At some point, the house that once felt just right can start to feel too big—too quiet, too full of maintenance, or too expensive to keep up. Whether you’re an empty nester wondering what to do with all that extra space, a retiree looking to turn home equity into income, or a current homeowner simply…
With all the talk in Washington about the future of Social Security and Medicare, it’s no wonder many Americans are feeling uneasy. For millions of retirees, these programs aren’t just a supplement—they’re a lifeline. In fact, according to the Social Security Administration, about half of those age 65 and older rely on Social Security for…
As your wealth grows, so does the complexity of managing it. Balancing investments, taxes, and long-term planning can quickly become overwhelming—and even small missteps can have lasting financial consequences. Perhaps that’s why 95% of people who work with a registered advisor say it’s worth the investment, according to a recent MagnifyMoney survey. Yet, despite the…
The IRS rings in each new year by updating tax provisions to keep pace with inflation. These adjustments protect the real value of your tax benefits, ensuring that inflation doesn’t quietly chip away at your financial position. Understanding these changes helps you make smarter financial decisions, optimize your tax strategy, and build a stronger retirement…
Inheriting an IRA? Here’s What You Need to Know Inheriting an Individual Retirement Account (IRA) can be both a financial opportunity and a challenge. On one hand, receiving a sizable inheritance can boost your financial stability, help you achieve long-term goals, and even provide a reliable income stream. On the other hand, inheriting an IRA…
3 Advanced Roth IRA Conversion Strategies for High-Income Professionals Roth IRAs offer several benefits, including tax-free growth and withdrawals during retirement. However, not everyone can contribute directly to a Roth account due to income restrictions imposed by the IRS. This caveat can pose challenges for high earners seeking to benefit from a Roth IRA’s unique…
Retiring Abroad: Pros, Cons, and Considerations Retiring abroad has become an increasingly popular option for many Americans seeking adventure, a change of pace, or a way to stretch their retirement savings. In fact, data from the Social Security Administration shows that the number of Americans collecting retirement benefits overseas jumped from approximately 413,000 in 2017…
5 Retirement Savings Catch-Up Strategies to Help You Secure Your Financial Future Accumulating sufficient savings during your working years helps paves the way for a secure and comfortable retirement. However, many individuals find themselves facing the daunting reality of starting their retirement planning later than ideal. Indeed, competing financial responsibilities, fluctuating income levels, and even…
Can a Roth Conversion Help You Achieve Your Retirement Goals? As you approach retirement, strategic planning around your taxes can significantly impact your financial comfort and security during your golden years. One strategy that can be particularly advantageous is a Roth conversion, especially if you currently exceed the income threshold for contributing to a Roth…
One of the hardest parts about tax planning is keeping up with a tax code that is constantly changing. On December 29, 2022, President Joe Biden signed into law the Secure Act 2.0, which has significant changes affecting many aspects of tax planning and retirement planning. Among those changes are Required Minimum Distribution (RMD) ages,…