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Rethinking life after retirement

Nationwide Financial

In recent months, Americans are rethinking what life in retirement looks like because of economic uncertainty, opting to adjust their personal priorities with financial stability in mind. Working after retirement on the rise.

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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?

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Health Savings Accounts – The Other Retirement Plan

The Chicago Financial Planner

Saving for retirement is a major undertaking for most of us. Health savings accounts (HSA) provide another vehicle to save for retirement. An HSA can serve as an additional retirement savings vehicle on top of your IRA or 401(k) to help cover healthcare and other retirement expenses.

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Implementing Retirement Income Guardrails To Facilitate (The Right) Spending Raises And Spending Cuts

Nerd's Eye View

And when it comes to retirement planning, one popular technique is the use of ‘guardrails’, which set an initial monthly withdrawal rate that can be later adjusted as the size of the client’s portfolio changes.

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Annuities: The Wonder Drug for Your Retirement?

The Chicago Financial Planner

Annuities are often touted as the “cure” for all that ails your retirement. In the case of Executive Life, thousands of annuity recipients were impacted in the form of greatly reduced annuity payments which in many cases permanently impacted the quality of their retirement.

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How to Retire at 50 in 7 Easy Steps

Good Financial Cents

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? Table of Contents Can You Really Retire at 50? Looks now look at the 7 steps needed to retire at 50.

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Stock Market Highs and Your Retirement

The Chicago Financial Planner

As someone saving for retirement , what should you do now? The PBS Frontline special The Retirement Gamble put much of the blame on Wall Street and they are right to an extent, especially as it pertains to the overall market drop.

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Retirement Planning with Mr. Miyagi

Integrity Financial Planning

Then, we talk about why some people don’t want to retire. Why would someone not want to retire? (9:51). What if you don’t have enough money to retire? (13:59). The post Retirement Planning with Mr. Miyagi appeared first on Integrity Financial Planning, Inc.

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Retirement Derailed By Inflation

Random Roger's Retirement Planning

These people are portrayed as reacting to something going wrong with their retirement plans, figuring it out as they go. I mentioned the one lady selling soaps (bath bombs actually), another retiree (she may not actually be retired but her husband is) continues to work as a hair stylist. I continue to believe the best chance for success on this front is to start now, to not wait until you're retired or even worse, wait until there is a problem.

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7 Retirement Planning Myths That Can Turn Your Retirement Dream Into A Nightmare

Fintoo

A retired life replete with moments of happiness and joy. Well, we all dream of living a retired life with the people we love the most, making lifelong memories. The post 7 Retirement Planning Myths That Can Turn Your Retirement Dream Into A Nightmare appeared first on Fintoo Blog.

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A Retirement Plan Nightmare

Random Roger's Retirement Planning

We spend a lot of time here on unexpected, one-off, unbudgetable expenses that can blow up a retirement plan that doesn't have a lot of margin for error. This sort of potential sequence of expenses is an example of why retirement plan resiliency and flexibility is so important. The right (or wrong) combination of unexpected expenses and poor market returns can absolutely do in a retirement plan, especially if it happens during the first couple of years of retirement.

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5 Simple Tips for a Retirement Income Plan

Nationwide Financial

Key Takeaways: Preparing for retirement is important. Knowing their monthly expenses, social security plans, long term tax implications, and more can be important steps in helping clients prepare for retirement. For me, the key to being ready is having a solid retirement income plan.

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Avoiding Retirement Catastrophes

Integrity Financial Planning

What kind of retirement catastrophe can happen if you don’t plan? Use the timestamps below to listen to some key points: Here’s how retirement catastrophe can occur with poor planning. (0:12). The post Avoiding Retirement Catastrophes appeared first on Integrity Financial Planning, Inc.

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Will Anyone Have Enough To Retire?

Random Roger's Retirement Planning

Lending Tree posted a study showing how much people need saved to retire in/near 384 cities in the US. The averages you see from various reports are typically more akin to emergency funds than retirement funds. Even if you discount much of the study, it does provide some color of how much it costs the average person in your area to be retired.

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Melted Rocks & Retirement Planning

Random Roger's Retirement Planning

At 50 though, you do need to have some context for how viable your idea of retirement is. These are all things to incorporate into retirement planning in case every assumption we make at 40 or 50 turns out to be wrong.

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A Lot Of Retirement Mistakes

Random Roger's Retirement Planning

A few things from the last couple of days all with the theme of retirement planning mistakes to avoid. The 4% rule of course refers to the percentage that can be safely withdrawn from portfolio assets for a sustainable retirement (not running out of money). The specifics are you start at 4% in your first year of retirement and then increase that amount by the rate of inflation every year. Lastly is a list of retirement mistakes from Brett Arends.

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The Retirement Privacy Dilemma

Wealth Management

Data is critical to the proper administration of retirement plans. But who owns it

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2 Ways the 2022 Economic Woes Affected Your Retirement Accounts

Integrity Financial Planning

2] With higher prices in consumer goods, retirees may have had to reevaluate their withdrawals and spending on retirement accounts as their income became strained. Interest Rate Hikes Hit Retirement Accounts. Blog Economy Retirement Planning

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Focusing on health today will impact retirement tomorrow

Nationwide Financial

Key Takeaways: Rising health care and medication costs can be a concern for clients, so encouraging them to take advantage of any employer-provided wellness programs can be a cost-effective way to maintain a healthy lifestyle that can continue into retirement.

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Return Assumptions in Retirement Income Planning Software

Covisum

FinPlan Fridays Income Planning Retirement Income PlanningLately, there have been a lot of conversations surrounding the current market state, and many retirees are worried about their investments.

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The 3 Stages of Retirement

Mullooly Asset Management

One of the most common misconceptions about retirement is that it is a single continuous event. You tell your boss, or whoever you need to, that you do not plan on working anymore and you’re off into this new stage of life called retirement.

