Home » A state-by-state look at the cost of retirement
Retirement

A state-by-state look at the cost of retirement

The amount you need to save for retirement can vary from about $666,000 to more than $2 million, depending on where you live, according to GOBankingRates. This analysis breaks down the cheapest and most expensive states for retirement. MarketWatch

Read More

Diversifying investments offers way to manage longevity risk

People are retiring earlier and living longer, making longevity one of the greatest risks retirees face, write portfolio managers Michael Meltzer and John Petrides. They suggest managing this risk by diversifying across investment classes and “[f]ocusing on protecting the ‘quality’ of the income stream by favoring companies with a strong…

Read More

2020 brings changes for contribution limits, Social Security, Medicare

Clients will be able to contribute more money to their 401(k)s in 2020, and legislative changes will allow for IRA contributions past age 70½. There is a 1.6% cost-of-living adjustment for Social Security in 2020, but Medicare premiums are also set to rise. CNBC  

Read More

SECURE Act to bring changes to how Americans save for retirement

Kiplinger’s tax editor Rocky Mengle explains 10 key ways the Setting Every Community Up for Retirement Enhancement Act, which President Donald Trump signed into law Friday in a financing package, changes retirement saving in the US. “While some provisions are administrative in nature or intended to raise revenue, most of…

Read More

Is it time to rethink the 401(k)?

Many Americans don’t have access to 401(k) plans, and those who do often do not save enough for retirement. Disparities in retirement savings have intensified since the Great Recession, according to the Economic Policy Institute. CNBC

Read More

Advisor: Help clients plan for being a caregiver or care receiver

Financial advisors should help clients prepare for the possibility of being either a caregiver or care receiver, writes financial planner Bryan Kuderna. IRAs and cash value life insurance can offer liquidity for those who retire early to become caregivers, while long-term-care insurance or setting aside money for a stipend to…

Read More

long-term-care-insurance

3 major retirement bills await action by the Senate

The lives of millions of Americans in retirement could be shaped by three major pieces of legislation awaiting action in the Senate, the Setting Every Community Up for Retirement Enhancement Act, the Rehabilitation for Multiemployer Pensions Act and the Retirement Security and Savings Act. It isn’t clear whether any of…

Read More

Emotional insights make for better retirement planning

An understanding of emotional and personal issues can help advisors provide additional value for clients and help them make a successful transition to retired life. Clients may face certain challenges after leaving the workforce, including a potentially diminished social circle. Financial Advisor online

Read More

Life insurance among tax-efficient ways to spend down an IRA

People looking to minimize taxes or pass their retirement savings on to heirs have a few tax-efficient options, writes F. Michael Zovistoski of UHY Advisors NY. He suggests using IRA funds to buy life insurance then hold the policy in a trust and using qualified charitable distributions. WealthManagement

Read More

Not everyone will be able to work into old age

Working longer to boost retirement savings can be a good idea, but health conditions often force people to leave their jobs. Most Americans who are at least 65 years old have multiple chronic conditions, according to the CDC. CNBC

Read More

Main office

BROOKLYN OFFICE