3 Financial Moves Retirees Need to Make ASAP in 2021

The start of a new year is a great time to get your finances in order. This is especially important for seniors who may be living on a fixed income and whose decisions about money could have a profound effect on their security in their later years. There are three specific tasks retirees should complete ASAP to make sure they're on track for a good 2021 -- and are securing [...]

January 15th, 2021|

The Most Overlooked Flaw In Your Retirement Plan And How To Fix It

Suzy rings up another customer in a party supply store. Surrounded by bright, bouncing balloons celebrating everything from anniversaries to birthdays, Suzy scans a bag of blue plastic spoons while speaking to a friend. Leaning across the checkout counter between bouquets of mylar balloons, the friend gleefully asks, “Hey Suzy! Your birthday is coming up, isn’t it?” Reluctantly Suzy responds, “Yeah, it’s the big 6-6,” as she tosses a package [...]

January 14th, 2021|

Do-It-Yourself Estate Planning Mistakes

THE ONGOING CORONAVIRUS pandemic has pushed many people to make long-delayed decisions about estate planning. Many people will try the do-it-yourself route via various websites or books. Internet DIY websites make it easy to download forms, but there are mistakes people make when they try do-it-yourself estate planning. Here are some issues do-it-yourself estate planners might run into: You need to know what to ask. Sometimes your situation is complicated. Estate laws [...]

January 13th, 2021|

3 Social Security Strategies to Bankroll Your Retirement

You'll probably count on Social Security to provide you with a fair amount of retirement income. In fact, your benefits could end up constituting your main income source. As such, it's important to approach Social Security strategically. Here are three things you can do to make the most of your benefits and enjoy retirement to the fullest. 1. Delay your filing as long as possible The monthly Social Security benefit you're entitled [...]

January 12th, 2021|

How to Claim the Saver’s Credit

LOW- AND moderate-income workers who save for retirement in a 401(k) plan or individual retirement account could qualify for the saver's credit. This retirement savings contributions credit can be claimed in addition to any tax deduction you earn by contributing to a traditional retirement account. Here's how to qualify for the saver's credit on your 2021 tax return: Check the saver's credit income requirements. Save in a qualifying retirement account, such as a [...]

January 11th, 2021|

5 reasons your credit score still matters in retirement

When you’re starting out, your credit score has a big impact on your financial health. It directly affects your ability to get a credit card or a loan, and it’s the first thing lenders check when you apply for a mortgage. But what if you’re retired? You might not think your score matters much once you reach your golden years, but it does. In fact, maintaining good credit after you’ve [...]

January 7th, 2021|