Retirement

It’s not uncommon for CMOs to start thinking about retiring in their early 50’s. I have several acquaintances who have chosen to take the early retirement path (before age 65) and pursue new and different non-career related opportunities. I find it fascinating how CMOs are tackling these life changes (see here for one example). When

Beneficiaries of trusts sometimes need to realize how much control they actually have over a trust. That is because they are unaware of a power sometimes found in trusts that gives the beneficiary the ability to remove and replace a trustee. Trustees are the legal owners of the trust. As such, they control the management

If you’re already retired, you may think you’re finished with your retirement planning. Most likely, you’ve already made several critical decisions, such as when to retire, when to start Social Security benefits, how to deploy your retirement savings to generate cashflow to pay for your living expenses, and what your elections will be regarding health

Studies have shown that you’re much more likely to achieve the retirement you want by setting retirement goals and taking steps to achieve them. Without goals or plans, you’re apt to experience the retirement that shows up rather than the retirement you’ve hoped for and dreamed about. What Is A Retirement Goal? A retirement goal

Mother, age 85, liked freedom with her cash. She used her money without keeping track of her spending. She forgot to check her bank statements and didn’t notice that odd withdrawals had happened. Her short term memory was eroding. When she finally remembered to look, she was alarmed to see that unexplained withdrawals had happened

Despite the high levels of polarization plaguing American politics today, retirement policy has remained an area for bipartisan cooperation. Congress has passed two major pieces of retirement policy legislation in recent years, and red states, blue states, and purple states have established state-facilitated retirement savings programs to help working Americans save for their retirement. It

Introduction Senator Wyden has proposed new taxes to tap the very rich. One goal is to stop a common tax plan (some call it a “game”) the wealthy can play. They buy assets that grow in value. Rather than selling them which would trigger a gain and tax on that gain (which ordinary folks like

A New Year’s resolution is a promise to yourself to do something good in the year ahead. If you are over 65 and retiring or losing your job in the near future, here is one resolution you must make. Resolve to enroll in Medicare Part B, medical insurance. I sense there are some skeptics out

You aren’t alone if you are missing some retirement account assets. Sadly, many have forgotten old 401(k)s or other retirement plan assets. According to Capitalize, a company specializing in 401(k) rollovers, a shocking 20% of all 401(k) assets in the U.S. were in forgotten accounts at the end of 2021. The days of working for

Defined benefit (DB) pensions are having a moment. Following IBM’s IBM recent announcement that the company will resume offering a pension plan to its employees, there is much speculation that other companies will follow suit. On the public sector side, the town council in Trumbull, Connecticut, earlier this month unanimously voted to resume offering pensions

Let’s say you just had your 50th birthday party. Can you still retire a millionaire? Retiring a millionaire is quite simple, but it’s not easy. Otherwise, we’d see millions more people reaching financial freedom. Here is the basic math to achieve millionaire status – to help you see what you need to do daily, monthly,

Fund retirement accounts. Give to charity. Harvest losses. Get energy efficient. Here are some strategies to shrink your taxes for 2023–and beyond. By Kelly Phillips Erb, Forbes Staff With only a couple of weeks until the end of the tax year, your options for making a big dent in your 2023 tax bill are limited.

The retirement planning industry is going through a quiet revolution that could be easy for you to miss. After all, a quick scan of today’s headlines paints a grim picture for America’s retirees—bear markets, rising inflation, lack of savings, a looming recession. Well, I’m feeling a little uncomfortable now, are you? It’s true that conditions

Share to Facebook Share to Twitter Share to Linkedin As we move into 2024, it is clear that the market and the world in general is changing quickly. The ability to adapt and to change with the times is a necessity. How does that happen in the investing world? Doing very careful research into stocks,

For most people thinking about retirement, either at home or overseas, budget is a key factor. In my more than 30 years of traversing the globe scouting out retirement havens I’ve found hundreds of places that are friendly on the pocketbook but don’t tick all the other boxes on my checklist… factors like safety, quality

There is a seemingly endless debate about whether Americans have sufficient savings for retirement (for example, see these pieces from the American Enterprise Institute and the National Institute on Retirement Security). The answer is that many people do. But tens of millions do not. Overall retirement assets have grown enormously in recent years— to $36

It’s that time of year when online shopping increases as families buy their holiday gifts online. Shipping of items ordered usually goes smoothly but sometimes glitches happen. That’s exactly what scammers know and try to use to their advantage. Some of our aging parents may not be on the lookout for fake messages sent to

For most people thinking about retirement, either at home or overseas, budget is a key factor. In my more than 30 years of traversing the globe scouting out retirement havens I’ve found hundreds of places that are friendly on the pocketbook but don’t tick all the other boxes on my checklist… factors like safety, quality

Many workers reach middle age feeling burned out by the daily grind, and they fantasize about chucking it all and retiring at an early age. The trouble is, for most people, it’s a significant challenge to develop sufficient financial resources to support themselves for decades without any income from working. Let’s see how you can

With affluent Baby Boomers sitting on loads of cash, intrafamily loans can be a win-win, so long as you pay attention to the tax rules and the paperwork. By Kelly Phillips Erb, Forbes Staff Ever since the Federal Reserve started fighting inflation by driving up interest rates, banks’ prime rate, on which so much adjustable