December 31st is the deadline for those over age 70½ with tax-deferred retirement accounts to take their required minimum distributions (RMDs) and, after outlining the rules relating to RMDs (such as that hefty 50% penalty the IRS imposes on those who fail to take their distributions on time), today’s article provides some tips for taking RMDs. When – if ever – is it beneficial to use an extension, if you are eligible for one? How can individuals fortunate enough to not need this income continue to “cling to the growth”? CLICK HERE to read more.
While ’tis the season for spending, the author of today’s article notes that “this is also the time of year when a few simple moves could also save…some coin”, and he proceeds to outline three such moves to consider before January 1st. Move #1? Think about tax-loss harvesting (including how you can take advantage of the IRS’ “wash rule” to get a tax break for losing positions in your portfolio that you still want to hold onto). To read more about tax-loss harvesting – as well as for the other two last-minute money saving moves the author identifies – CLICK HERE.
While it may not be something you are eager to do amongst holiday festivities, the financial planners cited in today’s article believe “the end of the year is the perfect time to take a look at where you are when it comes to retirement and make adjustments.” So, assuming you are willing to set aside a couple of hours before January 1st in the interest of increasing your chances of a secure retirement, what do financial planners recommend you look at and what adjustments should you make? From making sure that company stock is not putting you at risk, to thinking of an unusual expense you should plan for, and more, CLICK HERE to find out.
Today’s article notes that, with the Fed finally moving to raise interest rates, “retirees will soon be able to park their money somewhere safer than dividend-paying stocks.” However, the author does not advocate abandoning these stocks altogether, with there still being “under-the-radar dividend payers that offer considerable value for investors willing to take a little more risk.” Three such stocks are highlighted, including the biggest player in the wood pellet markets and a small Nebraska company that help hospitals run more efficiently. To read more about these three stocks, CLICK HERE.
The post-election “Trump rally” has been very good to investors. But, as today’s article notes, “retirees…have a vested interest in making sure their newly plumped-up nest eggs remain intact.” So, should retirees head for the exits in anticipation of a pullback, or would doing so likely cause them to miss out on further gains next year? The author looks at what history suggests in regards to this question – as well as the best way for retirees to go about taking profits and what “beaten-up” areas may be best to funnel those profits into. To read more, CLICK HERE.
When it comes to whether personal finances or portfolio management is more important, the author of today’s article is firmly in the personal finances camp. As such, he lays out a list of 20 personal finance rules, or “20 simple ways you can be smarter about your money.” Among these rules, why does he state that your goal should not be to live within your means, that you need to choose your neighbors wisely, and that everyone should do their own taxes at least once? Why does he state that you shouldn’t be thinking about retirement per se (and what does he argue you should be thinking about instead)? CLICK HERE to find out.
New Year’s resolutions are made to be broken (today’s article notes that only 8% of people actually follow through on their resolutions). But breaking some resolutions has greater consequences than breaking others. When it comes to resolutions pertaining to retirement goals, procrastination can have serious ramifications. As such, the author of today’s article outlines “some steps to set the right retirement goals – and actually ensure you reach them in the new year.” How can you avoid the “hedonic treadmill” of spending your raises and bonuses? Why should you treat retirement the same as your electric bill or mortgage? CLICK HERE to read more.
When it comes to a year-end bonus (or any newfound cash for that matter) you undoubtedly have a number of ideas for what you would like to do with it. But what should you do with it? Today’s article lays out five responsible options for what to do with such funds. First and foremost? Replenishing (or establishing) your emergency fund. How much is it recommended you have in your emergency fund? And what are the other “smart” options for a holiday bonus? CLICK HERE to read more.
Individual retirement accounts (IRAs) have been growing in importance on household balance sheets, and the author of today’s article notes that this is likely to continue as more and more Boomers roll over their 401(k) assets to IRAs as they retire, and as more people become aware that “some IRAs let you hold just about any kind of asset inside them – even your gold.” The unique IRAs in question? Self-directed IRAs. What are some of the “endless” investment possibilities available with self-directed IRAs and what are the advantages this unique type of account offers? CLICK HERE to find out.
While the author of today’s article does not expect that the next bear market will be as painful as the last, he notes that those approaching or already in retirement still “need to keep a sharp eye on risk.” As such, he proceeds to highlight what he believes are the best stock funds for 2017 for retirees. Specifically, these are funds that should perform well in bear markets relative to their peers and which have low expense ratios, managers who invest heavily in them, and “solid risk-adjusted returns”. To read about these six stock funds, CLICK HERE.