Required minimum distributions, often referred to as RMDs or minimum required distributions, are amounts that the federal government requires you to withdraw annually from traditional IRAs and employer-sponsored retirement plans after you reach age 70½ (or, in some cases, after you retire). You can always withdraw more than the minimum amount from your IRA or plan in any year, but if you withdraw less than the required minimum, you will be subject to a federal penalty.
Every March 8, we reflect on the financial progress women have made (and still need to make). #BeBoldForChange
March 8 is International Women’s Day, a day to celebrate the social and economic progress and cultural achievements of women worldwide.
Although reaching retirement age certainly allows you to receive Social Security benefits, but should you? How do you know when the right time will be for you? As with anything, for each person that answer is different. Your financial planner can help you make that decision. Contact Roselyn, she will be happy to review your goals to help you make an informed choice.
If you are between 40 & 60, beware of these financial blunders & assumptions.
Between the ages of 40 and 60, many people increase their commitment to investing and retirement saving. At the same time, many fall prey to some common money blunders and harbor financial assumptions that may be inaccurate.
It might be better to wait a bit longer.
Some people retire at their first opportunity, only to wish they had waited longer. Thanks to Wall Street’s long bull run,
many pre‐retirees have seen their savings fully recover from the shock of the 2007‐09 bear market to the point where
they appear to have reached the “magic number.” You may be one of them – but just because you can retire does not
necessarily mean that you should.
If you have saved and invested consistently for retirement, you may find yourself ready to leave work on your terms – with abundant free time, new opportunities, and wonderful adventures ahead. However, the reality of your retirement may not always correspond to your conception of retirement.
When it comes to retirement planning, it isn't merely a matter of stock market performance or investment selection that makes the difference. Th ere are certain dos and don’ts that tend to encourage retirement happiness and comfort.