The maximum individual retirement account contribution for 2021 is $6,000 ($7,000 if aged 50 and over). The question of choosing between a Traditional IRA and Roth IRA largely comes down to when it’s most opportunistic for you to pay taxes. A Traditional IRA is a great option if you’re in your mid-to-late career and in
The ages between 62 and 65 are a critical time for determining how and when to take Social Security and Medicare benefits. There are many options when it comes to these programs, and which option is best for you will depend on your specific situation.
You’ve worked hard, met with your financial advisor, determined when to take Social Security and you are set to retire … now what? Many retirees get to this point and are not sure what the next steps are when applying for Social Security. Thankfully, you have three options!
“To everything (turn, turn, turn) There is a season (turn, turn, turn) And a time to every purpose, under heaven A time to build up, a time to break down A time to dance, a time to mourn A time to cast away stones, a time to gather stones together” “Turn! Turn! Turn!” written by
At the heart of life’s goals is our health. Having good health is central to all the plans we have.
Social Security is a critically important part of your overall financial and retirement plan that will be around for generations to come. The decision to claim or delay benefits should be carefully considered.
Just like you have a financial plan to stay on track with spending and saving, make a plan to manage your health and hopefully reduce the impact of healthcare costs in your retirement.
As parents, we never endeavor to become a burden to our children, which is why having a plan for aging in place before the time for care comes is important, as is knowing the resources available to individuals and caregivers to help alleviate some of the burden.
Earned income stops for everyone at some point, and people then need to navigate the transition from saving for retirement to spending from their investment portfolio.
Charlotte Partner Greg James recently joined WCNC’s Charlotte Today to discuss four financial strategies for retirees or near-retirees amidst the pandemic. Watch the replay.