RETIREMENTGUY

A recent column in The Washington Post by housing finance expert Jim Parrott placed much of the blame for the current housing shortage on a tax that, he argued, discourages older adults from selling their homes. I’m glad Parrott raised the important issue of seniors staying in their homes as they age. But his diagnosis is largely wrong. Tax law may play a small part in their unwillingness to move, but there are much bigger reasons that families, and policymakers, need to c

When it comes to retirement planning, there’s one financial wildcard, one blind spot that can upend the best-laid plans: the high cost of long-term care — if you ever need it. Like many people, this reporter has not given much thought to the cash cushion or funding vehicles to pay for long-term care (LTC) later in life. My wife has an LTC insurance policy she got through work 15 years ago that will offset her costs. However, despite diligently building a retirement nest egg,

The tax-advantaged retirement savings system in the United States is one of the most effective wealth-building programs in the world. Too many working Americans, however, are left behind. Their access to employer-provided retirement plans is limited, and the incentives in the retirement system fail to encourage lower-income workers to save.  Just how many Americans are left out of the retirement savings system today? We publish here the most up-to-date estimates of who lacks

Key Takeaways Traditional tax-deferred accounts that you own in your own name are going to be subject to required minimum distributions. To reduce RMDs, you should first prioritize Roth contributions. Roth contributions can be preferable to traditional tax-deferred ones, but some people still don’t have a Roth option for their company retirement plan. Converting traditional IRA assets to Roth is the second strategy to reduce RMDs. After retirement and before the RMD years can

High-yield savings accounts give you a chance to reach your savings goal quickly. How? By offering you rates that outpace inflation with no account fees or minimums. However, you want to act fast to maximize gains. The Federal Reserve cuts interest rates at its September meeting. And the smart bet is they'll do it again when they meet next week. While rate cuts can lower how much you earn, rates are still high enough to help you outpace inflation. Here's a look at the best to

Three things are true about long-term care, though many Americans don’t want to believe it: You are very likely to need it in old age. It will cost a lot more than you think. And, no, Medicare won’t pay for it. Two recent studies help explain how Americans think about the financial aspects of their long-term care needs, and why they are so poorly prepared. But the results also may hold a key to future policy solutions to the challenges of funding personal care in old age....

Health care, possibly including long-term care, may be one of your largest expenses and potential key risks when planning for retirement....

The IRS has issued final regulations addressing SECURE 2.0 Act changes regarding retirement plan catch-up contributions, including...

The One Big Beautiful Bill (OBBB) brought a considerable number of changes across a full spectrum of American institutions. With so much...

For many investors, real estate is a cornerstone of building wealth. It provides potential appreciation, steady rental income, and...

As Labor Day approaches, U.S. workers don’t seem to be in a celebratory mood, with rumblings about a possible economic downturn raising...

What are the best countries to live in right now? Ask the people who’ve moved abroad: expats. Each year, InterNations , the world’s...

President Trump's tax package, the One Big Beautiful Bill Act (OBBBA), passed the House in May and the Senate this past week. On July...

You're 62. You love your job. You're respected, productive and contributing meaningfully. You were planning to work for five more years....

With 6 million adults living with autism in the US and up to 100,000 individuals aging out of children's services annually, financial...

One of the questions retirees often have is how much they can afford to spend each year over the course of their retirement without...

When 83-year-old Harrison Ford was asked recently if he plans to retire, he didn’t miss a beat: “No. That’s one of the things I thought...

You've spent decades building your retirement fund. Now is the time to enjoy it, not lie awake worrying about scammers and identity...