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Retirement

5 States That are Friendly to Retirees
January 16, 2023

Once you retire, you will no longer be tied to a particular location due to your job. Many of us choose a new location for retirement, based upon proximity to family, climate, lifestyle, and other factors that are important to us. Have you considered taxes? Once you’ve transitioned to your…

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RMD Rules Will Change This Year
January 9, 2023

For many years, qualified retirement accounts imposed a rule on required minimum distributions (RMDs), so that account holders must begin RMDs at age 70 ½. The SECURE Act changed that age to 72, giving retirees a bit more time to allow their assets to grow before taking withdrawals. Now, the…

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Social Security Beneficiaries Receive a COLA for 2023
November 14, 2022

We often caution our clients not to count on Social Security to provide all of their retirement income. But still, we acknowledge that the program does serve as a valuable supplement to other income that you’ve established for yourself. And because the cost of living does rise over time, the…

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The IRS Announces New Retirement Plan Contribution Limits
November 7, 2022

You’ve probably noticed that inflation has crept up in the last few years, and more of us are feeling the pinch in our budgets. That goes for retirees, too. And because the IRS recognizes that the cost of living changes throughout the years – for everyone, but especially impacting retirees…

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5 Types of Non-Taxable Retirement Income
October 17, 2022

The last thing anyone wants to receive is a surprise income tax bill. But when you’re retired, unexpected taxes can really disturb your budget. That’s why we advise clients to become aware of the income taxes they will likely face in their situations. But another way to deal with this…

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A Major Key to Managing Healthcare Costs in Retirement
October 3, 2022

For many retirees, healthcare becomes their largest expense. And that fact can come as an unpleasant surprise to retirees who expected Medicare to pay for most or everything that they need. Because your out-of-pocket spending on medical care can make a major dent in your budget, the right Medicare plan…

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Is a Reverse Mortgage a Good Idea?
September 12, 2022

As you eye your expected retirement date, you might still be investigating different ways to generate retirement income. You might have heard of reverse mortgages, and you’re wondering whether this could be a good option for you. The answer is, it depends upon your unique circumstances. First, what is a…

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Why Are So Many Retirees Going Back to Work?
July 18, 2022

As of March 2022, about 1.7 million retirees had rejoined the workforce. But why? What is causing this recent trend of “unretirement”? For one thing, it’s not that recent. Unretirement was happening even before the pandemic hit, mostly due to dissatisfaction with fixed incomes and the rising cost of living….

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Two Ways to Boost Retirement Savings: Which Do You Choose?
May 17, 2022

Many of us worry that we’re not doing enough to prepare for retirement, and know that we should be doing a bit more. At the very least, we want to max out our retirement plan contributions each year, and in many cases we want to do a bit more than…

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Ready to Retire? Check This List First
April 18, 2022

It’s normal to feel anxious to retire, but you don’t want to take that leap before you’re truly ready. Before setting a date, check this list for some of the more obvious signs that you need to tweak your retirement income plan. You haven’t calculated your retirement income. You aren’t…

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