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Turning 62 This Year? 5 Things You Need to Know About Social Security

You’ve just reached the age of Social Security eligibility (assuming you would file an early claim for benefits), so here's what you need to know at this time.

You Can Still Contribute to Your Retirement Account for 2022 Tax Season

You can still set aside money in a retirement account and receive a deduction on your 2022 tax return. 

Larger Social Security Checks in 2023 Could Bring a Tax Surprise

Like many retirees and those planning an imminent retirement, you might have felt thrilled to hear of the recent cost of living adjustment to Social Security benefits. The 8.7 percent increase represented one of the largest-ever...

The 5 States with Lowest Taxes for Retirees

Of all the things you’re looking forward to in retirement, the freedom from an office is probably number one. Not only will you escape the pain of a daily commute; you won’t be tied to a particular location at all....

The New RMD Age of 73 starts in 2023

As you might already know, the SECURE Act made a number of changes to retirement account rules. Specifically, the age at which required minimum distributions (RMDs) must begin was raised from 70 ½ to 72, giving retirees a bit more...

Take Your RMDs On Time to Avoid Possible Penalties

If you miss the deadline for taking your first RMD, you could put yourself in jeopardy regarding potential penalties. Here’s what you need to know.

6 Things to Know About Year-End Charitable Gifting

Use these tips to strategize your generosity, and you can benefit yourself and others at the same time.

Reminder: Tax Season is Just Around the Corner

Take the time to address these tax planning steps before the end of the year.

4 Ways to Manage Your Healthcare Costs in Retirement

Because healthcare can become a considerable expense after age 65, you should carefully consider different methods of managing those expenses.

Retirement Plan Contribution Limits Increase for 2023

How much should you save for retirement from each paycheck? That’s one of the most common questions in the financial planning world. We generally recommend that our clients save as much as possible, for several very important...

5 Forms of Non-Taxable Retirement Income

Because you will likely be living on a fixed income in retirement, you want to minimize the impact of any “surprises” at this time of life. For some retirees, income taxes can come as a major shock. Yes, income taxes are...

Yes, You Can Still Retire During an Uncertain Economy

If you’re due to retire soon, it would be understandable if you’re feeling a bit nervous about the uncertain state of the economy.

Social Security Beneficiaries Will Receive a Raise in 2023

If you’re concerned about the impact of a COLA on taxes or your retirement budget in general, do get in touch with us to discuss your options.

A Simple Way to Keep Medical Costs Lower in Retirement

Once you enter retirement, your out-of-pocket spending on healthcare is likely to increase. But you do have some options to keep costs down.

The Two Most Common Retirement Fears

Normally, we focus on retirement goals when putting together a plan. Once we help our clients identify their objectives, we create a strategy for a retirement income that hopefully provides for their future lifestyle. But we...

What Happens When You Claim Social Security at 70?

Many of us tend to view age 65 as a target retirement age. That’s when you become eligible for Medicare, but it’s early enough that you hopefully still have many healthy years ahead of you. But some of us are ready to...

The Retirement Risk You Haven’t Addressed

Most of us feel a bit of anxiety as we approach our target retirement date. You want to be sure that you’ve planned for everything, but as you know, some things in life cannot be planned. Instead, we can only plan how to handle...

It’s Almost Fall: Start Thinking About Tax Planning Now!

Because adequate advance planning can help you better strategize your tax return, you should think about it before the end of the year.

States that Don’t Tax Social Security and/or Retirement Benefits

Because individual states do impose their own tax code, choosing a location can be critical in the retirement years. That’s why so many retirees choose to relocate after their working years have ended. 

6 Surprises You Might Encounter in Retirement

Life will always throw us little surprises. But if you anticipate some of the possibilities, you can at least accommodate the possibility within your plans. 

3 Aspects to Creating an Effective Budget

A core element to financial health is to spend less than you make. It is simple until you put it into action. Here are 3 qualifiers to measure your budget by.

5 Steps to Creating Successful Financial Goals & Why it Matters

Here are 5 components to help you create sustainable & achievable goals.

9 Things You Might Not Know About Social Security

Are you wondering what’s so confusing about Social Security? Here are nine of the most commonly surprising facts that many people don’t know.

4 Steps to Reduce Your Debt Before Retirement

When we talk about retirement planning, most of us tend to focus on saving money and setting up one or more reliable streams of income for the future. But there’s another important component of planning for your retirement: How...

