Retirement
At 42, every extra dollar has to compete for a job. Paying off $30,000 in student loans may feel like the obvious choice. But putting that money toward debt instead of retirement could reduce your long-term savings. The decision often comes down to one number that many borrowers overlook.Why the…
Market losses typically signal investors to put a hold on big financial moves. But if you’re saving for retirement, a downturn could be one of the least expensive times to complete a Roth conversion. Missing this opportunity could cost you thousands of dollars in unnecessary taxes. Here’s why.Same Shares, Smaller…
Inheriting $500,000 in an IRA can seem like a life-changing windfall. But not knowing one important IRS rule could cost you thousands of dollars. The timing and size of your withdrawals can have a major impact on how much inheritance you ultimately keep. Fortunately, you have options to avoid an…
The sales pitch is almost irresistible: Hand over a lump sum and you will get a monthly check for life. After decades of saving, that guarantee can sound like a simple solution for retirement. What the pitch often leaves out is how much you have to give up in exchange.What…
Variable annuities are often sold on the promise of one compelling idea: you can participate in market gains without bearing the full risk of market losses. It’s an attractive pitch, especially for investors approaching retirement who can’t afford a major setback. However, the word “guarantee” inside a variable annuity contract…
Most physicians spend their 20s and early 30s in medical school and residency, which means their highest earning years tend to start later than those of other professionals. By the time doctors reach attending-level salaries, many are carrying significant student debt while also needing to make up ground on retirement…
Federal employees receive a retirement benefit package that includes a pension, a tax-advantaged savings plan and Social Security. But many do not fully understand how these benefits work, and that can mean leaving money behind. The FERS pension, the Thrift Savings Plan and Social Security each come with their own…
Planning your financial future can feel overwhelming, but the right tools can make it far more manageable. Boldin is a platform that helps simplify that process, offering detailed projections, retirement modeling and hands-on planning for DIY investors. Before committing, it’s important to understand how it works, what it costs and…
Social Security benefits can be taxed at the federal level depending on your total income in retirement. Whether you owe taxes on your benefits, and how much, depends on very old data. The IRS uses income thresholds set decades ago that have never been adjusted for inflation. As incomes and…
If retirement is on the horizon, every extra dollar you save can make a difference. That’s the idea behind Roth IRA catch-up contributions, which allow investors age 50 and older to contribute more than the standard annual limit. These additional contributions can help boost tax-free retirement savings. But eligibility rules,…
