It’s not surprising that the majority of people take social security as early as they can at age 62 - over 34% in 2018 - although from a financial standpoint almost no one should. Perhaps the early-takers thought “it might not be there later”. However, we are dealing with the federal government...
At age 72, the government is ready to begin collecting tax on all of your deferred income and growth inside your IRAs and 401(k)s but you want to avoid paying the tax. What can you do? There are a least four legitimate strategies to delay or avoid taking RMDs.
When it comes to deciding to contribute to a Traditional or Roth 401(k) account, there are many factors to consider – most of which boil down to the amount of income taxes you are projected to pay over your lifetime.
This short 7-minute video explains what is a Roth IRA, how you get money into it, and why nearly everyone could benefit from having one.
You’ve worked hard for years and saved money along the way, but how do you take those retirement savings and turn them into retirement income that will last for 30 years or more?