Retirement? Exciting!

Taxes? Painful.

But if you aren’t prepared to handle taxes in retirement (or just decide not to put any thought into them because they’re painful), you stand to miss out on massive tax savings – tens or hundreds of thousands of dollars - and possibly never even realize that you did.

When someone retires today, they burden is on the worker to ensure their assets are enough. What’s “enough” can vary dramatically from person to person, especially when you factor in longevity - especially a longevity projection based on your unique health and family history.

Retirement is approaching, and it’s time to start thinking about income without a full-time job. One of the income sources that’ll provide a steady, predictable stream of monthly income: Social Security.

When planning for retirement, most people focus on how much they need to save, the rate of return they might expect, and how much they’ll have once they retire. However, like descending a mountain after a climb, withdrawing money in retirement requires an entirely different set of skills and presents an entirely new set of perils to be aware of, especially sequence of returns. This concept can significantly impact how long your retirement nest egg lasts, especially when you start withdrawing money.

Retirement is often seen as a time of relaxation and financial freedom, but for many, carrying debt into retirement is becoming increasingly common. The question is: is it good or bad to retire with debt? And how many people are actually doing it? In this blog post, we’ll explore the implications of retiring with debt, the types of debt most retirees carry, and strategies for managing it effectively.