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The SECURE Act 2.0 Retirement Income Planning Opportunities

Covisum

is significant legislation signed into law on December 20, 2022, and is expected to have several impacts on retirement income planning. Roth RMDs Retirement Income Planning SECURE Act 2.0Updated Legislation Means More Changes That Advisors Need To Know. The SECURE Act 2.0

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Avoid the Overweight Retirement Plan

Getting Your Financial Ducks In A Row

When you have the bulk of your financial assets in retirement plans, you might accidentally expose yourself to some risks that you haven’t thought about… since retirement plan assets are much more likely to be impacted by changes to legislation – as we have seen in the past. Assets held outside of retirement plans enjoy capital gains tax treatment (under current law) that is generally much more favorable than the ordinary income tax rate.

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How Inflation Impacts Retirement Income Planning

Covisum

Over the past several months, high inflation has been a top concern for many people , especially those nearing retirement. Social Security FinPlan Fridays Retirement Income Planning inflationWe are in a considerably higher inflation environment than we've seen in decades.

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Planning Your Lifestyle in Retirement

Mullooly Asset Management

Your lifestyle will largely dictate the financial “success” of your retirement. Which is true before retirement as well. In a recent blog post, I wrote about how you need to plan for what lifestyle you will have in retirement.

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Secure Act 2.0 to Bring Sweeping Changes to Retirement Rules

Darrow Wealth Management

Congress is once again poised to make sweeping changes to the retirement and tax rules in the last two weeks of the year. retirement changes. Under current law, SEP and SIMPLE retirement plans cannot have a designated Roth IRA account.

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3 Ways the Gender Pay Gap Affects Women in Retirement

Integrity Financial Planning

This phenomenon generally affects retirement funds as well – this is called the gender retirement gap. [1] This pay gap has hindered women’s ability to achieve retirement. Lower Retirement Income. Because women earn less, they also have less in savings for retirement.

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Two Key Retirement Benefits Farmers Might Miss

Nationwide Financial

Those numbers make it clear that farmers are generally not retiring at age 65. Yet even though many farmers lack a “plan” for retirement in the traditional sense, farmers still need the help of financial professionals. Retirement Income and Transition Planning in Agriculture.

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Market volatility shouldn’t derail retirement goals

Nationwide Financial

For people nearing retirement, these challenges can be even more daunting. A market downturn at the start of retirement, hitting portfolio values when retirees begin to take account withdrawals, can be unsettling, even for seasoned investors.

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Disability Benefits at Retirement Age

Getting Your Financial Ducks In A Row

What options do you have available to you when you’ve been receiving Social Security disability payments – and you’re nearing Full Retirement Age (FRA)? Disability Benefits at Retirement Age. delayed benefit disability benefits reader questions retirement benefits Social Securit

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History of the Individual Retirement Arrangement (IRA history)

Getting Your Financial Ducks In A Row

In 1974, Congress passed the Employee Retirement Income Security Act (ERISA) that, among many other provisions, provided for the implementation of the Individual Retirement Arrangement. Amounts rolled over from employer retirement plans are entirely exempt.

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Reverse Mortgage Loans: Imaginative Ways They Can Be Used in Retirement Planning

NAIFA Advisor Today

Here are three ways people 62 and older (working in tandem with their advisors) can incorporate reverse mortgages into sound retirement plans to potentially improve retirement outcomes. Reverse mortgages can help solve many challenges in retirement.

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What Football and Retirement Planning Have in Common

Integrity Financial Planning

We compare different football analogies to retirement planning to help you understand where you’re headed and find out if you’re making the right decisions. The post What Football and Retirement Planning Have in Common appeared first on Integrity Financial Planning, Inc.

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Struggling Female Retirement Plan Participants Looking to Plan Sponsors for Help

Nationwide Financial

Key Takeaways: Female participants are delaying their retirement at a greater rate than male counterparts due to concerns about inflation and market volatility. 2022 was a difficult year for many American retirement savers who watched markets drop and inflation dent their monthly budgets.

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The Silent Killer Of Retirement

Integrity Financial Planning

When retirement planning, inflation can leave you with far less than you thought. Right now, inflation is hitting harder than usual, and it’s often a silent killer when it comes to retirement planning. What kind of retirement income do you actually need?

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Revised Retirement Rules in the SECURE Act 2.0

Wealth Management

New law includes significant changes to the rules for individual retirement accounts and employer plans

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Surprising Stats about the 4 Stages of Retirement, Ep #169

Financial Symmetry

Which retirement stage are you in? Spoiler alert: the stages begin before you are retired. You’ll also be surprised by some of the stats we uncover as we dissect findings in the latest Age Wave study on retirement. Podcast Retirement retirement planning

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5 Reasons Why Houston Is a Great Place to Retire

Park Place Financial

Retirement Planning 5 Reasons Why Houston Is a Great Place to Retire Schedule a Complimentary Financial Review CLICK HERE TO SCHEDULE. For many people, retirement offers the time and opportunity to travel and explore new endeavors they never had the time for during their working years.

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Retirement Account Contributions are Increasing in 2023

Mullooly Asset Management

If you save money into a retirement account, like a 401(k), 457 or 403(b), you will be able to contribute more in 2023. The IRS announced a new contribution limit of $22,500 for these accounts starting next year. That is an increase of $2,000 from the 2022 limit of $20,500.

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3 Birthdays You Need to Know for Your Retirement Accounts

Integrity Financial Planning

Optimizing your retirement savings takes more than just making sure your IRA isn’t at risk in this market. Know these 3 ages that can help you get the most out of your retirement accounts. 3 Now, many retirees have more time to let their retirement savings grow tax-free.