Yet, all too often, there is a second group of retirees for whom retirement is filled with uncertainty. Let’s say that at age 58, suddenly you are forced to retire. This could be a full five to seven years before you planned. What do you do now?
In my daily work with clients, the question often comes down to, “How much do I need to retire comfortably?” My usual answer is, “How long are you going to live, and what do you want to eat?!”
Young physicians often ask, “Should I focus more aggressively on paying down my debt, or should I just do the minimum and try to save as much as possible?” That’s an excellent question, with lots of variables and layers.
In late June, the IRS announced RMDs would be able to be reversed from any account requiring them through August 31st. Since the IRS is allowing this, it presents a potential tax planning opportunity.
Proactively working off a budget is challenging, both emotionally and practically. Here are some of the tools members of our team use that have helped them successfully manage their cashflow.
