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Ready for retirement? Not so fast. You might be surprised at some of the issues that come up for couples when they plan.

When you make financial decisions as a single person, it’s all about what works for you. When you’re in a long-term relationship, though, that changes.

Couples, even if they keep aspects of their finances separate, still need to pay attention to ways to manage retirement planning together.

If you want to have a successful retirement as a couple, start taking the following steps now. Read More

You worked hard to build your retirement nest egg. But do you know how to minimize taxes on your savings?

by: the editors of Kiplinger’s Personal Finance

You worked hard for your retirement nest egg, so the idea of paying taxes on those savings isn’t exactly appealing. If you know what you’re doing, you can avoid overpaying Uncle Sam as you start collecting Social Security and making withdrawals (including RMDs) from IRAs and 401(k)s. Unfortunately, though, retirees don’t always know all the tax code ins and outs and, as a result, end up paying more in taxes than is necessary. For example, here are 10 questions retirees often get wrong about taxes in retirement. Take a look and see how much you really understand about your own tax situation. Read More

After working hard your entire life, you may finally be at a point where retirement is right around the corner. But retiring in 2021 won’t be like retiring in any other year. That’s because we’re still in the midst of a pandemic, and that could have a serious impact on both your finances and your general plans. With that in mind, here are four important moves to make if you plan to retire in the coming year.

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Here’s what to do if you are planning to retire this year.

There’s more to financial planning than tending to an IRA. Try to make a budget that details your expected income from Social Security, pensions, retirement savings, other investments and part-time work. (GETTY IMAGES)

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For many Americans, a top resolution for 2021 is to save more money, a familiar goal from prior years. Read More

Understand how Social Security spousal benefits work to make the most of your retirement funds.

Getting a solid grasp of eligibility requirements and the best time to claim Social Security can help you maximize your spousal benefits. (GETTY IMAGES)

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Here’s a retirement planning tip for 2021: Think of your retirement savings plan as a ship passing through ocean waves. You are the captain. And it’s your job to keep that ship off shoals that could sink it. It’s your job to avoid nasty currents that can delay its progress. Read More

Retirement planning is one of your most important life tasks, and it’s essential you make a realistic assessment of your financial picture in your later years. Unfortunately, far too many people believe some dangerous myths that could leave them woefully unprepared for life after leaving the workforce.

To make sure this doesn’t happen to you, ignore these four major retirement myths forever.

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The CARES Act waived required minimum distributions from IRAs and 401(k)s for 2020, but the waiver was not extended with the most recent COVID relief package.

Even though you have all year to withdraw the money, you can calculate your 2021 RMD anytime now.  

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