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Your beneficiary designation will often control where your IRA goes once you pass away. Make sure you don't leave unintended people on the account like an ex-spouse.
This post is follow-up to our post of December 22, 2024 and will again highlight the benefits of using the Actuaries Longevity Illustrator (ALI) to help you develop reasonable lifetime planning period...
I (M74) am really having a difficult time trying to decide how and who to handle our assets after my death. I have done most of our investing and financial management in the past. The majority is in b...
The ACA health plan premiums may decrease, stay the same, or even increase when one spouse starts Medicare. Here's why. Learn the Nuts and Bolts I put everything I use to manage my money in a book. My...
We asked a psychologist and a mediation expert for advice....
A high percentage of plans fall short of meeting their owners’ goals because central players in executing the plan didn't know key facts....
You may remember the post I did about 3 weeks ago about death of a spouse early in retirement. I figured it would be good for me and those of you who have not been through this to give an update. Mode...
If so, what were the objections, and how did things turn out? I'm 65 and want to retire now. I have had good paying jobs for many years and we live frugally, so we have a good amount of money saved, b...
Wondering how others approached this. I am 57, my wife is 46. I could retire at 62, 65 easily but how do I not work for the 10 years that my wife has to work? Just a moral dilemma I am trying to plan ...
M64 wife is 57, no kids. We have just north of 4 mil in liquid assets split between 3 in after tax and 1+ in 401k. How much should we have in real estate vs bonds,equities and annuities? I’m ant...
This is a small pension that my wife has from a previous job. Papera came in last week...take a lump sum rollover of $21,500 or wait until she is 65 (2033) and take the $274 per month until she has pa...
It's important you get involved in financial planning now so you're prepared and confident to make decisions when you potentially become your own financial manager....
We asked expert wealth planners for advice....
I have a 403(b). My wife has a 401(k). Let's figure out who has the better retirement account and if it matters for our portfolio. The post Wife vs. Husband: A Retirement Account Showdown appeared fir...
Money conversations fall short when only one spouse is at the table. It’s easy to treat financial planning like another household task to divide and conquer, but unlike errands, your financial p...
Women are poised to inherit significant wealth from their husbands. Here's how they can prepare for it....
So I have some questions. What does everyone do with their time? I have some goals that I would like to accomplish, which includes 15+ hours a week of training and several annual trips including overs...
Some financial decisions need to be made sooner rather than later. In honor of International Widows' Day, here's what you need to know about gathering documents and contacting government agencies and ...
My husband is retiring at the end of June at the age of 60. I’ll be following next February when I turn 60. I would really like to get him a gift to celebrate this milestone, especially since I ...
I love my job and I love my wife. Can't I have both?...
Spouse and I are covered under my prior employer’s plan under I turn 65. At that point coverage terminates and I become eligible for Medicare. However, spouse doesn’t turn 65 until 2 month...
FIRECracker is a world-travelling early retiree. She used to live in one of the most expensive cities in Canada, but ... Read more...
It’s been a while and our reader cases are piling up, so without further ado, it’s time for another reader case! Greetings FC and W!!! I’m normally a “Live quietly amongthe mas...
I have Retired Husband Syndrome (it's a real thing, look it up). We both retired last year and took a few months to travel - the idea being "you never know" how long you will be fit enough to do it (w...
? Show Notes In this episode, we kick off a month-long series on retirement basics, emphasizing the crucial role of partnership in planning for retirement. We discuss why it's vital for both spouses t...
We asked expert financial advisers and therapists to weigh in....
How to separate or combine accounts with a spouse is a difficult decision. I have a system that has worked well. When we first got married, my wife was rightfully worried about me analyzing all of her...
We weren't married long enough for me to expect any money from his earnings (3 years at most). It's going to hold up me applying for my OWN benefits! How can I get his Social Security number? All I ha...
Lost my wife 3 years ago, and now retirement is upon me next month. I'm trying to get excited, but I have to admit it is somewhat anti climatic entering retirement alone. All those lost plans! We vaca...
Just woke up again to the stereo system blaring in the living room. He mutes it and forgets to turn it off before bed then after several hours the mute will timeout and the sound come back on. He also...
There are actually a few good reasons to hire your spouse in your business. But you probably won't come out ahead financially by doing so. The post Why Hiring Your Spouse Is (Probably) a Bad Idea (Eve...
hi thanks for listening! Not yet retired. I am 65 in April and love my healthcare admin job, Husband won't be 65 til Aug 26 and has a love/hate relationship with his job. My FIL died last July and we ...
My FRA will be in May 2025 but I plan to keep working. My ex spouse is 2 years younger than me and still working. Can I collect SS from his account in May while working, then switch over to my account...
I have seen contradictory information about this question online and don't find anything on the SSA website that addresses it. I am 75, the high wage-earner, and started collecting my benefits at age ...
I'm likely going to retire 3 to 4 years before my spouse will retire. Various reasons, but this has always been the plan. He is fine with it. Very supportive. I've had a minor taste of this for years ...
I am trying to figure out if there is a way for my wife to get larger social security amount next year. My amount will be closer to $3K but my wife's projected benefit based on government site estimat...
Well, finally coming up on retirement from a corporate sales job after more than thirty years. Getting Medicare at the start of 65th birthday month was the key to my decision. Younger wife (10 years) ...
This post focuses primarily on the implications of assuming, or planning, to live longer than one’s life expectancy. For the purpose of this post, we are going to assume that when you are asked ...
I officially retired at 60 from the military (Reserve) last year and from law enforcement in 2017. My wife turns 50 next month and is planning at least 15 years until she retires. I want to travel the...
Hello there. Age 64 now and would like to retire @ 67. Have about $375K in 401K plus $85K in my wife's 401ak but she is 8 years younger and plans tonwork to 65 before retiring herself. Musts before I ...
When you're married but only one spouse works, leaving retirement planning to the working partner puts financial security at risk. A joint effort is vital....
I (60F) retired almost a year ago. My spouse has just past retirement age and is still working by choice. He has never spoken about retirement- when he would like to, what plans he has, things he want...
First my wife is totally capable emotionally, physically and otherwise to handle any situation. My concerns center around if she should develop a disease or condition that reduces her capacity to make...
My husband, 67, retired last year. (I still work full-time from home.) He is in reasonably good health, but I am concerned that he is becoming a couch potato and needs something more than newspapers a...
My wife will reach FRA 6/2025 she will draw on my earning history. Will she be qualified for 1/2 what my SS payment was in 2019 or will it be adjusted for COLAs that have taken place since that time?...
I’m new in retirement. Retired at 64. When I look at the week ahead and know I will be away for two hours for volunteering, and two hours for book club, and time for exercise classes I feel so G...
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After his father lost healthcare coverage in retirement and had to pay for a major health event with savings, Derek was highly motivated to ensure sufficient coverage in retirement. He even considered...
A listener says, “Eventually, one spouse will pass before the other, which will often catapult the survivor into a significantly higher tax bracket. Shouldn’t a Roth strategy take this int...
James addresses a listener's question regarding Social Security strategies in retirement. Sasha, aged 59, seeks advice on when to start collecting Social Security, considering her husband's benefits a...