Planning for retirement doesn’t have to be overwhelming. Dive into our guides and tips to help you secure a comfortable, stress-free retirement. From 401(k)s to IRAs, we’ve got you covered.
Understanding Required Minimum Distributions (RMDs) is a critical aspect of retirement planning, ensuring that individuals begin withdrawing from tax-advantaged retirement accounts at a specific age. Whether you’re approaching retirement or already withdrawing, understanding RMD rules can help you stay compliant and manage your tax liabilities effectively.
Understanding Required Minimum Distributions (RMDs) Read Post »
One of the goals of Raining Pennies is to take complicated topics and break them down into something more digestible for my readers. This post is a great example of that.
Understanding the Taxation of Social Security Benefits Read Post »
The Social Security Administration (SSA) announced Social Security and Medicare changes for 2025, including a 2.5% cost-of-living adjustment (COLA) for Social Security benefits and increases in Medicare premiums and deductibles.
Social Security and Medicare Changes for 2025: What You Need to Know Read Post »
Social Security is a cornerstone of retirement planning, yet its rules are often misunderstood. Many people believe that switching spousal and individual plans is a simple way to maximize payments, but this isn’t always true.
Maximize Social Security by Switching Spousal and Individual Plans Read Post »
Navigating the complexities of Social Security benefits can be daunting. Deciding when to start receiving your benefits is one of the most critical decisions you’ll make, impacting your financial well-being for years to come.
How to Use Our Social Security Break-Even Calculator Read Post »
As you enter your 50s, these essential retirement planning tips for people in their 50s can help you maximize savings and prepare for a financially secure future. Taking the right steps now can ensure a comfortable and stress-free retirement.
10 Essential Retirement Planning Tips for People in Their 50s Read Post »
Are you considering early retirement? Consider taking advantage of the Rule of 55 to tap into your 401(k) or 403(b) account.
5 Important Facts to Understand the Rule of 55 Read Post »
As the year comes to a close, it’s essential to stay on top of your 2024 year-end IRA reminders. From contribution deadlines to excess contributions and RMDs, overlooking these tasks could lead to penalties.
2024 Year-End IRA Reminders: What You Need to Know Read Post »
Delaying Social Security with Roth conversions can be a powerful strategy to boost your retirement income. By waiting until age 70 to claim Social Security, you can take advantage of an 8% annual increase in benefits.
Delaying Social Security with Roth Conversions: A Step-by-Step Guide Read Post »
When you consider Roth IRA withdrawals, it’s important to understand the penalties and tax implications involved. If you take money out too soon, you could face a 10% penalty on earnings, along with possible taxes.
Roth IRAs: What You Need to Know About Withdrawals Read Post »
