The SECURE Act, which passed in December 2019, aimed to make retirement savings less complicated for retirees. It kickstarted significant changes to contribution ages and required minimum distributions, and the law also affected inherited IRAs for many people. If...
The COVID-19 pandemic has taken a toll on the United States economy. In June 2020, the Bureau of Labor and Statistics reported that over 40 million people had been unable to work in the previous four weeks. After younger workers (25 to 34 years of age), Americans aged...
Imagine you’ve had a retirement plan in the works for years, even decades. You’re ready to retire in 2020… and then, something completely unexpected happens. A global pandemic. There’s no denying that COVID-19 has changed our lives. For those nearing retirement age...
The term “estate planning” sometimes leads people to believe that it’s only about passing wealth down to the next generations. If you don’t have children, you may think that estate planning isn’t necessary. However, neither is true. Your estate doesn’t mean “wealth.”...
Housing costs and general cost of living vary from state to state, but the average retiree spends about $16,700 per year on housing alone, as of 2019. That includes mortgage or rent payments, insurance, property taxes, and maintenance and repairs, but not utility...
You’ve probably heard it before: you should have an emergency fund for those times when life throws you a curveball. Unexpected medical bills, car repairs, home repairs, a sudden layoff, and even pandemics can disrupt your current budget in an instant. As a retiree,...
