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family and money

Family and Money: Tips for Discussing Finances and Retirement with Your Loved Ones

This year family gatherings may be different (more Zoom, less slobbery kisses and heart felt hugs), but it will undoubtedly feel more important than ever to celebrate togetherness. While the focus of our gatherings will still be on love and celebration, the holidays are also an opportunity for discussions related to family and money. Like…

grateful retirement

Be Thankful and Practice Gratitude as You Near Retirement: It Improves Your Health, Happiness, and Finances Too

The holidays are the time we come together to give thanks and celebrate. It can also be a stressful time full of demands to cook, decorate and spend money. Sometimes the stresses crowd out the fun, so we have to remember to take time to be thankful and practice gratitude for our blessings. And, it…

How a Biden Presidency Might Affect Your Retirement

Joe Biden is now the President-elect, even though President Trump has vowed to fight the results in court. There are several ways a Biden presidency might affect your retirement, including lower tax benefits on 401(k) accounts and more generous Social Security benefits. Biden’s Plan for Older Americans gives specific details on what Biden would like…

qualified charitable distribution

How Making a Qualified Charitable Distribution (QCD) Can Save You Tax Money

Qualified Charitable Distributions (QCDs) are not only a way to help great causes and those in need, but they are also a way to manage your tax exposure and avoid unpleasant surprises.  For people who are at least 70 ½, and who don’t need income (or who simply want to avoid the income tax) from…

Be Happy: 10 Ways to Worry Less About Your Retirement

Don’t worry, be happy… about your retirement. The last few months have been an emotional rollercoaster for many people, and you may be feeling constantly stressed about your finances. You’re probably asking yourself, do I have enough money to be happy in retirement? If you are worried, you’re not alone. According to a survey conducted…

tax withholding in retirement

How Are Different Retirement Income Sources Taxed? And, How Does Tax Withholding Work in Retirement?

Retirement tax planning is a critical part of preparing for a secure future. The good news is that with so many possible retirement income sources, you have many different opportunities to potentially reduce your tax burden. And, you may even discover that reducing taxes can enable you to retire a little earlier than you might…

best places to retire

The Best Places to Retire: 24 Lists and Quizzes Plus Tips for Making the Best Relocation Decision for You

We all love reading lists of the best places to retire.  They interest us, peak wanderlust and they make us think about what is possible in retirement. Besides, deciding if one of the best places to retire is in your own home or somewhere far away is a really BIG and somewhat complicated decision.  Browsing…

Overcome These 12 Big Financial Planning Mistakes (You Have NOT Seen a List Like This)

Very few people are experts at managing their finances, planning retirement, building wealth, and ensuring a secure future. Effective money management is often perceived as being: 1) too hard, 2) not immediately important, 3) something you can tackle next year or 4) too expensive (if you think you need to hire an advisor).  In fact,…

Social Security 2018

Social Security Announces 1.3% Cost of Living Adjustment (COLA) for 2021

In October, the Social Security Administration announced a modest 1.3% Cost of Benefit Living Adjustment (COLA) for 2021.  How will this small increase affect retirees? The Social Security 2018 increase is big, but definitely NOT that big. The average Social Security recipients will receive a mere $20 monthly bump in 2021, which will buy you…

Podcast: JL Collins — The Simple Path to Wealth

Episode 48 of the NewRetirement podcast is an interview with JL Collins —a best-selling author and financial independence guru — and discusses the what, why, and how of Financial Independence as well as Collins’ book, “The Simple Path to Wealth”. Listen Now: Don’t miss out on future episodes: subscribe on iTunes subscribe on Stitcher And,…

Your Guide to Medicare Open Enrollment for 2021: 12 Tips for Getting Great Coverage

Tis the season… No, it is not quite time to decide whether you’ll say Happy Holidays, Merry Christmas, Bah Humbug or none of the above. It does, however, involve shopping! The 2020 Medicare Open Enrollment season is upon us and will last from Oct. 15 to Dec. 7. Now is the time to assess your…

Didn’t Save Enough for Retirement? Don’t Worry: Here Are 10 Tips for Making it Work

If you think you haven’t saved enough for a truly secure retirement, think again.  The impossible could become possible with these 10 creative ways to retire. You see, saving diligently your entire life and then quitting work to play bridge is only one way to get to retirement. And, the odds are that it is…

Changes Coming to Social Security & Medicare: Small COLA and 6 Other New Developments for 2021

To say that Social Security and Medicare are important to the financial well being of seniors would be an understatement. Sixty-two percent of eligible beneficiaries rely on Social Security income for more than half of their income. And almost everyone who is eligible uses Medicare to help fund their healthcare after 65. Here are the…

How Do You Compare? Average Cash, Savings, Home Equity and Other Balances

According to reporting from the Transamerica Center for Retirement Studies, retirees have a wide variety of savings and investments.  Here are the average cash, savings, and home equity balances in the U.S.  Keep reading to see how your accounts and investment types compares to that of most retirees.  Use the NewRetirement Planner to see your…

enjoyable retirement

11 Bold Fun Tips to Help You Plan and Enjoy Retirement: Make it Awesomely Satisfying!

An enjoyable retirement is the goal, right? You work your whole life and hopefully create and follow a plan so that you can kick back and do what you want to do when the time comes. Well, a recent survey from Nationwide suggests that all is not going according to plan for many retirees. The…

how to retire abroad

How to Retire Abroad: 12 Tips for Retirement Overseas

Are you wondering how to to retire overseas? If so, you’re in good company! Retiring Overseas Has Almost Doubled in Popularity Retiring abroad has become increasingly popular.  According to the Social Security Administration, the number of retirees who draw Social Security outside the U.S. jumped 40%, to more than 413,000 between 2007 to 2017. And,…

getting old is optional

Growing Old is Optional! 14 Stories of Amazing Accomplishments by People Older than You

Age is just a number.  In fact, even the word “old” means less and less these days as many of us stay healthy and active well past the traditional retirement age of 65.  Is 80 the new 40?  Or, is 100 a better benchmark age for enjoying life and achieving interesting things? Preparing for retirement…

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