Social Security After Divorce
Social Security Benefits for Married and Divorced Couples: What You Need to Know When it comes to Social Security, married couples have access to some unique benefits. But what happens if you get divorced? Do those advantages disappear, or do they continue? While you’re married, both spouses can claim Social Security benefits based on their […]
Downsizing for Retirement: A Common Misconception
The idea of selling a large family home to downsize and fund retirement is a familiar one. The premise is simple: sell a home with significant equity and use the leftover funds after purchasing a smaller, less expensive home to create retirement income. However, the reality for many retirees is quite different. The “downsize” often […]
Understanding Required Minimum Distributions (RMDs)
For individuals aged 73 and older, the IRS mandates that you begin taking Required Minimum Distributions (RMDs) from your retirement accounts. This rule ensures that the tax-deferred growth on these funds is eventually taxed. While there are some exceptions, failing to take your RMD can result in a significant penalty. The penalty for missing an […]