Find out about steps that can help you keep a level head during times of stock market volatility in this SaturdayInsurance.com article.
Can a longevity annuity help protect you against the risk of outliving your retirement savings? Learn how these annuities work and who can benefit from them (and who may not need them) and how they can fit within your financial plans in this article for AARP.
Self-employed people can still save for retirement even if they don’t have a job with a 401(k). You usually have two main options: a simplified employee pension (SEP) or a solo 401(k). This U.S. News & World Report article explains how these plans work and strategies to help you make the most of their tax advantages.
A Roth IRA can be particularly valuable during volatile times — your earnings grow tax-free for retirement, but you can withdraw your contributions without penalties or taxes anytime, doubling as a back-up emergency fund. Learn about the special Roth benefits in this AARP article.
You may need to update your beneficiary designations on your retirement plans because of life changes and new rules. This article in SaturdayInsurance.com explains how to make sure the people you want will inherit your accounts — and how the SECURE Act changes their options for receiving the money.
I enjoyed talking about strategies for filling the retirement income gap with Consuelo Mack on PBS’s WealthTrack.
Now can be a good time to convert money from a traditional IRA to a Roth — you have to pay taxes on the conversion, but the tax bill can be lower when the value of your investments is down and your tax rate is low. But you need to be careful to avoid some unintended consequences when you make the conversion. Find out more at SaturdayInsurance.com.
If you’ve been saving for years in a traditional IRA or a 401(k), you’ve benefited from the tax-deferred growth of your investments. But you’ll finally have to pay Uncle Sam when you take the money out — and the rules changed recently. The following strategies can help you minimize taxes, avoid penalties, and make smart decisions when you have to start taking IRA withdrawals. Make the most of the new rules for RMDs. Two recent tax laws made major changes to the RMD rules. In the past, you had to start taking withdrawals from your traditional IRAs and 401(k)s …