Retirement expert explains how to avoid common planning mistakes
Listen and subscribe to Decoding Retirement on Apple Podcasts, Spotify, or wherever you find your favorite podcasts. When planning for the future, people often get caught up in short-term news rather than focusing on the long-term strategy, even though retirement planning can stretch across decades. And that’s just one of several mistakes those saving for […]
How To Plan Your Retirement For A Life Of Travel
How can you craft a retirement plan that supports a travel lifestyle? (Photo by Robert Alexander) Getty Images Retirement often feels like the light at the end of the tunnel — a time to relax, enjoy life, and finally pursue the dreams that were put on hold during the busy years of work and family […]
There’s a big inherited IRA change in 2025. How to avoid a penalty
Greg Hinsdale | The Image Bank | Getty Images Inheriting an individual retirement account is a windfall for many investors. However, a lesser-known change for 2025 could trigger a costly surprise penalty, financial experts say. Starting in 2025, certain heirs with inherited IRAs must take yearly required withdrawals while emptying accounts over 10 years, known […]
How to prepare for an unexpected retirement
Federal employees who are planning for retirement have a multitude of questions that need to be addressed so that they can prepare for a smooth transition and a financially secure life after retirement. Today, I am going to share a question-and-answer session I recently had with an employee who is worried about her future employment […]
Here’s how to maximize your 401(k) plan for 2025 with higher limits
Lordhenrivoton | E+ | Getty Images If you’re eager to save more for retirement, you could be overlooking ways to maximize your 401(k) plan, including key changes for 2025. Some 40% of Americans are behind on retirement planning and savings, according to a CNBC poll conducted by SurveyMonkey, which polled 6,657 U.S. adults in August. […]
How to become rich: 8 smart money moves to boost your finances in 2025
How to become rich: Anyone can become rich; all it takes is knowing how to increase your wealth and be consistent. You can see your wealth increase over time by making wise investments, managing your money well, and consistently reinvesting your money. Developing wise financial practices as we move into 2025 might be necessary for […]
Here’s how to retire a millionaire, according to finance pros
Goran Babic | E+ | Getty Images Building a $1 million nest egg may seem an impossible feat. However, amassing such retirement wealth is within reach for almost anyone — provided they take certain steps, financial advisors say. “You might think that, ‘Well, I have to become a Silicon Valley entrepreneur to become rich,’” said […]
Here’s how to pay for taxes on your Roth IRA conversion, advisors say
Srdjanpav | E+ | Getty Images More from FA Playbook: Here’s a look at other stories impacting the financial advisor business. When a Roth conversion is completed, you’ll owe regular income taxes on the converted balance, based on your current-year taxable income. Ideally, you’re “managing the tax bracket,” said CFP Jim Guarino, managing director at […]
Want regular pension after retirement? How to choose the right annuity plan
An annuity is an agreement between two parties wherein the insurer agrees to make a series of payments at regular intervals of time to the annuity … Source link
How to leverage higher income limits for the 0% capital gains bracket
dowell | Moment | Getty Images The earnings limit for the 0% capital gains bracket will rise in 2025, which could offer tax planning opportunities, financial experts say. At sale, profitable assets owned for more than one year qualify for lower taxes — known as long-term capital gains. Those rates are 0%, 15% or 20%, […]