Good Financial Reads: Planning for Retirement (Part Three)

In today’s economy it is very common for people to change jobs often as they look to advance their career. While there is a lot of benefit from that from a jobs growth standpoint, what can happen often is as you switch jobs, you leave your old 401k savings and old plans with your old employers. This is when we recommend you consolidate old retirement accounts.

After many years of building up your retirement accounts, there comes a time where you need to change your mindset and withdraw from them instead. It can be confusing to decode all of the IRS rules surrounding required minimum distributions (RMDs). Essentially, you need to know the answers to the following questions:

1. What is an RMD?
2. Why Am I Taking an RMD?
3. When Do I Need to Take My RMD?
4. How Do I Take My RMD?

As the Baby Boomer population ages, the need for long-term care increases. No matter where you come from, receiving accessible daily-living assistance is essential to maintaining your quality of life. 

What is long term care and who are the people that typically need it? This article discusses the different solutions available for long-term care such as Medicare and Medicaid. The requirements to utilize life insurance for assistance are also covered. Read on to discover the top five solutions to long-term care.

There are many different ways to save for retirement. Some people save in employer-sponsored plans, IRAs and brokerage accounts. However, an annuity is another way to invest your money that many people do not know about. If you’re new to investing, or even new to the United States, you may be unfamiliar with the terminology surrounding annuities.