Retirement Planning

Articles

What to Do If (When) Your Taxes Start Going Up

December 6, 2021

Not knowing what Congress will do should not stop you from planning One variable that is hard to plan for in retirement is taxes. There are steps you can take, though, despite the uncertain tax landscape. We don’t even know what the tax rates will be next year, so how can you plan for 20… View Article

Lucia Capital Group Weekly

What To Do if You Forgot Your RMD

December 2, 2021

If you’re at least 72 years old this year, here’s a really important question for you: did you take your required minimum distributions (or “RMDs”) from your pre-tax retirement accounts for this year yet? If not, it’s probably a good idea to get that taken care of sooner rather than later.

Lucia Capital Group Weekly

Tax Knowledge Is Tax Power

November 17, 2021

When it comes to financial planning and investing, knowledge is power. The more you know, the more likely you are to recognize the benefits and consequences of making certain financial moves.  This may be especially true with taxes. Most people would probably agree that if you can find a way to legally pay less in… View Article

Lucia Capital Group Weekly

What You Need To Know About Inheriting an IRA

November 12, 2021

If you inherit an IRA or a 401k, there are some rules in place that will ultimately require you to take the money out and pay taxes on it. The SECURE Act of 2019 has provisions that affect required minimum distributions, or RMDs. Do any of those rules apply to you? Here are some things… View Article

Lucia Capital Group Weekly

Is It Time to Convert to a Roth IRA?

November 4, 2021

A few years ago, Congress passed a new tax law that created some generally lower tax rates.  These rates are set to expire after 2025. If no new changes are made between now and then, rates are set to return to where they were in 2017.  In other words, they’ll go back up.   For larger conversions,… View Article

Lucia Capital Group Weekly

Your 401k: Is the Roth Option Better Than the Traditional?

October 28, 2021

Traditional 401k plans are pretty common these days, but did you know that almost 70% of employers now offer a Roth 401k option?  So if you’ve got the choice, how do you decide which one may be better?  Let’s do a little comparison first. The 401k contribution limit applies to both the Roth and traditional: for 2021, that’s… View Article

Lucia Capital Group Weekly

How Long Do You Expect to Live?

October 21, 2021

Have you thought about what might happen if the stock market dropped precipitously just as you began your retirement? What if your portfolio took a 10-, 20-, or 30-percent cut or more just when you needed the funds the most? This is what’s known as “Sequence of Returns” risk. And can be one of the biggest challenges a recent retiree can face.

Lucia Capital Group Weekly

Sequence-of-Returns Risk: What If You Retire at the Wrong Time?

October 7, 2021

Have you thought about what might happen if the stock market dropped precipitously just as you began your retirement? What if your portfolio took a 10-, 20-, or 30-percent cut or more just when you needed the funds the most? This is what’s known as “Sequence of Returns” risk. And can be one of the biggest challenges a recent retiree can face.

Lucia Capital Group Weekly

Two Roth Rules You Need to Know

September 14, 2021

The Roth IRA was made available to us back in 1998, and for many people it’s been a useful tax-advantaged tool to help save for retirement.  If you’re unfamiliar with the Roth IRA, it works like this: You put money in on a post-tax basis, and, if you follow the rules properly, any potential gains you realize from… View Article

Lucia Capital Group Weekly

Can You Reduce Your Risk Without Sacrificing Your Return?

September 8, 2021

When we meet with someone for the first time, we often find that they’re taking far more risk than they should, given their stated objectives.  They understandably like the greater potential for return, but in order to get that return, they figure they’ve got to raise the risk. And yes: risk and return do generally go… View Article

Lucia Capital Group Weekly

Are Taxes Higher or Lower in Retirement?

July 13, 2021

There are people out there who may be saving too much for retirement—and you might be one of them! Don’t get us wrong, building your savings is a good thing. In fact, we’re in the business of helping people do just that. You certainly don’t want to under-save, but over-saving can also be a problem.

Lucia Capital Group Weekly

Four Things You Must Do at Age 50

April 9, 2020

A person in their 20s seems to have just about all the time in the world – or so it may seem to them. And that may be a somewhat correct assumption when it comes to their long-term finances, like saving for retirement. But ask just about anyone who’s at least age 50, and they’ll tell you that the time went by quickly, and now that their retirement date is much closer, they realize they have far less margin for error. If you’ve reached the age of 50 and your retirement date is approaching, but still a decade or more away, you may have a unique opportunity to take care of a few very important things. In fact, making a few small changes or updates right now could potentially save you time, money and aggravation when you finally make it to retirement.