Let’s face it – no one wants to think about death and what happens to their stuff afterward But if you care about your family (which I’m guessing you do), learning how to avoid probate is one of the kindest things you can do for them. When I first started researching estate planning I was … Read more
A pension provides a reliable source of income in your retirement years, making it easier to manage your expenses and enjoy the life youve always dreamed of. For most retirees, receiving a pension wont affect the amount of your Social Security payouts. You can enjoy both. However, if your pension comes from a certain type … Read more
Ever stood at your mailbox wondering if there’s any way to get a bit more from Social Security? You’re not alone. One of the most common questions I hear from readers approaching retirement is whether they can somehow collect two Social Security checks at the same time. It’s a fair question – after all, many … Read more
Ever wonder what private pension income is and how it could help you in your golden years? Maybe you don’t know the difference between public and private pensions, or you’re just starting to think about how to plan for your retirement. I’m here to explain everything in plain English, no matter what the situation is. … Read more
Having the option to take an early retirement is a really nice thing to have. Just how much money do you need to retire at age 55? If you want to do it, you’ll need a good plan, to be able to keep your spending in check, and savings that aren’t in a retirement account. … Read more
Bankrate is always editorially independent. While we adhere to strict , this post may contain references to products from our partners. Heres an explanation for . Our is to ensure everything we publish is objective, accurate and trustworthy. Bankrate logo. Founded in 1976, Bankrate has a long track record of helping people make smart financial … Read more
Yes, a lump sum from a pension is usually taxed as ordinary income, but not as earned income. The Internal Revenue Service (IRS) says that lump-sum payments from qualified retirement plans are taxed, and that mandatory withholding is usually applied. But there are a number of tax treatment options and possible ways to lessen the … Read more
The traditional 401(k) is a workplace retirement savings plan that allows you to save for retirement with contributions taken straight out of your paycheck—before taxes. Those automatic contributions are a super convenient way to make sure you’re consistently building your retirement savings, which is awesome. And that plan—the traditional 401(k)—was the only game in town … Read more
Are you wondering if you can move some of your 401(k) to an IRA without touching the rest? Maybe you’re still working but want to invest some of your retirement savings in a different way. Or maybe you’ve already quit your job but aren’t sure if you want to move everything at once. Well, I’ve … Read more
After losing a spouse, getting your financial affairs in order crowds against many other new priorities—honoring their memory, finding support systems and focusing on your own healing. Figuring out benefits such as Social Security can feel overwhelming. When your spouse dies, do you get their Social Security? Depending on your situation, survivor benefits can play … Read more