Well, the (MY) day of ”reckoning” is here. No, not the final judgement; I’m talking about sending the IRS their due (i.e., tax withholding) for 2025 for taxes due in April, 2026. As regular readers know, I’ve done more writing than usual about taxes, charitable giving, and the new tax laws. That’s because: If you’ve … Read more
This article is part of the Retirement Financial Life Equation (RFLE) series. I need to confess: In retirement, I’m what I call a “growth and income” investor, not a pure total-return investor. I suspect that’s true for many retirees, especially those in their 70s and beyond. What I mean is that as a retiree, I … Read more
This article is part of the Retirement Financial Life Equation (RFLE) series. Every so often, a viral post (or a variation on it) shows up on social media about Social Security. I recently saw one—not written by but shared by a friend—expressing frustration that the government was supposedly renaming Social Security checks as “Federal Benefit … Read more
This article is part of the Retirement Financial Life Equation (RFLE) series. The headlines can be concerning: “Social Security Trust Fund to Be Depleted by 2033!” “Automatic Benefit Cuts Coming!” “Bankruptcy Looms for Nation’s Largest Program!” If you’re counting on Social Security—most are, whether you’re already collecting, planning to retire soon, or decades away—these warnings … Read more
This article is part of the Retirement Financial Life Equation (RFLE) series. Most people think of Social Security as a “monthly check.” Some see it as something they paid for and therefore “earned.” Others view it as a government program that may not be available for the duration of their retirement. Many younger readers fear … Read more
Generally speaking, there are two “camps” (or schools of thought) for investing for and creating an income stream in retirement. The first could be called the “probability-based approach,” and the second the “safety-first approach.” These “camps” share some things in common but are often at odds with each other. The key difference is that the … Read more
Updated December 2025 to reflect the One Big Beautiful Bill Act (OBBBA) I’ve written previously about withdrawing from my Traditional IRA to help fund our retirement. I’ve also described how I began making Qualified Charitable Distributions (QCDs) in early 2023 after turning 70½ In a recent article, I explained how I might optimize my income … Read more
There are many retirement financial milestones to pay attention to: your penalty-free early distribution age from an IRA (59/12), eligibility for Social Security (early filer at 62 and full retirement age at 66–67), Medicare eligibility (age 65, for most), and your RMD age (currently 73; 75 beginning in 2033). I’ve already hit all those milestones … Read more
This article is part of the Retirement Financial Life Equation (RFLE) series, which focuses on the critical levers that affect your retirement income and financial sustainability. When I was preparing to claim Social Security benefits, I thought I understood how the taxation worked. After all, I’d written about it before on this blog. But when … Read more
