Mark Henricks

To answer this question, you'd have to closely examine your income plan and expenses in retirement.

Converting retirement savings held in a 401(k) to a Roth account can help you reduce or even avoid mandatory withdrawals while giving your more tax planning flexibility.

When faced with the decision of taking a lump sum pension payout or receiving monthly annuity payments, your course of action will depend on your individual circumstances.

Understanding Nursing Home Costs and Medicaid Eligibility Nursing homes provide round-the-clock care for seniors who can no longer live independently.

Mark Henricks 5 min read SmartAsset and Yahoo Finance LLC may earn commission or revenue through links in the content below.

Mastering mortgage terms is half the battle in learning the language of home ownership. Start with this helpful glossary from Forbes Advisor Canada.

Mark Henricks 6 min read SmartAsset and Yahoo Finance LLC may earn commission or revenue through links in the content below.

As we age, many of us will need some form of long-term care, whether at home or in a facility. With nursing home costs averaging over $90,000 per year, long-term care expenses can add up quickly. While Medicaid can help you cover these costs, it has strict eligibility requirements that may require you to spend […] The post Can a Nursing Home Take Our Assets? We Have a $1 Million IRA and a Trust to Protect Us appeared first on SmartReads by SmartAsset.

With $2.5 million in cash, $500,000 in an IRA and average Social Security benefits, someone who’s 67 is likely in a pretty good spot for retirement. However, retiring comfortably involves more than financial resources. It also requires balancing income and expenses. With that in mind, it may be necessary to reduce lifestyle costs or invest […] The post I’m 67 Years Old, Have $2.5 Million in Cash, $500k in an IRA and Social Security. Should I Retire Now? appeared first on SmartReads by SmartAsset

You can reduce the impact that taxes have in retirement by converting pre-tax savings into Roth assets. Doing so not only unlocks future tax-free growth, but also helps you minimize or avoid required minimum distributions (RMDs).