A pension provides a reliable source of income in your retirement years, making it easier to manage your expenses and enjoy the life youve always dreamed of. For most retirees, receiving a pension wont affect the amount of your Social Security payouts. You can enjoy both. However, if your pension comes from a certain type … Read more
Are your retirement savings a little low? Youre not alone. In fact, about one in five (21%) of Baby Boomer workers has less than $50,000 saved for retirement, according to the Transamerica Center for Retirement Studies 2023 survey. If youre in that low-to-no camp, here are the things you can do to help shore up … Read more
Is Social Security taxed after age 70? Your need to pay taxes on Social Security benefits depends on your income and filing status rather than your age. The new Senior Deduction included in the One Big Beautiful Bill will lower taxes for many seniors and might make it so that you dont have to file. … Read more
Have you ever found yourself in a financial pinch and thought about borrowing from your retirement savings? You might be wondering: “Can I take money out of my 401(k) and put it back in 60 days without penalties?” The short answer is yes – but there’s a lot more you need to know before making … Read more
Life gets real when you hit 40. You’ve probably got a mortgage, maybe kids in school, and retirement suddenly doesn’t seem so far away. According to a 2024 Transamerica Retirement Survey, only 16% of Gen X workers feel very confident they’ll retire comfortably. If you’re part of that nervous majority, I’ve got good news – … Read more
Understanding the Tax Implications of Trust Distributions in 2025 If you’ve recently become a beneficiary of a family trust or are considering setting one up, you’re probably wondering about the tax consequences. The answer isn’t as straightforward as a simple yes or no – it depends on several factors including the type of trust, the … Read more
As a homeowner with a mortgage, you may wonder how to protect your property and your loved ones’ future. Putting a mortgaged house in a trust can offer many benefits, but the process can be complicated. In this blog post, we will explore the different types of trusts, the advantages and disadvantages of each, and … Read more
Ever wondered if those assets transferred through a TOD designation count as inheritance? You’re not alone in this confusion. As someone who’s helped many clients navigate estate planning I can tell you this question comes up constantly. Transfer on death (TOD) designations offer a convenient way to pass assets to loved ones while avoiding the … Read more
If you receive monthly Social Security benefits, your Medicare premiums can be automatically deducted from your Social Security check. The amount of the deduction depends on which Medicare plans you have and your income. What You’ll Find in This Article Ever opened your Social Security check and wondered where some of your money went? You’re … Read more
Have you ever felt like the tax man is always coming for your hard-earned money? Well I’ve got some amazing news for you! There’s actually a magical unicorn in the world of retirement accounts that can help you kiss those retirement tax worries goodbye. It’s called a Roth IRA and I’m convinced it might just … Read more
