The Secure Act 2.0 was finally passed as just one part of a massive funding package by the outgoing congress just before Christmas on December 23, 2022, and signed into law by the president as the Consolidated Appropriations Act of 2023, an omnibus spending bill authorizing roughly $1.7 trillion in new Federal spending (yikes!). You’re … Read more
An important preliminary note: Given what took place in both the stock and bond markets in 2022, I’m starting the new year with a short series of articles about “safe” retirement income and the roles that bonds and other instruments may play in providing it. But from the outset, I want to reiterate some important … Read more
A character in the story of the birth and early days of Jesus we often overlook is a man named Simeon. Simeon was a devout Jew who regularly worshiped in the Temple at Jerusalem and was there when Mary and Joseph brought Jesus in. Luke tells the story in Chapter 2, verses 22 thru 35: … Read more
Now that I’ve reached age 70, I’m looking forward to getting just a little older. Why? Because when I reach age 70½, I’ll be eligible to make Qualified Charitable Distributions (QCDs). I first mentioned QCDs on this blog in an article published in December of last year titled ”My Year-End Retirement Stewardship Review and Planning … Read more
An increasing number of boomer-aged families are receiving inheritances; it’s all part of a trillion-dollar transfer of wealth that will happen over the next several decades. Gen. Xers are next in line. Many families near or in retirement have aging parents, so an inheritance may be in their future. They can come in different forms—possessions, … Read more
I recently read an interesting study on retirement from A.G. Edwards and AgeWave. It was published earlier this year. The study covered a lot of ground and was only partially focused on the financial aspects. You may want to read the study in its entirety, but in this article, I’ll touch on its most significant … Read more
I recently re-read Tim Challies’ article titled ”Rule #5: Ponder the Brevity of Life (8 Rules for Growing in Godliness), in which he wrote the following: Aware of death’s inevitability, we must discipline ourselves to ponder just how short our lives will be. Though our hearts are set on immortality, we are heading toward certain … Read more
If you read much about retirement finance, you’ll see a lot of hyperbolic rhetoric about “Required Minimum Distributions,” or “RMDs.” You’d think RMDs are going to sneak up on you and devastate your financial plans in retirement. Spoiler alert: they’re probably not. Yes, RMDs will impact your savings, income, and taxes, but not as much … Read more
The mid-term elections are nearing, and the next presidential election is only two years away. There’s already a significant uptick in the super-charged rhetoric from both sides of the increasingly polarized political spectrum. I’ve never directly written about politics or the culture wars; I’ve preferred to instead think about how they impact economics and personal … Read more
