Retire Guide

Oct 23, 2024 | retireguide.com | Michael Santiago

Content created by RetireGuide and sponsored by our partners. Key PrinciplesRetireGuide’s mission is to provide seniors with resources that will help them reach important financial decisions that affect their retirement. Our goal is to arm our readers with knowledge that will lead to a healthy and financially sound retirement. We’re dedicated to providing thoroughly researched annuity information that guides you toward making the best possible financial decisions for you and your family.

Oct 4, 2023 | retireguide.com | Lindsey Crossmier |Lamia Chowdhury

Key TakeawaysSet annual budgets and revisit them frequently to ensure your change in needs align with your new goals. Consider your ideal retirement lifestyle, like your travel goals, to help you determine your savings goals. Investing isn’t always high-risk vehicles. There are safe, low risk investment and account options to consider. Without an estate plan, any decisions regarding your wealth, property and health are not in your control.

Oct 3, 2023 | retireguide.com | Michael Santiago

Key TakeawaysRoth IRA conversions allow you to shift money from a traditional IRA or 401(k) into a tax-free Roth IRA. Individuals with incomes too high to contribute directly to a Roth IRA can initiate a Roth IRA conversion without any income limitations. Before a conversion, it's important to ensure you have the means to cover the income taxes associated with the funds you'll be converting.

Sep 27, 2023 | retireguide.com | Lamia Chowdhury

Key TakeawaysComparing the cost of living, including income taxes, in different states is an important part of the retirement planning process. Income tax is not the only tax that affects retirees. There are also state sales, excise, property, estate and inheritance taxes to consider. Tax savings is only one factor to consider with a relocation. Other key factors are social support networks, weather and community services.

Sep 26, 2023 | retireguide.com | Savannah Pittle

Key TakeawaysInterest on CDs placed in taxable accounts is taxed as ordinary income in the year it is received. Interest on CDs placed in tax-deferred savings accounts like traditional IRAs is taxed when distributions are made, typically in retirement. With increased interest earned on CDs because of rising interest rates, you should review your income tax withholding for accuracy. How Are CDs Taxed?