Nobody wants to pay taxes, least of all retirees who often don't have a lot of money to begin with. As a retiree on a fixed income, it's natural to want to hang onto every penny you get your hands on, and the idea of forking over even a small amount of your income to taxes might seem like a major blow. But if you prepare for what's ahead and make a few strategic decisions, you could lower your taxes and keep more of that money for yourself....
Estimating your Retirement Cash Flow Needs
Medicare Open Enrollment Season Approaching
October is a key planning month for retirement. Very soon, we will be learning whether the government’s calculated inflation number budged enough year-over-year to trigger a cost of living adjustment for next year’s Social Security benefits. This number also influences whether or not there will be an increase in retirement plan contribution limits in 2017. But first up is the kickoff to Medicare open enrollment season....
No 401(k) plan? States offer a new solution
Last week, California joined Washington and 6 other states by requiring employers that do not offer a retirement plan to sign up their employees to a state-run IRA account. With this legislation, about 7 million workers in the private sector will be automatically enrolled into the state-sponsored retirement plan....