A lot has been written about saving and accumulating enough for retirement. But that’s only half the battle. Once you reach retirement it is important that you manage your retirement withdrawals from various accounts as tax-efficiently as possible. Taxes will likely be one of your biggest expenses in retirement. A tax-efficient withdrawal strategy can be…
|
Steve ChenSteve founded NewRetirement after helping his mom plan her retirement and seeing the need for great free resources. He's worked at leading financial services firms like Charles Schwab and Wells Fargo, built financial services systems used by Fortune 100 companies and started another successful Internet company that focuses on life transitions.
|
Recent posts by Steve
“The most important thing you can do for your retirement is have a plan — specifically a retirement income plan. A plan covers far more than what investments to pick. Investments are the last part of the plan; the icing on the cake. They should come only after you have the main meal menu in…
Mary Beth Franklin is a nationally recognized expert in Social Security claiming strategies, she is also a frequent public speaker. And, she literally wrote the book (“Maximizing Your Clients’ Social Security Retirement Benefits,”) that retirement planning experts use to advise clients on Social Security. Here she offers you her Social Security expertise with 7 insider…
This article deals with what FIRE is, what devotees believe, who’s doing this and are there lessons for the more traditional retirement planners that NewRetirement is trying to help. What is FIRE? It stands for “Financial Independence / Retiring Early” – in a nutshell it’s about making some significant lifestyle choices immediately to try…
The road in retirement can have all sorts of twists, turns and probably some pot holes.If you’re not prepared, these bumps have the potential to derail your financial security. However, you can have a contingency plan for when the path gets rocky. A reverse mortgage can be a spare tire for your retirement — there…
If creating retirement income feels impossible, it might be because it’s a whole new ballgame for you. Learn the new rules and you can hit the retirement income home run! 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…
During retirement, most expenses decrease on average. This includes housing, clothing and transportation. But there’s one expense that has been shown to increase and consume a large portion of older American’s incomes: health and Medicare cost. The share of the 75-plus population’s total spending that goes toward health care is 15.6 percent, which is nearly…
Be sure to plan for everything that could possibly go wrong in retirement…What could possibly go wrong? You’re nearing retirement, you’ve got money set aside and you’re ready to travel, spend more time with the grandkids or in the garden, and perfect your golf swing. Unfortunately, plenty could still go wrong. You probably know to…
Financial fraud against people 50 and older is a growing concern. Older Americans lose $3 billion each year due to financial fraud and the average victim loses $120,000, according to AARP’s recent BankSafe report. Protect your retirement savings from financial fraud… Financial manipulation is subtle and can take place over a number of years, explains…
The maximum reverse mortgage lending limit remains high in 2016, allowing retirees with substantial home equity to get more money than was available in previous years. UPDATE: Lending Limits Increased in 2017! Reverse mortgage lending limits to remain high. A reverse mortgage enables homeowners age 62 and older to access their home equity in the…
