Retirement Watch Weekly
How to Set Up Future Guaranteed Lifetime Income Today
Guaranteed lifetime income increases financial security. What many people don’t realize is that today you can set up guaranteed lifetime income to begin in the future. When retirees have guaranteed lifetime income, they safely spend more money and don’t worry about running out of money during retirement. More details are in the November 2021 episode […]
When You Can Treat Portfolio Management as a Tax-Deductible Business
After leaving the career behind, your work isn’t done. You’re in the business of ensuring there’s steady cash flow to pay your expenses. Or, as I put it, you need to generate your Retirement Paycheck. That leads to a question many people ask: Can I report managing my retirement portfolio as a business on my […]
Know The Important Differences Between Roth IRAs and Roth 401(k)s
Many employers now offer Roth versions of their 401(k) plans. Though many people believe Roth IRAs and Roth 401(k)s (known formally as designated Roth 401(k) plans) are identical, there are important differences between the two types of retirement plans. You know the basic differences between Roth-type accounts and traditional IRAs and 401(k)s. In the traditional […]
Knowing When RMDs Can Be Delayed
Not everyone has to begin taking required minimum distributions (RMDs) from all qualified retirement plans right after reaching age 72. There are a few exceptions. The exceptions don’t apply to IRAs. You must take RMDs from traditional IRAs after age 72. But the exceptions do apply to some qualified retirement plans, such as 401(k) plans. […]
What You Need to Know About 2022 RMDs
Investment prices are lower than they were last Dec. 31, and that raises concerns for many people who must take required minimum distributions (RMDs) from qualified retirement accounts, such as IRAs and 401(k)s. After age 72, annual RMDs are mandatory from traditional IRAs and most employer retirement plans. RMDs for the year are based on […]
Smart Ways to Leave a Legacy, Increase After-Tax Wealth
Legacy planning is one of the most neglected parts of financial and estate planning. That’s too bad, because good choices about leaving a legacy can have powerful effects. Too often, estate planners and individuals focus only on the tax effects of potential giving strategies. But focusing more on non-tax effects and making shrewd choices can […]
Bob’s Journal for 7/28/22
Some Notable Events That Grabbed My Attention This Week I recorded a “Fun with Annuities” podcast this week with Stan Haithcock (Stan the Annuity Man). We discussed Social Security, the SECURE Act 2.0, inflation, a little about annuities and more. Watch or listen here. Sequence of Returns Risk Upends Some Retirement Plans The recent decline […]
How to Minimize the Most Important Number on Your Tax Return [Part 2]
In last week’s edition of Retirement Watch Weekly, I shared my first three strategies for how minimize your adjusted gross income (AGI). Today let’s go through six more such strategies… Minimize Your Tax Return’s Most Important Number in Retirement: Strategy #4: Be charitable with your IRA. When you’re making charitable contributions each year and are […]
