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In-depth guides on the retirement planning topics that matter most.
Cybersecurity is a prominent subject in the news these days, from email hacking to corporate data breaches to cyber weapons. With so much of our commerce being transacted digitally, it is imperative that everyone focus on addressing their vulnerability on a personal level rather than simply hope that your financial institutions are secure. We have written an article that covers all aspects of the problem and provides a checklist of what you must do to protect yourself. You really need to learn more about cyber security.
Social Security (along with Medicare) may be the most important retirement planning subject that you need to get right, especially since there is little chance of a “do-over” if you select the wrong (or least effective) claiming option. We recommend the use of a modeling tool that takes your projected Social Security benefits and analyzes hundreds of possible claiming options to present you with the best solution, as well as a method of comparing alternatives. Learn how this tool can give you more confidence in your ultimate decision.
Medicare: If you are working and contributing your Medicare taxes until you turn 65, and sign up for Medicare Part A and Part B, as well as the optional Part D and a Part B supplement, you can at least avoid the pitfalls inherent in a late enrollment. But what if you're still working at 65 and beyond? There are many circumstances that can cause your enrollment to be delayed or your monthly cost to increase. You need to know these Medicare pitfalls long before it's time to enroll.
Required Minimum Distributions: What should be a simple annual transaction can be fraught with peril. Get your RMD wrong, and the IRS can charge you a substantial penalty on the difference between the amount you withdrew and the amount you were required to withdraw. Do you have non-deductible contributions in any of your IRA or employer accounts? Make sure you handle the tax on the withdrawal properly. Do you know what a Qualified Charitable Distribution is? How about a Qualified Longevity Annuity Contract? Learn about these complications to the IRS RMD rules to properly plan for your retirement.
Reverse Mortgages: What do Jerry Orbach, Robert Wagner, Henry Winkler, Fred Thompson and Tom Selleck have in common (besides their celebrity status)? They have all been spokespersons for various reverse mortgage companies. Oftentimes, something that is heavily marketed can be a bad investment. However, like most financial planning solutions, a reverse mortgage has a specific purpose that can provide a particular benefit or address a measurable risk. As you approach age 62 (the minimum age allowed for a reverse mortgage), you should understand the benefits and risks involved with reverse mortgages.