Many retirees are concerned about the state of Social Security, and some of them even expect the program to crumble in the next few years. Does that mean you should get your money out now…
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GMB Ep 245: Should We Move to Tennessee, Texas, or Florida to Reduce Costs in Retirement?
Lowest Cost States: Should We Move to Reduce Costs in Retirement? Financial media love to create lists of the “best” and “lowest cost” states to retire in. This week we answer a question about the…
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GMB Ep 234 – Is it Possible to Live Off Dividend Income Alone in Retirement?
Is it Possible to Live Off Dividend Income Alone in Retirement? A few weeks ago I had someone ask whether it was possible to live off of dividend income alone in retirement. This gentleman had…
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Retirement Is About Income … and Taxes
You’ve figured out your budget, your retirement nest egg is substantial and you’re ready to make the transition to living on income from savings instead of income from work. But have you thought through the…
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GMB Ep 226: How to Tell Whether an Annuity is Right for Your Retirement
Annuities have earned a bad reputation within the financial community over the years, but why is that? When might an annuity actually make sense in retirement? And how can you tell whether they’re a good…
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Retirement Planning for a New Paradigm
Are you thinking about retirement? There’s the good part – the travel, time with family, catching up with yourself or achieving long-held dreams or goals. But then there’s worrying if you’ve saved enough and you’ll…
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GMB Ep 206: Roth Accounts & Your Retirement Plan: New Options for Business Owners
The SECURE 2.0 Act of 2022 is a piece of legislation that passed at the end of last year and created new Roth options for business-sponsored retirement plans. There will be a new set of…
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The Roth-Only Catch-Up Contribution Rule Will Get Time to Catch Up
The SECURE 2.0 Act, which was passed in December 2022, made a significant change to the IRS catch-up contribution rules. The catch-up contribution allows those aged 50 and above to contribute an additional $7,500 to…
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GMB #196: Monte Carlo Simulations – Don’t Bet Your Retirement on One
We dedicated this week’s episode of Grow Money Business to the Monte Carlo simulation. When multiple outcomes are possible due to the presence of random variables, a Monte Carlo simulation can be used as a…
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Avoiding the Big Retirement Risks
Retirement is just as much a leap of faith as any other significant life change. No matter how much you prepare, you will only really understand all the implications when you start your new life….
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