The Best Way to Pay off Debts Before You Retire

You might feel tempted to utilize a somewhat controversial method of paying off debts as your target retirement date approaches… But should you?

How Will Inflation Impact Your Retirement Income?

With inflation rising rapidly, how will your retirement income and lifestyle be impacted?

If You’re Retired or Soon to Be, Take Note of This Change

Once you enter retirement, you will need to switch your strategy from saving to taking withdrawals. And while doing so, you must navigate complicated IRS rules.

How Do Social Security Spousal Benefits Work?

2 Things You Can Do to Increase Your Retirement Savings

Hit Age 50 Yet? Time for a Financial Check-Up

Because life tends to bring so many surprises, there are never any guarantees when it comes to retirement savings and planning. But this quick check-up can help you decide if you’re on the right track. 

Estate Planning: Important Documents to Have in Place

A Big Tax Refund Might Mean You Need Better Tax Planning!

Why You Must Max Out Retirement Plan Contributions

How Does Social Security Work When a Spouse Dies?

It is important to consider what happens to each of you if the other spouse passes away first. In most cases this is an unpredictable part of life.

What Happens if I Start Collecting Social Security, But Then I Change My Mind?

At some point, you might feel that you’re ready to - or need to - claim your benefits. What if that decision turns out to feel like a mistake, and you regret it? Can you change your mind and delay your benefits until later?

How Gas Prices Impact the Economy

What You Need to Know About Required Minimum Distributions

What to Do After Maxing Out Retirement Plan Contributions

An Update on the Latest Financial Scams

Which States Will Tax Social Security Income?

Social Security Planning for Married Couples

New Year - Time to Review Your Beneficiaries and Make any Needed Changes

The Pros and Cons of Claiming Social Security Early

How to Bounce Back From a Financial Setback

Before Joining the Great Resignation, Read This

What You Need to Know About Estate Planning Right Now

Over the past year and half, we’ve all thought about contagious diseases and healthcare much more than we normally would. Living through a state of emergency can prompt us to rethink many of our plans, including our estate plans....

Have You Considered the Cost of Healthcare in Retirement?

Have you set a target retirement date yet? Or, are you still evaluating your options? Either way, it is likely that you will continue to reevaluate your budget even after you retire! That’s because the costs of various goods and...

Pandemic Fallout Triggered an Early Retirement for Some

If there’s one thing that can change nearly every aspect of society, from broad trends down to individual lives, it’s a pandemic. As we’ve seen, the consequences of the Covid pandemic have affected us at every level....

Should You Pay Off the House Before You Retire?

Ask ten different people about their dreams for retirement, and you might get ten different answers. But one theme will pop up regularly: Many of us envision a debt-free life. And in particular, paying off the mortgage before...

4 Financial Lessons We Can All Learn from Baby Boomers

As Einstein once said, “Information is not knowledge. The only source of knowledge is experience.” Experience, whether intentional scientific experiments or simply life lessons, is the best way to gain wisdom. But we can...

What is a Debt Ceiling, and How Does It Affect Us?

Washington lawmakers never fail to keep us entertained (or concerned, depending upon your perspective). But the latest news seems a bit confusing for many of you. What exactly is the debt ceiling, and why do they want to raise it...

Avoid These 5 Money Mistakes as You Head Into Retirement

After decades of working, planning, and saving, you’re finally beginning to see the light at the end of the tunnel! But now, as you head into the final stretch of your career, you must avoid a few common mistakes. Make wise...

What’s the Difference Between Traditional And Roth Retirement Accounts?

Ideally, retirement planning begins early in your career and then continues for decades. You will make a number of decisions when you first open a retirement account, and then reevaluate those decisions throughout your career as you...

Small Businesses in California Must Provide a Retirement Plan

Many Americans worry that they are under-prepared for retirement, citing insufficient savings and a rising cost of living. Even worse, according to the Federal Reserve one quarter of working adults have no retirement savings at all. In...

New Retirement Statistics Might Make You Think Twice

Are you planning to retire sometime within the next decade? Many of us have been planning for this moment for many years, and now we’re in the home stretch of our careers. We hope you’re feeling confident about your plans,...

As Prices Rise, What Will Happen to Social Security Checks?

No, it is not your imagination. The cost of many goods and services has risen over the past year, and some of those price hikes are significant. Most household budgets have been impacted, and the measures of inflation are indeed...