Tag: retirement planning
-
Why Should You Hire a Retirement Advisor?
Retirement can last much longer than you anticipate. Life expectancy rates have been rising over the years, owing to improvements in medicine and safety. While this suggests that you will live longer, it also indicates that you will require a larger retirement corpus to sustain yourself in your non-working years. As per the Money Guide, ... -
Six Tips to Help You Face Any Financial Crisis with a Robust Financial Plan
Financial planning is important for a number of reasons. It can help you achieve your long-term and short-term goals, help make your retirement financially secure, and reduce your tax liabilities. A robust financial plan can also help you with a money crisis. A money crisis or financial problem can strike anytime, completely unannounced, and disrupt ... -
Things You Should Remember About Automatic IRAs
Retirement savings have always been a complicated topic for investors. The fixed set of procedures requires the knowledge of different retirement accounts, tax benefits and liabilities, contribution rules and withdrawal limits, as well as growth opportunities. Picking the ideal investment instrument is crucial as your future can depend on it. Insufficient savings can create a ... -
Taxation of Retirement Plan Benefits
The purpose of this text is to explore the tax treatment of distributions from qualified retirement plans, whether they were established by the individual or by an employer. Tax deductible savings and tax deferred income Qualified retirement savings plans are savings plans that are encouraged by the tax laws, but which are subject to certain ... -
Should Your Portfolio Become More Conservative as You Approach Retirement?
Ideally, your portfolio grows with you. How you invest depends a lot on your age, and hence, your portfolio eventually shapes and looks different according to your life stage. Conventional wisdom suggests making your portfolio more conservative as you get older and approach retirement. It may be advisable to rebalance your asset allocation, lower the ... -
All you Need to Know Regarding Deferred Annuities
According to some reports, the global average life expectancy has nearly doubled to more than 70, since the early part of this century. As life expectancies continue to rise, retirees may need to reconsider their financial strategies and account for supplemental regular income streams to support them during the non-working years of their lives. Deferred ... -
What Are Good Tax Strategies for Retirement Income – Tips and Guide
Taxes affect your income while you are working, as well as after you retire. According to a recent survey of nearly 130,000 American consumers, an average American pays nearly $10,500 in income taxes annually, which is nearly 14% of an American household budget. It is prudent to build-up a strong corpus for your retired years by investing ... -
Are You Ready to Retire? 6 Important Factors to Assess Your Retirement Readiness
Retirement readiness measures how equipped you are to comfortably live the golden years of your life. It estimates your financial preparedness and the degree to which you can support your current standard of living after you retire. According to the 2019 Consumer Finances Survey of the Federal Reserve, in households governed by a person between ... -
Importance of Investing Acumen for a Secure Retirement
Everybody dreams of living a comfortable life when they grow old and have no regular source of income. For this, some start planning for their retirement when young, while others begin at a later time in their life. But irrespective of the age, efficient retirement planning requires investing acumen. Since most of your retirement planning ... -
Transitioning From A Saver To A Spender In Retirement
Studies suggest that it takes 21 days to form a habit. This is why financial advisors often ask their clients to steadily save for at least a month to get into the habit of saving regularly. As hard as it is to build habits, it is equally tough to get rid of them. When people ...