Even if you withhold taxes on your retirement benefits, you might be surprised by an IRS estimated tax penalty at year-end. That’s because income sources like capital gains, dividends, and interest are not eligible for automatic tax withholding. And retirees face a particular risk of incurring an IRS underpayment penalty since they don’t have an […]
Retirement doesn’t mean the end of bringing home a paycheck. Countless people are working in retirement, whether they are consulting, working part-time, or starting a new career. For some, they’re working because they need the money. But for others, money isn’t the issue. They are working for other reasons. “There are people who didn’t save
Seven Surprising Reasons Retirees Are Going Back to Work Read More »
For decades, U.S. taxpayers have paid into Social Security with each paycheck, only to discover later that up to 85% of those hard-earned benefits can be taxed again in retirement. So, many retirees wondered whether 2025 would be the year that Congress would finally pass legislation to provide some relief. That question was amplified, for
New Bill Would End Taxes on Social Security Benefits in 2026: What Retirees Should Know Read More »
Otto von Bismarck was one tough keks (that’s “cookie” in German). After leading Prussia, defeating France in war and unifying Germany, the strong-armed leader became the country’s first chancellor and is credited with saying that laws are like sausages: it’s best not to see them being made. That phrase was actually coined by American poet
Impacts on Retirees and Advisors Read More »
Call it boredom, call it opportunity, or even call it inevitable. Not only are U.S. retirees heading back to work in retirement — they’re also running the show. Take Jim O’Connell, a New Orleans-based newly minted charter boat captain for GetMyBoat.com, an Airbnb-like boat rental company that allows entrepreneurial boat owners to rent out or
How Five Retirees Turned Their Passion into a Business Read More »
Key Takeaways Sebring and surrounding Highlands County offer a lower cost of living than Florida’s larger cities and many other Sunbelt retirement destinations. Famous for its auto racing track, Sebring has numerous other attractions, including museums, art galleries, and a historic downtown. Outdoorsy types will enjoy its parks, lakes, and golf courses. Sebring’s county offers
The Hidden Florida Gem Retirees Love for Its Serenity and Affordable Living Read More »
Choosing between solo and group travel can be a tough decision for retirees, with factors such as cost, safety, social interaction, flexibility and the overall experience all coming into play. Each option has benefits and challenges, and the best choice usually depends on a retiree’s personality, health, budget, travel goals and level of comfort. Kasia
Solo vs Group Travel: What’s Best for Retirees? Read More »
If you’re in or nearing retirement, a Roth conversion might be the most powerful tool you’re not using — or not using correctly. A Roth conversion done right can dramatically lower your lifetime tax bill, preserve your income flexibility, even protect your surviving spouse from costly tax burdens. But done wrong, it can backfire —
Tactical Roth Conversions: Now Is a Critical Window for Retirees Read More »
We often imagine retirement as the ultimate reward: No alarm clocks, no meetings, no bosses — just the freedom to do whatever we want. Here’s the paradox: That very freedom can feel empty if it lacks direction. I’ve seen it firsthand, not only in clients but in my own family. From just $107.88 $24.99 for
Retirees: Doing What You ‘Ought’ Beats Doing What You Want Read More »
A 401(k) is a common type of retirement account that employers offer to their workforce. The 401(k) account is one of the most common retirement savings accounts that employers offer their workers. Employees are able to contribute pre-tax dollars to these accounts and invest them tax-deferred. Only when withdrawals are made do the account holders
This Is the Average 401(k) Balance for Retirees Age 60 and Older Read More »