Retirement Budget News, Information and Guidance

Year End Tax Advice

Don’t Forget Required Minimum Distributions and Other Year End Tax Advice for Retirees

Ah, the holidays. The festive time for family gatherings, great food, a little sparkle… and year end tax advice.  As if the season wasn’t hectic enough, this is the time you need to make sure that you do everything you can to minimize your tax burden. Make room in this hectic season for following year…

retirement checklist

Retirement Tis the Season of Spending! And Experts Say You Aren’t Spending Enough

For many, the season of spending is upon us and I don’t just mean Christmas and the other winter holidays. If you are nearing or already in retirement, you are indeed permanently in the season of spending.  You have spent a lifetime amassing savings and other resources and now is the time to use these…

cut retirement costs

20 Ways to Cut Retirement Costs: When You Are Rich in Time It’s Easy to Spend a Little Less

Most of us could benefit from cutting retirement costs. When living on a fixed income in retirement, it is very important to make sure that your income does not exceed expenses. Living more frugally can be done no matter your income bracket. And while the idea of a more modest lifestyle may not appeal to…

retirement expenses

9 Tips for Predicting Your Retirement Expenses

If you want a secure retirement, you need to predict how much you will spend on retirement expenses. Some might say that trying to predict your costs for every month for the next 15-30 years is preposterously impossible.  However, it is probably no surprise to tell you that the closer you can get to predicting…

retirement questions

Focus on How Much Will You Spend in Retirement; Don’t Worry About How Much You Need

You are probably worried that you have not saved enough for retirement and the the #1 piece of advice from most financial experts is to tell you to Save More! What if I tell you that this focus on savings has it all wrong? There is something MUCH more effective you can do to to…

hidden retirement costs

The Biggest Expenses in Retirement (No One Talks About a Huge One)

When planning for retirement, it’s important to save enough money to cover the essentials. While a financial planner may discuss earmarking funds to pay for daily living expenses, housing and health care related costs, one of the biggest expenses in retirement is something that many advisers may overlook. What Are the 3 Biggest Expenses in…

Create passive income streams

5 New and Creative Ideas for Passive Income Streams in Retirement

Passive income streams are income sources that you benefit from without too much effort — the money just flows in. Create passive income streams and just enjoy retirement…Passive income streams are therefore ideal for retirement.  In retirement we are trying to maximize the time we spend on leisure activities while minimizing work or burdensome endeavors.Here…

retirement taxes

6 Surprising Tips for Minimizing Retirement Taxes

As the saying goes, nothing’s certain but death and taxes. But, there is good news! Retirement taxes may not be as much of a burden as you may think. In fact, the peak of your tax-paying years is around age 50, when about 80% of American households pay federal income taxes. At age 65, that…

how to save money

How to Save Money and Get Out of Financial Danger

If you are worried about how to save money, you are far from alone. In case you missed the survey released last month by the Federal Reserve Board, 47% of American consumers report they would not be able to come up with $400 for an emergency without borrowing or selling something. That’s half of the…

save more for retirement

Avoid these 11 Everyday Scams to Save More for Retirement

You might not think of it this way, but most of us get scammed — somewhat tricked — out of our hard earned money every single day.  These little expenses can add up to big bucks that we could be saving for retirement and spending in our golden years.Whether it’s spending money on dumb stuff,…