COVID-19 left many people short on cash in 2020. Layoffs, furloughs and cut hours meant less income. As challenging and stressful as it is taking a pay cut, even a temporary one, there are some ways to use it to your advantage. If you experienced an income loss steep enough to knock you down a […]
How to use a Deferred Compensation Plan for Retirement
If you dream of retiring early, it’s definitely possible – though not without plenty of advance planning and saving. One roadblock you’ll have to plan for is that you won’t have access to Medicare until you hit full retirement age, which is 65 for most people. So, what should you do until then? When I […]
Continuing Care Retirement Communities – What You Should Know
As your parents age, you will probably start discussing plans for their care later in life. Some people might want or need to move to an assisted care facility or senior living community, others might want to stay in their home for as long as possible. Whether you’re planning for your parents or yourself, it’s […]
Important Deadlines to Know for Your Retirement Plan
If you want to maximize the benefits of your retirement plan, it’s important to note the deadlines that go along with them. Not all retirement plans should be, or can be, set up at the same time. And if you want the tax benefits of your plan, there is a cutoff date to apply your […]
Social Security: When to Take Benefits if One Spouse Earns More
I wrote recently about the benefits of waiting until age 70 to file for social security benefits. But this isn’t the best option for everyone. It’s common for one spouse to make more money, even significantly more, than the other spouse. If this is your own situation, here is what I often recommend for couples […]
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