There is a rumbling amongst the younger segment of the population. Most notably, the Millennials, who are in the process of trying to turn the traditional idea of retirement on its head.
Between the seemingly daily headlines announcing changes to Medicare and the alphabet soup of supplemental care insurance, we at Affiance Financial feel it is important for you to know what to expect with open-enrollment season upon us.
by Kyle Berg
Imagine this. You’ve worked hard to save every penny you could so that you can finally call it quits and not have to work another day in your life. Your retirement savings have well exceeded the United States household average of $17,000. Now, you are six months into your 70s and Uncle Sam wants a cut of what you have worked so hard to save. So, you have to take a required minimum distribution, or RMD for short. Failing to do so will cost you 50% of the distribution, which is something you want to avoid at all costs.
By Steve Lear