Managing Your Financial Future
It’s Tax Time: Here’s What You Need to Do Now- Episode 123
It’s tax time! Although tax returns aren’t officially due until mid-April, the first quarter of every year is when the forms arrive in the mail, as we start to compile information to begin the dreaded process of filing. With the myriad forms that so many people have to deal with, it’s good to know which… View Article
RMD Age Is Now Higher – But Should You Really Delay Your IRA Distributions?- Episode 122
As of 2023, the age when you must begin taking Required Minimum Distributions from your IRAs has been increased. This means you may have as many as three extra years to allow your savings to grow tax deferred. This may sound like a great idea: why pay taxes now when you can delay the inevitable… View Article
Secure Act 2.0: Your Financial Life Is About to Change- Episode 121
The SECURE 2.0 Act is now law. The legislation was signed by the president in late December of 2022, and it provides a whole slate of changes that are designed to help strengthen the retirement system—and Americans’ financial readiness for retirement. The Act itself contains dozens of provisions, building on earlier legislation that, among other… View Article
Buckets: Taking Advantage of Higher Interest Rates- Episode 120
Interest rates went up quite a bit in 2022 – did you notice? It’s a pretty sure bet that you did, since everything from mortgages to credit cards to the value of the stock market were affected. But are higher interest rates good or bad? Depends on whom you ask. To borrowers, it’s not so… View Article
It’s a New Year – Let’s Get Your Financial House in Order!- Episode 119
The new year brings with it some new opportunities, on both the planning and the saving sides. There are new contribution limits on your retirement plans, a fairly large cost of living adjustment on your Social Security benefits, a slight decrease in your Medicare premiums, and much more. Beyond that, there are also new opportunities… View Article
How Your Pension May Reduce or Eliminate Your Social Security Benefits- Episode 118
It’s a common scenario: you decide to take your Social Security early, maybe age 62 or 63, and then at age 65 you’ll begin taking your pension benefits. You’ve already calculated what both your Social Security and pension payments will be, and so you set up your budget and your lifestyle accordingly. But once your… View Article
Are Fixed Annuities Better Alternatives to Bonds?- Episode 117
In the classic 60/40 stock-bond portfolio, the stock portion is supposed to provide the gains, while the task of the bond portion is to cushion the fall when stocks are going down in value. This past year, though, things haven’t quite worked out that way. Both stocks and bonds are down in 2022, as interest… View Article
Setting Up Your Heirs for Sudden Wealth- Episode 116
If you’re accustomed to living on a certain amount each year, with fairly stable savings account balances, it can be a real shock to the system when you suddenly receive a large influx of money that alters your current financial situation. While a small percentage of people achieve this through winning some kind of cash… View Article
5 Financial Moves to Make Before the End of the Year- Episode 114
As the year winds down, your opportunity window is also closing to get some things taken care of in 2022. Taxes, retirement plan contributions, RMDs, charitable contributions — these are things that need to be done before the new year. What money moves do you need to be concerned about while there’s still time? Tune… View Article