Taxes in Retirement
Bob Carlson of Retirement Watch on how to manage your taxes and planning strategies to pay less
Found 484 Articles.
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How to Minimize Taxes on Annuity Payouts
Annuities offer several benefits when you begin receiving distributions. You receive guaranteed income that lasts for life, no matter how long you live. The insurance company takes on the risks of low investment returns and a long life. You don’t have to worry about scheduling distributions or deciding which assets to sell to raise cash. […]
Personal Finance After 50 For Dummies
Here’s the latest and most comprehensive retirement financial planning guide. All the key financial issues of retirement are answered: How will you pay for retirement medical expenses? When should you begin Social Security benefits? When should you retire? How do you ensure you won’t run out of money in retirement? Should you buy long-term care […]
The New Rules of Retirement
Retirement and retirement planning are changing. They were changing before the bear market of 2000-2002, the recession of 2001, and before Sept. 11, 2001. Significant trends were already afoot that changed many aspects of retirement and retirement planning: the cost of retirement, pensions, health care, housing, the financial markets, estate planning, tax planning, and many […]
The Retirement Advantages of Health Savings Accounts
There’s an advantage in the medical insurance changes of the last few years, and few people are maximizing it. The Afford-able Care Act of 2010 of course changed insurance for pre-retirees, whether they buy individual policies or have employer-provided coverage, and you need to know how to use the changes to your advantage. The major […]
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Should Annuities Be in IRAs?
It is past time to consign to the dustbin of financial history another long-time financial rule of thumb. I hear it regularly when making presentations. People say, “I thought it never was a good idea to buy an annuity in an IRA.” That used to be reasonable advice but no longer is in many cases. […]
Planning 2015-2016 With Your 2014 Tax Return
Don’t close your 2014 income tax return files just yet. You should use that tax return to plan for the rest of this year and next year. Tax planning should be a year-round activity these days, and last year’s tax return is the best place to start. The federal income tax return also is one […]
Knowing When to Convert an IRA
Too many people are told that because they are seasoned IRA owners, they’re too old to convert a traditional IRA to a Roth IRA. Converting a tradition-al IRA to a Roth IRA can be a good idea at any age, if the circumstances are right. Unfortunately, I still hear from too many people who were […]
Maximize Medical Expense Write Offs
Retirees and those near retirement often shortchange themselves when computing medical expense tax deductions. Few taxpayers deduct medical expenses because of tax code changes over the years, but the deductions aren’t eliminated. There’s a good chance that if you’re reading this you aren’t maximizing this tax break. To deduct medical expenses, you have to itemize […]
