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If you are a retiree or close to retirement you most likely have questions about Required Minimum Distributions (RMD’s). Once you reach (72), you must start making withdrawals from your traditional retirement savings plan to avoid tax penalties.
If you think retirement income planning sounds like a buzzkill, you’re not alone. We all have dreams of what we want our retirement to look like, where we will live, how and with whom we’ll spend our time. But, without the right planning, the reality might be less than ideal.
As you’ve seen in our previous sections, there’s a lot you need to know and learn about social security. How to impact and maximize the income you receive from it, but also to minimize the tax impact on your social security, other income and Medicare costs.
In your working years, you are contributing 6.2% of your pay to Social Security, and your employer is matching that, so 12.4% of what your income would be is being contributed into Social Security. That’s a pretty big amount. If you are self-employed, you pay the employees part and the employer’s part, so 12.4%.
If you think retirement income planning sounds like a buzzkill, you’re not alone. We all have dreams of what we want our retirement to look like, where we will live, how and with whom we’ll spend our time. But, without the right planning, the reality might be less than ideal.
Many people in the financial world have a lot to say about annuities – but what are they really saying? It can sound like straight gibberish. Like anything, annuities can be simple, or they can be complex. The goal of capital management is to enjoy your retirement by doing things you love with people you love, not spending more time digging through a web of fees and taxes.
Social Security and how you can maximize your retirement income is not just a hot topic for those planning for retirement; it’s a critical area in which knowledge is power.
The Dow just booked the worst 1st quarter in 124 years — here’s how the stock market tends to perform after brutal quarters
With retirement looming, kids off to college, and friends making plans for their later life it may be time to start thinking seriously about the years ahead.
After all the hardship, it appears the main impetus for ending the federal government shutdown in January was its impact on air travel.
The Center for Disease Control and Prevention estimated by early January about 7 million Americans had been stricken with the flu this season. At least half went to the doctor to seek help managing symptoms and more than 83,000 were hospitalized.
he good news is, starting this year, taxpayers may now deduct charitable donations totaling up to 60 percent of their adjusted gross income.
Sit down with an advisor to discover your financial goals, priorities, and mindset.
Your advisor will build a comprehensive plan based off of your specific needs, supported by the entire Beacon professional team.
Our advisor is with you every step of the way, advising and adjusting the plan as needed.
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