How to incentivize your kid to start investing for retirement
Momo Productions | Stone | Getty Images Once you’ve decided that opening a Roth individual retirement account for your child is a great idea, now comes the hard part: convincing the child to save for a far-off retirement instead of spending that hard-earned money. I have some ideas for making the case to your child. […]
How to invest in bonds amid falling interest rates
Lucy Lambriex | Stone | Getty Images As the Federal Reserve cuts interest rates, investors should review their bond portfolio, which could see a boost from dovish Fed policy. The central bank in September kicked off its first easing campaign in four years with a 50 basis point rate cut, which brought its benchmark rate […]
Retirement planning: How to get Rs 1 lakh monthly pension after retirement; check investment planning, calculation
How can a senior citizen earn a regular pension of Rs 1 lakh every month after retirement? A common question that is often asked by those who are about to retire. While investing your hard-earned money, you need to plan well and consider multiple factors — inflation, your risk appetite, how much return it will […]
Here’s how to reduce a ‘tax bomb’ on an inherited IRA
Greg Hinsdale | The Image Bank | Getty Images If you’ve inherited a pretax individual retirement account since 2020, you could face a sizable tax bill without proper planning, experts say. Previously, heirs could take inherited IRA withdrawals over their lifetime, known as the “stretch IRA.” However, the Secure Act of 2019 enacted the “10-year […]
What ‘No Spend September’ is and how to know if you should participate
Solstock | E+ | Getty Images Victoria Szafarski currently has $10,000 in credit card debt. The New Yorker’s outstanding balance peaked at $25,000 last year, before she took on a second job as a waitress for a few months. The extra cash Szafarski brought in helped her make headway paying down the debt and increase […]
From young investor to seasoned pro: How to evolve your strategy with life’s changes
As you move through the various stages of life, your financial needs, goals, and risk tolerance naturally change—just like the terrain you’re driving through. What worked for you in your 20s might not be the best approach in your 50s. That’s where life cycle investing comes in. It’s a strategy that adapts your asset allocation […]
How to use required minimum distributions to improve your portfolio
Richard Drury | Digitalvision | Getty Images After funneling money into pretax retirement accounts, you will eventually face mandatory withdrawals in retirement known as required minimum distributions, or RMDs. Since RMDs can trigger higher taxes, the withdrawals can be a nuisance for some retirees who do not need the money. But the yearly activity could […]
Retirement Planning: How to achieve early retirement bliss? A step-by-step guide
Early retirement can indeed be a cherished goal for many individuals, despite the challenges that may accompany its pursuit. Early retirement necessitates accumulating enough savings to sustain oneself potentially for decades, demanding considerable financial discipline and sacrifices, particularly for those early in their careers. Also, medical expenses can significantly deplete retirement savings, especially in the […]
How to use the ‘Bucket Strategy’ to optimize your retirement savings
You’ve finally reached the retirement date that’s been circled on the calendar for the past 5 years. You’ve done everything you’re supposed to do and have accrued a nice pension, a plan for social security, and a healthy balance in your Thrift Savings Plan, or other investment accounts. Maybe you’ve even done some tax planning […]
How to decide on your retirement corpus
I work in the IT industry and have plans to retire in the next 10 years. I have already planned for my daughter’s education expenses and kept ₹50 lakh aside for this. At present, this amount looks good based on her education plans. I have invested in two properties that are valued at ₹1.2 crore […]