Inheriting an IRA can be a financial benefit, but the type of inheritance carries complications due to the regulations that you — as the beneficiary— must adhere to in terms of required minimum distributions. You also need to take the related taxes and penalties into consideration. These rules have become even more complex following […]
Retirement
Should You Explore Phased Retirement?
Have you wished for something between full-time work and retirement? Phased retirement programs allow workers nearing retirement age to cut back on hours while keeping some pay and benefits. The pandemic opened bosses to flexible work arrangements. And now, a fierce hiring market and higher-than-expected retirement rates have motivated them to find ways to […]
If 60 Is the New 40, Is 80 the New 60?
First, understand that 60 no longer means being “over the hill.” Many beliefs about aging are rooted in outdated information. Nevertheless, a majority of older women claim they would ideally return to their 40s. Secondly, while the 60/40 juxtaposition may sound catchy, it is more meaningful to celebrate the many positive aspects of being […]
Learn About Assisted Living Options
Assisted living communities provide moderate support with activities of daily living for their residents. This includes meals, bathing, dressing, housekeeping, and medication management. For those who live alone, there is always a safety concern. Assisted living communities offer that safety along with the ability of residents to maintain a level of independence with the […]
Managing the Effects of Inflation During Retirement
The biggest threats to your financial stability in retirement include unrealistic budgeting, inflation, health care costs, and living longer than anticipated. The first threat is, in some ways, the easiest to control. Be honest with yourself about how much you can spend in retirement. Just as when you were starting out, you need to […]
How To Know When It’s Time To Retire
The decision to retire is not an easy one, and there are many important considerations to take into account, including financial security. Additionally, your emotional and mental health are key factors to be carefully looked at. For most people, this decision starts to take shape as we get closer to our 65th birthday. We’re […]
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