Preserve $750k in 401(k) at 67: retirement plan advice As a 67-year-old retiree, you are facing the daunting task of deciding how to invest the $750,000 in your 401(k) while being conscious of fees. It is essential to preserve this money for the rest of your life without sacrificing financial security and potential growth opportunities. …
Five Tips for Enjoying Your Life After Retirement Retirement can feel overwhelming, like finally catching the car you’ve been chasing for years. You prepared for this moment, but now that you’re here, what’s next? Take a deep breath, and consider these five tips for enjoying life after retirement. 1. Stay Close to Your Loved Ones …
If you’re 77 and still working, do you need to take required minimum distributions (RMDs) from your 401(k)? Certified financial planner Brandon Renfro explains the rules for RMDs and the requirements surrounding them. Bea wants to know whether she is required to take an RMD from her 401(k) even though she is still employed. Brandon …
Brennan Schlagbaum left his job as a Certified Public Accountant (CPA) in 2021 to focus full-time on his company, Budgetdog. Him and his wife were able to pay off over $300,000 in debt and accumulate a net worth of almost $2 million through various investments, including index funds across different accounts, with Brennan’s favorite being …
Visual artists are stepping up to defend their creations against artificial intelligence image-generators. Three artists filed a lawsuit against AI companies, signaling the difficulty creators will face in stopping AI developers from capitalizing on their work. This legal battle could set a precedent for other creators across various industries, pointing to the growing tension between …
If You Make Over $145,000, You May Have to Pay Taxes on Your Catch-Up Contributions High-income workers making catch-up contributions to employer-sponsored retirement plans will face changes starting in 2024. Those who earn $145,000 or more will be required to put this money into a Roth account, losing the ability to deduct these contributions from …
Why Your Last 5 Years Before Retirement Are Crucial As the moment of retirement approaches, your financial decisions take on a heightened level of importance. Especially within the five-year window leading up to the end of your working life, it’s crucial to review and adjust your financial plan to ensure you’re well-prepared. Consulting with a …
Unleashing Your Financial Potential: Understanding the Roth IRA Conversion Ladder Unlocking your financial potential in retirement requires careful planning, tax optimization, and strategic maneuvers. One such strategic maneuver that savvy retirement planners use is the Roth IRA conversion ladder. This ladder is a smart and complex financial maneuver that involves gradually moving funds from a …
Seniors Gather at Restaurants for Meals in a Program Designed to Feed Social Lives, End Loneliness | SEO Optimized Seniors Gather at Restaurants for Meals in a Program Designed to Feed Social Lives, End Loneliness A program that provides meals to seniors in New Hampshire is not only helping them combat loneliness, but also optimizing …
By Jarrett Renshaw (Reuters) – The Biden administration is set to unveil new rules on retirement plan providers aimed at closing loopholes that enable the industry to sell products that prioritize their own revenue over the best interests of customers. This move is part of the administration’s ongoing efforts to combat the prevalence of so-called …