Retirement

NASCAR legend Kyle Busch sues insurance company over $8.5M alleged retirement scheme

Financial Planning, Retirement

Kyle and Samantha Busch say Pacific Life and an insurance agent pushed them into a misleading insurance scheme.

LINCOLN COUNTY, N.C. — Two-time NASCAR Cup Series champion Kyle Busch and Samantha, his wife, have filed a lawsuit alleging they lost more than $8.5 million after being misled into purchasing complex life insurance policies marketed as safe retirement plans.

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10 hobbies that make retirement feel like the best years of your life

Lifestyle, Retirement

Retirement isn’t an empty calendar. It’s an invitation.

If you want it to feel like the best chapter yet, pick hobbies that compound—skills and friendships that get better with time.

Here are ten that do exactly that, plus simple ways to start.

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How the One Big Beautiful Bill Act (OBBBA) Affects Investors | Zacks Investment Management Blog

Financial Planning, Retirement, Social Security, Taxes

Digging into the One Big Beautiful Bill Act

The One Big Beautiful Bill Act (OBBBA) has been signed into law, which makes now a good time to review how the law financially affects individuals, families, and businesses. Depending on where you look, you can find sweeping praise or stern criticism of the law’s provisions. I’ll offer no such viewpoint here.

My goal instead is to give readers straightforward, objective commentary on how the bill impacts household and corporate finances, which by extension can provide clues regarding potential investment implications.

I’d like to start with what has not changed. Despite some speculation during the legislative process,

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From corner office to crossroads: navigating purpose and identity after retirement | Gaynor Parkin and Dave Winsborough | The Guardian

Lifestyle, Retirement

A few months into an eagerly planned retirement, Martin described the transition as “a seismic shift”.“I thought I had it all figured out,” he said, the frustration evident in his voice. “I’ve been so looking forward to more time in the garden, picking up the guitar again, getting into a fitness routine and planning trips with friends.

”But somehow Martin’s plans haven’t translated into meaningful experiences for him – “I feel quite lost, which is very strange for me…

Read the entire article: From corner office to crossroads: navigating purpose and identity after retirement | Gaynor Parkin and Dave Winsborough | The Guardian

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SSA Expects Megabill to Remove Tax for Nearly 90 Percent of Social Security Beneficiaries | The Epoch Times

Retirement, Social Security

Currently, out of the 58.8 million seniors who are at least 65 years old who receive Social Security income, 64 percent do not have to pay tax on these benefits, according to the report.

Once the OBBB comes into effect, 88 percent of such individuals won’t have to pay taxes on their benefits.

Read the entire article: SSA Expects Megabill to Remove Tax for Nearly 90 Percent of Social Security Beneficiaries | The Epoch Times

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You just retired (or are about to). Now what? – ABC News

Retirement

FWIW, This is EXACTLY what we do on a monthly basis with our retirement income plans… check spending against account values and adjust if necessary. ~jrs

If there’s a single group of people who are likely to be experiencing the most consternation over recent market events, it’s those who have just retired or who are on the cusp of hanging it up.

But as with most things in life, the key for new- and near-retirees making it through this period with their sanity intact is to focus on what they can control.

People who have just retired or are about to do so are vulnerable to sequence-of-returns risk, which means that a bad market shows up early in retirement. And this imperils your portfolio’s ability to last throughout your retirement years.

Read the entire article: You just retired (or are about to). Now what? – ABC News

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Rethinking retirement: Why hybrid is the new gold standard – The Press

Lifestyle, Retirement

Retirement isn’t what it used to be – and that’s a good thing.

The old model of leaving the workforce entirely at 65 and spending your days on the golf course is being replaced by something more flexible, more fulfilling, and more financially sustainable.

Today’s retirees are reimagining what this next chapter looks like, blending work and leisure in ways that fit their lifestyle, goals, and values.

This new approach is called a hybrid retirement, and it’s transforming how

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Pray, Montana, for Sale for $2.6 Million

Lifestyle, Retirement

Somewhere along the winding banks of the Yellowstone River, there’s a town where the mail still arrives by hand, the general store has been serving locals for more than a century, and the cabins carry the scent of freshly cut pine. It’s called Pray, Montana—and for the right buyer, it could all be yours.

This five-acre town, just 45 minutes from Yellowstone National Park, offers more than just property lines. Pray offers a functioning U.S. post office, giving it its own zip code and

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Are You a Retirement Millionaire Who Is Too Scared to Spend? | Kiplinger

Behavioral Finance, Lifestyle, Retirement

Bill Van Sant has seen it many times among those he has helped with retirement planning. As a managing director at Girard, a Univest Wealth Division, Van Sant has worked with several retirees sitting on piles of cash in retirement but are scared to spend.

There’s the one client who continued to pour money into an old car even though he could afford a newer one that was more reliable. Or the multiple clients who planned to travel in retirement but kept putting it off out of fear they would outlive their savings only to suffer an illness or medical condition that prevented them from realizing their dream.

Even Van Sant’s own father keeps delaying the purchase of a newer boat that has a bathroom even though he has the resources to upgrade.

Read the entire article: Are You a Retirement Millionaire Who Is Too Scared to Spend? | Kiplinger

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In retirement, live a rich life of purpose and longevity | Guest Columns | clarionherald.org

Lifestyle, Retirement

For many, retirement is imagined as a time of rest, travel and leisure. But what if this chapter of life held an even greater promise? Research consistently shows that meaningful community engagement in later years provides fulfillment and contributes to longer life expectancy.

The key? A sense of purpose.

A study in the Journal of the American Medical Association found that individuals with a strong sense of purpose were at significantly lower risk for cardiovascular disease and cognitive decline.

Read the entire article: In retirement, live a rich life of purpose and longevity | Guest Columns | clarionherald.org

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Good News About RMDs in 2023 | Morningstar

Financial Planning, Retirement

Not so long ago, the age for required minimum distributions was 70.5. It moved out to 72, and now 73 is the starting age for RMDs. That age is set to go all the way to 75 eventually, so people may be able to push off that date at which they need to take those distributions.Before Secure 2.0, people would need to roll their assets into a Roth IRA to skirt RMDs.

Read the entire article: Good News About RMDs in 2023 | Morningstar

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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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