Want to spend more than 4% of your retirement savings annually without putting yourself at great risk?
It might be possible with a “dynamic withdrawal strategy.” This method of tapping one’s nest egg allows retirees at times to exceed the 4% annual withdrawal rate long considered a safe level of spending in later life.
Some millionaires are reluctant to talk to their kids about family wealth. Perhaps they are afraid what their heirs may do with it.
In a 2015 CNBC Millionaire Survey, 44% of families having at least $1 million in investable assets said that they had not yet told their children about their future inheritance. Another 27% said they had refrained from mentioning it until their children were 30 or older.1
Some debts are worth assuming, but others exert a drag on retirement saving.
If you ever have the inkling to manage your investments on your own, that inkling is worth reconsidering. Do-it-yourself investment management is generally a bad idea for the retail investor for myriad reasons.
You learn lessons as you invest in pursuit of long-run goals. Some of these lessons are conveyed and reinforced when you begin saving for retirement, and others you glean along the way.
You’ve heard it a thousand times: Take care of your retirement first, then consider whether you can afford to help an adult child financially. It’s like putting the oxygen mask on yourself before assisting your young child on a plane, they say, and then … the word “no” somehow gets stuck in your throat.
Over the past 12 months, consumer prices have increased very little. The latest Consumer Price Index (September) shows 0.0% yearly inflation and only 1.9% core yearly inflation. That means no cost-of-living adjustment for Social Security, and very few IRS adjustments to retirement plan contribution limits.1
Roth IRA & traditional IRA contribution limits stay the same for 2016. Those 49 and younger in 2016 can contribute up to $5,500 to their IRAs, while those 50 and older will be able to contribute $6,500.2 Read More
December is a time that many folks celebrate the Holiday season with a special focus on giving. What a great time of year to consider charitable gifts!
What financial, business or life priorities do you need to address for 2016? Now is a good time to think about the investing, saving or budgeting methods you could employ toward specific objectives. Some year-end financial moves may help you pursue those goals as well.
There is a mind-boggling amount of financial advice out there — so much that it can be difficult to separate the noise from the facts, or know who and what to believe.
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