Weekly Roundup July 22 - 26, 2019

Among the best stories from Retirement Daily for July 22 - 26: Retirement bucket strategies, required minimum distributions, and making the most of your tax brackets.
By Anne Stanley ,

Among the best stories from Retirement Daily for July 22 - 26: Retirement bucket strategies, required minimum distributions and making the most of your tax brackets.

Ask Bob: Why Delay Social Security Past Age 70?

A reader asks Editor Bob Powell: Are there situations where someone might decide to claim Social Security after age 70, for income tax and/or other reasons such as avoiding having to pay the income-related monthly adjustment amount (IRMAA) on Medicare Parts B and Part D?

Answer: The short answer is no. "I'm racking my brain trying to think of a reason not to take Social Security benefits at 70 if you haven't done so already, but I can't think of one," says Jeffrey Levine, the CEO and director of financial planning at BluePrint Wealth Alliance.

And in case you missed them, here are more great stories from Retirement Daily:

Briefing: Latest Retirement News

Retirement bucket strategies can be ambiguous: The ambiguity of retirement bucket strategies could mean financial advisers risk mistakenly labeling particular expenses that a client considers vital as discretionary, writes Michael Kitces of Pinnacle Advisory Group. Retirement expenses must be correctly categorized to make sure they are covered by retirement assets, suggests Kitces. Read more from the world of retirement-related news, including contributing to a Roth 401(k) and healthcare for folks retiring outside the U.S.

Required Minimum Distributions: When and How to Take Them

Adviser Marguerita Cheng details the ins and outs of required minimum distributions, how to avoid penalties, manage QCDs and more. "Every year you enter a new decade is a cause for celebration," she writes. "Turning 70 is no exception. For some, turning 70½ is another milestone, because that is when they must start taking required minimum distributions (RMDs) from their traditional, SEP, SIMPLE IRA or qualified plan participants. Roth IRAs and other post-tax accounts do not require distributions until after the death of the owner. Withdrawals or distributions can be taken without penalty once you've reached retirement eligibility."

Ask Bob: Looking for Income-Producing Investments That Are Safe

Question: I am in my 80s and looking for an income-producing but relatively safe investment. I have about $30,000 to work with.

Answer: If you are in your 80s and living on a fixed income, Jan Valecka, a certified financial planner with Valecka Wealth Management suggests first that you have around six to 12 months of living expenses accessible in savings.

Compensation for Family Member Caregivers

Jeanette Pavini has resources and information for people caring for their elderly parents or for family members with disabilities.

Making the Most of Your Tax Brackets in Retirement

Adviser Jason Coleman looks at some of the significant tax changes that came with the Tax Cuts and Jobs Act and how retirees can use them to their advantage. He writes: Many retirees (and non-retirees) will benefit from lower taxes due to the Tax Cuts and Jobs Act put into effect in January of 2018. With the increase in the standard deduction and lower tax rates, taking income from your retirement accounts could cost you less in taxes than in previous years. This gives retirees an opportunity to do some strategic income and tax planning in the early years of retirement before you have to start taking required minimum distributions (RMDs) from your qualified retirement accounts.

New Investments and Products for Retirement

The following are new investments that those saving for or living in retirement might consider for their portfolios. This week: two large-cap "biblically responsible" exchange-traded funds.

Ask Bob: Should I Be Buying CDs?

A reader asks whether they should be buying CDs in addition to investing in stocks and real estate.

New Retirement Research

Here are some of the latest reports, surveys, and studies related to retirement, including research into retirement saving for millennials, defensive investing, FICO scores and more. 

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