, Things You Need to Know About Retiring in 10 Years


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Things You Need to Know About Retiring in 10 Years.

Retirement planning can be pretty challenging if you have not prepared ahead of time. It is important to assess your savings for retirement throughout but it becomes more critical during the retirement red zone. Ten years before or after retirement are regarded as a red zone by financial professionals. How your retirement portfolio behaves during this time determines your standard of living after you retire.

The good news is that you can prepare for a happy and smooth-sailing retirement by knowing about the challenges of this time period. Read through this post to learn how you can plan a secure future when you are just 10 years away from retirement.

How to Leave Money to Someone Who Can't Handle Money

Design your incentives and conditions thinking of the heirs you actually have, not the heirs you wish they were.We all love our children. And if we are blessed with a legacy to leave behind we all want them to enjoy it. But some of our adult children are more mature with handling money than others. Many families have grown up children who have issues that preclude leaving them any significant asset in a lump sum as it could quickly be squandered. For example you may not want to ...

Protecting Your Business from the Loss of a Key Person

Business owners may be able to protect themselves from the financial consequences of losing a key employee. Charles de Gaulle once remarked, “The graveyards are full of indispensable men.”¹ While we know that life goes on regardless of the loss of any “indispensable” person, for a small business, the loss of a key person is not only a human tragedy, it can also represent the potential for significant financial loss. Though business owners cannot protect themselves from the unexpected and ...

What Do Your Taxes Pay For?

Here's a breakdown of how the federal government spends your tax money.Taxes are one of the biggest budget items for most taxpayers, yet many have no idea what they’re getting for their money.In 2017, as in recent years, Americans spent more on taxes than on groceries, clothing, and shelter combined. In fact, we worked until late April just to earn enough money to pay our taxes. So what do all those weeks of work get us?1The accompanying chart breaks down the $4 trillion in federal ...