Thinking about kicking back and enjoying retirement at 60 with $400,000 saved up? You’re not alone. This question crosses the minds of many Americans approaching their 60s who want to know if their nest egg is sufficient for an early exit from the workforce. The short answer? Yes, you can retire at 60 with $400,000—but … Read more
It’s common for recently retired people to feel a bit…lost. When you’ve been working for decades and then suddenly stop that routine, it can be jarring. But the great thing about retirement is finally having time to do all those things you’ve always wanted. If you’re looking for things to do in retirement, rest assured … Read more
Being a trustee and beneficiary of a trust is a complex role that needs to be balanced to keep it fair and legal. A trustee manages and administers the trust assets and must be impartial and in the best interest of all beneficiaries and not self-serving. A beneficiary gets benefits from the trust like distributions … Read more
The debate around annuities and whether they are a good investment choice has been going strong for years and doesnt seem like it will cease anytime soon. But instead of rehashing the usual arguments, lets look at it from a different perspective. If you are currently planning for retirement and are looking for the right … Read more
Be sure you understand the tax consequences before making the change Part of the Series Strategies to Maximize Your 401(k) If you are considering leaving a job and have a 401(k) plan, you need to stay on top of the various rollover options for your workplace retirement account. One of those options is rolling over … Read more
Choosing between a Roth IRA and a Traditional IRA is an important step in building a retirement plan that works for you. Ever stared at your retirement options feeling like you’re trying to decode a foreign language? Yeah, me too. The whole “Roth IRA vs Traditional IRA” debate can be super confusing when you’re just … Read more
Are you feeling confused about retirement accounts? You’re not alone One question that comes up frequently is whether a 403(b) and a Roth IRA are the same thing The short answer no, they’re completely different retirement savings vehicles with their own unique features and benefits. As someone who’s spent years navigating the complex world of … Read more
Over the last decade, the “financial independence, retire early” (FIRE) movement has become one of the hottest mantras for those under 60.1 But the reality is that leaving the workforce in the prime of your life requires even higher investment contributions and more severe cost-cutting than you might think. Are you dreaming of kissing your … Read more
Are you considering moving your Local Government Pension Scheme (LGPS) benefits to a private pension plan? This decision isn’t straightforward and deserves careful consideration. I’ve compiled everything you need to know about transferring your LGPS pension to help you make an informed choice. Understanding Your LGPS Transfer Options The LGPS is a defined benefit pension … Read more
Are you wondering if your spouse can take advantage of the backdoor Roth IRA strategy? Maybe you’ve heard about this retirement savings hack but aren’t sure if it works for both of you when filing taxes jointly. I’ve got good news – yes your wife absolutely can do a backdoor Roth IRA, even if she … Read more
