Because federal tax law reaches deep into all aspects of our lives, it’s no surprise that the rules that affect us change as our lives change. This can present opportunities to save or create costly pitfalls to avoid. Being alert to the rolling changes that come at various life stages is the key to holding down your tax bill to the legal minimum. Check out these issues that face the newly retired.
Estate Planning and Retirement
If you’ve done everything right, estate planning will be an issue that needs addressing. With proper planning and flexibility during retirement odds are in your favor that there will be something left to pass along to whoever you see fit to leave a legacy to. However estate planning goes beyond deciding your beneficiaries, though this is one of the major considerations...
Your Retirement Plan - the Basics in Running the Numbers
When it comes time to figure out if you are prepared to take the plunge into retirement, the best way to test your preparedness is to run a retirement “numbers” analysis. Put simply this means calculating if your expected income during retirement can meet your expense needs through your lifetime. The problem lies in figuring out what numbers to use in your run so it is helpful in determining if you can afford to retire....
Risk Tolerance vs. Risk Capacity – the Very Important Difference
Given the way the year has started, there are many out there wondering what, if anything, they should be doing with their investments. Should they be selling and parking proceeds in cash? Should they be buying because everything is much cheaper than it was 2 months ago? Should they be doing nothing at all?...