Retirement
Once you retire, the purpose of your investment portfolio often changes. Instead of concentrating primarily on growth, many retirees focus on generating reliable income to supplement Social Security, pensions or other sources of income. Choosing the right investments to add income after retiring can help support day-to-day expenses while managing…
Annuities are a common financial product used in retirement planning, but their compensation structure isn’t always easy to understand. Many investors are familiar with the basic concept of exchanging a lump sum for a stream of guaranteed income, but fewer are aware of how financial advisors are compensated when recommending…
Long-term care is one of the most significant expenses many retirees face. Annual costs can easily exceed $100,000 for nursing home care, with tens of thousands more for in-home or assisted living services. And for those without dedicated insurance or the savings to cover care, tapping a 401(k) may seem…
For high earners who’ve already maxed out their 401(k) and Roth IRA contributions, the mega backdoor Roth offers a rare opportunity to push tens of thousands of additional dollars into tax-free retirement savings each year. In 2026, the strategy allows eligible savers to contribute up to the overall 401(k) limit…
Retirement does not end your tax bill. It changes where taxes come from, when they are triggered and how much control you have over them. Instead of wages and payroll withholding, retirees may rely on Social Security, pensions, traditional IRA or 401(k) withdrawals, taxable investment income, capital gains and required…
While obtaining coverage past age 75 comes with challenges, including higher premiums and more limited options, several types of policies remain available that are specifically designed for older adults. Taking advantage of these options can provide much-needed protection from financial burden for your family during an already difficult time, or…
Converting your 401(k) to a Roth IRA can be one of the smartest moves for your retirement strategy. However, it comes with an immediate price tag that catches many investors off guard. A traditional 401(k) rollover to a traditional IRA is tax-free, Roth conversions are not. Moving money from a…
On April 30, 2026, President Trump signed an executive order aimed at closing the retirement-savings gap for those without 401(k) plans through the creation of TrumpIRA.gov. The federal platform is designed to connect uncovered workers with low-cost individual retirement accounts and pair those accounts with the Saver’s Match, created under…
When you take money from your 401(k) through a withdrawal, rollover or loan default, the IRS requires specific reporting on your tax return. The forms you receive, what each figure represents and how to report them correctly can affect both what you owe and whether you face penalties for errors…
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…
