Retirement

By Jenny Anderson - March 12, 2019

On a blustery March day five years ago, I locked arms with my mother and walked into a church in Maplewood, New Jersey to bury my brother. Bagpipes played “Amazing Grace.” I remember shivering and worrying: that my dad would slip, my mom would collapse, and that I would botch the eulogy.

“Our new Constitution is now established, and has an appearance that promises permanency; but in this world, nothing can be said to be certain, except death and taxes.”

It’s a quote that comes to us from Benjamin Franklin, who uttered the phrase in 1789.

Health care costs will be the biggest expense for most retirees. It’s not a pleasant prospect, but it is a reality.

There are many different ways you can shelter your savings from taxes. It is a powerful incentive for us to save for retirement.

Options give us choices, but choices can confuse as options proliferate.

It’s hard to believe, but another year is almost behind us. With January just around the corner, now is a great time to review various items you may want to consider as you get set to enter 2018. Many of the IRS publications referenced below are for tax year 2016. Changes are not anticipated when 2017 guides are published.

Tens of millions of Americans are looking forward to the day they retire. Others enjoy their profession and can’t imagine a life without work. Yet, even those folks recognize that one day they won’t wake up on a Monday and head into the office.

Do you picture yourself owning a new home, starting a business, or retiring comfortably in the near future? These are a few of the financial goals that may be important to you; however, each comes with a price tag attached.

Words like "hero" and "icon" get tossed around pretty casually these days, but the world lost a true card-carrying legend, last week, with the passing of boxer Muhammed Ali, after a long and public battle with Parkinson's disease. Ali first gained fame in the ring, of course, floating like a butterfly and stinging like a bee.

There are several strategies for moving money into tax-free accounts, however, that may not always be the best choice for you.  Having blended retirement accounts make sense when trying to minimize taxes and maximize sustainability.

How to Get Money Into a Tax-Free Account

There are three ways to get money into a tax-free, or ROTH IRA account.