Tips for Lowering Your Tax Bill

Many people dread tax season and the April 15th deadline every year. Paying taxes is simply something Americans do, and most do it grudgingly. Scrambling to find last-minute deductions and tax credits has become something of a rite of passage for many taxpayers. Luckily, there are several such credits and deductions available for many people … Continue reading Tips for Lowering Your Tax Bill

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Your Legacy and Your Children as a Retiree

In the past 50 years, the way Americans look at legacy giving has changed.  Generational views on inherited wealth are changing and questions about how much to leave children are being asked. The Silent Generation The parents of baby boomers, this generation lived through the Great Depression and World War II.  Because of this, they … Continue reading Your Legacy and Your Children as a Retiree

The Best Retirement Calculators

Anyone who searches for “retirement calculator” will quickly discover that there are over 22 million results.  Not many people have the time to go through even a small portion of those sites to discover which is the best.  Luckily, some experts have done the hard work for us and have created a list of the … Continue reading The Best Retirement Calculators

Medicare and Retiring

With a plethora of information on Medicare, the rules pertaining to it should be simple and clear.  Unfortunately, that is not the case.  A large number of people approaching their 65th birthday become inundated with mountains of paperwork in their mailboxes from health insurance companies wanting to help those about to become eligible for Medicare … Continue reading Medicare and Retiring

Financial Advisors: Do You Really Need One?

Every individual has different strengths and weaknesses.  When deciding on whether or not to use a financial advisor for advice, a person must know their own personality.  With a plethora of financial firms and even more financial advisors, it may be tempting to hand over one’s personal finances and let someone else do the heavy … Continue reading Financial Advisors: Do You Really Need One?

The Reasonableness of a $1 Million Retirement Goal

It may seem as having $1 million at retirement would be more than enough to live comfortably.  Based on the yearly median household income of $56,320, in order to equal that amount during retirement, retirees need an average monthly income from Social Security of $1360 combined with the $40,000 income generated by the $1 million … Continue reading The Reasonableness of a $1 Million Retirement Goal

Investing in Target Date Funds for Retirement

Saving for retirement is not as simple as putting X dollars into Y account and at age 65 receiving Z payment.  Stocks, bonds, annuities, interest rates, bull or bear market, the list goes on and on when it comes to factors to consider when investing for retirement.  One solution to this complex problem is target … Continue reading Investing in Target Date Funds for Retirement

Saving Enough Money for Retirement

Setting aside money now for retirement later is often difficult for many Americans.  This shows in a number of workers today and the amount of money they currently have saved for retirement.  In a recent survey conducted by GOBankingRates, it was discovered that more than half of Americans will retire with no money saved for … Continue reading Saving Enough Money for Retirement

Investing for Retirement: Biological Age Versus Chronological Age

The traditional method for retirement investing is based on a person’s chronological age. However, with changes in how aging is perceived, consider using biological age to determine the amount of money needed for retirement. Biological Age What exactly is a person’s biological age?  First, let’s begin with chronological age.  This is the normal way to … Continue reading Investing for Retirement: Biological Age Versus Chronological Age