Articles Tagged with Pensions

accessory-adult-aged-1251174-300x251“Workers aren’t the only ones who need to double-check that they’re withholding sufficient taxes. The IRS is warning retirees to ensure they’re paying enough federal income tax.”

The IRS embarked on a big awareness campaign since the summer, telling taxpayers they should review and update their withholding numbers at work to ensure that they are paying enough federal income tax. But they’re not the only ones who should be checking their numbers, reports CNBC in the article “The IRS is warning retirees of this impending surprise tax.” Retirees who fail to update withholding from pensions or annuities may be in for a surprise, and it won’t be a good one. Continue reading

investment-3247252_640-300x200“Most Americans enter retirement age with access to Social Security benefits. Many people also have Individual Retirement Accounts, including those that were funded by transferring money from workplace 401(k) plans.”

One trick to a successful retirement is to make your Social Security benefits coordinate optimally with your Individual Retirement Accounts (IRAs), says AZ Central in the article “Retirement planning: Connecting the dots between Social Security and IRAs.”

Not everyone takes a step back to think this way.  However, it is a smart thing to do. With proper planning, your retirement could lead to better results for your investments and a better decision on when to take Social Security benefits. Continue reading

money-finance-wealth-currency-68148-300x228Retirement is a balance between enjoying your golden years, taking good care of your health and balancing your finances, so you don’t run out of income too early. However, as reported by MD Magazine in the recent article “Four Big Retirement Threats and How to Protect Yourself,” there are challenges ahead, some of which you can control, others requiring preparation. Continue reading