Social Security After Divorce
There are some special Social Security benefits for married couples. What if you divorce? What happens to those advantages? While married, both spouses are eligible to collect Social Security based upon their own earnings. A lower-earning spouse has the opportunity to collect ½ of the higher-earner’s benefit, or their own… whichever is higher. It is […]
Tapping Home Equity for Income
You’ve heard the concept before – the kids are out of the house – Mom and Dad retire… so it’s time to sell the big ole house and downsize. Equity in the home that exceeds the price of the new place can be used to create retirement income. I’ve been through this with several couples, […]
Penalties for Missing Your RMD
For those who are 73 and older – the IRS requires you take a minimum distribution from your retirement account. There are some exceptions – but for the most part… the IRS has allowed the money to grow tax-deferred and now they want you to take monies out and pay some taxes. If you don’t […]
