Making Cents: Starting A Small Business In Retirement
Everyone’s vision of retirement is different. Certainly the idea of retirement in 2023 is different than it was in 1950. Today’s retiree is more active, with many to-dos on the bucket list and the time and resources to pursue their vision. To some that means starting a small business. Maybe it’s your hobby that you’ve…
Making Cents: 401K Trustees Need To Pay Attention
If you own a business, you may have been named as the trustee of the retirement plan when it was established. The trustee of a retirement plan is responsible, in short, for just about everything. In the 401K sense, that trustee is not responsible for selecting the investments for each and every participant. But that…
Making Cents: Spending Your Retirement Wisely
In today’s world of people living and working longer, the old vision of retiring and sitting on the front porch with a glass of lemonade just doesn’t cut it. Some people may continue to work because they have to, but for others it is often because they really don’t know what else they’d do with their…
Making Cents: Financial Guidance for Elders
One of the signs that someone is aging is that they simply can’t do some of the things that they used to do. When that comes to their financial decisions, it may manifest itself in their investment choices, bill paying or some sort of financial deal or scam that may not have been in their…
MAKING CENTS: Roth IRAs – A Gift to Last a Lifetime
With holiday shopping nearing its peak, maybe you can skip the lines and set your sights on a gift that will last a lifetime. Of course, I’m talking financial gifts that go beyond an envelope with a little hole in it to show the face of one of our past presidents. A gift to a child…
Making Cents: Using a Roth IRA In Your Estate Plan
The Roth IRA is a powerful financial tool. Roth IRAs are a retirement account that allow for the potential growth without taxes, have no required minimum distribution and distributions are tax free if over the age of 59 ½ and the account has been open for a minimum of 5 years. The downside to a…
Making Cents: The Financial Side of an In-Law Apartment
Elderly parents whose children are willing to allow them to live in their residence are lucky. Although I’m not sure that everyone involved in this arrangement agrees with me. There are at least three or more people that have to embrace this concept for it to be a success. For family harmony to work well,…
Making Cents: What’s The Cost of Retirement?
When it comes to retirement, the big question is how much you’d like to spend and whether or not that is sustainable. There are crazy myths or rules of thumb touted to help determine your retirement needs, but don’t believe them. The only way to know what your retirement years will cost is to spend…
Making Decisions About Your 401K After Switching Jobs or Retiring
For those who have changed jobs or retired, you have learned that you have options regarding your 401K plan post-employment. In short, you can; take the balance and spend it, keep it in the former employers 401K plan if permitted, roll it to an IRA and self-manage or roll it to an IRA for an…