How much does one need to retire in Australia? There’s no mortgage, no work-related costs and fewer child costs…But then there’s greater travel, more frequent outings, and inevitable ageing costs. Thinking about retirement keeps me up at night sometimes. Will I have enough? Am I saving enough? What’s normal anyway? If you’re wondering how your … Read more
Dreaming of saying goodbye to the 9-to-5 grind a whole decade and a half before traditional retirement age? You’re not alone! Early retirement at 50 is becoming an increasingly popular goal for many Americans who want to reclaim their time and enjoy life while they’re still young enough to make the most of it But … Read more
Using tax avoidance strategies to transfer wealth is a smart way to keep your legacy and heirs from having to pay too much in taxes. Still, it requires careful planning and oversight to ensure techniques don’t cross the line to tax evasion. What is the benefit of assessing your tax options? Determining the best way … Read more
It can be really hard to figure out tax stuff, especially when it comes to retirement accounts like Roth IRAs. People always ask me if Roth IRA distributions need to be reported on tax returns. In short, it depends on the kind of distribution. Allow me to explain it in simple terms so you fully … Read more
Your retirement savings may already be well on their way if you have automatic deposits into a 401(k) account. But that’s not your only retirement account option. An individual retirement account (IRA) offers a unique way to save for the future. You can choose a traditional IRA, a Roth IRA or work with both. If … Read more
James joined Citizens Securities Inc. founded in 2022 and is in charge of selecting and managing the ETFs, mutual funds, and portfolio models made with these investment products. As a strategic partner, he has over 30 years of experience in financial markets focused on a broad array of public and private equity and fixed income … Read more
Do you know that most couples need between 70% and 80% of their pre-retirement income to keep up their current lifestyle after they retire? For example, a couple making $120,000 a year would need between $84,000 and $96,000 a year in retirement. These numbers represent just one part of the retirement puzzle. The 4% rule, … Read more
When you die your spouse, civil partner or beneficiaries may be able to inherit your pension. The trustees of the pension plan will decide who gets the pension, but they will look at your expression of wish form. The exact rules for pension death benefits depend on the type of pension you have and how … Read more
Credit card debt can be overwhelming, especially when it begins to spiral out of control. When facing significant financial hardship, some individuals consider tapping into retirement savings through hardship withdrawals to pay off high-interest credit card balances. But is this actually permitted? And more importantly, is it a wise financial decision?. Before you make up … Read more
Are you wanting to buy your first home but having trouble saving enough for the down payment? Your Roth IRA could be the answer you’ve been looking for since you opened it. Let’s go over everything you need to know about using your retirement savings to buy a house before you start taking money out. … Read more