Retirement

Congress Adds New Option To Move Assets From IRA Tax-Free | Seeking Alpha

Financial Planning, Retirement

New option called Legacy IRA QCD allows for up to $50,000 in charitable donations in one tax year.

This option has its own unique rules and must be coordinated with regular QCDs.

Donor must be at least age 70½, and funds can be used to create a Charitable Gift Annuity or Charitable Remainder Trust.

Other options to meet IRA withdrawal requirements or reduce future RMDs include QLACs, QHFDs, and CGAs.

Read the entire article: Congress Adds New Option To Move Assets From IRA Tax-Free | Seeking Alpha

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10 Ways To Improve Your Retirement Routine According To A Retirement Coach | TravelAwaits

Lifestyle, Retirement

The idea of kicking back with “nothin’ to do” in retirement sounds fabulous in young adulthood or middle age when life can feel overloaded, so it comes as something of a surprise that a major complaint about retirement is having “nothin’ to do.”

Read the entire article: 10 Ways To Improve Your Retirement Routine According To A Retirement Coach | TravelAwaits

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6 Retirement Planning Mistakes To Avoid

Retirement

With the many financial obligations that we have, many of us put off planning for retirement, thinking that it is very far away in the future. Yet, retirement planning is crucial to a healthy retirement, especially considering that the rising average life expectancy of Singaporeans will mean that the vast majority of us will have a longer retirement period than previous generations.

Before you get started on your retirement planning journey, here are six mistakes to be aware of so that you can set yourself up to be in the best position to enjoy the lifestyle you desire in your golden years.

Read the entire article: 6 Retirement Planning Mistakes To Avoid

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‘Rent-a-person who does nothing’ in Tokyo receives endless requests, gratitude – The Mainichi

Industry, Lifestyle, Markets, Retirement

Beats a second career of working as a Walmart greeter, right? -Jeff

TOKYO — A 37-year-old Tokyo man who says he rents himself out to other people “to do nothing” has been inundated with gratitude from Twitter users, indicating people are happy with his new form of support.

“I’m glad I was able to take a walk with someone while keeping a comfortable distance, where we didn’t have to talk but could if we wanted to,” one user wrote. Another reflected, “I had been slack about visiting the hospital, but I went because he came with me.”

Read the entire article: ‘Rent-a-person who does nothing’ in Tokyo receives endless requests, gratitude – The Mainichi

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In Graying Italy, the Old Defy Biases Laid Bare by Pandemic | Voice of America – English

Health & Fitness, Lifestyle, Retirement

ROME – From his newsstand at the bottom of two hilly streets in Rome, Armando Alviti has been dispensing newspapers, magazines and good cheer to locals from before dawn till after dusk nearly every day for more than a half-century.“Ciao, Armando,” his customers greet him as part of their daily routine. “Ciao, amore (love)” he calls back.

Alviti chuckled as he recalled how, when he was a young boy, newspaper deliverers would drop off the day’s stacks at his parents’ newsstand, sit him in the emptied baskets of their motorbikes and take him for a spin.

Read the entire article: In Graying Italy, the Old Defy Biases Laid Bare by Pandemic | Voice of America – English

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Personal Finance: Should I Leave My Kids an Inheritance? – Bloomberg

Financial Planning, Lifestyle, Retirement

Bold retirees sport the bumper sticker “I am spending my children’s inheritance.” The sentiment might seem selfish, but it’s good financial planning.

Trying to leave a bequest could put older people in a tight spot. Finance author Chris Farrell once told me about a panicked 83-year-old woman with four kids who was on track to run out of money in three years because she was trying to save for her kids’ inheritance. She is not atypical.

Read the entire article: Personal Finance: Should I Leave My Kids an Inheritance? – Bloomberg

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1 Big Reason You May Regret Claiming Social Security at 62 | Personal Finance | mooresvilletribune.com

Financial Planning, Retirement, Social Security

As you’re preparing for retirement, one important decision you’ll need to make is what age you’ll begin claiming Social Security benefits.

The earliest you can file for benefits is age 62. This is also the most popular age to claim, with 48% of women and 42% of men filing for Social Security at this age, according to a report from the Center for Retirement Research at Boston College.

While there are advantages to claiming early, there’s also one significant risk you face that could potentially derail your retirement plans.

