Category: IRA
“What is the size of the average retirement nest egg? It depends on what you mean by ‘average.’” It’s the question we all wonder about, but not very many of us will come out and ask. A 2019 analysis of more than 30 million retirement accounts by Fidelity Investments found that the average balance in […]
“Contemplation of retirement can be both exciting and intimidating. Obviously, planning for the beginning of retirement should start early.” While you may be thinking about retirement for a long time, with visions of tropical beaches or grand trips overseas, when the date starts to get closer, it’s time for some real analysis and planning, says […]
“Roth IRAs are powerful and flexible financial planning tools. They are also complex. As a result, many people aren’t familiar with all aspects of a Roth IRA.” There is a lot that most people don’t know about Roth IRAs, as detailed in the article “9 Surprising Facts About Roth IRAs” from the balance. Some of […]
“What should you do with the money in your 401(k), when you leave your job?” Your first instinct when leaving a job, for retirement or a new opportunity, may be to take your money with you, by rolling it into an Individual Retirement Account (IRA). That may not be such a bad idea. However, keep […]
The stretch IRA may disappear into the past. The House recently passed the Setting Every Community Up for Retirement Enhancement Act, known as the Secure Act, and it’s widely expected to pass the Senate. While its name sounds like it’s looking to help Americans with retirement, it is possible the bill will reduce the value […]
When money suddenly comes into the picture, there will most likely be challenges. There are many, many questions that can arise when you inherit money, such as do you pay down debts or do you invest, according to The Kansas City Star in “Coming into some money? Be wise with it“. Should you pay off […]
If you receive an inheritance, it is wise to consider the impact. There are many things that can be inherited and one must be careful of the impact on a family’s tax liability, according to the Orange Town News in “Will I Pay Taxes on My Inheritance“. Here is a partial list of different assets […]
Tom has health care issues and Louise can no longer care for him. Tom and Louise have been married for half a century and live in the same home they bought when first married. They are worried about possible nursing home costs and should be, according to the Pittsburgh Post-Gazette in “Married and concerned about […]
More Americans may have opportunities to invest in retirement plans. There are many difficulties that arise during retirement and both the U.S. Senate and the U.S. House are moving to ease those burdens, according to Next Avenue in “Will the SECURE Act Really Bring Retirement Security to Older Americans?“. With record numbers of retirees declaring […]
Not enough savings and too much spending? You move along through life and perhaps think about retirement, but some people do not plan retirement, until they are in their mid 50s. The result? Mistakes have already been made, according to The Street in “Avoid These Big Mistakes in Your Retirement Planning“. The biggest, most obvious […]
