A reverse mortgage allows you to borrow against the equity in your home. The principal limit is the maximum amount that you can receive from the reverse mortgage. This amount is determined at closing, and you are entitled to elect the payment option for how the funds will be ...
While retirement is supposed to be your golden years, don’t tell that to the tax man. The Internal Revenue Service doesn’t let you hang up your tax obligations when you stop working, and in some ...Read More
Social Security survivors benefits are designed to lessen the impact on a family when a breadwinner dies. Some retirement and pension plans also offer survivors benefits for the same reason. ...Read More
An annuity provides a regular monthly payment for retirees, usually for life. Buy an annuity from a life insurance company. To provide for a spouse, consider a joint and survivor annuity, which pays ...Read More
Under most circumstances, military retirees are responsible for paying federal income tax. The IRS taxes military retirement pay as a pension. Since military pay is taxed as a pension, the IRS can ...Read More
During your working life, you are accustomed to payroll deductions being taken from your paycheck, and how that affects the amount that you actually have available to spend. With a retirement check, ...Read More
When you are employed and move to a new location to start a new job, the IRS may allow you to deduct expenses related to your move if you meet certain conditions. This particular tax rule is of no ...Read More
Garnishment is a legal tool available to creditors to satisfy a judgment against a debtor. A portion of the debtor's income is taken until the judgment is completely repaid. Garnishment procedures ...Read More
Brace yourself: Your medical care over the course of your retirement will cost you and your spouse about $220,000. So says Fidelity Investments, which published the widely reported figure in 2013. ...Read More
When it comes time to retire, your pension plan choices may include a variety of annuity options. The straight life annuity choice will probably grab your attention because it provides the highest ...Read More
Planning for retirement is one time when a crystal ball would come in handy. If only you could see ahead to know exactly how much you’d need to live the good life in your retirement years. Unless you ...Read More
Every retiree wants to be certain that his retirement funds outlast him. This means managing such variables as the amount of retirement savings, how the money is invested, when the retiree makes ...Read More
You can move money from your Thrift Savings Plan to your Roth IRA through a TSP transfer or a TSP rollover. A TSP Roth conversion from a traditional TSP account to a Roth IRA must be included in your ...Read More
Spouses can most definitely collect Social Security retirement benefits at the same time…sometimes even if they’re now divorced. They can even collect on each other’s work records if one spouse’s ...Read More
Investing the money you saved for retirement is important, but choosing the right investments is critical to preserving your funds. Many retirees rebalance their investment portfolios to focus more ...Read More