Read the entire article: 1 Big Reason You May Regret Claiming Social Security at 62 | Personal Finance | mooresvilletribune.com

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A Life Full of Experiences May Not Mean Less Financial Security – Behavior Gap

Lifestyle, Retirement

A couple of weeks ago, I wrote a column about the growing tribe of people who value experiences over security in their lives. But there is something that I didn’t say then that I want to emphasize: You don’t necessarily have to trade experience and financial security off against each other.

Read the entire article: A Life Full of Experiences May Not Mean Less Financial Security – Behavior Gap

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4 tips to navigate a 30-year retirement | Fox Business

Financial Planning, Retirement

Americans are living longer, which is a great thing, especially if you have the money to afford a nice, long retirement.

A new study released by Wells Fargo and the Stanford University Center on Longevity called “Planning for the 30+ Year Retirement,” finds that the average age in retirement has gone up from 13 years in 1960 to 18 years in 1990 to 20 years in 2020.

Read the entire article: 4 tips to navigate a 30-year retirement | Fox Business

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The ‘2020 Effect’ Is Stretching Retirement Income | Lake Expo Advertorials | lakeexpo.com

Lifestyle, Retirement

According to a recently released study conducted by the Schwartz Center for Economic Policy Analysis, 2.9 million older workers ages 55-70 have left the labor force since March, putting these workers “at risk of having to retire involuntarily due to increased health risks coupled with decreased job prospects.”

Read the entire article: The ‘2020 Effect’ Is Stretching Retirement Income | Lake Expo Advertorials | lakeexpo.com

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6 Unexpected Sources of Retirement Income | Business | kenoshanews.com

Financial Planning, Lifestyle, Retirement, Social Security

Retirement should be your time to relax and enjoy life, without alarm clocks and meetings. Unfortunately, saying goodbye to your boss also involves saying goodbye to your paycheck.

If you haven’t already saved ample funds to a 401(k), IRA, Health Savings Account, or a regular old savings account, you may be nervous about making ends meet. Social Security certainly isn’t going to cover your lifestyle

Read the entire article: 6 Unexpected Sources of Retirement Income | Business | kenoshanews.com

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How to leave the U.S. and retire abroad

Retirement, Travel

These days, the idea of packing your bags and retiring to an exotic location might sound tempting.

While coronavirus restrictions have put a damper on travel, people are certainly planning, or at least accessing their options, for when the pandemic passes, said Dan Prescher, senior editor at the expat website International Living.

Read the entire article: How to leave the U.S. and retire abroad

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4 Habits You Can Learn From Super Savers to Supersize Your Retirement Investments | Personal-finance | fredericksburg.com

Financial Planning, Lifestyle, Retirement

Most U.S. workers don’t contribute 90% or more of the maximum annual 401(k) contribution limit, nor do most invest at least 15% of their income in retirement accounts.

However, a small number of Americans do. They’re called “super savers” and representatives from the Principal Financial Group recently surveyed more than 1,700 of them between the ages of 20 and 54.

Read the entire article: 4 Habits You Can Learn From Super Savers to Supersize Your Retirement Investments | Personal-finance | fredericksburg.com

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To Escape Covid-19, Grandma’s Living in the Backyard – Articles – Advisor Perspectives

Lifestyle, Retirement

The pandemic has forced many families to make a difficult choice: Should elderly parents stay in retirement communities or nursing homes, or should they be brought to live at home?

Suddenly having mom or dad move in after 50 years living separately may not seem like an ideal situation for everyone’s privacy and sanity. But, by some estimates, more than 40% of deaths from Covid-19 have been of people in nursing homes or residential-living facilities for the elderly.

Faced with a difficult choice, families are landing on an alternate solution: Put up a separate, tiny house in their backyard.

Read the entire article: To Escape Covid-19, Grandma’s Living in the Backyard – Articles – Advisor Perspectives

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This 103-year-old woman just crossed an item off her bucket list: A tattoo – The Washington Post

Lifestyle, Retirement

It was early August when Dorothy Pollack — who is 103 years old — decided there was an item she needed to check off her bucket list. She wanted to get a frog tattoo.

Pollack, of Holton, Mich., was taking a car ride with her grandson’s girlfriend, Teresa Jones, earlier this month when she suddenly blurted out:“Teresa, I really think that I need a tattoo,” Jones recalled her saying. “How about if we go do it?”

“What do you say to something like that? I was shocked,” said Jones, 56, who

Read the entire article: This 103-year-old woman just crossed an item off her bucket list: A tattoo – The Washington Post

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