Imagine a world where your healthcare dollars work as hard as you do, where every penny you save for medical needs gets a superhero cape, flying tax-free, growing in strength, and always…
Tag: taxes
Biden’s Simple Plan to Improve Social Security
Social Security is in jeopardy. Many know it, including the program’s trustees, who recently stated that Social Security would become bankrupt one year earlier than predicted.
Here Is Why Estate Planning Is Essential To Retirement
Estate planning is the process of arranging and preparing for the distribution of a person’s assets and property after their death. It involves creating a plan to manage and distribute a person’s assets to ensure their wishes are carried out, minimize taxes and probate costs, and provide for their loved ones.
Here Are Three Reasons Why Your Retirement Income May Be Lower Than Expected
When planning and preparing for retirement, estimating how much money you will need to maintain your desired lifestyle seems crucial. Thus, you might choose a strategy that enables you to reach your financial objectives.
Here Is How A Part-Time Job Might Affect The Income Of A Retiree
Obtaining a second job to supplement income might have unexpected surprises. Seniors in the United States face a double whammy. Inflation has diminished their purchasing power, and this past year’s terrible stock market has significantly diminished their retirement savings. Since the beginning of the year, individual retirement savings and 401(k)s have lost a total of $3,3 trillion in value, according to the Boston College Center for Retirement Research.
Here Are 5 Tax-Smart Strategies For Charitable Giving For Retirees
There is still time to do well by doing good this year, and there are still tax benefits available to retirees who make charitable contributions. Act quickly, though!
There is usually a year-end interest in donating to charity; this motivation does not always disappear upon retirement. Let’s discuss some tax-intelligent ways for charitable contributions by retirees.
How to Prepare for 2023
2022 is drawing to a close, so it’s time to prepare financially for 2023. This year was challenging for many across the nation. As the markets plummeted, households faced inflation-driven budget cuts, and savings dwindled.
How To Stop Taxes From Harming Your Retirement Goals
When people consider retirement planning, they often prioritize saving and investing so they can retire with a comfortable nest egg. And that is an excellent starting point. However, it is equally essential to consider how taxes will impact your retirement funds and any other sources of income you may rely on after you reach retirement age.
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).
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.
