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15 Tips for Those Within 10 Years of Retirement
15 Tips for Those Within 10 Years of Retirement
If you re nearing the finish line, it s time to add these items to your to-do list so you ll be ready to retire.
Editor s Note: This story originally appeared on NewRetirement.
On your marks, get set… RETIRE! If you are in your 50s or 60s, you are probably about 10 years from retirement (give or take). Maybe you are even just a year from retirement. Regardless of the exact timing, you are in the home stretch of a lifelong race to this exciting time of your life.
The following are things to do now if you are 5–10 years from retirement to improve your future.
Keeping track of investments isn t getting any easier. For those trading stocks, options and crypto, it s not uncommon to have dozens or even hundreds of positions. And even for index fund investors, like me, juggling 401k, IRA, HSA and taxable accounts is no picnic. Enter stock tracking apps.
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May 4, 2021 7:00 AM MoneyTips
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1. Use a Roth IRA
Because Roth IRAs are funded with post-tax dollars, they are flexible retirement income sources and excellent for plugging retirement income gaps. You may draw contributions out at any time and earnings may be withdrawn tax-free if you are at least age 59½ and have had the account for at least five years.
Roth IRA contributions are less attractive when you are in higher-earning years where a high tax bracket applies. Contribute to a Roth IRA when tax conditions are favorable or convert a traditional IRA to a Roth IRA in a year where your adjusted gross income (AGI) is low, taking the tax hit while you’re in a lower tax bracket.
New Hampshire Retirement Specialist, Dan Hagler s Newest Book, Build Wealth Like a Shark Becomes Amazon #1 Bestseller
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BEDFORD, N.H., April 16, 2021 /PRNewswire/ Build Wealth Like a Shark, the newest book by Dan Hagler, Kevin Harrington, Scott Keffer and 28 of North America s leading authorities reached the #1 bestseller status on Amazon in the United States, Canada and Australia in multiple categories, including free enterprise and capitalism; international economics; and mutual funds investing. The world has changed permanently and there are new rules for building wealth. The global lockdown, stock market uncertainty and looming economic recession create the need to be sure you have a tested, integrated wealth building plan that takes advantage of every financial and tax saving opportunity and protects against every wealth-destroying danger, says Dan Hagler, CFP, AEP., Financial Educator, Author, Speaker, Tax and R