
Working in Retirement: What You Need to Know
Working during retirement has both financial and non-financial benefits. However, before you go down this route, take into account various considerations.
Working during retirement has both financial and non-financial benefits. However, before you go down this route, take into account various considerations.
Establishing a savings plan for 2017 should be done at the beginning of the year. Thoughtful consideration should be placed in determining the type of savings you make to your employer-sponsored retirement plans.
If you are over age 50 and unsure about your ability to meet your retirement goals, there is still time to take action to meet those goals. The IRS allows special catch-up contributions that most individuals do not take advantage of – do not lose out on this gift from Congress.
As the 2017 key tax and retirement numbers are out, it is a good idea to start planning on how and when to take advantage of the breaks as well as to plan for the various thresholds and phaseouts.
Your teenager may not get rich mowing lawns or babysitting the neighborhood children, but contributing some of those weekend earnings to a Roth IRA can pave the road to a more secure financial future. Though Roth IRA contributions are not tax deductible, most teens pay little or no taxes anyway, and Roth IRAs will allow their money to grow tax-free for decades.
Employing a financial planner is not an inexpensive proposition, so the obvious question is, “Are they worth it?” Morningstar and Vanguard have each undertaken studies to quantify the impact good of a good advisor from an investment standpoint, but true fee-only financial planners can add significant value above and beyond the investments. Many folks want a trusted, objective advisor to help them achieve their goals.