Youâve had a successful career and youâre almost ready to retire. While still in your peak earning years, is there a tax efficient way to give back? During this time, when youâre in a high tax bracket, charitable giving can both benefit others and help you set yourself up for retirement. With some planning, everyone… More
Ask Larry Economic Security Planning, Inc. Today’s column addresses questions about the potential effects of pensions on the availability of spousal benefits, statistics about what benefit amounts different people receive and potential effects of filing for survivor’s benefits early and while working. Larry Kotlikoff is a Professor of Economics at Boston University and the founder… More
As public pensions spiral downward, pension trustees and participants, unions and taxpayers are … [+] increasingly raising their voices to urge the SEC to stop rampant mismanagement of pension investments and looting by Wall Street. Getty Images As public pensions across the nation continue to spiral downward, pension trustees and participants, unions, and taxpayers in… More
KIRKLAND, WA – AUGUST 24: Deborah Trigueiro reacts to seeing her husband Douglas Smith at the Life … [+] Care Center (Photo by Karen Ducey/Getty Images) Getty Images When Washington State legislators approved a public long-term care (LTC) insurance program in 2019, they made a last-minute change: Residents could opt out if they purchased private… More
Akiva ben Yosef was an influential first century rabbi, living in Roman territory, who inspired many followers. He has a lesson to teach us that is just as pertinent today as it was 2,000 years ago, and especially applicable within the context of financial life planning. As legend would have it, Rabbi Akiva was journeying… More
Toronto Star via Getty Images It seems fewer people want to talk about managing investment portfolios today. In fact, for many, âinvestingâ means determining which mutual funds you should pick. But mutual funds arenât monolithic entities. They consist of investment portfolios of individual securities. It therefore makes sense for you to understand how these portfolios… More
getty Youâve heard that some people think they pay no fees for their 401(k) plan. Youâre not one of them. You know where to look for those âhiddenâ fees. You also know what you can or cannot do if you think youâre paying too much. Whatâs more, you know it takes a lot of effort… More
âHell yeah!â That was Lamar Jacksonâs answer when Coach John Harbaugh asked him, âDo you want to go for it?â on fourth down in the waning seconds of their most recent run-in with the Kansas City Chiefs, led by the consensus-best quarterback, Patrick Mahomes. But despite the question, the course of action was never in… More
getty On August 31 the Trustees of Social Security and Medicare finally issued their 2021 annual report. The news wasnât good, but not as bad as many expected. Normally the trustees issue their annual report sometime in the Spring. Last year it was issued April 22. This year the actuaries apparently spent more time massaging… More
getty Whatâs a âhiddenâ 401(k) fee? As the name suggests, itâs likely one thatâs not readily disclosed or easily accessible. If you use this definition, almost all fees are hidden because theyâre too hard to find. âThe plan sponsor/employer does receive an annual fee disclosure,â says Stuart Robertson, CEO of ShareBuilder 401k in Seattle. âHowever,… More
getty If youâve been paying attention, you know thereâs been a constant cry lamenting the âhighâ fees of 401(k) plans. Setting aside whether or not this is as pervasive as some make it sound, the truth is, at least a few 401(k) plans do pay more than they should. You might even be tempted to… More
How will your various retirement income streams be taxed? getty When you are planning for a retirement income you can’t outlive, you must not forget about taxes. How much you will owe in taxes during your retirement years will depend on a combination of how your retirement income is generated and the dollar amount of… More
The widows penalty could alter your retirement plans and threaten you the security of your … [+] retirement income. getty I recently attended a celebration of life for a good friend who passed. It got me thinking about the widow’s penalty and what it means for the surviving spouse, beyond the nightmare of losing a… More
Man wearing a suit with a concerned expression holding a social security card getty Some headlines are sure to draw eyeballs. Case in point, each time the Social Security Administration issues its annual report, there will be a series of articles discussing the fact the that the Social Security trust fund will run out of… More
Ask Larry Economic Security Planning, Inc. Today’s column addresses questions about eligibility for spousal benefits, what being born after 1/1/1954 means for spousal benefit eligibility and working while receiving disability benefits. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security Planning, Inc. See more Ask Larry… More
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