The older adult population is outpacing children in more parts of the U.S. As increasing numbers of Americans retire, that leaves a gap in the workforce that young adults, or their offspring, are unlikely to fill. https://t.co/Te18PxMI9i ...

You’re reading this article because you’re either in retirement, close to retirement, or years away from retirement. So, this article is meant for everyone. However, I’m targeting retirees because their time horizon is different from someone in their 20s, 30s, or ...

Many workers are not confident that Social Security will be around during their retirement. Here’s what you need to know about its future. https://t.co/Blq21D83MP ...

Experts advise thinking carefully about whether a micro-retirement is right for you by weighing factors like the job market, your finances, and your personal goals and motivations. https://t.co/Ka1DgXvJqK ...

Core Idea - The ultimate goal is to achieve financial freedom, eliminating the feeling of being confined or restricted [1]

Required Minimum Distributions (RMDs) Overview - Individuals generally must take their first RMD by April 1st of the year after turning 73, with subsequent RMDs required by December 31st each year; those born after 1960 have their first RMD at age 75 [1][2][3] - Failure to take the required distribution may result in a 25% tax on the undistributed amount [2] - RMD calculation involves dividing the total balance of tax-deferred retirement accounts (IRA, 401k, 403b) at the end of the previous tax year by the IRS's life expectancy factor for the individual's age [1][3] - Financial institutions typically calculate and inform clients of their RMD amount by the end of December [7] RMD Exceptions and Special Cases - An exception exists for individuals still working at the company sponsoring their 401k plan; they may not need to take RMDs until retirement [9] - Higher investment returns lead to higher RMDs, as the calculation is based on the account's value at the end of the previous year [10][11] - All individual retirement accounts (IRAs) are now viewed as one giant massive IRA for RMD purposes [13] - Aggregate RMDs from all IRAs must be fully satisfied before any distribution from any IRA can be converted into a Roth IRA, otherwise a 6% excess contribution penalty may apply [13][14] Inherited IRAs and the 10-Year Rule - Beneficiaries inheriting an IRA must empty the account within 10 years of the original owner's death [14] - If the original IRA owner died before their Required Beginning Date (RBD), beneficiaries do not have to take RMDs during years 1 through 9 but must empty the account by the end of the 10th year [16] - If the original IRA owner died on or after their RBD, beneficiaries must take an annual stretch distribution during years 1 through 9 and then take out the remaining balance by the end of the 10th year [17] Qualified Charitable Distributions (QCDs) - Individuals can use their RMD to make a qualified charitable distribution (QCD) to a nonprofit organization [18] - The money must go directly from the IRA to the nonprofit to avoid being counted as taxable income [18][19] - There are limits to QCDs, such as up to $100,000 that can be donated [19]

Retirement Planning - The 401(k) plan is the most popular retirement option for private-sector employees [1] - The document provides information on how 401(k) plans work and contribution limits for the current year [1]

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Millions of student loan borrowers who are on the verge of retiring should consider some options, like waiting a couple more years to finish paying off their loans or budgeting with their retirement income in mind. https://t.co/h2iMiG8XMU ...

Hey, I'm Kramer. Welcome to Mad Money. Welcome to Craig America. People make friends. I'm just trying to make you some money. My job is not just to entertain, but to educate and to teach you to be a better investor. So call me at 1800743 CBC or tweet me at Jim Kramer. Tonight I want to share some of my accumulated wisdom and there's a lot to accumulate in this business. There are so many different things you need to balance in order to be a great investor that it can be hard to keep track of everything. Now ...