Over three-quarters of the respondents in Fidelity’s 2021 American Caregivers Study understood how difficult taking care of a disabled family member was. They insisted they had no other choice and that the decision was more emotional than practical. Their devotion still takes a toll on their stress levels and own retirement planning, though. At times, they […]
Retirement
Work Around Retirement Myths
Retirement is highly individual and must be tailored to personal circumstances. It may appear to be a general balancing act between reduced activity and consumption versus increased health care costs and inflation, but even these outlays are subject to differing ages, interests, and locations. Beware of oversimplified rules of thumb when your entire future is […]
Retirement Planning: Key Considerations
The concept of retirement is stressful for many people. Retiring in and of itself can be worrisome because it essentially entails a life where you no longer work yet you still need to support yourself. In addition to worrying about money, others wonder how they will fill the time. As such, the possibility of being […]
Start the Family Retirement Conversation
If you have not yet had a serious conversation with your children about your plans and hopes for retirement, you are not alone. Most aging parents had never addressed it with their families. Why not? Money is often a taboo subject. There are reasons galore to procrastinate. Many children do not want to raise the […]
The Tax-Advantaged Path to Retirement
Let’s start with the traditional individual retirement account, the most common type of IRA. IRAs let earnings grow tax deferred. Individuals pay taxes on investment gains only when they make withdrawals. Depositors may be able to claim a deduction on their individual federal income tax return for the amount they contributed to an IRA. What […]
Estate Planning Issues After 65
Estate Planning Issues After 65 Your 65th birthday is a landmark date for many, as you plan for your senior years. There’s a lot to think about, and your decisions will be based on your income and savings and on your long-term goals. Below is a summary of the major issues. Sign up for Medicare […]
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