While the popular guideline is a good starting point, inflation and rising interest rates are factors that change the game when it comes to retirement withdrawals.
While the legislation provides an attractive option for families who end up not needing the money in a 529 plan, it's not clear how many will be eligible to use it.
If a surviving spouse is collecting their own Social Security retirement or disability benefit when their spouse dies, or is not yet collecting Social Security, they will have to apply for survivor benefits.
Even though investors can't access their accounts with bankrupt crypto lender Celsius Networks, they still owe taxes on the interest income they earned from the accounts last year.
A survey by the Senior Citizens League shows a majority of older consumers remain skeptical that the 8.7% Social Security COLA for 2023 will keep pace with rising costs this year.
House Republicans had suggested negotiations on the debt limit could include an agreement to set up a commission to negotiate later changes to Social Security and Medicare to extend the programs' solvency.
eMoney Advisor and FP Alpha have tools to help advisors with Roth conversions.
The House Republican bill is likely to hit a wall in the Democratic-majority Senate. There might be a better chance to extend some 2017 tax cuts set to expire in 2025,
The convergence of low bond prices, high inflation and market volatility has boosted the number of retirees being forced to go back to work.
Not only did Social Security benefits increase in 2023, but Medicare Part B premiums declined for the first time in more than a decade, resulting in larger net Social Security benefits for most retirees.
An unusual coordinated effort among state lawmakers seeks to impose wealth taxes across the country, but advisors warn levies on assets will drive high-net-worth clients to lower-tax states.
Half of near-retirees are relying on self-education to understand Social Security and Medicare, while 53% plan to use an advisor to maximize retirement income sources.
Direct indexing looks a lot like separately managed accounts, and SMAs may provide more control and flexibility for investors.
The funding fight could be bargaining chip at the center of upcoming debates over raising the debt ceiling and funding the federal government.
A report by Wade Pfau and Steve Parrish concludes that retirees might not be willing to invest aggressively enough to ensure that claiming early and investing the proceeds generates high enough returns.
The provisions of the SECURE and CARES Acts, and the related IRS rules, are creating even more confusion about which beneficiaries are subject to RMDs this year.
Last year's inflation, the highest in decades, means married couples can now hand their heirs almost $26 million tax-free, $1.7 million more than in 2022.
Mary Beth Franklin, who launched her final career phase as a weekly columnist in 2012, will continue writing a monthly column for InvestmentNews.
The asset manager announced that all 29 of its ETFs will avoid such distributions this year.
It sounds odd, since delayed retirement credits stop accumulating at age 70, but intentional late filing for benefits can shift income into the next tax year.
