Ever found yourself staring at your retirement accounts wondering, “How much money can I transfer to a Roth IRA without getting in trouble with the IRS?” If so, you’re not alone! This question confuses tons of people, and honestly, the answer isn’t as straightforward as we’d like I’ve spent hours researching this topic and want … Read more
After decades of stashing away money in your 401(k), you’ve finally reached the finish line – retirement! But now what? That account balance you’ve been building up for years suddenly needs to transform from a growing nest egg into actual income you can live on. If you’re scratching your head about what to do with … Read more
Have you ever worried about Social Security suddenly cutting off your payments? Maybe you’ve heard stories from friends or family members who experienced unexpected interruptions in their benefits I’ve been researching this topic extensively, and I want to share what I’ve learned about when and why Social Security might stop sending those critical monthly checks … Read more
Are you wondering if your income is too high for a Roth retirement account to be beneficial? You’re not alone. The conventional wisdom in financial planning suggests minimizing current tax liability whenever possible, but this approach isn’t always best for everyone – especially high earners. I’ve spent countless hours researching this topic, and I’m gonna … Read more
It’s not hard to understand why Roth IRAs are popular – who wouldn’t want to build up a savings account that can provide tax-free income during retirement? But contributing to a Roth can be difficult to do as it requires compensation income, and total income that falls under a certain threshold. Fortunately, there is a … Read more
If youre like many people, you dont buy into the traditional definition of retirement. You may be planning an encore career or looking to maximize opportunities to travel. Hopefully, new adventures and new activities await you. But remember, as you redefine your retirement, consider your retirement income plan, mapping it to a budget based on … Read more
Creditors will not be able to take the death benefit payout for your life insurance policy unless you leave the money to your estate. If you name other people as your beneficiaries, the money will go to them and the creditors won’t have access to it. Policygenius content follows strict guidelines for editorial accuracy and … Read more
Are you wondering if stocks belong in your Roth IRA? You’re not alone This question pops up for practically everyone starting their retirement journey, and I’m here to help you figure it out. After researching extensively and consulting financial experts, I can tell you that yes, stocks are generally an excellent investment choice for your … Read more
Congress created the Federal Employees Retirement System (FERS) in 1986, and it became effective on January 1, 1987. Since that time, new Federal civilian employees who have retirement coverage are covered by FERS. FERS is a retirement plan that provides benefits from three different sources: a Basic Benefit Plan, Social Security and the Thrift Savings … Read more
Discover the pros and cons of of using your pension tax-free lump sum to pay off your mortgage. Although interest rates have come down from the peaks seen a couple of years ago, they’re still significantly higher than previous lows.1 With this in mind, using your pension tax-free lump sum to pay off your mortgage … Read more
