This article is the second of two about retirement account transfers and rollovers. First, we focused on transfers, which I defined as moving assets between two of the same type of retirement account, e.g., from a Traditional IRA with one provider to a Traditional IRA at another. In this article, we’ll look at rollovers, which … Read more
Most don’t think too much about income taxes in retirement. They just assume that they’ll pay less since it’s possible (likely?) that their income will be less. For many, that’s a reasonable assumption (at least as long as tax rates remain relatively low). Others believe that their Social Security retirement benefits aren’t taxable, further reducing … Read more
Well, folks, I have great news: as of today, my new book, Reimagine Retirement: Planning and Living for the Glory of God, has been released by B&H Publishing (LifeWay)! It is a project I have been working on for about 18 months, and I am thrilled to announce that it is available to order from LifeWay.com, Amazon.com, Christianbook.com, … Read more
A few years ago, a University of Chicago college professor named Harold Pollack remarked that everything you really needed to know about personal finance could be fit on a single 3×5 inch index card. Someone asked him to prove it, the result went viral, and Pollack actually ended up co-writing a book about it called … Read more
A friend recently sent me this link to a chart on PNC Bank’s website titled “A Timeline for Achievement” that provided a helpful list of age-based retirement planning milestones. (Disclaimer: This is not an endorsement for PNC, although I am sure they are a good bank, I just found the chart interesting. This kind of … Read more
Happy New Year! Planning is a wise part of retirement stewardship. But no matter how well we plan, we must always remember that “The heart of man plans his way, but the Lord establishes his steps” (Prov. 16:9). And now that we are closing out 2018 and looking out ahead to 2019, I thought I would share some thoughts … Read more
One of the ways we practice wise retirement stewardship is by making good use of the tax-advantaged savings plans at our disposal. Tax-deferral is a gift of God’s common grace that we can all take advantage of here in the U.S. (Psalm 145:9). As our savings earn interest and dividends and increase in value, we … Read more
You know the old saying, “The only things that are certain in life are death and taxes.” Yes, taxes are a reality – before, during, and even after retirement. But honestly, I don’t think or worry too much about taxes until tax time. Then I download a copy of TurboTax and go to work. My … Read more
