The Retirement Income Connection Blog

Adriondack Chairs on Lake

Required Minimum Distributions 101
Posted on August 3, 2022

If you are approaching your seventies, get ready for required minimum distributions. You may soon have to take RMDs, as they are called, from one or more of your retirement accounts.

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Father and Son

What Happens When There Are No Beneficiaries
Posted on July 20, 2022

Some accounts have no designated beneficiary. Rarely, the same thing occurs with insurance policies. This is usually an oversight. In exceptional circumstances, it is a choice. What happens to these accounts and policies when the original owner dies?

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Start Road

The Behavior Gap and Your Financial Health
Posted on June 6, 2022

“It turns out my job was not to find great investments but to help create great investors,” writes Carl Richards, author of “The Behavior Gap.” From increasing our budget mindfulness to taking a steadier approach to investing, Richards has drawn attention to how our unexamined behaviors and emotions can be to our detriment when it comes to living a happy and financially sound life. In many cases, we make poor financial decisions when experiencing panic or anxiety due to personal or widespread events. 1

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The Retirement Reality Check
Posted on May 11, 2022

Decades ago, there was a book entitled What They Don’t Teach You at Harvard Business School. Perhaps someday, another book will appear to discuss certain aspects of the retirement experience that go unrecognized - the “fine print”, if you will. Here are some little things that can be frequently overlooked.

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An Estate Planning Checklist
Posted on April 29, 2022

Create a will if you do not yet have one. A valid will may save your heirs from some expensive headaches linked to probate and ambiguity. A solid will drafted with the guidance of an estate planning attorney will likely cost you a bit more than a “will-in-a-box,” but may prove worth the expense.

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Bar Graph

How Market Cycles Can Impact Retirements
Posted on April 8, 2022

A thoughtful retirement strategy may help you pursue your many retirement goals. That strategy must consider many factors, and here are just a few: your income needs, the order of your withdrawals from taxable and tax-advantaged retirement accounts, the income tax implications of those withdrawals, and sequence of return risk.

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Retirement Preparation Mistakes
Posted on March 21, 2022

Much is out there about the classic financial mistakes that plague startā€ups, family businesses, corporations, and charities. Aside from these blunders, some classic financial missteps plague retirees.

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Senior Couple

Getting (Mentally) Ready to Retire
Posted on March 4, 2022

A successful retirement is not merely measured in financial terms. Even those who retire with small fortunes can face boredom or depression and the fear of drawing down their savings too fast. How can new retirees try to calm these worries?

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Couple Walking

Wise Decisions with Retirement in Mind
Posted on January 20, 2022

Some retirees succeed at realizing the life they want; others don’t. Fate aside, it isn’t merely a matter of investment decisions that makes the difference. There are certain dos and don’ts – some less apparent than others – that tend to encourage retirement happiness and comfort.

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The Need for Power of Attorney
Posted on December 23, 2021

The point of the POA. A power of attorney (POA) is a legal instrument that delegates an individual’s legal authority to another person. If an individual is incapacitated, the POA assigns a trusted party to make decisions on his or her behalf.

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Entrepreneur with Financial Arrow Going Up

Annual Financial To-Do List
Posted on December 13, 2021

What financial, business, or life priorities do you need to address for the coming year? Now is an excellent time to think about the investing, saving, or budgeting methods you could employ toward specific objectives, from building your retirement fund to managing your taxes. You have plenty of choices. Here are a few ideas to consider:

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To-Do List

Your Year-End Financial Checklist
Posted on December 13, 2021

The end of the year can help remind us of last-minute things we need to address and the goals we want to pursue. To that end, here are some aspects of your financial life to think about as this year leads into the next.

Keep in mind, this article is for informational purposes only and is not a replacement for real-life advice. Make certain to contact a tax or legal professional before modifying your tax strategy. The ideas presented are not intended to provide specific advice.

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