If you’re one of the many Americans – particularly those in high-tax states – considering moving to a no-tax state like Florida, Nevada or Texas for your retirement, the author of today’s article cautions that successfully carrying out this tax-saving strategy is “not as simple as just buying a property and claiming that you are a resident.” He proceeds to identify five “primary domiciling factors” to be aware of – and outlines a real-world example of a zero-tax retirement relocation done right. For more, CLICK HERE.
“Let me put it this way: you wouldn’t not take your mortgage interest deduction because… you didn’t feel like it? Or it was hard?” points out the author of today’s article. And yet a surprisingly large number of Americans are not taking advantage of major tax breaks available to them – including what the author refers to as “The one retirement plan that goes completely overlooked”. For more on how to become more tax aggressive, CLICK HERE.
He’s been called the Sam Spade of money management, the financial watchdog, and the pension detective. And now he’s warning that “We are on the precipice of the greatest retirement crisis in the history of the world”, with millions of elderly in the United States alone at risk of falling into poverty in the coming decades as a result of being staggeringly unprepared for retirement. For more on what financial fraud whistleblower Ted Siedle is warning of – including why the new normal for many Americans may become “Too frail to work, too poor to retire” – CLICK HERE.
It’s an unwelcome surprise for many retirees: having to pay more taxes in retirement than when they were working. In fact, one financial security expert cited in today’s article warns that “tax-deferred retirement accounts such as a 401(k), IRA, or 403(b) can be like sitting on a tax time bomb”. What are the two main reasons Americans are paying higher taxes in retirement than when they were working, why is the tax burden on retirees likely to only worsen from here, and what’s one strategy that can help avoid the tax time bomb? CLICK HERE.
If, like many Americans, you find yourself behind when it comes to having enough saved for a financially secure retirement, one potential way to increase your retirement savings is by taking advantage of catch-up contributions. The author of today’s article cautions “Don’t fall into the trap of underestimating how much these extra contributions can potentially benefit your upcoming retirement” – and he outlines some examples in hard dollars to demonstrate how much of an impact catch-up contributions can have. For more, CLICK HERE.
According to the American College of Financial Services, Americans are not particularly knowledgeable about how to preserve their accumulated assets and create sustainable streams of income in retirement. As such, the central question of today’s article is “How do you convert your nest egg into a stream of retirement income that lasts as long as you do?” The author outlines four ways to go about doing so – whether you are willing to hand your money over to someone else, or want to hang on to it yourself. To read more, CLICK HERE.
They correctly forecasted last decade’s financial crisis and its devastating effects on many Americans – and now they are getting nervous about another meltdown when the current bull market ends. Today’s article goes to three market skeptics – including Yale economist Robert Shiller, who warned of a “catastrophic collapse of the housing and stock markets” three years before the ’08 crash – for their take on stocks, when the bull market may end, what might be the trigger – and investments they like right now. For more, CLICK HERE.
A new report from the Government Accountability Office details the serious retirement challenges that Americans are facing, and – in an effort to ward off (or at least mitigate the damage from) an impending retirement crisis in the country, is urging lawmakers in Congress to form an independent commission to study – and come up with solutions to – these challenges. From Social Security, to workplace retirement plans, to personal savings, what issues is the GAO sounding the alarm over? CLICK HERE.
Budgeting may be the cornerstone of financial success but two-thirds of Americans don’t have a budget (and the one-third that do undoubtedly don’t enjoy managing it). Given this, the author of today’s article outlines an alternative to monthly budget tracking: the First Step Cash Management System, “a cash flow system [that] almost runs itself.” For how this bucket-based system works, how much of your income the author recommends allocating to each bucket, and how you can set up your bank accounts to work with this system, CLICK HERE.
The author of today’s article used to joke that he had “the most depressing job in America”: writing about issues surrounding retirement. In fact, he argues that no progress has been made over the last two decades in improving the retirement picture for Americans, despite a variety of new laws and financial products introduced over this period that sought to do just that. Why has this been the case – and what six lessons does the author impart when it comes to giving yourself the best shot at a secure retirement? CLICK HERE.