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Income taxes are an important part of your finances during your career, but they don’t exactly go away once you retire. One way or another, you will pay some income taxes on your retirement income, too. But because your tax liability will depend upon the choices you make now, it’s…
For those of you who itemize your income tax deductions, we have a bit of good news. Back in December, Congress signed a new tax package into law, permanently allowing a larger income tax deduction for out-of-pocket medical expenses. Here’s how it works: You can claim out-of-pocket medical expenses that…
It can be easy to make financial mistakes at any age. But during the decade or so before retirement, certain pitfalls can seriously hamper your retirement plan. Many wannabe-retirees have made the following mistakes and ended up forced to alter their retirement plans due to the fallout. Prioritizing college over…
Many people would probably rather retire when the market is hot and their portfolio is performing well. But of course, we can’t always plan for everything. Sometimes we need to retire for health or personal reasons. At other times we feel ready to retire and simply don’t want to wait…
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