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Spending in Retirement – An Observation

Spending in Retirement – An Observation

Most of the people I am surrounded by are first-generation wealthy and I bet very few would even describe themselves as wealthy. One of the reasons they wouldn’t describe themselves as wealthy is because, in most cases, they came from meager backgrounds so the idea of being considered wealthy in any sense of the word is almost a foreign concept. Recently, I think I stumbled across an observation I have never noticed before with regard to spending in retirement. That…

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Retirement Digest: Clearing the Clutter

Retirement Digest: Clearing the Clutter

In lieu of summarizing a great article this week, I wanted to share a thought instead. As has been noted before, when we’re approached to participate in new projects, roles, or some other activity, we are not just saying yes to that new commitment. We are, in fact, saying no to a host of other potential opportunities that are coming down the pipe. We may also, unknowingly at the time, be sacrificing the quality of our other commitments. Recently, I’ve…

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How the SECURE Act Impacts Retirement Planning

How the SECURE Act Impacts Retirement Planning

Since my brief posting about the SECURE Act (Setting Every Community Up for Retirement Enhancement), I’ve probably received more emails and questions about it than any other topic since I started this blog. So, it’s clear there are questions out there. Jeffrey Levine, with Team Kitces, put together the below comprehensive visual of the key provisions of the SECURE Act and other provisions that were included in the total legislation package. You can click the above image to be taken…

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Retirement Digest: Everything You Need to Know About Recessions

Retirement Digest: Everything You Need to Know About Recessions

My honest hope is that this site provides two things: (1) valuable information and education about retirement in an easy-to-read format and (2) an optimistic view of the world. Given that we don’t have to look far to find bad news, my goal is to provide the other side (the realistic side). Sure, there are problems that need to be addressed throughout our country and our world. But the world is improving gradually all around us, we just can’t grasp…

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Nobody Saw This Coming…

Nobody Saw This Coming…

Do you remember the stock market late in 2018? Let me remind you… The graphic above shows the last quarter of 2018 – a roughly 14% decline in a relatively short period of time. The peak to trough decline was closer to 20%. There were a litany of scary headlines about President Trump lashing out at the Federal Reserve, the slowing of corporate profits, how the trade war was impacting global growth and a partial government shutdown thanks to squabbling…

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Retirement Digest: The Best Decade in Human History

Retirement Digest: The Best Decade in Human History

The saying, “If it bleeds, it leads.” may be truer today than ever before. Over the holiday week, I accidentally watched the evening news one night and it was seriously one terrible story after another. Every news channel, whether it’s financial news or otherwise, almost never reports good news because pessimism sells a whole lot better than optimism. That’s because bad news seems important while good news is just “oh, that’s nice.” Yet, Matt Ridley, the author of The Rational…

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Retirement Digest: SECURE Act Becomes Law

Retirement Digest: SECURE Act Becomes Law

The SECURE Act (Setting Every Community Up for Retirement Enhancement Act) is going to change some things for retirees. This is the largest piece of retirement legislation passed since 2006. I plan to devote an entire article to the topic, but here are the two primary issues that will impact planning for retirees: The age for Required Minimum Distributions if going UP from age 70.5 to 72. This is a great thing offering retirees more flexibility in distribution planning. The…

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Retirement Digest: Where You Retire Matters

Retirement Digest: Where You Retire Matters

Most people approaching retirement generally retire where they spent their working years. But for some, whether you are a snowbird or just looking to relocate, the issue of state taxation can really move the needle when it comes to spendable income. At times, this can be the difference between having 10% or more in spendable income. Some states tax Social Security benefits and IRA distributions leading to a large increase in tax-outflow. Choosing your retirement state wisely can be a…

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How Much is Enough?

How Much is Enough?

We start our lives with plenty of time and good health, but no money. Then we have plenty of money and good health, but no time. Eventually, we reach retirement where we have plenty of time, and if we’re lucky, good health and plenty of money. As most people come to understand, our time and our health are the most fleeting of our resources because most can enjoy a nice life for less than they anticipated. There is a lot…

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Equifax Claim Deadline Quickly Approaching

Equifax Claim Deadline Quickly Approaching

It’s hard to believe, but the Equifax Data Breach was discovered over two years ago on September 7, 2017. Astoundingly, at the time of the breach, Equifax announced that approximately 143 million U.S. consumers were impacted. Following the settlement agreement, we are now approaching the deadline to file your claim with Equifax if you were impacted by the breach. When is the Deadline to File Your Claim With Equifax? January 22, 2020. So, there is still time if you haven’t…

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