About 10,000 Americans turn 65 every day, and though everyone's financial situation is different, that means that millions of people are getting ready to retire each year. But according to a recent survey, many are not confident … [Read more...]
Retiree Confidence Is the Lowest in 15 Years! How You Can Plan Ahead for Retirement and Long-Term Care
There are Downsides to Delaying Required Minimum Distributions (RMDs)
Q. A few weeks ago, you wrote about SECURE 2.0 and some of the impactful provisions of the new law. Among them, you mentioned how the age when Required Minimum Distributions (RMDs) would need to start has increased to 73 for … [Read more...]
SECURE 2.0: The Biggest Changes for Retirement Savings in 15 Years!
Q. I heard that SECURE 2.0 was recently passed. It supposedly has provisions that make it easier to set aside money for unexpected emergency expenses. I also heard that it will not only help people avoid a short-term money … [Read more...]
Tens of Billions of Dollars of Benefits for Seniors Are Going Unused Every Year
Q. Inflation has gotten bad, and my wife and I have had to dip into our savings more than ever for food and other necessities. What are some ways you suggest to deal with the situation? Are there any benefits we might not be aware … [Read more...]
The Four Phases of Retirement and Leaving a Legacy
Dr. Ken Dychtwald, CEO and founder of Age Wave, is a researcher on aging and financial habits in America, author of 18 books, and one of the world’s foremost experts and visionary thinkers regarding aging and longevity. In some of … [Read more...]
Avoiding the Most Common Retirement Mistakes
Q. My wife and I are on target to retire in five years. We want to make sure we don’t make any major mistakes along the way. What, in your opinion, are some of the most common retirement mistakes and how can we avoid them? Thanks … [Read more...]
What Happens When You Inherit an IRA from a Non-Spouse?
Marty’s brother, Ed, passed away suddenly. He never got married or had children, so he passed everything, including his Individual Retirement Account (IRA), to Marty. During one of the most difficult times in his life, while … [Read more...]
After the Covid-19 Pandemic—How It Has Impacted Retirement
Jane and Steve were planning on retiring in five years. Now, a year after the COVID-19 pandemic, those plans have changed. When Steve’s business wasn’t doing well this past year, they couldn’t contribute to their retirement … [Read more...]
Are RMDs Back This Year or Will They Be Waived Again?
Q. I turned 70 in November 2019. I was planning on taking my first required minimum distribution (RMD) in May 2020 (when I turned 70½) until the government waived 2020 RMDs. Is my first RMD now due by May 2021? What about my wife, … [Read more...]
How the Pandemic has Reshaped the Way We Look at Retirement
Q. My husband and I have been working for nearly 35 years each and are due to retire in the next few years, but things seem uncertain for everyone now. My understanding is that the pandemic has added new challenges to the … [Read more...]