Retirement is a major life event that many of us look forward to. It’s a time to relax, travel, and enjoy the fruits of our labor. However, where you choose to retire can have a big impact on your overall happiness and quality of life. In this blog post, we’ll take a look at the best and worst states to retire in the United States.
Retirement planning in your 50s can feel like a daunting task, but it’s important to start thinking about it as early as possible.
When Should I Claim Social Security Benefits? Claiming Social Security benefits is a huge decision for someone who is entering retirement. Making this one decision can impact your retirement income, and your retirement planning for the entirety of your retirement. The first eligible age the you are allowed to collect Social Security benefits is age
The rule of 55 allows anyone with a 401k to use their 401k for retirement income if they are terminated, leave their job, or retire in the year they turn 55 or later without incurring a 10% penalty for being under the age of 59.5.
REQUIRED MINIMUM DISTRIBUTIONS What is a required minimum distribution? Required minimum distributions — also known as RMDs — are withdrawals the IRS says you must make from tax-deferred retirement accounts each year. The requirement to start taking these annual withdrawals occurs the year you turn age 72. What types of accounts will I need to
Retiring Early is something that many individuals strive to do throughout their working career. Whether it’s the long hours, time away from family, or the commute to the office, many workers today want to retire early.
A Roth IRA is a special IRA where you pay taxes on the dollars you invest for retirement but all future retirement withdrawal’s for retirement income are tax free.
A Roth IRA Conversion is where you move money that is pre-taxed, like in your IRA or 401k, and you move those funds into your Roth IRA.
A 72T is an IRS rule that allows someone who wants to retire early to take substantially equal periodic payments from their IRAs and avoid the 10% early distribution penalty.
The first eligible age the you are allowed to collect Social Security benefits is age 62.