Tag: Retirement

Some of the money you save for retirement will be owed to the IRS. If you start planning now, there are ways to protect your savings. Hyundai recall: 239,000 cars recalled for exploding seatbelt parts 1. Choose the right account Most people ... MORE

Many Americans plan ahead for Social Security and retirement, and with inflation rapidly rising, here are ways to prep. Delaying right now could be stressful as inflation creates so much uncertainty. There is always the option to delay benefits past your full ... MORE

Retirees are feeling the high inflation more than some other groups. This is because the majority of retirees are living on a fixed income. Stimulus: $850 checks to be sent in June Who will see the income boost? Michigan Governor Gretchen Whitmer ... MORE

Millions of Americans claim Social Security benefits each month, and when choosing to retire, it takes financial planning. The average benefit many see is around $1,657, which is hard to live on especially in expensive states. One idea many have is to ... MORE

Americans who are saving up for their retirement are required to report their contributions to the IRS with Form 5498. By making contributions to an IRA, you will receive Form 5498 for your taxes annually. This is because your IRA is required ... MORE

Once you turn 72, you are required to withdraw a certain amount each year. But how can you make that money stretch? Social Security: Some recipients to see checks worth $4,194 TODAY Required minimum distribution Required minimum distribution is also known as ... MORE

Studies have been completed that show retirement plans are not as successful as many are told they are. This includes plans like 401Ks and other contribution plans. Many employees choose not to accept retirement plans at all anymore. One major reason is ... MORE

A 401k and an IRA are both retirement accounts. Does one account offer more advantages than the other? IRS: Smartest way to use your tax refund Pros and cons of a 401k 401k plans are the traditional retirement plan, typically sponsored by ... MORE

Many Americans don’t realize they don’t need an office job to start their retirement plan, but most industrial workers don’t realize this. A survey taken by 2,000 Americans with half being 18-29 and the other half being 30-64 showed a lot of ... MORE

Many Americans have a 401K and sometimes want to dip into it before they hit the right age, but can that be done without penalty? It’s advised that you wait until the age of 59 1/2 to take from your 401K so ... MORE

Retirement savings are currently facing a crisis, and states are trying to respond in a positive way. Last month Connecticut shared that it would be joining a group of states already offering state sponsored plans. Enrollment in the plan began April 1, ... MORE

In order to save money, take notice to when you’re spending extra. Here are eight types of retirement income that isn’t taxed. There are rules about withdrawing money from you 401k 1. Stimulus checks Some Americans got Letter 6475 from the IRS ... MORE

Retirement is a big change and it could affect where you live. Here are three signs you might want to sell your house before retiring. Is my food still good after the use by date? Many people have an emotional attachment to ... MORE

There are millions of Americans who are currently without a retirement program or plan, but that may come to an end for many. In the state of Connecticut, a program called the MyCTSavings Program will help people with retirement plans and savings ... MORE

Retiring sounds like a great idea when you’re ready to finally do it, but there are risks to entering retirement early. Some people save for their entire lives to retire and still run into issues. While the idea of retiring early sounds ... MORE