Don Connelly & Associates

APRIL 15, 2024

For most people, there's little to think about when it comes to making contributions to their 401k plans. They enjoy reduced current taxes, deferred taxes on account earnings, and, for most, a matching contribution from their employer. Many retirees are shocked by the amount of taxes they owe on their retirement income.

Education 52

Education Clients Investing Investments 52

Good Financial Cents

JANUARY 26, 2023

Early retirement has become a popular financial goal. Even if you never retire early, just knowing that you can is liberating! Can You Really Retire at 50? Can You Really Retire at 50? Table of Contents Can You Really Retire at 50? FAQs on Retiring Early at 50 It’s a big bold claim – retire at 50?

Retirement 122

Retirement Taxes Retirement Planning Accounting 122

WiserAdvisor

MARCH 28, 2024

As you enter your 50s, the urgency of retirement savings becomes palpable. For those who find themselves behind on their retirement savings, the path ahead may seem daunting. However, despite the challenges, there are strategies to catch up on your retirement savings.

Retirement 59

Retirement Financial Advisor Medical Healthcare 59

Nationwide Financial

MAY 16, 2023

However, most recessions in the U.S. With most balance sheets for consumers and businesses in a solid state, Nationwide Economics is anticipating a moderate downturn later this year. We project that rising job losses later this year and into 2024 will push the unemployment rate up to around 5.5% by mid-2024.

Economics 52

Economics Retirement Clients Retirement Planning 52

Random Roger's Retirement Planning

DECEMBER 4, 2023

That is the title of an article at Yahoo where they look at savings benchmarks for 30, 40, 50 and I am guessing one will get published for 60. Maybe it's a health issue or something bad happens at work but either way, the latest numbers are something like people plan to retire at an average age of 67 but end up retiring at 62.

Retirement 66

Retirement Asset Allocation Planning Accounting 66

Random Roger's Retirement Planning

NOVEMBER 15, 2023

Generically, HSAs are probably the most important account you can contribute to. Yes, getting an employer match to a 401k makes the most economic sense but the flexibility of an HSA is hard to beat. They became insanely expensive for whatever reason, expensive relative to other insurance plans I mean and I never understood why.

Insurance 74

Insurance Taxes Medical Accounting 74

Random Roger's Retirement Planning

NOVEMBER 1, 2023

Bloomberg had an editorial board piece about the dire state of Social Security along with a couple of ideas about how to solve the problem. There wasn't necessarily anything new for people who've been following this for a while but somehow they managed to make their version of the story more ominous.

Retirement 55

Retirement Budgeting Accounting Planning 55

Tucker Advisors

APRIL 4, 2023

Forty years ago, the federal government lengthened Social Security’s full retirement age (FRA) from 65 to 67, and increased the delayed retirement credit. By next year, 2024, one in four workers will be 55 or older, which is an over 100% increase from 30 years ago in 1994. Is it the change we want?

Retirement 75

Retirement Financial Advisor Planning Budgeting 75

Random Roger's Retirement Planning

MARCH 19, 2023

in 2024 and 6.2% Part G Medicare, the one I believe to be the most robust supplemental plan currently costs an average of $1517/yr with projections of 10+% increases over the next few years. I put that one in quotes for how absurd it is. Healthview projects that the premium will rise 6.3% in 2025, 8% in 2026, 7.8%

Food 68

Food Medical Insurance Medicine 68

WiserAdvisor

JANUARY 16, 2024

Preparing for retirement is a significant life transition that demands a clear understanding of your financial situation. Examining the spending patterns of the typical 65-year-old can help you make informed decisions about your own financial future. How much does the average retiree spend per month at the age of 65?

Retirement Planning 52

Retirement Planning Retirement Planning Financial Advisor 52

WiserAdvisor

JANUARY 9, 2024

As we usher in 2024, it’s time to turn over a new leaf, not just personally but financially as well. The tradition of making New Year’s resolutions often centers around self-improvement, and what better way to enhance your life than by fortifying your financial health?

Budgeting 40

Budgeting Retirement Planning Retirement Accounting 40

Harness Wealth

MARCH 11, 2024

In this article, we’ll explore 20 tax-saving strategies you can consider to reduce your taxable income. 20 tax reduction strategies for high-income earners in 2024 Tax strategy is complex, and there are numerous ways of reducing taxable income depending on your situation.

Startup 59

Startup Taxes Medical Retirement 59

Fortune Financial

JULY 12, 2023

How Will the Cost of Living Impact Retirees in 2024? As we look forward to 2024, it is important to acknowledge the ever-changing dynamics of the cost of living and its profound impact on retirees. With various factors contributing to the cost of living, how can retirees navigate the financial hurdles facing their generation?

Healthcare 52

Healthcare Retirement Budgeting Financial Advisor 52

Fortune Financial

JULY 12, 2023

How Will the Cost of Living Impact Retirees in 2024? As we look forward to 2024, it is important to acknowledge the ever-changing dynamics of the cost of living and its profound impact on retirees. With various factors contributing to the cost of living, how can retirees navigate the financial hurdles facing their generation?

Healthcare 52

Healthcare Retirement Budgeting Financial Advisor 52

Carson Wealth

JUNE 2, 2023

by Jake Anderson, Paraplanner Retirement accounts like 401(k)s and IRAs allow individuals to save for their future in a tax advantaged manner. So, let’s say you contribute money to a traditional 401(k) plan in your 20s. This gives you ample time to grow your savings and investments for retirement.

Distribution 98

Distribution Accounting Retirement Retirement Planning 98

Discipline Funds

DECEMBER 20, 2023

The end of the year is an ideal time to start planning for the year ahead and make sure you’re on target to achieve those goals. Good financial planning is all about asset and liability matching across time. That means you need to make sure you understand how your income and assets relate to your expenses and liabilities.

Financial Planning 73

Financial Planning Planning Asset Allocation Retirement Planning 73

WiserAdvisor

OCTOBER 9, 2023

The rules surrounding Individual Retirement Accounts (IRAs) undergo frequent and impactful changes. While IRAs are a cornerstone for many retirement plans, these accounts being inherited adds a layer of complexity to them. This interpretation imposes a new level of stringency on how you can approach your withdrawals.

Distribution 52

Distribution Taxes Retirement Retirement Planning 52