Author Nick: Carina Smith
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The Senate committee on Senior Services recently passed a healthcare bill ensuring that elderly residents won’t be evicted if they are unable to pay for fees required by assisted-living facilities, provided that these residents qualify for Medicaid. Once implemented, the bill will require facilities that have surrendered their licenses to have enough money to cover [...]
As a senior who’s likely to need intensive medical attention in the latter part of your retirement, you should consider buying long-term care insurance and other tools that can help you cover medical costs. What this type of insurance does is fill in the gaps by covering whatever expenses you’ll accumulate if you need long-term [...]
If you’re an aging near-retiree or retired senior who wants to up his or her income by picking good investments so that you can enjoy some luxuries aside from paying for the costs of healthcare and assisted living, you’ll need to start as early as possible. At least, you’ll need to devise new investment strategies [...]
The fixed-income portions of a tax-efficient retirement portfolio need to be allocated properly to provide near-retirees and those in retirement with the largest net profits and lowest tax costs possible. Such a portfolio can help the senior preserve and create wealth and accumulate more assets to attain retirement security. When choosing fixed-income investments, it’s recommended [...]
If you’re a senior who wants to augment his or her nest egg with a small business, you can use your 401K or IRA funds to do so without having to pay taxes on your withdrawals or obtain a loan. This fairly unknown funding method is becoming a solution for many people who want to [...]
The Internal Revenue Service has recently published new rules surrounding the new “hybrid” retirement plans. These regulations support the hybrid or cash-balance retirement plan system by aiming to diminish investment risks of employers who want to sponsor them, as well as decrease the possibility of underfunding issues currently plaguing the US pension system. Onwards to [...]
If you’re establishing your retirement plans as a self-employed senior who’s still years away from relaxing in your golden years, or one who’s reconsidering another career away from the conventional workplace environment, there are many savings options available to you. There are a lot of options you can choose from to help you save up [...]
Keeping your job, especially in the age of longer working years and delayed retirement, is essential to the security you need when or if you finally retire. While having a backup plan for the event that you’re laid off is good, it’s better if you prevent that unfortunate situation from happening entirely. Here are some [...]
Making enough money to live comfortably in retirement is possibly the most important goal a worker should plan for, in addition to finishing a mortgage. It’s already hard to plan financially for retirement even if you work for an employer who sponsors retirement savings plans and matches your contributions in this day and age – [...]
Self-directed IRAs aren’t a large part of the retirement account industry as of yet – these plans make up less than 3% of today’s IRA market. Usually, workers think they only have access to retirement accounts that invest in bonds, stocks, or mutual funds; but the self-directed IRA allows them more investment options with which [...]
The proper placement and portioning of assets and holdings are important if you want to build a tax-efficient retirement portfolio. A good mix of certain investments that equate to overall lower risk for your portfolio also need to give you lower tax burdens and bigger net profits, which can result in a stable nest egg [...]
Ensuring that your retirement portfolio has the utmost tax efficiency is one of the key steps to attaining retirement security. Once you’ve retired, getting more of your income into savings or putting it into other investments becomes even more important, especially as you no longer have the paychecks associated with a regular job. In addition, [...]
If you’re a senior who manages your own business, you may want to look at other retirement solutions that can give your employees better benefits while giving you the ability to make tax-deductible matches to their plan contributions. Aside from SIMPLE IRAs and SEP IRAs, here are other options that can help you save money [...]
Seniors who live in assisted-living facilities don’t have it easy – many of them need to think of and do something about a number of financial and legal considerations in their golden years. The recent healthcare bill passed by the Senate may have been a huge boost, as it helps ensure Medicaid-qualified seniors won’t end [...]
Self-directed IRAs have a lot of benefits for workers who chose to transition to these from their traditional retirement accounts. For one thing, the potential boost it gives a worker’s profits through a wide and varied range of investment options allows the investor to diversify well, as compared to the trio of bonds, stocks, and [...]
Seniors who want to start their own businesses in or before retirement can use a 401K to establish a small business or buy a franchise, although this very move comes with numerous legal considerations. Why? This is because the IRS, which oversees any use (and misuse) of employee pensions, may subject your newly-created company to [...]
If the new federal rules governing them work as expected, more companies will sponsor cash-balance or “hybrid” retirement plans, despite high risk perceptions and other issues. These regulations were recently released by the US Treasury Department to enlighten workers and potential participants on the management of these savings vehicles. Self-employed workers and owners of small [...]
When it comes to personal financing for retirees, there are a number of things you can do with your money that are relatively easy, and can help you make the most out of what you have in your savings account, retirement account, investment portfolio, and other financial venues or tools. Online banking, getting a Roth [...]
Employee benefit specialists are predicting that the 401K will go the way of the dinosaurs, and in its place, another species of retirement account is about to emerge and dominate. What the industry now calls “hybrid” retirement plans is now driving the industry abuzz, as it appears more capable of helping workers attain retirement security [...]
If you run your own business, or looking forward to an “encore” career after quitting your day job, there might have been some financial matters that you’ve overlooked because you’re too busy building your empire. While things might be working out today, there are a number of things that you cannot do without – things [...]
