Hey there! If you’ve been wondering whether pensioners receive a P60, you’re definitely not alone. This question pops up all the time, especially for those approaching retirement or who’ve recently started receiving pension payments. Let’s clear this up once and for all! The Short Answer: Yes, Pensioners Do Get a P60! Pensioners who receive a … Read more
The Registered Retirement Savings Plan (RRSP) and the Tax-Free Savings Account (TFSA) are only available in Canada. They each have their own rules for investing and uses. Most Canadians know these plans exist, and hopefully have funds in one or both of these important account types, but many people don’t know how to use them … Read more
If your income is below a certain level and meet other requirements, you can put money into a Traditional, Rollover, SEP, or SIMPLE IRA before taxes. You don’t have to pay taxes on the money until you take it out. IRA withdrawal rules and penalty details vary depending on your age. Are you stressing about … Read more
Many people believe that hiring a financial advisor is essential for making good investment decisions. This myth has been reinforced by decades of marketing from many financial advisors, but the truth is, many investors who manage their own money often achieve better results than those who rely on advisors, without fees eating into their returns … Read more
If you are wondering what to do with your pension plan, check out the pros and cons of rolling over a pension into an IRA. 3 min read. If you are leaving your employer, you need to make the right decision for your pension plan. You can either cash out the money or move it … Read more
The senior citizen population is large, growing, and by some estimates, hold two-thirds of the individual wealth in the United States. In 2050, there will likely be almost twice as many seniors as there were in 2012. Elderly people are often more likely to be scammed than younger people who don’t have savings because they … Read more
Americans are worried that they will outlive their savings as they live longer, so annuities are becoming a popular way to make sure they have a steady income in retirement. Annuity sales surpassed $432 billion in 2024, according to data from LIMRA, drawing many retirees to the promise of guaranteed payments for life. But while … Read more
Are you facing financial hardship due to the pandemic? Wondering if you can dip into your retirement savings without getting hit with penalties? Good news – the CARES Act created special provisions allowing penalty-free withdrawals from retirement accounts during the COVID-19 crisis Let me walk you through everything you need to know about taking money … Read more
Thinking about kicking back and enjoying retirement at 60 with $400,000 saved up? You’re not alone. This question crosses the minds of many Americans approaching their 60s who want to know if their nest egg is sufficient for an early exit from the workforce. Yes, you can retire at age 60 with $400,000, but it … Read more
Retiring with enough money is a major concern for most of us While some folks aim for the million-dollar mark, others wonder if $600,000 might be enough to support their retirement dreams. I’ve spent a lot of time researching this question, and the answer isn’t as simple as yes or no – it depends on … Read more