Retire Ready with Rich

May 2, 2020

"Rich, like many folks our age, my wife and I have been doing a lot of thinking over the past few weeks as this whole coronavirus situation has played out. It’s a scary time for retired folks like us: in our mid 70s and both with a few underlying health conditions. We’ve been managing our health ...

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Annuities are insurance-based financial vehicles that can provide many benefits sought by retirement-minded investors. There are a number of reasons why people buy annuities. Deferral of taxes is a big benefit, and so is the ability to put large sums of money into an annuity — more than is ...

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Employer-sponsored retirement plans are more valuable than ever. The money in them accumulates tax deferred until it is withdrawn, typically in retirement. Distributions from a tax-deferred retirement plan such as a 401(k) are taxed as ordinary income and may be subject to a 10 percent federal ...

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If you leave a job or retire, you might want to transfer the money you’ve invested in one or more employer-sponsored retirement plans to an individual retirement account (IRA). An IRA rollover is an effective way to keep your money accumulating tax deferred. Using an IRA rollover, you transfer ...

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John F. Kennedy once said, “Change is the law of life. And those who look only to the past or present are certain to miss the future.” This is certainly true of preparing for retirement. If we continue to expect that the ways of the past will see us through to our futures, we will be left ...

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Tip: What’s in a Name? If you fail to name a beneficiary on your IRA, it may be much more difficult for your beneficiaries to ‘stretch’ the inherited IRA over their lifetimes. The Investment Company Institute reports that there is roughly $7.9 trillion in Individual Retirement Accounts (IRA). To ...

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Many people have heard they should avoid probate, but few understand what probate is and how the process works. What Is Probate? Probate is the legal process that wraps up a person’s legal and financial affairs after their death. During the probate process a person’s property is identified, ...

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The baby boomers have re-defined everything they’ve touched, from music to marriage to parenting and, more lately, to what “old” means—60 is the new 50! Longer, healthier living, however, can put greater stress on the sustainability of retirement assets. There is no easy answer to this ...

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Tip: Nearly 70% of workers expect to work for pay in retirement, but only 26% of retirees actually have done so.  Source: 2018 Retirement Confidence Survey, EBRI Retirement can have many meanings. For some, it will be a time to travel and spend time with family members. For others, it will be a ...

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Some of us share a common experience. You’re driving along when a police cruiser pulls up behind you with its lights flashing. You pull over, the officer gets out, and your heart drops. “Are you aware the registration on your car has expired?”  You’ve experienced one of the costs of ...

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