If you’re within a stone’s throw of retirement — for most folks, that’s somewhere between the ages of 55 and 65 — you’ve probably spent at least a little time dreaming about life after work. But before you turn off the computer and turn in your retirement paperwork, consider three important questions. *What will you do in retirement? If you...

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In a recent study by human resources consulting firm Willis Towers Watson, about 25% of American workers said they expect to retire at age 70 or later. But while retiring later in life may not be ideal from your perspective, here are a few late retirement benefits that might change your mind. 1.Your savings will last longer – According to...

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While retirement plan contribution limits have not increased for 2016, taking full advantage of allowable contributions and any amounts your employer matches is still a good idea. Contributions you make to employer-sponsored retirement plans reduce your taxable income because your employer deducts the amount you specify from your paycheck before taxes. For 2016, you can contribute $18,000 to your 401(k),...

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You’re probably well aware that interest from municipal bonds is generally not subject to income tax or the 3.8% Medicare surtax. So don’t make the mistake of turning tax-free income into taxable income by holding municipal bonds in the wrong kind of account. Municipal bond income in a retirement account will be taxed as ordinary income when you eventually take...

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Need to save more for retirement? Saving money doesn’t have to be hard work. In fact, many successful savers have found simple ways to cut spending and increase their savings. Here are some tips to help you get started and stay on track. * Figure out how much money you need for retirement. The number of years you have before...

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