Avoiding IRMAA Can Actually Cost You More in Retirement: A Financial Adviser Explains Why and What You Can Do Instead
For many retirees, few acronyms generate more anxiety than IRMAA. Countless articles, videos and financial discussions warn retirees to stay below the next Medicare premium threshold. But what if avoiding an IRMAA surcharge causes you to pay more over…
Shielding Your Heirs: The Expert Guide to a Tax-Free Inheritance
Dear Wealth Wise: How can I put my RMDs and cash savings back to work so I can leave a tax-free inheritance for my adult kids? — None For Uncle Sam Dear None for Uncle Sam: In the coming years, the Great Wealth Transfer is expected to produce trillions…
Your Revocable Living Trust Won’t Protect Your Assets from Long-Term Care Costs: Do This Instead
As an estate planning and elder law attorney for more than three decades, I can tell you that many people believe they’ve protected their assets by signing a revocable living trust. They haven’t. Every year, I meet intelligent, financially…
How to Build a Financial Plan Without Drowning in Advice
Financial advice has never been more accessible. However, it also has never been more overwhelming. A scroll through social media delivers budgeting tips, stock recommendations, tax strategies and conflicting opinions from influencers, friends and…
What Happens When You Inherit a House — With Your Siblings
A parent leaves the family home to you and your siblings. It may sound straightforward, but inheriting a house together can quickly raise financial, legal and emotional questions. Unlike cash, a home isn’t easily divided. One sibling may want to…
The 4% Rule Can’t Safely Determine Anyone’s Retirement Income: Here’s the Guidance You Really Need
One of the most important retirement planning questions is also one of the hardest to answer: How much can you withdraw from your portfolio each year without running out of money? A commonly cited starting point is the 4% rule. It suggests withdrawing…
What a New Flat-Rate Social Security COLA Would Mean for Retiree Taxes
Question: What if a smaller Social Security benefits increase for many retirees also meant a smaller federal tax bill for some? That’s one potential consequence of proposals floating to replace Social Security’s current cost-of-living…
I’m a Retirement Editor, But My Parents’ Estate Tripped Me Up with a Snake, a Gun and a Mystery Box
When my mother turned 90, it was clear she needed to move to assisted living. Her home was truly beautiful; as a talented artist, she had covered the walls with her bright paintings, collected antiques, and thoughtfully refined every corner of the house…
Longing for a Long Life? Here’s How Your Financial Strategy Can Help You Afford It
Living longer creates the opportunity for more — more experiences, more time with loved ones and more chances to pursue what matters most. Unfortunately, there is often a disconnect between the life people hope to enjoy and how prepared they feel to…
5 Fall Trips That Are Even Better After You Retire
One of the perks of retirement is having more flexibility to travel outside the busy summer vacation season. Instead of squeezing a trip into a limited window, you may be able to wait until crowds thin out, temperatures cool and the pace at popular…
