Estate planning lawyers are reporting a significant rise in calls from new and existing clients wanting to make sure that their estate plans are complete and up to date. Estate plans are critical for anyone and everyone to have — no matter your net worth. If a similar thought has crossed your mind, below are…
The current economic reality is somewhat dire and the projections can seem scary. A lot of people have been and will be laid off due to coronavirus. Should this mean an early retirement for you? For most, being out of work right now is probably just a temporary situation. However, you may be using this…
I don’t think you need me to tell you. Life is different today than it was a few weeks ago. Now is not the time to be complacent nor is it time to panic. Now IS a good time to be calm and plan, prepare and strategize — for what might happen in the next…
We have got to believe that the financial crisis being caused by coronavirus will just be a blip in the long run. The fundamentals of our economy were strong and there is no reason to believe we can’t recover. However, bridging to that future may be difficult for many. You may need to consider immediate…
Episode 37 of the NewRetirement podcast is an interview with Doc G — a financially independent physician, podcaster and author — around the topics of financial independence, the transition to retirement, purpose and health. Listen Now: Don’t miss out on future episodes: subscribe on iTunes subscribe on Stitcher And, join our private Facebook Group to…
While lots might need updating in your retirement plan right now, a few big updates have been done behind the scenes to make your projections more accurate than ever. The NewRetirement team has added additional tax modeling rules as well as some other enhancements that change your data. Review the updates below and log in…
Not even retirement taxes are completely certain right now. The Federal tax payment deadline has been moved to July 15. And, it was just announced that taxpayers can also wait to file returns. Treasury Secretary Steven Mnuchin tweeted, “all taxpayers and businesses will have this additional time to file and make payments without interest or…
Here are some thoughts from Jim Seifert on the economy and retirement amid the coronavirus crisis. Jim was a serial entrepreneur from age 17 until age 40. After which he was a financial Advisor for RBC Investments and Merrill Lynch Bank of America from 40 until 58. He has an MBA and CFP(r) and worked…
Movies – like all art forms – can be a great way to explore important themes in your life. Here is our list of movies related to retirement and aging. While you should probably do more to prepare for retirement than watching movies — use a retirement calculator or consult a financial advisor for example…
There is a lot to retirement — making your money last as well as being happy, healthy and fulfilled. Here are a wide variety of books in 6 different categories about retirement and aging. This is not just about personal finance and investing. Find contemporary fiction titles and many books on finding meaning in life…
Most of us are pretty stressed by the need to give our savings a big boost as we approach retirement. Guess what? There is actually a relatively little known retirement savings strategy that can really help: Catch up contributions. Catch up contributions are the IRS’s way of making it easier for savers age 50 and…
Looking for a great place to retire? Or, wondering if the state where you live is too expensive? Property values, cost of living and lifestyle issues are all important considerations when figuring out where to live. However, don’t forget to think about state taxes. Some states are more tax friendly for retirement than others. Explore…
A Health Savings Account or HSA is a medical savings account that is attached to a high deductible health insurance plan. It can be a savvy way to save money by reducing your overall medical spending. It can also have compelling retirement savings benefits. Money can be deferred into an HSA account on a pre-tax…
Estate taxes can take a big bite out of what you leave for heirs — but unless you will be leaving more than $11 million, it is only a major factor in certain states. Currently, the federal estate tax applies only to estates valued at more than $11 million (twice that for married couples). However,…
All of us can do better when it comes to personal finance. Here are some relatively easy fixes for 21 common retirement mistakes that are probably hurting your lifestyle now and will have a negative impact well into your future. Most of these problems are shared by at least 50% of all Americans. You are…
Did you notice that making friends got harder as you got older? Sure, you probably made new connections with every new job, moves and when your children started school and got involved in activities. However, if you are like most people, you probably found it was hard to invest the time to develop and maintain…
With coronavirus scares making the global stock markets tumultuous on fears of reduced productivity, you might be worried about your own investments. Many people are asking what to do when stocks go down. The answers are not always intuitive. Here are 10 money moves (some surprising) to make when stock markets go down. 1. Do…
Episode 36 of the NewRetirement podcast is an interview with David Stein — a former institutional money manager and current world-class podcaster with 12 million downloads, author and speaker — and they discuss his new book Money for the Rest of Us: 10 Questions to Master Successful Investing. Listen Now: Don’t miss out on future…
Forget early retirement. The trends all point toward working well after the traditional retirement age of 65 – reversing earlier tendencies toward quitting work by age 62 or before. In fact, an AARP study reported that almost half of their respondents planned to have a retirement job and be a working senior into their 70s…
You might be surprised by the facts of being an entrepreneur after 50! Financial success later in life is FAR more common than you might think. Can you guess which of the following statements are fact and which are fiction? Most Entrepreneurs Worldwide are 55-64 FACT According to the Global Entrepreneurship Monitor (GEM), the highest…
Your longevity is one of the most significant unknowable factors that determine how much you need for retirement, how much you can spend, how much time you have to do the things you want to do and more. Estimating your longevity using one of the best life expectancy calculators can be a good way to improve…
We’ve spent our whole lives working, spending the money we earn and hopefully saving a little too. When we retire, everything we have ever experienced about managing our own finances gets turned upside down. We no longer earn as much or any money from work. We have to figure out how to make do with…
Lots of people “retire” to a whole new second career or a very different way of life. In fact, for the majority of retirees, retirement no longer means pursuing a life of leisure. Retirees today are finding new purpose for their “golden years.” Some people want to change their life completely. Others just want a…
A lot of people wonder if a financial advisor is worth it. Are they really worth the time, expense and hassle. It can be a sizable expense and you don’t want to make mistakes or feel uncomfortable about the process. If you decide you could benefit, it is important to choose an advisor that is…
So much of life is determined by your mindset. How you think about things can result in how things are and will be. Recent research from Wells Fargo has found that “planning is actually everything.” And, particularly true if you want to feel great about your financial future. Planning Mindset: They Key to a Happy…