Retirement

I will need to apply for Medicare and have been studying up on the tax implications. I’m realizing that I need to find a good tax specialist in retirement. Anyone have any referrals, preferably a specialist who is knowledgeable about Medicare tax laws. I have read not all financial advisors are familiar with tax laws on Medicare. Between inflation, Covid-19, increasing taxes, increasing Medicare costs, National debt, I believe that without serious planning, it’s going to be rough on retirees...Read More...

Rеtіrеmеnt рlаnnіng is rеаllу a соmbіnаtіоn оf аrt аnd ѕсіеnсе. Yоu can рlаn fоr an аnnuаl rеtіrеmеnt income thаt you would lіkе tо ѕее in your retirement уеаrѕ - реrhарѕ something thаt is at least thе income thаt you еаrn now оr a реrсеntаgе оf уоur сurrеnt income. You'll аlѕо wаnt tо еѕtіmаtе уоur еxресtеd rеtіrеmеnt expenses аnd mаkе ѕurе уоu рrоtесt уоur rеtіrеmеnt savings аgаіnѕt inflation. Yоu'll wаnt tо plan for lоngеr lіfе to avoid runnіng out оf іnсоmе durіng your rеtіrеmеnt уеаrѕ...Read More...

Hello - I have enough savings to pay off my mortgage and wondering if I should do so? I have no real tax deductions otherwise. Have about $45k to pay off. I will probably be selling and moving in 2-3 years so not sure if worth it to do. Thanks! SusanRead More...

Which is better a Traditional IRA or 403B?Read More...

Hello, This book really broke down how to actively get involved in my own retirement planning. It's a great resource for me now and as well one I know i can rely on in the future. https://juliejason.com/books/retire-securelyRead More...

From 18 to 26, save $200. A month. Then don't touch it until age 65. You should have over $1.6 million. If you didn't start until age 26, and saved $200, per month until age 65, you would only have $1.3 million, after saving all those years! This is "The Time Value of money".Read More...

What needs to be considered when deciding between a ROTH or Traditional IRA account?Read More...

I will be 71 in June but have not applied for the above benefits yet. How do I do this nowRead More...

I am a retirement specialist serving school districts in Florida. I want to encourage all school district and state employees to please be aware of your state's retirement program basics. We speak to many of the teachers and staff and find that they are not aware that their pension is partial. They are unaware of the impact of beneficiary choices. DROP is not for everyone so before you sign up please reach out to me. Unfortunately, many feel that variable 403b's and retirement accounts are...Read More...

The F.I.R.E is on FIRE. https://www.cnbc.com/2019/03/01/more-workers-are-looking-to-retire-early-a-look-inside-the-fire-movement.html Would love to hear from any of you who are pursuing a strategy to retire early. Teach me your ways!Read More...

I have searched for this answer on several sites and not had any luck. You all are awesome with good, honest and timely answers so I know this is the place to find out my answer. Most people ask about saving for retirement questions about how much money they need to retire and live comfortably because when they retire so does their income they are accustomed to living on. Since most people will not make 100% of their normal monthly income, they need to know " How much money do I need in...Read More...

I am thinking I would like to pay off my mortgage and save the interset which now is at 4.875% interest portion is at $230 a month. I asked my financial advisor and she ran the numbers and said yes. Then she called me back and said not to pay it off and to invest it. I plan on only working two years or so before I retire. I am now 68. I still feel that paying off the mortgage would be better and I could continue to save.the extra 1000 a month. I am not sure what to do now... What is the best...Read More...

Oh Yeah! What you have saved for an emergency backup fund may not be enough of a cushion. But you are retired now on Social Security! T.P.H. articles on Side Gigs are great but now info is needed for careful planning when juggling Social Security, the IRS, and State income tax such as New Mexico. Could really use help in this area.Read More...

What schools in CT waive tuition.Read More...

Hello Community! I currently work two jobs, full time for State Government and Part Time for a retail store. I am enrolled in a 401a retirement account with my full time job and a 401k account with my part time job. Could any of you explain the difference of these two? Especially with Regards to my taxable income amount.Read More...

looking for schools for seniors with low or no tuition.Read More...

Where can I find the list of cooperating institutions for free tuition?Read More...

Happy Friday! Whew! Where has this week gone? Here’s your weekly round up of announcements to get you through today and into the weekend... We’ve crowned our November Member of the Month. Join me in congratulating Lisa Acu ñ a (@lismox) for being selected this month’s winner! We all appreciate your help around here, Lisa. Each month we look to crown a new winner. We’re looking for someone who is super helpful and active in the community. Each winner receives a $25 gift...Read More...

Is there free tuition for seniors?Read More...

My husband and I both have retirement accounts: 401K's, Roth IRA, Gold IRA. We are in a good place financially but have a lot of questions. Where to put our retirement dollars! The Gold has lost 33% of it's value in the last 10 years. The 401K's have lost approximately $1000. per month for the last 18 months. The only one seemingly promising is the Roth IRA. What to do? Put all eggs in one basket or keep diversifying? I'm to the point of putting all my money under the mattress!Read More...

We’ve made it to the end of the week and the start of a new month Penny Hoarders! Who here can’t believe it’s already November? 😳 This week I want to know if you’re a planner or a procrastinator… Do you start planning and budgeting now for holiday purchases or wait until the last minute? What about your New Year’s resolutions? And now for this week’s announcements… We just hit a HUGE milestone Penny Hoarders… 10,000 community members! Join us in a celebratory happy dance, then go check out...Read More...

I am getting some money after the house sells. I plan on hopefully retiring in 3 years. Should I put the money towards paying off my mortgage or into my 401c?Read More...

I'm a senior citizen about to turn 69. My primary source of income is Social Security but I do seasonal work at our local golf course and side handyman jobs when available to supplement my income. I have save a bit of money and have seen info on some types of investing where a person can start for around $500 or so. My question is this, is that something a man of my age should look into or just be content with the 2-3% online savings and short term CD's provide. Thank toy.Read More...

Did you know that one in eight American workers between the ages of 35 and 65 will have a disability lasting five years or longer? The average Social Security benefit is $1200 per month and the maximum benefit paid by Social Security is set for 2019 at $3,770 per month but that is significantly higher than the maximum benefits in the past. The maximum is regardless of a person's income even those in excess of $100,000 per year. Another two statistics are that only about 30% of Social...Read More...

I'm one of the people that waited a bit too long in my opinion. Which resulted in much larger payments to have retirement policies etc in place. Personally I only started planning for retirement in my 40's. And I must tell you that you will pay a lot more than when you start early. But I'm sure I'm not the only one. We lead different lives and life takes us to unexpected places sometimes. But it's never too late to start. Because even ending up having a little at retirement still beats...Read More...