Author: Kathleen Coxwell

Significant Changes to NewRetirement Planner: See Your Updated Projections Now

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…

Retirement in the Time of Coronavius: 15 Tips for How to Plan Your Future Amid this Health Crisis

I don’t think you need me to tell you. Life is different today than it was a few days 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…

retirement taxes

Retirement Planning and Your Taxes: Big List of Tips for Keeping More of Your Own Money

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…

movies about retirement and aging

Making Sense of Retirement — 86 Great Movies About Retirement and Aging — Updated List!

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…

state taxes

Which Are the Most Tax Friendly States for Retirees 2020?

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…

what is a health savings account

What is a Health Savings Account? And, Why It Can Be a Great Retirement Savings Option

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

Estate Taxes: Where You Live is a Big Factor for How Much Your Heirs Will Pay

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,…

financial mistake

The 21 Big Retirement Mistakes that Most People Make and 21 Easy Fixes for a Better Future!

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…

success later in life

Getting Old is for Making Money! 10 Super Surprising Facts About Financial Success Later in Life

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…

best life expectancy calculator

The 12 Best Life Expectancy Calculators and Why You Should Use One When Planning Your Retirement

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…

retirement income strategies

Retirement Income Strategies: 18 Ideas for Lifetime Wealth and Peace of Mind

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…

second career

Purposeful Ideas for Retirees Seeking a Second Career or a Big Life Change

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…

Is a Financial Advisor Worth It? 10 Tricks for Developing a Worthwhile Relationship

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…

planning mindset

Do You Have a Planning Mindset? It May Be the Right Route to a Happy Retirement

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…

retirement financial literacy

Can You Do Better than Average on this Quiz of Your Retirement Financial Literacy?

Retirement financial literacy is low. Most of us do not know very much about the fundamentals of how personal finance works. Just look at the average retirement income and you will realize that most people are unprepared and unaware of what is needed for a secure retirement. However, a survey suggests that financial literacy is…

comprehensive retirement calculator retirement scenarios

15 Scenarios to Try with a Comprehensive Retirement Calculator! Discover Real Ways to Strengthen Your Finances

Did you know that a truly comprehensive retirement calculator can do A LOT more than answer the questions most of us know to ask: When can I retire? How much do I need to retire? Am I likely to run out of money? There is so much more to retirement planning than just having enough…

New and Useful: Retirement Planner Now Has Additional Withdrawals Strategies, Tax Enhancements and More…

The NewRetirement team is always scrambling to add new and useful functionality to the NewRetirement Planner. This week we are introducing additional withdrawal strategies, better handling of capital gains on after-tax accounts, and faster, more detailed Inspector charting. Log in now to start using it or learn more below. Withdrawal Strategies You can now choose…

secure act

Important: New SECURE Act Brings Big Changes for Retirement Planning

The SECURE Act — formally known as the “Setting Every Community Up for Retirement Enhancement” Act — is designed to help people better use retirement savings and save more. However, it also has some big tax implications related to leaving behind an estate. It is important that you are aware of these changes and you…