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All United States citizens are subject to income tax from the federal government, even those who are retired. Living on a fixed income in retirement can be difficult, so it’s important to plan accordingly for how you will be taxed to get an accurate picture of your financial health. 

Here’s what you need to know about taxable income in retirement. 

You’ve spent many years building your business from the ground up, working through the highs and lows of entrepreneurship. Now, as you’re nearing retirement age, it’s time to think about what will happen to your business when you’re no longer working.

Some believe that in a digital world where information travels at light speeds, the playing field between investors and institutions is more level. In reality, information overload can fuel more irrational behavior in investors than provide any advantage.

As the ball drops on New Year’s Eve, we dig up our hopes and dreams and make some resolutions. Health-related goals are usually at the top of the list, but what about your finances? The health of your accounts, spending habits, and investments are just as important to evaluate.

When people choose to eat healthier or lose weight, they know that they have to change their behaviors. That’s easier said than done, which is why weight loss programs and restrictive diets are popular. They provide a system for controlling portions, managing nutrition, and staying accountable.

Approximately 70 million retired Americans collect Social Security benefits. Of those retirees, 8 million also collect Supplemental Security Income (SSI). But Social Security is more than retirement income. It also provides life insurance and survivor benefits.

Retirement can invoke a mix of conflicting emotions from anticipation to fear, excitement to anxiety. It’s one of the biggest life changes we experience in our adult lives. Most of us anticipate and save for it for decades. But, going from receiving a paycheck for most of your adult life to living off the wealth you have amassed is no doubt an unnerving transition. 

Annual Financial To-Do List
Things you can do for your future as the year unfolds.

Provided by Cory K. Sims

If you’re in the 29 percent of women between ages 50 and 64 who are single, you may be wondering what retirement will look like.

This is it. You’re zeroing in on your retirement years. You’ve been planning this for decades, but are you really ready? If you’re five to 10 years away from retirement, it’s time to start getting specific about your plans after exiting your career. Here’s what you should be doing to prepare.