Slott says a traditional IRA is an IOU to the IRS, so he believes in looking for alternatives.
“The last time there was a decline in confidence of this magnitude was in 2008 during the global financial crisis,” the RCS found.
Congress revised rules on required minimum distributions (RMDs) that retirees must start taking in their 70s from tax-deferred retirement accounts.
The Inflation Reduction Act, signed prior to the midterm elections, shows us some of the new tax focus, but much of the bill will not be implemented for years ahead. Although I majored in economics, I have found no commentary that says this bill will affect inflation in any way.
A mortgage can seem like a big albatross around your neck that is never going to fly away. It is tempting to chase it away by paying it off so you don't have to deal with it when you retire.
Retirees who are looking to shrink their square footage should carefully consider the kind of life they want to lead. Moves are rarely for purely financial reasons, and unexpected expenses can crop up.