Eventually, all retirees must take the required minimum distributions (RMDs) starting at age 72
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A couple who have $500,000 in savings at age of 40 and max out their contributions every year.
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They will end up with $7.3 million in their 401(k) and face RMDs exceeding $435,000 by retirement.
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They may face RMDs exceeding $435,000 by retirement and reaching $739,000 by age 80.
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Consider transferring money from an existing tax-deferred account to a tax-free Roth IRA.
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This is a better strategy in low-income years, as the transfer amount is usually fully taxable.
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You may be less prepared for climate-related disasters than you think, said Tara Siegel Bernard
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The first thing you should do is assess your home's risk to earthly hazards like fire, floods, and hurricanes.
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So you should know insurance coverage and always choose 'replacement value coverage when you can.
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