As the year winds down, we’re taking a moment to answer some of the listener questions we’ve received over the past few months. One listener asks how they can give meaningful monetary gifts to their kids or grandkids while staying within gift tax rules. Another listener wonders whether keeping a large sum of cash in the bank- like $150,000- is really necessary, or if that money could be working harder for them elsewhere.
You’ve heard the saying, “There’s no such thing as a bad question.” But in retirement planning… some questions are definitely better than others. The way you frame your question often determines the quality of your answer and, in some cases, the quality of your retirement. In this second installment, we pick up the conversation and dig even deeper into how asking smarter questions can shape your financial future.
Some people believe having two financial advisors means double the wisdom. But does it really equal double the problems? Today, we’ll tackle a person’s question about this very dilemma.
Some people believe having two financial advisors means double the wisdom. But does it really equal double the problems? Today, we’ll tackle a person’s question about this very dilemma.
Every fall it feels like Congress flirts with a government shutdown. But what if you’re a federal employee planning to retire right as the headlines are screaming? Does the political drama in Washington threaten your retirement date?
Well, you’re retired. Now what? Some people subscribe to the “first year rule,” which says that the majority of your best retirement months will all take place in the first year of retirement. So how can you be strategic during that first year and set the tone in the right way, both emotionally and financially?
Think Medicare is free once you hit 65? Not quite. If your income’s too high, there’s a hidden surcharge that can quietly shrink your Social Security check by thousands a year. It’s called IRMAA. And most people don’t see it coming. Let’s break down who’s impacted and how to avoid it.
The kids may be heading back to class, but it’s not a bad time for adults to hit the books too, especially when it comes to retirement. So, let’s test your knowledge with a quick financial pop quiz and see how ready you really are.
