Retirement Watch Weekly
Electronic Wills Are Coming
Very slowly but surely, estate planning law is catching up to modern technology. The latest development paves the way for electronic wills in most states. An electronic will, or e-will, is one that recognizes the traditional formalities of a will when they’re in an electronic format. An e-will can be written in an electronic medium, […]
Bob’s Journal for 3/4/21
Tips Retirees Need for 2020 Tax Returns Many retirees and people who took COVID-related retirement plan distributions might need some extra time to work through their 2020 tax returns. Those who took distributions from traditional IRAs at any point during 2020 will receive a Form 1099-R reporting the distributions to them and the Internal Revenue […]
Evaluating a Codicil vs. a New Will for your Estate Planning Strategy
When an estate planning strategy needs updating, there’s always one key question. Should an entire will be written and executed, or is a simple amendment sufficient? An amendment to a will, in lawyer talk, is a codicil. It’s an important question, and not one to be taken lightly. There are no guidelines or restrictions in […]
Bob’s Journal for 2/25/21
Some Notable Events That Grabbed My Attention This Week I’ll answer a few more questions this week that were raised by a number of listeners during the subscriber teleconference we had two weeks ago. (A replay is available here.) Question 1: I was planning to delay Social Security benefits until at least full retirement age. […]
How Market and Economic Trends are Changing in 2021
Some key investment and economic trends of the last few years started to change in the last few months. I believe those changes will continue, and probably accelerate, in 2021. One change, which I’ve been highlighting, is that returns from U.S. stocks are unlikely to continue to significantly outpace returns from many global stocks. U.S. […]
How to Make Better Social Security Decisions
Most Americans make the wrong decisions about claiming Social Security benefits. That costs them $100,000 or more of lifetime benefits and increases financial struggles in their later years. It doesn’t have to be that way for you. Making Social Security claiming decisions the right way ensures you make the best choices for you and your […]
Tax Moves Now Can Avoid Higher Medicare Premiums in Two Years
Paying close attention to your tax situation today can help avoid paying much higher Medicare premiums in two years. This Stealth Tax catches more and more Americans age 65 and over by surprise every year. The Medicare premium surtax was created to add means-testing to Medicare, charging higher-income beneficiaries larger premiums for Parts B and […]
Congress Isn’t Finished Coming After Your Retirement Money
The Biden administration and Congress are planning major spending increases in 2021 and beyond. They are going to raise taxes to pay for some of that spending. A lot of the revenue to pay for the new spending is likely to come from retirement plans, according to several speakers at a recent American Bar Association […]
