Once you reach a certain age, you must take an annual required minimum distribution, which is a payout from your traditional IRA, 401(k), or other retirement account. The required amount is calculated based on your age and the account balance. Generally, you can’t reinvest your required minimum distribution in a tax-advantaged account, including another […]
Retirement
Living Happily Ever After: Where Should I Retire?
Before you retire, one of the first things to ask yourself is if you should even move at all. If where you live now is affordable, close to family and friends, and provides access to the activities you enjoy, then staying in the community you are familiar with may be the best move. Another […]
Gig Workers Retire, Too
Although they may be treading a different path, sooner or later, most independent workers (“gig workers”) would like the option of slowing down, even if no one will be giving them a gold watch. Many gig workers alternate between stints at corporate employment and periods of self-generated projects. Others have fully embraced the independent […]
Definition of Retirement Lies in the Eye of the Retiree
Retirement can be categorized by stages. Sociologist Robert S. Weiss looked through a prism of 100 retirees in the Boston area and identified three classifications and their limitations. These approaches may overlap or conflict, and they can be both subjective and objective. Financial independence The financial framework assumes retirees can count on their accumulated savings […]
Staggered Retirement: Wave of the Future?
Couples retiring together means they can start enjoying all the activities they’ve been dreaming of for years. Will retiring as a couple work for you? It’s a good idea to map out the trajectory of how and when you both would like to leave the workforce and how your plans mesh. You may find that […]
Different Kinds of Long-Term Care Facilities
There are many reasons why a loved one might require the assistance of a convalescent home. For instance, some elderly folks receive a nursing home recommendation after they are hospitalized. But regardless of why you believe your loved one should be under the care of professionals at a nursing home, your reasoning will be unique […]
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