Don’t forget taxpayers have until July 15th to file their 1040 form and July 15th is the deadline to pay any federal taxes owed for 2019.
You’ve had three additional months to make a 2019 IRA or HSA contribution. Take note if you still need to make your contribution. Ordinarily, your deadline would have been April 15th, 2020, but just as the...
Whether you want to leave work at 62, 67, or 72, claiming the retirement benefits you are entitled to by federal law is no casual decision. You will want to consider a few key factors first.
How long do you think you will live? If you have a feeling you will live into your nineties, for example, it may be better to claim later. If you start receiving Social Security benefits at or after Full Retirement Age (which varies from...
YOU MIGHT SPEND LESS – LATER IN RETIREMENT
A 2019 whitepaper by the Employee Benefit Research Institute (EBRI) indicates that Americans tend to spend less as they age.
EBRI analyzed a study from the University of Michigan, which tracked spending levels of Americans aged 50 or older for 12 years. Looking at this data, EBRI found that households headed by people aged 75 or older typically lived on 20% to 25% less per year...
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