Weekly Roundup Sept. 23 - 27, 2019

Anne Stanley

Among the best stories from Retirement Daily for Sept. 236 - 27: Getting ready for independence in your later years, what you must know about IRA contributions and RMDs, and an update on the stalled, but not yet dead, SECURE retirement legislation.

Most people know there's a difference between being alone and being on your own. And if you're a member of the boomer generation, or even younger, you know that whether through choice or circumstance, being on your own later in life brings new challenges. Perhaps we outlive our spouse or partner, and our children and siblings might be far away. In the first of a four-part series starting this week in Retirement Daily, adviser Jeannette Bajalia writes about these challenges and how to start planning for the unknown.

She cites data showing in the U.S., nearly 30% of the 46 million older people who live independently in the community live alone. About half of the people who are 85 years or older who live in the community live alone and three-quarters of older people living alone are women. In her guest column headlined, Emerging Aging Trends and How to Get Ready to Go It Alone, she talks about how to assess your estate plan, healthcare, and financial needs. "Getting help is of utmost importance. Being solo means that you have to navigate financial, medical/health, legal, and lifestyle decision-making on your own. You must find a trusted confidant who cares about you, not just your financial resources." In columns to be published in Retirement Daily in the coming weeks, she writes about creative housing options, protecting against outliving your money, and the importance of social connections for total well-being.

Read Emerging Aging Trends and How to Get Ready to Go It Alone

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

Ask Bob: I Didn't Know About Tax Liabilities on IRAs. What Now?

Ouch. This reader didn't understand the rules about IRA contributions and required minimum distributions.

Cheers and Jeers for the SECURE Act of 2019

Adviser Kevin Warman updates us on the stalled, but not yet dead, SECURE retirement legislation and what it would mean to those saving for and living in retirement. If you care about required minimum distributions, 529 plans and retirement plan contributions, you need to read this.

Your HSA: Is It a Health Savings or Spending Account?

Adviser Keith Whitcomb says HSA assets are growing. He reviews when investing the HSA for retirement is a good idea, and how those investments should be managed.

Tip of the Week: IRS OKs Medical Expense Deduction for Genetic Testing

This IRS private ruling signals the cost of genetic tests directly related to health assessments may qualify for a tax deduction.

Ask Bob: College Savings Accounts - Coverdell or 529?

A reader wants to know the pros and cons of 529 accounts and Coverdell education savings accounts, or CESAs.

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: a new ETF based on the Russell 2000 BuyWrite Index.

New Retirement Research

Here are some of the latest reports, surveys, and studies related to retirement, including research into borrowing, mortgage stress and deferred annuities.


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