Tag Archives: Retirement

Gender differences—In Retirement

 

You may have read that women are far more likely to face poverty in retirement than their male counterparts—but you may not realize just how big the disparity is.  In fact, women are 80% more likely to fall into poverty toward the end of their lives, compared to men, according to a 2016 study by the National Institute on Retirement Security.

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How Do You Stop Yourself From Overspending?  

The urge to splurge is one of the toughest challenges to a monthly budget, and leads to unhappy encounters with the credit card statement.  But psychologists say there are solutions for the chronic overspender.

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Health and Financial Wellness

Your financial plan is about your goals and finances.  But is it also about your health?

In a recent blog post on the Forbes.com website, financial planner and medical professional Carolyn McClanahan suggests that your health status may be a crucial input into your overall financial plan.

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Creative Giving

Giving to a charity is easy, right?  You write a check and send it off to your favorite 501(c)(3) organization, and get a full deduction for the amount on your tax return, up to 50% of your adjusted gross income.

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Retirement Contribution Limits Unchanged

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In case you missed it, the contribution limits to your 401(k) plan, IRA and Roth IRA—set by the government each year based on the inflation rate—will not go up in 2017.  Just like this year, you will be able to defer up to $18,000 of your paycheck to your 401(k), and individuals over age 50 will still be able to make a “catch-up” contribution of an additional $6,000.  (The same limits apply to 403(b) plans and the federal government’s new Thrift Savings Plan.)  Your IRA and Roth IRA contributions will continue to max out at $5,500, plus a $1,000 “catch-up” contribution for persons 50 or older.

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Couples Decision Therapy

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There have been studies showing that financial issues are one of the primary reasons why married couples fall apart.  A recent article in Market Watch suggests that the biggest reason for these significant disagreements is a failure to create a unified view of the financial future that both parties have agreed to.  In many cases, one dominant spouse will make decisions on behalf of the couple, which can lead to disagreements (and potential divorce) down the road, as one spouse feels left out of the picture.

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