Retirement


A friend recently asked me whether she should open a Roth IRA or a Traditional IRA. In case these terms are unfamiliar to you, IRA stands for Individual Retirement Account—as opposed to a group or company-sponsored type such as a 401(k)—and comes in two main forms: Roth and Traditional. While the two types of retirement accounts have several minor differences, there’s one major difference between Roth IRAs and Traditional IRAs: tax...

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“I love the Roth IRA. Tax-free income in retirement is a truly great deal.” -Suze Orman You’re no stranger to the power of compounding interest—but you still might be surprised at the astounding impact it can have on young investors’ financial futures. That’s why we want to share an important piece of advice with you today: tell the young people in your life to open up a Roth IRA, if they haven’t already. Why a Roth IRA? While the...

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Deciding when to retire may not be one decision but a series of decisions and calculations. For example, you’ll need to estimate not only your anticipated expenses, but also what sources of retirement income you’ll have and how long you’ll need your retirement savings to last. You’ll need to take into account your life expectancy and health as well as when you want to start receiving Social Security or pension...

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An apple a day keeps the doctor away – and spares you the bill for medical services. Does this logic carry over into lifetime health care planning? Can you reduce your lifetime health care costs by staying healthy? Apparently not. The Center for Retirement Research at Boston College has revealed the counterintuitive finding that married couples who are the healthiest at age 65 – that is, those with no chronic conditions such as...

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With the demise of guaranteed pensions, and in light of the risks you face in managing your own retirement assets, maximizing Social Security becomes a critical part of retirement planning. How claiming age affects the income stream One of the most important decisions a retiree faces is when to apply for Social Security benefits. This is not a decision to be made lightly; the lifetime, inflation-adjusted income promised by Social...

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Rosalyn Carter once said: “There are only four kinds of people in the world – those who have been caregivers, those who are currently caregivers, those who will be caregivers, and those who will need caregivers.” In light of the longer lives we now enjoy, it’s very probable that many of us, at one time or another, will have to provide support for an aging parent or relative. Families are often slow to recognize that a beloved family...

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