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Helping Hesitant Clients Boost Their Retirement Spending

Nerd's Eye View

Retirement is often framed as one's "golden years", a time to enjoy the fruits of several decades of hard work. Nevertheless, some retirees can find it emotionally challenging to bring themselves to go beyond the basics in retirement spending (e.g., On the behavioral side, clients could 'practice' retirement (e.g.,

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Small Business Retirement Plans – SEP-IRA vs. Solo 401(k)

The Chicago Financial Planner

One of the best tax deductions for a small business owner is funding a retirement plan. Beyond any tax deduction you are saving for your own retirement. You deserve a comfortable retirement. If you don’t plan for your own retirement who will? Two popular small business retirement plans are the SEP-IRA and Solo 401(k).

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Kitces & Carl Ep 119: Navigating Succession Plans When Founders Are Having Second Thoughts On Retirement

Nerd's Eye View

However, when these aspirations are delayed or blocked by senior advisory firm partners who choose to delay their retirement plans, it can leave younger advisors frustrated and in a place of uncertainty about their futures with their firm.

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Retirement Planning Tips for Women

Talon Wealth

Retirement planning is a critical part of financial security that many women still overlook. However, remember that as a woman, you have a longer life expectancy than a man, which means retirement planning is even more important. That means you should plan for your retirement savings to last at least 18 years, if not more.

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Tips to Save for Retirement

Talon Wealth

Retirement planning can be intimidating, especially if you need help figuring out where to start. Determine When to Start Saving When it comes to saving for retirement, earlier is almost always better. Create a Budget Creating a budget allows you to track your expenses and ensure you’re saving enough for retirement.

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IRS Notice 2023-54 Provides Welcome Relief To 10-Year Rule Beneficiaries And Retirement Account Owners Born In 1951

Nerd's Eye View

The original SECURE Act, signed into law in December 2019, changed many of the long-standing rules governing IRAs and other retirement accounts, and no single measure in the legislation had a more seismic impact on planning than the changes to the post-death distribution rules for retirement accounts.

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Inflation Is A Risk In Retirement, But Most Planning Technology Doesn’t Treat It That Way

Nerd's Eye View

Sequence-of-inflation risk can substantially impact a financial plan and failing to consider this risk can lead advisors to overestimate sustainable spending and underestimate risk in retirement. Though most plans are affected at least somewhat by inflation risk, certain factors make accounting for it especially important.