Are you facing financial hardship due to the pandemic? Wondering if you can dip into your retirement savings without getting hit with penalties? Good news – the CARES Act created special provisions allowing penalty-free withdrawals from retirement accounts during the COVID-19 crisis Let me walk you through everything you need to know about taking money … Read more
Ever wonder what private pension income is and how it could help you in your golden years? Maybe you don’t know the difference between public and private pensions, or you’re just starting to think about how to plan for your retirement. I’m here to explain everything in plain English, no matter what the situation is. … Read more
Many Americans dream of retiring with a million-dollar nest egg —Americans in general think you need about $1. 5 million to retire—but the reality is starkly different. Using figures from the U. S. Federal Reserves Survey of Consumer Finances (updated to 2022 but released in 2025), only about 2. 5% of all Americans actually have … Read more
Yes, you can do it even if you don’t have a regular job. This is part of a series called Roth IRAs: Dos and Donts for Investing and Trading. The IRS does not allow contributions to a Roth IRA without what it calls earned income. That usually means that you need a paying job—working for … Read more
So you’re about a year away from saying goodbye to that alarm clock, those commutes, and the daily grind. Congrats! But before you pop the champagne and delete all your work emails, there’s some serious prep work to be done. I’ve helped many folks navigate this transition, and I can tell ya – the year … Read more
If a taxpayer can’t pay all of their tax debt or would have a hard time doing so, they should think about applying for an offer in compromise. Taxpayers should look for a licensed enrolled agent or a reputable accountant in their area to get help filing for an OIC from a real representative. Are … Read more
If youre retiring and you qualify for Social Securitys maximum benefit, you could pocket $3,895 per month in Social Security income in 2021. Youll only collect that much money if you begin receiving benefits at 70 years or older, though. The maximum amount you can collect this year if you file at age 62 is … Read more
Keep this ten-year retirement planning checklist on hand as you navigate saving, investing and other retirement decisions. When you purchase through links on our site, we may earn an affiliate commission. Here’s how it works. Are you ready to retire? Have you even started a retirement planning checklist? By 2030, one out of five Americans … Read more
A lot of retirees don’t know that their monthly Social Security disability and retirement benefits may be federally and (in some states) state taxable. People who get monthly benefits from Social Security should know that they can have federal income tax taken out of their benefits. For federal retirees, voluntary federal income tax withholding from … Read more
Have you ever stared at your bank account balance and wondered, “Am I keeping too much cash? Not enough?” You’re definitely not alone. With all the economic weirdness lately—stubbornly high inflation, swinging markets, and financial uncertainty—figuring out your cash sweet spot feels more important than ever. This question has been bothering me a lot lately. … Read more