With the decline of private pension plans and worries about the future of social security, retirement planning is more important than ever. Many people make a commitment to save money in order to supplement Social Security and maintain our lifestyle when the time comes to retire. We also spend a great deal of time trying to figure out the best investment [...]
Those who have qualified retirement accounts (An IRA, 401K, or other account that has never been taxed) will need to start paying Required Minimum Distributions (RMD’s) at age 70.5. RMD’s specify that you must take annual distributions from your qualified accounts every year. Failure to do so will result in substantial IRS tax penalties.
For a [...]
The ability to sustain a steady income during retirement years has always been a primary concern for people in the United States. Recent studies have shown that 61% of U.S residents age 44 to 75 are more afraid of running out of savings/income than they are of death. In order to avoid exhausting a savings [...]