In the article below, Sandra Block provides a succinct breakdown of the tax consequences people face when it comes to tapping retirement income. One thing I’ve often advised is to make sure to have diversified sources of income, as this makes your ability to plan for taxes in retirement more flexible. Roth IRAs, taxable brokerage accounts, 401(k)s – don’t be afraid to sock money away in all of these if you have the ability...

Here in the Bay Area, we constantly bemoan the fact that the cost of living is so high relative to other parts of the country. That fact was quantified last week by the Tax Foundation. An article originally posted by Mandi Woodruff succinctly summarizes the findings. I though readers would find it to be interesting pieces of data...

Last week I posted the chart below regarding how much of a nest egg you would accumulate at various savings rates ranging from 5% to 20% and with different start dates for saving, ranging from age 30 to age 50. As was expected, the higher the savings rate and the earlier the start time, the more money you would likely accumulate...

The national personal saving rate is less than 5%, according to the Federal Reserve Bank of St. Louis — and that’s just not enough. Putting away even 5% of income each year in hopes of building a sufficient retirement portfolio won’t get the job done, even if people start saving for retirement as early as 30...