There are no rules of thumb as it relates to your Social Security planning, and each and every situation is different. You get one chance to make the correct claiming strategy, and you don’t want to get it wrong. But over the years of helping people plan for the overall Social Security claiming strategy, below [...]
Officer Loretta Cool was the first female to hold several positions in the department, including first female K-9 officer and first female SWAT team officer: A trailblazer for the Tacoma (Wash.) Police Department ended her career this week. In 35 years, Officer Loretta Cool was the first female to hold several positions in the department.
Norman “Dusty” Young Jr. stands at the law enforcement memorial outside the Blair County Courthouse. Young spent nearly 40 years in law enforcement positions throughout the area, starting at the Altoona Police Department and retiring Jan. 8 as a county detective for the District Attorney’s Office. Mirror photo by Greg Bock In his nearly 40-year [...]
There’s one tax mistake that can trigger a 50% penalty. I think it’s the steepest in the tax code. Of course, you might owe interest on top of that penalty. The mistake is to fail to take at least the required minimum distribution (RMD) from a qualified retirement plan, which includes IRAs and 401(k)s. The [...]
The 401(k) is one of the most powerful tools in your retirement planning toolbox, but in order to make the most of it, you'll need to have a good understanding of how it works. The most important thing you can do right now is to simply start saving. Roughly half of Americans are not contributing [...]
Preparing for retirement can be intimidating. You’re facing great uncertainties about how your financial future will unfold, with a lot at stake. Fortunately, a comfortable and sustainable retirement should be within your reach if you prepare for it properly. You’ll find that a little planning can go a long way to getting you where you [...]
On Dec. 20, President Donald Trump signed into law the imaginatively acronym-ed Setting Every Community Up for Retirement Enhancement Act (SECURE Act). The new law is mainly intended to expand opportunities for individuals to increase their retirement savings. It also includes some other important tax changes that have nothing to do with retirement. In an [...]
The new year is upon us, and so are new retirement rules and plenty of new (or soon-to-be) retirees. This year already began with major changes, now that the Secure Act is in effect as of Jan. 1. The bill passed shortly before Christmas, and will change the way workers save for retirement and retirees [...]
The five years before officially quitting full-time employment is the time to finalize your plan for the next stage in life. Pre-retirees should start taking a closer look at their financial situation and what actions they can take to bolster readiness—and confidence—as they near their last day on the job. But knowing what to do, [...]
I don’t share the opinion of some people who think making resolutions for the New Year is a waste of time. Maybe you don’t lose that extra 20 or 30 pounds or get to the gym as often as you promise yourself. But the effort could result in just enough changes to make a difference. [...]