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Retiree Challenge: Making Your Money Last

The ultimate goal for most retirees is making sure their assets last as long as they live. And because of increased longevity, managing cash flow is more critical than ever. While many variables come into play, there are a number of planning moves that can help retirees live within their means and make appropriate adjustments in response to changes in income and expenses. Tools for the Task If you are retired or about to retire, you will need to clarify …

Understanding Minimum Distribution Rules

If you’re approaching retirement, you’ll eventually need to make serious decisions about when to begin taking withdrawals (known as distributions) from your retirement accounts, how to receive the money and how to calculate the taxes you’ll owe.* Fortunately, the rules governing required minimum distributions (RMDs) have been simplified in recent years. Still you should exercise caution to ensure that you’re following the rules correctly. The Basics Many people begin withdrawing funds from their IRA and 401(k) soon after they retire. …

Now That You’re Retired, Maximize Your Retirement Income

Although much of the last decade has been an exception, historically, stock returns have outpaced inflation by the widest margin and have provided the strongest returns over the long term. Those long-awaited golden years have arrived, and you’re enjoying a well-deserved retirement. You’ve saved and invested wisely to provide a financial cushion. Where do you go from here? Factor in Inflation You may want to start by considering the impact of inflation. With longer life expectancies, the need to finance …

Lifestage Investing: Strategies for the Ages

Investing is a lifelong process. And regardless of what financial stage of life you’re in, you’ll have to decide what your needs are and how comfortable you are with risk. From there, however, the actual investment strategies that you decide to implement probably should reflect your current lifestage. Why? Because as your investment goals change over time, your asset allocation will likely need to change as well. Time and Risk Tolerance All investing involves a certain amount of risk. But …

Gearing Up for a New Beginning — Retirement

People who are getting ready to wrap up their careers and leave the working world often refer to retirement as “a new chapter” or “the next act” in their lives – and rightly so. As a pre-retiree, you may have even used those analogies yourself. But do you also realize that it’s possible to play a leading role in determining how your retirement story will unfold? An Outline for Success You can start by plotting out exactly which options, resources …

A Strategy to Pursue Your Retirement Goals and Beat Inflation

Your retirement plan is designed to help you meet two important objectives — beating inflation and pursuing your retirement savings goals. The challenge is finding the right mix to strive for both. Why Be Concerned With Inflation? Technically defined, inflation is the rising cost of goods and services over time. Like termites invisibly gnawing at the foundation of a house, inflation slowly eats away at the value of a dollar over time. Inflation can also impact the success of your …

Asset Allocation: Keeping Your Balance

Maintaining a portfolio with a mix of stocks and bonds that suits your risk tolerance and time horizon, a practice known as asset allocation, has been a fundamental tenet of investing for a long time. Although asset allocation does not assure a profit or protect against loss in a declining market, investors who base their investment strategy on a target asset allocation may find it easier to stick with it when the stock market experiences significant ups and downs. One …

Stretch IRA: A Handy Estate-Planning Tool

A stretch IRA is a traditional IRA that passes from the account owner to one or more younger beneficiaries at the time of the account owner’s death. Since the younger beneficiary has a longer life expectancy than the original IRA owner, he or she can “stretch” the life of the IRA by receiving smaller required minimum distributions (RMDs) each year over his or her life span. More money can then remain in the IRA with the potential for continued tax-deferred …

Transferring Wealth with a Stretch IRA

Want a way to flex some retirement planning muscle? Then consider a “stretch” (inherited) IRA. Not only can this strategy preserve wealth for future generations, it also has the potential to keep assets growing in a tax-deferred account for years to come. Here’s the inside scoop, based on one hypothetical family situation. One Scenario Imagine that George has accumulated $50,000 in a traditional IRA. His wife, Amy, should be well cared for through a $500,000 life insurance policy, his work …

Roth IRAs — Powerful Planning Tools for All Generations

If the current income restrictions associated with Roth IRAs prevent you from using one for your own planning purposes, consider taking steps to ensure that your children or other younger family members establish and fund a Roth IRA of their own. Roth IRAs offer ample tax benefits for retirement — particularly for younger investors. Yet perhaps the more long lasting benefit of the Roth IRA can be realized when it is used as a wealth transfer mechanism. Roth IRAs for …

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