Retirement
Domestic partnership vs. Marriage: Which is best for you?
Only about 70% of Millennials are getting married nowadays, this is significantly lower than any other previous generation. Some of the main reasons for millennials’ decisions not to get married include; not burden their partner with student loan debt or medical debt or not wanting to pay the marriage tax. Instead of traditional marriage, many…
Read More5 Tips for Retirement Planning & Climate Change
During the best of times, planning for retirement is difficult. But now, there is no longer just a concern of prospective financial uncertainty, but also climate change uncertainty. This has left many individuals feeling unsure, to the point of paralized, when it comes to planning for retirement. If thinking about the future and climate change…
Read MoreLet Go of Frugality: How Baby Boomers Can Responsibly Invest in Enjoyment
Guest Article by Jim McKinley of moneywithjim.org. Baby Boomers were raised by parents of the Great Depression, so frugality is in our nature. It’s one thing to be responsible, and it’s another entirely to live as if we are fighting poverty daily. For many of us, we can afford to indulge ourselves and truly make…
Read MoreAmericans For Tax Reform Backs Simple Tax Form For Seniors
Westchester NY accountant Paul Herman of Herman & Company CPA’s is here for all your financial needs. Please contact us if you have questions, and to receive your free personal finance consultation! By Tax-News Americans for Tax Reform (ATR) has urged all members of Congress to support a bill aimed at simplifying tax filing for American seniors. The president of the taxpayer advocacy group,…
Read MoreRetirement investing through the decades
Westchester NY accountant Paul Herman of Herman & Company CPA’s is here for all your financial needs. Please contact us if you have questions, and to receive your free personal finance consultation! By Bankrate Investing to grow your retirement savings is a long-term project. The earlier you begin, the better, thanks to compounding interest. You don’t have to worry about saving a lot…
Read MorePlan would give retirement savers more time
Westchester NY accountant Paul Herman of Herman & Company CPA’s is here for all your financial needs. Please contact us if you have questions, and to receive your free personal finance consultation! By Bankrate I admit it. I’m thinking about retirement. Of course, I’ve been thinking about retirement since I was 30. Back then, my retirement thoughts were (mostly) about socking away money…
Read MoreBaby boomers’ 2016 birthday gift to IRS
By Bankrate Westchester NY accountant Paul Herman of Herman & Company CPA’s is here for all your financial needs. Please contact us if you have questions, and to receive your free personal finance consultation! Baby boomers reach a momentous tax birthday this year, but it’s the Internal Revenue Service that will be getting presents. The first baby boomer was born on Jan. 1,…
Read MoreRetirement Planning Means Peace of Mind in Boca Raton
Boca Raton offers beautiful beaches, world-class shopping, amazing restaurants and warm weather all year round, what’s not to love? That’s why, when thousands of Americans retire every year, many move to sunnier climates in Florida to enjoy the relaxation that comes with retirement. In a fluctuating economy, however, retirement planning doesn’t end on your last…
Read MoreSocial Security and Medicare Amounts for 2015
The annual inflation adjustments have also impacted the various Social Security amounts and thresholds for 2015.
Read MoreSeniors age 70 1/2+: Take your required retirement distribution
The tax laws generally require individuals with retirement accounts to take annual withdrawals based on the size of their account and their age beginning with the year they reach age 70½. Failure to take a required withdrawal can result in a penalty of 50% of the amount not withdrawn.
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