How to Manage Withdrawals Throughout Retirement

Retirement is a period of life during which one enjoys the fruits of one's years of labor. It's an opportunity to enjoy a permanent vacation, soaking in the sun, and relishing summer days at leisure. The key to retiring like being on a constant vacation lies in meticulous and strategic planning. Here's how to do it.

Planning for retirement often raises one crucial question: How much should one withdraw each year during retirement? Managing withdrawals may significantly impact the longevity of your retirement funds. Managing withdrawals aims to strike an equal balance between enjoying your retirement and ensuring your savings last throughout life.

Planning for retirement can be overwhelming, but it becomes much easier if you start early. If you plan to retire in 2025, there are specific financial tips that you need to implement now to work toward an independent retirement. Here are some essential areas you should consider.

Wealth preservation is essential for many individuals but warrants a specific focus for those nearing retirement. Understanding the complexities of wealth preservation is crucial, particularly for pre-retirees.

Establishing financial wellness is a personal, ever-changing state of being that enables one to exercise choice while feeling in control of finances.

Who among us wants to pay the IRS more taxes than we have to? While few may raise their hands, Americans regularly overpay because they fail to take tax deductions for which they are eligible. Let’s take a quick look at the five most overlooked opportunities

COVID-19 has changed everything from our jobs to school learning and shopping and how we plan for retirement.

If you are not contributing to your health savings account (HSA), you miss out on a great way to save for health care expenses now and during retirement . HSAs allow you to save money tax-free through payroll deduction.

Americans are starting to see the impact of increasing prices at the supermarket and the start of inflation. Also, clothing at retail stores is depleting as manufacturing has halted, creating demand for products ordinarily accessible.

With 2020 barely started, preparation for tax season is underway for many investors. Now in the second year of filing taxes under the Tax Cuts and Jobs Act of 2017 (TCJA), focusing your attention on deductions you can use versus those that were eliminated will

If you plan to ‘age in place,’ it’s important to discuss your intention with your family and financial advisor now to prepare for and make it possible. The U.S. population continues to age, with the baby boomer generation now the largest generation ever.

Here we are, already to the end of 2019! The end of a year and the start of a new one is when most people decide to clean up and implement changes in some areas of their lives.

Social Security Retirement benefits are set to increase in 2020- a modest 1.6% increase for the average retired worker that adds an extra $24 per month to their retirement check. Retired couples will see their combined benefits grow to $40 per month.

The demographics of retirement and a ‘retired person’ is rapidly changing worldwide. Over the past 200 years, there have been remarkable changes in health and wealth around the globe.

Why are more people feeling financial stress despite the strong economy we’ve experienced since the recession? Many Americans are losing sleep over money, according to a January 2019 survey by Bankrate . The media may report a ‘strong U.S.

In the world of retirement planning , Social Security retirement benefits, referred to as Old Age and Survivors Insurance by the Social Security Administration (OASI), are still included as a source of income in retirement, but should it be?

‘Tax advice’ is left to federally authorized tax practitioners who prepare tax returns and defend clients pursuing relief from federal agencies for their own tax payments or to dispute tax payment errors.

The ‘Boomer Generation,’ those born between 1946 and 1964, have a great outlook for a long life since they will outlive previous generations by almost 40%, compared to their great-grandparent’s generation.

This is the first tax filing season since the Tax Cuts and Jobs Act (The Act) was passed. Even though 2018 is over, there are tax planning strategies you should think about before you file and plan accordingly for 2019.

Couples usually don’t retire at the same time when they have an ‘age gap’ between them. An age gap relationship is one where there is eleven or more year’s age difference between them.