Retirees face unique challenges when managing their income, particularly when it comes to taxes. This article provides an overview of tax-related issues, from taxing Social Security to the new RMD rules and determining when to tap taxable and tax-advantaged accounts.
Naming a life insurance policy’s beneficiaries should be a relatively simple task, but there are some situations that can lead to unintended and adverse consequences.
A tax credit and/or dependent-care flexible spending account might help offset some of the costs paid for a nanny, babysitter, day care, preschool, or day camp.
Compare the potential future value of tax-deferred investments to that of taxable investments.
Estimate the potential cost of waiting to purchase a long-term care insurance policy.
Estimate the future cost of an item based on today’s prices and the rate of inflation you expect.