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For many investors entering their 70s, diligently contributing to and saving in tax-deferred retirement accounts must soon turn to making mandatory annual withdrawals. That’s because the government requires retirees to take required minimum distributions (RMDs) from such accounts after a certain age. Retirees may find RMDs to be a bit daunting, partly because of the […]

An interesting study performed by the Center for Retirement Research at Boston College delved into the concept of lifespan variation, and why it provides valuable information about mortality beyond life expectancy. “It is precisely this uncertainty around the average lifespan that gives rise to “longevity risk” – the possibility of living an unusually long time

Are you the kind of person who likes to make lists? You might see the use in this list of “five easy steps for financial fitness.” #1 Create a budget; #2 Manage your debt; #3 Create a plan that keeps you disciplined in all kinds of markets; #4 Prepare for the unexpected; and #5 Protect

All too often when we need to find an important financial document we can’t remember where we put it. Keeping important documents up to date and accessible is essential. Even after you finalize your will and have decided what your financial plans are, there is one more important step to take: organizing those documents, having

No, you’re probably not imagining it. 69% percent of Americans surveyed by Lending Tree in 2023 reported they’d paid an extra fee when using a credit card for a purchase. A smaller, more recent survey by WalletHub put that figure at 79%, with 85% of the participants saying that credit card charges made them feel

Have you heard this phrase? It is often used to refer to the anxiety and stress that people feel in the years leading up to retirement. While it is common to feel a sense of stress with any major change, many feel a higher level of anxiety as they approach retirement due to the various

At this time of year there tends to be discussion about what our New Year’s resolution will be. Researchers suggest that only 9% of Americans that make resolutions complete them. In fact, research goes on to show that 23% of people quit their resolutions by the end of the first week, and 88% fail them

It is important to think about your risk/reward ratio tolerance–terms like “conservative” and “risky” can mean different things to different people which is why it is necessary to think it through. This way, you can also get a feel for what level of risk is necessary to try to obtain a return on your investment,

Conversions of a traditional IRA to a Roth can differ individual to individual, even where the same sum of money is involved. Let’s take, for example, two individuals, each with $100,000 in a traditional IRA, that the funds were identically invested and would double over 10 years. The tax rate was posed to be 30%.

As year-end approaches, it might be a good time to reflect on if you are allocating funds to be sure to maximize your contributions to tax advantaged accounts. If you can, you should consider making your contributions sooner rather than later. Even though you have until year-end to make contributions to your 401(k), or Tax