To try to develop the most effective retirement income strategy for the middle class, Stanford University’s Center on Longevity analyzed and compared 292 scenarios.[i] Its conclusion is a two-prong strategy. First, delay taking social security until age 70 by working...
Congress recently passed, and President Trump signed, the SECURE Act. Among other things, it pushes back from age 70 1/2 to age 72 the age when someone is required to start taking their minimum distribution from their IRA, 401k, or IRA. It also allows individuals to...
Many financial advisors are registered as both representatives of a broker-dealer and as investment-advisor representatives of an investment advisor. Investment advisors are fiduciaries who owe the client a higher oath of loyalty. They must act in their clients’ best...
Public school educators, including university professors and administrators, can save more pre-tax than any other public or private-sector employee. That’s because educators are eligible for two retirement plans, both with unique catch-up options. In 2020, educators...
The worst part of being a financial advisor is seeing a client pass away. Last year was especially tough for me, as two long-time clients of mine passed away. It is difficult to talk with beneficiaries, some of whom I meet for the first time after they suffer such a...
Self-employment can be risky, but it can be made less so with good retirement-saving options. I want to give some love to two under-appreciated retirement plans: (1) the Simplified Employee Pension (SEP) and (2) the Solo 401(k)—available to anyone who generates income...