It can be stressful thinking about how much income tax you will owe in your golden years. But don't worry, because there are simple solutions you can apply now to keep those taxes down and your spirits up.
So you’ve signed up for your company’s 401(k) plan or opened an IRA for your retirement savings. Congrats! That’s a great first step. But if you haven’t made your investment choices yet, you may still be behind the curve.
While a six-figure inheritance or high-paying job can land you in the top 1% of earners, it’s the little things—your money habits—that often make the difference between a life of prosperity and one of constant financial stress.
As you become eligible for Medicare, you will probably find yourself also considering buying additional insurance to cover the costs of prescription drugs. In fact, you will discover that Medicare strongly urges you to buy supplemental coverage, because prescriptions are not included in basic Medicare coverage.
If the idea of retirement leaves you filled with stress over money, now may be the time to take charge. Every situation is different, so be sure to speak to a qualified financial advisor about your options.