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What to Review Before Retiring With $1 Million or More Retiring with One million or more is a major accomplishment. It usually represents decades of work, saving, discipline, and market participation. But reaching a seven-figure portfolio does not automatically mean the retirement plan is complete. The question is not only, "Do I have enough?" The better question is, "Is what I have organized to support income, taxes, healthcare costs, market volatility, a surviving spouse, a

How Beneficiary Planning Can Affect Your Family's Taxes Beneficiary planning is one of the most overlooked parts of retirement planning. Many retirees assume their will controls everything. In reality, accounts such as IRAs, 401(k)s, Roth IRAs, annuities, and life insurance policies often transfer by beneficiary designation. That means the form on file with the financial institution may control who receives the asset. If beneficiary designations are outdated or poorly coordin

Why Asset Location Matters in Retirement Most investors are familiar with asset allocation. That means deciding how much of a portfolio is invested in stocks, bonds, cash, and other assets. Asset location is different. Asset location asks where those investments should be held: taxable accounts, tax-deferred accounts, or Roth accounts. In retirement, this can matter because different accounts receive different tax treatment. The goal is not to avoid taxes completely. The goal

Do You Have a Retirement Portfolio or Just a Collection of Accounts? Many successful retirees have done the hard part. They saved. They invested. They built meaningful assets. They may have IRAs, 401(k)s, Roth accounts, brokerage accounts, bank accounts, annuities, pensions, Social Security, and real estate. But having accounts is not the same as having a retirement portfolio. A true retirement portfolio is coordinated. Each account has a purpose. Each asset has a job. The wi

Portfolio & Legacy Planning: Coordinating Wealth for Retirement and the Next Generation A retirement portfolio should do more than hold investments. It should support income, manage risk, create tax flexibility, and align with the family's legacy goals. That is where portfolio and legacy planning meet. Many retirees have accumulated assets across multiple accounts: IRAs, 401(k)s, Roth accounts, brokerage accounts, bank accounts, annuities, real estate, life insurance, and bus

How Retirement Income Can Affect Medicare Premiums Many retirees are surprised to learn that Medicare premiums can increase when income rises. This happens through IRMAA, which stands for Income-Related Monthly Adjustment Amount. IRMAA is an additional amount that certain higher-income Medicare beneficiaries pay for Medicare Part B and Part D. The important planning point is that Medicare premiums are not based only on age or enrollment. They can also be affected by income. W

The Widow's Penalty: A Retirement Tax Risk Many Couples Miss Many married couples build retirement plans around joint income, joint expenses, and joint tax filing. That can make sense while both spouses are alive. But retirement planning should also ask a harder question: what happens financially when one spouse dies? The widow's penalty is a common term used to describe the tax pressure a surviving spouse may face after the death of a spouse. It is not a formal IRS penalty.

How RMDs Can Affect Your Retirement Tax Picture Required Minimum Distributions, or RMDs, are often treated like a future administrative task. For many retirees, they are much more than that. RMDs can change the retirement tax picture because they force withdrawals from certain retirement accounts once the applicable age is reached. These withdrawals are generally taxable as ordinary income. If the account balance is large, the required distributions can become significant. Th

Roth Conversion Planning: What Retirees Should Know A Roth conversion can be one of the most discussed retirement tax strategies, but it is also one of the most misunderstood. The basic idea is simple: move money from a traditional IRA, 401(k), or similar pre-tax retirement account into a Roth account and pay tax on the converted amount. After that, qualified Roth distributions may be tax-free. The planning question is not, "Are Roth accounts good?" Roth accounts can be valua

Tax-Efficient Retirement Planning: Why Retirement Taxes Need a Strategy Many retirees assume tax planning ends when they stop working. In reality, retirement can make tax planning more important. During your working years, income may be relatively predictable. You earn wages, contribute to retirement accounts, receive a W-2 or business income statement, and file a return. In retirement, income may come from multiple sources, each with different tax treatment. You may have Soc

Why Retirees May Need a Volatility Buffer Market volatility feels different when you are retired. During your working years, a downturn may be frustrating, but you may still have wages, time, and ongoing contributions. In retirement, a downturn can create a different problem: you may need income at the exact time your investments are down. That is why some retirees may benefit from a volatility buffer. A volatility buffer is a source of income or liquidity designed to help re

What Is Sequence-of-Returns Risk? Sequence-of-returns risk is the risk that poor investment returns early in retirement can have an outsized impact on your long-term financial plan. It is not only about the average return you earn. It is about the order in which returns happen. This risk becomes especially important when you are withdrawing money from your portfolio. If the market declines early in retirement and you continue taking withdrawals, you may be forced to sell inve

How to Build a Retirement Withdrawal Strategy Retirement income does not happen by accident. Once paychecks stop, your assets must be organized to help support your lifestyle. That requires more than deciding how much to withdraw. It requires deciding where the money should come from, when it should be taken, and how each decision may affect taxes, risk, and long-term flexibility. That is the role of a retirement withdrawal strategy. A withdrawal strategy is a plan for turnin

Why Retirement Requires a Different Plan Than Accumulation Most people spend decades building wealth. They contribute to 401(k)s, IRAs, brokerage accounts, savings accounts, and sometimes pensions or annuities. They ride out market cycles, keep working, keep saving, and measure progress by account growth. That is the accumulation phase. Retirement is different. Once paychecks stop, the portfolio often has to begin sending money back. The direction of cash flow changes. Inst

Retirement Income Planning: Turning Savings Into a Retirement Paycheck For most of your working life, the objective is clear: save, invest, and grow. Retirement changes the assignment. Once regular paychecks stop, the question is no longer only, "How much did I accumulate?" The more important question becomes, "How will my assets support my income, taxes, healthcare needs, spouse, and legacy over time?" That is the purpose of retirement income planning. Retirement income plan