Financial Advice for Retirement, Social Security, IRAs and Estate Planning

Taxes

Bob Carlson of Retirement Watch on how to manage your taxes and planning strategies to pay less

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Understanding the Rules of IRA Contributions

Contributing to an individual retirement account (IRA) is an action that every account holder should be familiar with and comfortable doing.  While, on the surface, contributing may seem like a simple enough part of managing an IRA, it is actually an incredibly important pillar of the retirement finance sector. As an experienced IRA owner can […]

Closing the Door to Your Greatest Fraud Risk

The recent headlines about the theft of tens of millions of personal information from health insurer Anthem shouldn’t have been a surprise, and it is the type of action you should expect to hear about regularly. Your greatest risk of being scammed or having your identity stolen might be one you don’t suspect. The big […]

Estate Tax Tricks, Traps for Married Couples

Too many married couples are making a big mistake. They believe current estate tax law exempts them from having to plan or consider estate taxes in their plans. That misunderstanding could lead to problems. While the estate tax law enacted in early 2013 has many benefits, you need to know how to maximize them. Two […]

Planning This Year with Last Year’s Tax Return

Don’t close last yera’s4 income tax return files just yet. You should use that tax return to plan for the rest of this year and even next year. Tax planning should be a year-round activity these days, and last year’s tax return is the best place to start. The federal income tax return also is […]

The 6 Biggest Risks to your Retirement

What you don’t know about retirement can hurt you. In fact, just a few wrong decisions in your investments, taxes, or estate planning could completely derail your retirement plans. Worse yet, the rules of the game keep changing, making it harder to keep up with. For these reasons, I’ve assembled all the key points – everything you need to know — into one comprehensive report. Click here for free access.

Social Security, Inflation, and Interest Rates

Many people benefit from delaying their Social Security retirement benefits until at least full retirement age. Delaying until age 70 can be an even better deal. For years I’ve shown people how to calculate the difference using what I call the quick-and-dirty method. The method involves calculating how many years you need to live after […]

Strategies for Spending Your Nest Egg

The missing link in many retirement plans is the withdraw-al, distribution, or spending strategy. Accumulating for retirement is the easy part, and many people enter retirement with what seem to be adequate resources. Yet, a high percentage of Americans die owning their home equity and little more. Most rely heavily on Social Security to fund […]

Facts and Myths About Social Security

Almost everyone has a Social Security number and is eligible for Social Security benefits. Yet, survey after survey indicates people know little about the program and their benefits. Also, much of what people think they know is wrong. Let’s took a look at some key misunderstandings and oversights about the program. Understand benefit statements. The […]

More Ways to Boost Medical Deductions

A small percentage of taxpayers deduct medical expenses. That is partly because of the deduction limits. It also is because many people do not know all the costs that qualify for medical expense deductions. Medical expenses can be deducted only by those who itemize expenses on Schedule A. They deduct only the medical and dental […]

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