I’m a strong believer that a couple that budgets together, stays together. Because money can be the most contentious topic that couples have to deal with, why not put it all out in the open? Making decisions regarding money shouldn’t ever be one-sided, both parties should be involved, and there should be clear communication. When […]
Category: Retirement
What President Obama’s New Retirement Proposal Entails
Changes that President Obama will propose to employer-sponsored retirement plans could help 30 million American workers have access to retirement savings. In the announcement on Monday, president Obama proposed, in his new 2017 budget, rules that would make it easier for small businesses to join together to form 401(k) retirement plans for their workers, even […]
The Simple Math: How Much Does Someone Really Need to Retire?
Ok, honestly? Saving for retirement is sometimes tough to get excited about. It’s so very far away, and it feels like a slow uphill climb. And it seems that no one can ever seem to tell you how much you actually need to save. But the fact is, we NEED to plan for it, we […]
Good News for State Retirement Savings Initiatives
At any moment in time, less than half of private sector workers (ages 25-64) participate in any form of employer-sponsored retirement plan. The lack of universal coverage means that many workers move in and out of participating in a plan and a significant fraction will end up with nothing at retirement beyond Social Security. And […]
Your Big Question About IRA Distributions and Social Security Benefits
Q: Is the income I receive from my IRA distribution included in the calculation that determines how much of my social security benefits will be taxed? A: Generally, yes. If the IRA distribution you receive is taxable, like with a traditional IRA, and not a return of your previous non-deductible contributions, it will be included […]
Does Anything Change for Your Retirement After Marriage?
It’s no secret that married couples in the US are eligible for a variety of nuptial benefits, like tax breaks, deductions, estate planning, and so on. But what most people don’t know if that there are retirement benefits as well, and some that single retirement savers are not eligible for. What those benefits are differ […]
Here are the Stats: Why You Should Start Retirement Planning Today
According to the 2014 Survey of Household Economics and Decisionmaking, conducted by the Federal Reserve, American’s are very ill-prepared for retirement. A whopping 38% of the more than 5,800 respondents answered that they had no intention of retiring, or planned to work for as long as possible. 31% of non-retirees had no retirement savings or […]
The Right Way to Take Your IRA Withdrawals
What most workers are thinking about before retirement is what’s happening now, in their day-to-day lives. What some of those working towards retirement don’t think about often enough is after retirement. The process, the questions, the uncertainty. But Donna Rosato at Time (found on Twitter at @RosatoDonna) has written about that very topic in a […]
What’s Holding Americans Back From Saving for Retirement?
The truth is, for most American workers, saving for retirement just isn’t a priority, and because of that, a huge majority of us have fallen way behind on where we need to be in order to be ready at retirement age. What’s even harder to swallow is that it appears as if the trend is […]
Biggest Retirement Mistakes That Can be Easily Avoided
You’ve probably heard it all over the news lately, that people nowadays, of all ages, are simply not saving enough — if any — for retirement. Earlier this week, we talked about President Obama’s retirement plan called “myRA” and with tools such as a myRA, there’s hardly a reason not to get your head on […]