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What It Costs To Retire Comfortably In Every State

Wondering whether it makes sense for you to relocate when you retire? Many clients dream about moving to a place where the pace is slower, taxes are lower, and the family is closer. Reporters at 24/7 Wall Street and USA Today looked at how far your dollars will stretch in each state. Generally, they conclude, […]

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Which States Have The Lowest Taxes In Retirement?

Looking for the most tax-friendly state to settle in at retirement? Or seeking to compare two possible destinations to see which offers the lowest tax bill? You may be able to save hours of research by looking first at Kiplinger’s updated Retiree Tax Map. It analyzes each state’s income tax, property tax, and even sales […]

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Americans Keep Moving To Florida, A Top Relocation Destination

No surprise here. Census data show that Florida remained the second most popular relocation destination in the United States for the 2010-2020 period (Texas garnered the top spot). Almost 3 million people relocated to Florida during that time frame. And in fact, the true number may actually be higher once data are updated to reflect […]

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Ready For A Side Hustle In Your 60s?

It may not be the age they thought they would be starting a new career, but more workers in their 60s are signing up for part-time or non-traditional gigs to earn a few extra bucks. So how exactly did pre-retirees join their millennial colleagues in perfecting the art of the side hustle? Like the saying […]

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Social Security Tip: Don’t Delay Benefits Too Long

You probably know that waiting to claim your Social Security benefits until your Full Retirement Age (FRA) can result in permanently higher Social Security benefits. For people born between 1943 and 1954, Full Retirement Age is age 66 but that’s slowly climbing higher for younger workers. For example, Full Retirement Age for someone born in […]

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Reduced RMDs Coming Your Way … But Not Until 2022

Here’s some good news for people nearing or already in retirement! In the future, you will be required to take less money from your retirement plans, but the new rules won’t take effect until 2022. That’s right. Required Minimum Distributions (or RMDs) will be heading downward starting in 2022, as the IRS recognizes that longer life […]

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Why Your Spending In Retirement Looks Like A “Smile”

Our clients already know that we spend a lot of time researching the finances of retirement so we can help you get the most satisfaction out of your retirement years. Previous research has suggested that your spending tends to balloon in the “go-go” years just after retirement as you cram travel, eating out, and all […]

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2021 Retirement Plan Limits

Are You Saving Enough? New Retirement Contribution Limits For 2021

Did you know that there have been a few small changes to the amounts you can contribute to your IRA, Roth IRA, SEP, SIMPLE or 401(k) starting January 1, 2021? We’ve summarized in the accompanying graph what changes – and what doesn’t – for next year. For the most part, annual employee contribution amounts for IRAs […]

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2020-10 AARP Bulletin

Quote Of The Week: Where To Get Help Managing Your Retirement Money

Many people approaching or in retirement feel they need help managing their nest egg so it lasts throughout their entire retirement. Here’s a great Q&A with financial columnist Linda Stern (AskLinda@aarp.org) from this month’s AARP Bulletin, explaining why it’s so important to rely on a CERTIFIED FINANCIAL PLANNER™  professional who is a fiduciary.   Question: […]

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Social Security To Get 1.3 Percent Boost In 2021

Social Security benefits for approximately 70 million Americans will get a 1.3 percent Cost of Living increase in 2021, the Social Security Administration announced last week. How much does that amount to? About $20 per month for the typical single, according to Social Security. That’s enough to buy lunch for you and a friend at a fast […]

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