern OC or SD, and one in PHX....
I'm amazed not to have read the following anywhere while planning retirement, so I thought I'd alert others to how delayed credits work. As you all know, your benefit is increased by 1/12 of 8% (2/3%)...
Yesterday as we were delivering Meals on Wheels to so many who can barely make it to the door, I asked my husband what his plan was for when he can’t drive anymore and for when we are shuffling ...
In our post of July 23, 2020 entitled, “How to Fix Advisor Retirement Planning Models,” we summarized some of the problems with commonly used Monte Carlo approaches used by financial advis...
Know the long-term effects before choosing a plan....
Should you work with an attorney to write your will, or can you do it yourself? That depends on a number of things, including where you live....
This article proposes that, as a way to encourage consumers to save for retirement, banks offer a new type of savings account that has retirement plan features, the demand for which, unlike existing s...
I understand being financially prepared and having that plan in place, I am having a hard time getting my brain to accept that I don’t need to work my ass off to seek promotion or new responsibi...
I had kids late. All 3 are under 14 so things are tight but I'm trying to prepare for retirement for my wife and I but don't know where to start. Everything I've read elsewhere seems to lead me to "WH...
"This has been more helpful than couples therapy!" is something that good financial advisors will inevitably hear in their work with couples....
I am 30yo and just recently started getting active in planning for retirement. I had about 14k from a previous 401k that I transferred to a a Fidelity account. I set it for Auto management and it is b...
I'm currently 31. Planning to retire at 55. I work for my county government. As such. We are part of the state pension plan. If my income trends stay about how they've went. I'm looking at making appr...
As someone who is planning to buy a new car by 2025, I’m having second thoughts. With the average new car price at almost $50,000, it seems like only the rich can buy new cars today! Think about...
Your optimism or pessimism about our politicians’ courage to shore up Social Security benefits could influence your claiming strategy, depending on your situation....
I get invites for a free dinner to listen to lawyers tell me how to protect my wealth on the reg. Is anything gained from attending these other than the meal and being scared into paying a lawyer a lo...
Given inflation, rising interest rates and a possible recession, how can near-retirees feel confident that their planning will ensure a fun and secure retirement?...
Paying for college is expensive, which is why college financial planning should really begin as soon as each child is born. But, let’s be honest. Sometimes life gets in the way, and, before you ...
When you do a direct rollover from the pre-tax account in a workplace retirement plan to a Traditional IRA, you’ll get a 1099-R form after the end of the year that shows the rollover isn’t...
Hubby 75 still working 9 months a year; I’m 62 are now work part time. Expect him to fully retire in 3-5 years. We are fairly set financially- both have state pensions, 401ks and SS (not me yet....
Do you think you could pass a basic quiz about planning for retirement? You might be surprised to learn that in a recent study…Only 33% of Americans got a passing grade. Put your knowledge to t...
My son started his first real post-college job at a small employer (< 50) who contracts with Blue Star Retirement to handle their 401k plan. He doesn't know anything about investing and so he just ...
I'm a canadian in my mid 20's. Since the past 2 years, I used the services of a financial advisor who works for an independant private financial service group. All of my investments are currently in m...
Hi guys, I was recently hired by a company and they have a retirement plan. This is my first job with this "benefit " and I don't really know anything about contributions or how the pension plan works...
No family is exactly like another, so here are some considerations to help you decide which distribution strategy best suits your situation, values and goals....
Having legal documents in order and planning for the cost of care will help make an already difficult time a little bit easier to handle....
What is a retirement tool I should be using to help plan for the future? I am 28yo and would like a tool that takes into account my income, retirement accounts, owned properties etc. Maybe something t...
Hubby turning 65 this year… for the past many years he has only had VA health benefits.. 100% coverage. He is in great health, his mom lived to 91, he plays tennis 4 times a week, walks several...
Click here to download the transcript of Todd's best tips for epochal change! Free Instant Access Two years ago, I announced to my Expectancy Wealth Planning course community that we were about to ent...
As you grow older, do you care less about money? I'm middle class and I'm still working but plan to retire in 10 years. I'm comfortable but not rich. My point of view is that I can't take the money wi...
Not to get too niche, and with full respect to all here, but I see so many posts about planning for retirement and watching grandchildren, or spousal benefits, or others that assume a heteronormative,...
I recently started a new job that offers a vanguard retirement plan. I set my contributions from my pay to 10% for every biweekly check I get. “Your employer matches 125%of your contributions be...
Nontraditional financial planning model allows you to pay for the expenses you incur between now and retirement — the middle of your life — without losing the ability to build wealth....
Designing a strategy to efficiently use your retirement savings is a critical step on your retirement planning journey to maximize your income and ensure a long-lasting retirement....
It’s all about perspective. Hopefully, you learned that your financial plan can withstand market downturns. If not, now you know you need to make adjustments....
For the sliver of retirees who are far behind in paying their own or their children’s student loans, Social Security can withhold part of their benefits to pay the loans back. But college has go...
My employer allows me to contribute $22,500 and matches the same amount to my 403(b) plan. However, the IRS website shows that the maximum contribution is $66,000. My question is what makes up that di...
I just recently turned 55 and plan to retire at a fairly standard age of 65. Being the project manager that I am, I just started to think about "project managing" my countdown to retirement - which in...
I'm planning to retire this year at 55. And would appreciate any feedback/suggestions on how I'm planning for it. Interest only Mortgage of 100k at 2% fixed for 5 years remaining. 700k pension - will ...
I recently joined a committee at my company that is responsible for creating a new 401(k) plan. In our initial meeting we discussed terms around auto enrollment, plan loans, and Roth conversions. What...
I'm 63 and plan to retire in a month. In my life I have had many different self-images: as an athlete, a student, a soldier, a worker, husband, father. It didn't matter that I wasn't particularly good...