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How Can I Diversify My Retirement Portfolio?

Planning for retirement is a necessary, if potentially intimidating, part of being financially savvy. Retirement preparedness varies widely among people, depending on their age, education level, and gender. Still, some recent research indicates that the status of aging Americans isn't as dire as previously thought. An interesting piece from the RAND Corporation looked at retirement readiness by taking into account expected consumption patterns rather than strictly considering income replacement and found that 71 percent of Americans aged 66 to 69 are prepared. The study did note a high disparity in preparation between married and single individuals and a distinction according to educational level.1

Oct 3, 2022

What is a Realistic Rate of Return in Retirement?

The answer depends on several factors, including which assets you’re invested in and your risk profile. We’ll look at a number of risk assets to get an idea about what a realistic rate of return can be in retirement while also factoring in risk profiles.

Sep 19, 2022

What is a Good Monthly Retirement Income?

Establishing a budget is one of the most important aspects of financial security in retirement. A budget can help ensure your retirement dollars last the rest of your life, which could be decades after you stop working.

Sep 18, 2022

What Expenses Are Higher during Retirement?

What Expenses Are Higher during Retirement?

Retirement generally means stepping away from a day-to-day job you might have had for years, or even decades. It also means stepping away from a steady wage and/or salary.

Sep 2, 2022

What Is Required Minimum Distribution (RMD) And How Do You Calculate It?

What Is Required Minimum Distribution (RMD) And How Do You Calculate It?

If you’re like many in the workforce (as either an employee or a business owner), the chances are pretty good you’ve set up some kind of defined contribution plan for your retirement years. During each pay period, you’ve contributed a certain amount from your earnings to that plan, and maybe you’re taking comfort in seeing that balance grow.

Sep 1, 2022

How Much Can You Safely Withdraw from Your Retirement Portfolio?

How Much Can You Safely Withdraw from Your Retirement Portfolio?

Saving your entire career to ensure you have a comfortable nest egg in retirement is all for naught if you spend those funds too quickly.

Aug 17, 2022

What Is the Rule of 42?

What Is the Rule of 42?

When crafting and managing your investment portfolio, one of the fundamental goals is to maintain a diverse array of components. A varied selection of holdings is typically designed to seek growth and manage volatility. Most likely, you have some professional help to guide you in this journey, but you also probably influence the process in large and small ways and educate yourself on current thinking about investing.

Jul 31, 2022

How Is Retirement Income Taxed Per State? Part 5

How Is Retirement Income Taxed? Part 5

When you're planning your future, you should have a clear understanding of what your taxes will be. Keep in mind that some states will tax 401(k) and IRA account income without taxing Social Security benefits. How will income be taxed across states? Here is a guide on how retirement income is taxed in 10 states.

Jul 25, 2022

What Is Retirement Income 1099-R?

What Is Retirement Income 1099-R?

The U.S. Internal Revenue Service employs various forms to share information with taxpayers about what it knows concerning their income. One of these “form families” is a series of 1099 forms. For example, the 1099-INT reports interest income you have received, 1099-C is for canceled debts, 1099-H involves Health Coverage Tax Credit Advance Payments, and the 1099-MISC communicates miscellaneous income not classified elsewhere. The 1099-MISC is often used to report money paid to an independent contractor by a company that is not the contractor's employer. The IRS requires most of these forms to be sent by the payer by January 31 of the year after the payment was made.

Jul 24, 2022

How Is Retirement Income Taxed Per State? Part 4

How Is Retirement Income Taxed per State? Part 4

While your expenses will likely decrease once you reach retirement age, many retirees don't factor in potential taxes when budgeting out what their future expenses will be. Many states choose to tax some or all retirement income. You may also live in a state that doesn't tax any type of retirement income. Here’s an overview of how some states tax income.

Jul 22, 2022

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