I often compare retirement income planning to trying to hit a moving target in the wind. The target is your retirement goals – essentially what you want to spend and accomplish with your finances. The target is moving because you don’t know how long you will live – your retirement could last 5 years or 40.
(Forbes) -- After finally getting around to updating my life insurance policy since my second daughter was born, and shaming my husband into getting more organized, I realized it was time to take a look at my broader estate plan.
Remember the Brady Bunch television show that extolled the joys and challenges of blended families? Mike and Carol Brady were the iconic blended family, each bringing 3 children into the marriage and raising them as one big happy family. I wonder what their estate planning looked like. Did Mike leave everything to Carol outright on his death, knowing that she would treat all 6 children equally and not favor her 3 girls over his 3 boys?
There’s been a lot of talk lately about converting traditional IRAs to Roth IRAs. This talk arises from the 2017 Tax Cuts and Jobs Act. The new tax law, commonly referred to as “Trump’s Tax Cut,” created historically low tax rates.
Asset allocation. Expense ratios. And when saving for retirement is already as challenging as it is, not fully understanding how your retirement fund works can make it all the more difficult.