There are ways to secure retirement income that allows you to maintain your living standard, live a lifetime, adapt to life events, and leave a legacy for your children even in difficult times.
Tag: IRA
No 401(k) No Problem, Here is how to Retire Comfortably Without One
There is no reason for alarm if you do not have access to a 401(k). However, you will need funds to supplement your Social Security benefit to retire comfortably unless you are one of the lucky few who are incredibly wealthy.
IRS Announces New Contribution Limits for Retirement Plans in 2023
Inflation is excellent news for those saving for retirement. At least for individuals seeking to maximize their contributions to retirement accounts such as a 401(k), conventional IRA, or 403(b), the following strategies are recommended (b).
How Much Should Retirees Have in an Emergency Fund?
An emergency fund is vital regardless of age, but it can be very costly in retirement. By having an emergency fund, you won’t have to use your IRA, 401(k), or other taxable…
New IRS Rule Affects Required Minimum Distributions
The government knows Americans live longer than they did a decade ago, which will be reflected in the required withdrawal amounts from retirement funds at various ages beginning in 2022.
Naming a Trust as a Beneficiary
It is advantageous to name a trust as a beneficiary if your beneficiaries are minors, have disabilities, or cannot be trusted with large sums of money. To avoid future estate tax issues, some attorneys also recommend establishing a special trust as an IRA beneficiary to prevent its assets from becoming part of a surviving spouse’s estate.
