When transferring retirement accounts, the question of which is best: direct or indirect is a common one. The IRS lays out the rules on how to accomplish both options. Violating those rules will cost you money in taxes, penalties, and loss of growth of these assets. I write and answer investor questions for Investopedia because they try to keep things simple. The goal … [Read more...] about When Transferring Retirement Accounts Which is Best – Direct or Indirect Rollover?
Americans are living longer than ever. The following life expectancy study from the Brookings Institute illustrates this point. For married couples, there is an 88% chance that one will live to age 80, and a 45% chance that one will live to age 90. Living longer requires our money to last longer. Outliving our money is one of the biggest fears for those planning for … [Read more...] about Five Ways to Make Retirement Assets Last Longer
Social Security recently announced the changes to 2018 benefits. The cost of living adjustment (COLA) will be 2.0% for 2018. That's the largest since 2012. In July, the Social Security Board of Trustees estimated a 2.2% COLA for 2018. The Social Security Administration says that COLA increase applies to over 65 million recipients. Sadly, for 70% of those consumers, the … [Read more...] about 2018 Social Security COLAs Announced
When thinking about retirement, we need to also think about more than just money. Where will you be living? What will you be doing? How will you spend your time? In retirement, these are just as important as thinking about your money. In fact, not having a plan for how you will spend your time may be the one thing that can derail your retirement. Managing Your Time No … [Read more...] about Retirement Planning is About More Than Just Money
What does "retirement readiness" actually mean?How do you define retirement readiness? A recent Confidence Survey (RCS) showed that two-thirds of working Americans reported that they are confident or somewhat confident they have saved money for retirement. More than half of those workers have less than $25,000 in total savings and investments (excluding home and defined … [Read more...] about How Do You Define Retirement Readiness?