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...
Many retirees launch second careers, also called bridge jobs, when they reach retirement. In 2019, a survey found that almost 40% of those who retire were going back to work. Some launched second careers because their retirement was not what they expected. Many...
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,...
The SECURE Act, or “Setting Every Community Up for Retirement” Act, became law on December 19, 2019. The idea behind this bill is to make retirement savings less complicated, and to simplify the rules of IRAs and other retirement funds. If you were over the age of...
