63% of Americans fear outliving their savings more than death. In this article, Tulsa-based CFP® Cory Jobe explains why that fear is so common — and how to create a personalized plan that helps your money last. From inflation to healthcare costs, here’s how to retire with confidence.
"Required Minimum Distributions (RMDs) are mandatory withdrawals from your tax-deferred retirement accounts, such as 401(k)s and traditional IRAs, starting at a specific age. The age at which you must start taking RMDs is primarily determined by your age, not your employment status. However, if you're still working for the company that sponsors your 401(k), you generally don't have to take RMDs from that account. If you have multiple retirement accounts, you'll need to calculate and withdraw RMDs from each eligible account. Failing to take your full RMD can result in a significant penalty, typically 50% of the amount you should have withdrawn."
In today’s complex financial landscape, the role of a financial advisor has never been more crucial. Vanguard’s research highlights how advisors add significant value through behavioral coaching, customized financial planning, tax efficiency, and strategic portfolio construction. Discover how these services can enhance your financial well-being and provide peace of mind.
Selling your business is a significant milestone, but what comes next is crucial for ensuring long-term financial security. This article explores diversified investment strategies, tax implications, health insurance options, and the importance of an umbrella insurance policy to help you generate a sustainable, passive income.
Retiring tax-free offers significant advantages over retiring with debt, including reduced stress and lower withdrawals due to being in a lower tax bracket. Discover strategies to achieve a tax-free retirement and enjoy financial peace of mind.
Discover the benefits of Qualified Charitable Distributions (QCDs) for tax-savvy philanthropy in retirement. Learn how QCDs can satisfy your RMDs while reducing taxable income and supporting your favorite charities.