The Coronavirus Aid, Relief, and Economic Security Act” or “CARES Act” changed the rules regarding retirement plan withdrawals and tax penalties for 2020. Here’s how the new law, also called the coronavirus stimulus package or H.R.748, could let you tap your retirement savings if needed. Retirement plan distributions: Up to $100,000 penalty-free Normally, distributions from…
Retirement Planning Articles
Questions to Ask If You’re Filing for Social Security in 2019
If you’re approaching retirement age or planning to file for Social Security in 2019, there are some changes to the program that you need to know. Understanding how you can qualify, when you should file, and what benefits to expect can help make you make a more informed claiming decision, and better prepare you in…
Top 3 Concerns UMass Memorial Healthcare Employees Have About Retirement
After 30 years or so helping dozens of UMass Memorial Healthcare employees better understand their retirement options, I thought I would share the three most common concerns I hear from many of them and hopefully by doing so, if you have these same or similar concerns, you will get a better understanding of how to…
How to Retire in 20 Years or Less
Have you ever thought about how many more years you have to work? For someone in their mid-20s, you could have a long way to go considering the official retirement age is 65. That’s forty more years of working in a job you may not love, or forty more years of being obligated to show…
The Freelancer’s Guide to Saving For Retirement
As a freelancer, you have full and total control over your work. You decide what you do, where you do it, and how you get things done. The freedom and autonomy are attract many workers to self-employment in the first place. But if you already freelance, you know this line of work doesn’t come without a…
When Your Biggest Financial Goal Gets Real: What to Think About Before You Retire
When you were in your 20s and 30s, retirement seemed like a distant dream. But now that you’re in your 40s or 50? It sure looks a lot closer, and it’s fast approaching. To make your retirement the best experience possible – and to enjoy the lifestyle you want once you step out of your…
Are Mini-Retirements Right For You?
With pensions dying out and the responsibility to save enough in your working years to pay for decades of life without a paycheck squarely on workers’ shoulders, the traditional idea of retirement may no longer be realistic for most. That might not be a bad thing, though. Working full-time until 65 or 70 years old, then…
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