The end of the year tends to be a popular time for people who are looking to retire to do so. For those fortunate enough to be able to choose between a monthly pension or taking a lump sum payment, the question they must ask is, “Which one do I choose?”
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Navigating Tax Payments in Retirement: Estimated Taxes and Alternatives
Retirement changes your income – and your tax obligations. But retirement won’t eliminate your tax obligations. Learn who needs to make estimated tax payments in retirement, and some tips for avoiding it.
It’s Not the Size of the Gift That Matters
How much does it take to make a difference in someone’s life? How much money do you need to make a “transformational” impact? Every gift, no matter how big or small, can have a great multiplier effect. Keep reading. It may inspire you to see how you too can make a difference.
Should You Carry a Mortgage into Retirement?
As many of us approach retirement, one of the key financial questions homeowners face is: should you pay off your mortgage before crossing into this exciting new phase of life? There’s no easy answer. You must consider many variables, weighing both financial and psychological factors.
The Rules of Personal Record Retention
Personal record retention is always a hot topic as individuals seek to downsize their homes or simply need to purge a closet. There are certain types of documents that need to be saved, and this article outlines the specifics.
Preparing for Change: The Federal Estate Tax Exclusion and Estate Planning
Estate tax will be a hot topic as we approach December 31, 2025. Currently, the exemption amount is $13.61 million per person. However, current estate laws are set to expire, sunsetting back to the laws in effect pre-2017, and reducing the lifetime federal estate and gift tax exclusion by approximately half.
Top Ten List of Resolutions for Financial Success
New Year’s Resolutions are popular to make, but they are easily – and frequently – broken. But when it comes to being financially independent, it’s important to make some resolutions you can keep. Here’s EKS Associates’ Top 10 List of Resolutions for Financial Success.
2023 Tax Documents from TD Ameritrade and Charles Schwab
Tax time is quickly approaching. The IRS announced it will begin accepting and processing 2023 tax returns on January 29, 2024. Here is an update on when you can expect to receive tax documents from Charles Schwab and TD Ameritrade.
Bitcoins and Marshmallows
Bitcoins are buzzing in the financial industry, but many people still don’t understand them. Here’s a little background.
Does the 4% Rule Still Work?
The 4% rule is a popular retirement withdrawal strategy that suggests retirees can safely withdraw the amount equal to 4% of their savings during the year they retire and then adjust for inflation each subsequent year. Here’s how it works and why there are doubters.
A Summary of The Fed’s December Meeting
The Federal Reserve had their final meeting of the year. Here’s what they decided about interest rates.
Confusion Reigns Over New RMD Rules. We Have the Answers.
Recent changes to RMD rules are confusing taxpayers. But there is some good news to celebrate, and changes to be aware of.
How to Defeat Debt
Defeating debt is always important, but it becomes more critical as one nears retirement. Here are some strategies to help you navigate this stressful situation.