Information and advice on buying additional pension from the NITPS including how much it will cost, how to buy it and the effect of unpaid leave. If you’re a teacher wondering about ways to enhance your retirement income, you’ve probably asked yourself: “Can I buy extra years on my teachers’ pension?” The short answer is … Read more
Many savers have made after-tax contributions to a 401(k) or other defined contribution retirement plan. If your account balance contains both pretax and after-tax amounts, any distribution will generally include a pro rata share of both. Example: Your account balance is $100,000, consisting of $80,000 in pretax amounts and $20,000 in after-tax amounts. You request … Read more
It’s not always as simple as a flat fee for their services. Annuity commission is an essential aspect of the retirement planning landscape, and understanding them can make a significant difference in your financial future. Need help choosing the best annuity for your unique situation? Have questions about getting an annuity? If so, it’s best … Read more
Unfortunately, the answer to this question is yes, an executor can be held liable. If you have an attorney, ensure that they are a qualified probate attorney. There are many things an Independent Executor should know in order to make sure they fulfill their position properly. A qualified attorney will tell you exactly what you … Read more
When you purchase through links on our site, we may earn an affiliate commission. Here’s how it works. One of the last things you want to worry about in retirement is taxes. However, since taxes affect how much hard-earned money you keep, a key area, sometimes overlooked by retirees, deserves some attention: capital gains tax. … Read more
Social Security is facing questions about its long-term future, with the program’s trust funds projected to be depleted by 2034. Unless Congress acts, beneficiaries could face across-the-board cuts of about 21 percent, raising the stakes in a debate that has surfaced repeatedly in U.S. politics: Should the retirement age go up? This is not the … Read more
Many, or all, of the products featured on this page are from our advertising partners who compensate us when you take certain actions on our website or click to take an action on their website. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and … Read more
Self-employment offers amazing freedom, but let’s be honest—retirement planning gets a bit tricky when you’re your own boss. Without that corporate 401(k) plan and employer match, you might be wondering what retirement savings options you have available. Well, I’ve got great news! As a self-employed person, you absolutely can open a Roth IRA, and it … Read more
Should you really agree to give up control of your assets? There are some good reasons to get this type of trust, but there are some major drawbacks as well. When you purchase through links on our site, we may earn an affiliate commission. Here’s how it works. Despite what you may have heard, you … Read more
I kind of like the title of this article. Only one actual word (after the “intro”)…everything else is an acronym or made-up word. So, let’s first define the acronyms: As a military retiree or federal employee with military connections you’re in a unique position when it comes to healthcare options. Having access to both TRICARE … Read more
