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Financial Planning in the New Year: 5 Tasks You Can Do Today
January is traditionally the time for evaluation and new beginnings—particularly when it comes to financial planning for the new year. And this is especially true right now! The COVID-19 pandemic radically changed the financial lives of many Americans. Investment accounts went up and down like out-of-control carnival rides. The housing market came to a screeching halt, followed by a huge boom. And researchers estimate that, although the official unemployment rate stands at 6.7%, unofficially, there are likely more than 31 million Americans not working who should be. Whatever your financial experience in 2020, you aren’t alone. But the start of [...]
What You Need to Know about Working after Retirement
These days, many seniors are working after retirement. They continue to work and collect social security benefits, often as a means of earning extra income or staying active and engaged in a working community. While continuing to work has benefits, there are earning limitations that may affect your social security benefits. Before getting that new job, it’s important to understand the nuances of working while collecting early retirement benefits. Here are some important things to consider as you plan for working after retirement. Analyze your early retirement needs Once you’re in your sixties, you may decide to retire early and [...]
Income Annuities: A Good Retirement Income Choice?
Income annuities can get complicated. There are different types of annuities with many variables. Additionally, getting one started often requires handing over a large sum of money. If you are close to retirement (or in it), an annuity may be a good fit for reinvesting money tucked away in savings and CDs, mutual funds, 401(k)s and IRAs. But how do you know which is the right annuity to guarantee a predictable income stream for retirement? Meet Stan. Stan is concerned about outliving his income. He wants to enjoy his retirement without worrying about money. The thing is, he’s read about [...]
