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Retirement
Facts You Need To Know Before Taking The Social Security Lump Sum Cash Option
gettyThe Social Security Administration still is doing a disservice by coaxing applicants into taking the optional lump sum cash payment when they sign up. The beneficiaries more than pay for it over the long term. The lump sum option isn’t…
Here Are 6 IRA Moves To Take In 2024 That You Should Review Now
gettyToo many people wait until near the end of the year to consider key IRA actions and strategies. Your after-tax wealth is likely to increase when you plan them early in the year. Here are some key steps many people should consider.…
6 IRA Moves To Take During 2024
gettyToo many people wait until near the end of the year to consider key IRA actions and strategies. Your after-tax wealth is likely to increase when you plan the IRA strategies early in the year. Here are some key steps most people should…
IRS Announces Modest Changes To Retirement Plan Contribution Limits
The 2024 Contribution Limits for Retirement Plans can be found here.Beacon Financial ServicesIn response to the current inflationary environment, the Internal Revenue Service announced a modest increase in the maximum contribution limits…
Top Social Security Strategies For Married Couples
Do your homework to decide the best way to claim Social Security benefits.gettyIf you’re married, it’s critical that you maximize the money you and your spouse will each receive from Social Security over both of your lifetimes. That’s…
Emotions, Ego, & Envy: Avoid Financial Failures With “Clear Thinking”
One of the best books of 2023—and one sure to land on my list of Advisor Resources for Financial LIFE Planning—was published near the year’s end. I’ve been following Shane Parrish’s work for years as the creator and curator of the Farnam…
How To Deal With Aging Parents Who Refuse Help With Finances
Trying to get financial control can be a highly frustrating problem for adult children. They have been appointed as agent on an impaired parent’s Durable Power of Attorney (DPOA), but the parent stops them from getting involved. The dilemma…
The Most Often Overlooked Step In Retirement Planning
A solid retirement plan begins with a vision, not a spreadsheet.Photo by Jovan Vasiljević on UnsplashWhen it comes to retirement planning, conversations often center around portfolio management and investment strategies—what…
Higher Social Security Benefits May Mean A Tax Bill For Seniors This Year
Social Security recipients could be in for an unpleasant surprise this tax season.gettySeniors saw a boost in Social Security benefits in 2023 to offset the rising cost of living. But there could be a downside—the increase may result in a…
6 Tips To Maximize Your Social Security Benefits
6 hacks to maximize your social security benefits.gettyEveryone nearing retirement always seems to have a ton of questions surrounding how to maximize their Social Security benefits. These questions range from “When should I take Social…