Disclaimer: This article is for informational purposes. I may earn commissions from the companies mentioned in this article. Established in 2003 and based in Des Moines, Idaho, Birch Gold Group (BGG) is a big name in selling valuable metals, especially for people saving up for retirement in the United States.…
Effectively managing finances can be challenging, and unnecessary financial penalties can compound the difficulty, particularly in retirement. Here are three significant penalties that retirees may encounter, along with strategies to avoid them. Missing Required Minimum Distributions (RMDs) Once you reach age 70½ and hold funds in a tax-deferred retirement account,…
Congratulations on stepping into the realm of retirement! If you’ve been diligent in your financial planning, you’re likely well-prepared to enjoy this new chapter to the fullest. However, even the most financially secure retirees can benefit from a spring cleaning of their finances. Here are some tips to help retirees…
Approaching retirement doesn’t mean your credit score becomes irrelevant. In fact, it’s quite the opposite. While you might anticipate paying off loans like your mortgage and car loan by retirement, life often surprises us. You might find yourself needing to refinance your mortgage or finance a new car, both of…
Are you a diligent saver, maximizing your contributions to retirement accounts like your 401(k) or IRAs? If so, you might be pondering the next step for any surplus funds. Should you continue investing? And if yes, how? Or perhaps consider other avenues like acquiring art or supporting your family? After…
In today’s workforce, it’s increasingly common for young professionals to change jobs frequently, marking a departure from the traditional model of lifelong employment with a single company and a generous pension plan. Fortunately, retirement savings options like 401(k) plans and individual retirement accounts (IRAs) offer flexibility, allowing individuals to transition…
We’re all aware of the critical nature of saving for retirement. Yet, carving out funds for your future can prove daunting. When finances are tight, and various expenses compete for your budget, there might seem to be little or no room left for building your nest egg. How can one…
Every retirement authority seems to echo the same advice: Hold off on claiming your Social Security retirement benefits until you hit your full retirement age (FRA). The rationale behind this unanimity lies in the fact that taking benefits prematurely before reaching FRA leads to permanently reduced benefits, posing a significant…
Determining Your Investment Strategy: Should You Factor Your Social Security Benefits into the Equation? When crafting your investment plan, a crucial consideration is asset allocation—the distribution of your portfolio among different asset classes like stocks and bonds. The ideal allocation is heavily influenced by factors such as your age and…
Each month, an impressive 61 million Americans receive various Social Security benefits, suggesting a smoothly operating system, right? Well, not exactly. While many find the process straightforward, not everyone sails through without a hitch. Some encounter unexpected obstacles along the way. Here’s a heads-up on potential stumbling blocks during your…