Avoiding retirement nightmares key to senior investment strategiesRebecca Tonn
If you receive a distribution from a qualified retirement plan such as a 401(k), you need to consider whether to pay taxes now or to roll over the account to another tax-deferred plan. A correctly implemented rollover can avoid current taxes and allow the funds to continue accumulating tax ...
Understanding the nuances of quarterly estimated taxes can be complex, but it's essential for maintaining compliance with the IRS and avoiding financial setbacks. By staying organized and proactive in your approach to estimated tax payments, you can ensure a smoother tax season and better financial ...
When considering a late-year mutual fund purchase, it can be advantageous to make your investment after the fund's distribution eligibility date, thus avoiding the associated taxes. Fortunately, this isn't a problem for mutual fund investments made for tax-deferred accounts such as IRAs. 9Conside...
While some income in retirement is generally set — i.e.,Social Securityand/or apension— the key to avoiding IRMAAs is to focus on what income streams you can control, said certified financial planner Judson Meinhart, senior financial advisor and manager of financial planning for Parsec Financ...
especially over long time horizons. Risk aversion can also lead people to irrationally avoid otherwise good opportunities and stay away from the markets entirely, putting them at a disadvantage when saving for things like retirement. Moreover, money kept idle in savings or "under the mattress" wil...
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Avoiding the Worst-Case Scenario: Handling the First Ten Years to Reduce Your Risk How Does OAS and CPP Factor into Safe Withdrawal Rates? Emergencies or Tax Changes Conclusion The 4% Retirement Withdrawal Rule Ok, so let’s maybe start with the rule of thumb that advisors have used when lo...
Online surveys by Opinium Research on behalf of the IA showed just 1 in 10 UK pension holders over 55 were confident they were saving enough to live comfortably in retirement. Chris Cummings, Investment Association Chief Executive, said the UK had a culture of avoidi...
For Massachusetts residents, the exemption is now $2 million (as of January 1, 2023). This may affect your portability planning on income and estate taxes in an estate – see our post onusing the step up in basisfor planning ideas. ...