When you retire, your income will most probably be lower than when you were working, and while your expenses will be lower in some areas — no more commuting — they’ll be higher in others — more prescriptions and doctors’ visits. You’ll be balancing your Social Security benefits, Medicare premiums, taxes and savings, along with […]
Tag: Retirement Savings
Retirement Planning: Key Considerations
The concept of retirement is stressful for many people. Retiring in and of itself can be worrisome because it essentially entails a life where you no longer work yet you still need to support yourself. In addition to worrying about money, others wonder how they will fill the time. As such, the possibility of being […]
How To Make Money Last in Retirement
Health care is expensive, more people are living longer and the market is on a roller coaster. Worrying about running out of money in retirement is not unfounded. But with financial planning, you can get some breathing room, so you can face retirement with ease rather than stress. Inflation is one reason people think they […]
Save for Retirement Now; Get a Tax Credit Later
A tax credit known as the Retirement Savings Contributions Credit is designed to offset a percentage of the initial $2,000 that taxpayers put toward their individual retirement accounts or other retirement accounts established through their employers. Also called the Saver’s Credit, this IRS-backed tax credit makes it possible for people with disabilities to contribute to […]
Starting Late? Tips For Building Quick Retirement Savings
Maybe you spent most of your early career working paycheck to paycheck. Perhaps your savings went to college funds for your children or paid off old debts. Whatever your circumstances, it’s never too late to build a nest egg. Follow these tips to quickly grow your retirement fund and avoid penny-pinching in your golden years. […]