Retirement Watch Weekly
Facts to Know Before Taking the Social Security Lump Sum Cash Option
The Social Security Administration still is doing a disservice by coaxing applicants into taking the optional lump sum cash payment when they sign up. The beneficiaries more than pay for it over the long term. The lump sum option isn’t new. But many applicants don’t know about it until the SSA offers it to them […]
Bob’s Journal for July 6, 2023
Without AI, Stock Indexes are Down 2% This Year The S&P 500 Index is up 16.79% so far in 2023, and the tech-heavy Nasdaq 100 is up 39.14%. But those gains are because of a remarkably few stocks, and those stocks are closely connected to artificial intelligence (AI). The rest of the market isn’t doing […]
Fed Policy Will Have to Stay Tight for A While
Many analysts are prematurely sounding “all clear” and declaring we’ve seen the worst effects of the Federal Reserve’s tighter monetary policy. It is understandable. We haven’t had a full Fed tightening cycle in many years. Long-term factors kept a lid on inflation for about 20 years, allowing the Fed to ease policy whenever the economy […]
Facts to Know Before Taking the Social Security Lump Sum Cash Option
The Social Security Administration still is doing a disservice by coaxing applicants into taking the optional lump sum cash payment when they sign up. The beneficiaries more than pay for it over the long term. The lump sum option isn’t new. But many applicants don’t know about it until the SSA offers it to them […]
How to Make the Most of Donor-Advised Funds
Donor-advised funds (DAFs) are becoming one of the most popular and effective ways to make charitable gifts, and their use is likely to increase in coming years. It is important to know the details of DAFs to maximize your tax benefits and the benefits to charities. A DAF is created or sponsored by a charity. […]
6 IRA Moves to Take During 2023
The halfway point of 2023 has passed. This is a good time to plan how you’ll manage IRAs for the rest of the year. Don’t be like most people and scramble in November and December. Here are some key steps most people should consider. Donate via a QCD. A qualified charitable distribution (QCD) is the […]
Beware of Trusts as IRA Beneficiaries
It is now more dangerous to name trusts as IRA beneficiaries because of recent tax law changes, but there’s a valuable exception when the surviving spouse is the sole beneficiary of the trust. There always have been problems naming trusts as IRA beneficiaries when non-spouses are trust beneficiaries. The SECURE Act, enacted in 2019, increased […]
The Most Important Document in Every Estate Plan
The most important part of your estate plan isn’t about taxes, investments, gifts, or other financial issues. The priority of every estate plan, for people of every age, is the medical care documents. These documents should be completed even if you’re still considering other issues in the plan. This critical part of the estate plan […]
