The following article was published by the IRS. Individual Retirement Arrangements – better known simply as IRAs – are accounts into which someone can deposit money to provide financial security when they retire. A taxpayer can set up an IRA with a: bank or other financial institution life insurance company mutual fund stockbroker Here are some [...]
[youtube https://www.youtube.com/watch?v=Y22JUmL5-o8] A well-known, common retirement savings vehicle is the 401(k). This account allows future retirees to set aside money in a tax-advantaged way to pay for expenses in retirement. But will this 401(k) be enough for most people to pay for retirement PLUS their healthcare expenses? Enter the HSA, or Health Savings Account. Sure, you [...]
[youtube https://www.youtube.com/watch?v=o0tGWdJz0jE]Looking for a job is a job in and of itself. But as we age, it is often assumed that finding a job gets even harder. This may be true if you are trying to complete with a younger demographic looking for a job with the same criteria. But what if retirees, or those close [...]
The following article was published by the IRS. Retirees should do a Paycheck Checkup to make sure they are paying enough tax during the year by using the Withholding Calculator, available on IRS.gov. The Tax Cuts and Jobs Act, enacted in December 2017, changed the way tax is calculated for most taxpayers, including retirees. Because of [...]
[youtube https://www.youtube.com/watch?v=-88hSQUR4tw]A pretty accurate definition of retirement is doing what you want when you want to do it. In other words, it’s when you are able to start living life on your terms financially. The amount of time to reach this point varies from person to person, but it comes down to more than just what [...]