Monday Morning Money
Taxing Social Security

Taxing Social Security

January 17, 2021

Today we focus on taxing Social Security benefits. We cover:

  • How to know if your benefits are taxable or not
  • Examples to show you how provisional income is computed.
  • Potential surprises you may encounter in retirement. 

To learn more, visit: https://flemingwatson.com/taxing-social-security/

How Retirement Income is Taxed

How Retirement Income is Taxed

January 10, 2021

Today we look at how the most common types of retirement income is taxed.  We look at:

  • The common types of accounts retirees use,
  • The types of income taxed at the highest rates
  • Types of income which receive favorable tax treatment.

To learn more visit: https://flemingwatson.com/how-retirement-income-is-taxed/

4 Reasons to NOT Take Social Security at 62

4 Reasons to NOT Take Social Security at 62

January 3, 2021

Many people want to retire as early as possible, something we completely understand. But it may not be the right decision. Today we discuss 4 reasons to NOT take Social Security at age 62.

The reasons include:

  • Big discounts for early retirement.
  • The negative impact on spousal and survivor benefits.
  • Smaller lifetime benefits.
  • Penalties to continue working.

To learn more, visit: https://flemingwatson.com/4-reasons-to-not-start-social-security-at-62/

Closer to Retirement: Should You Save More or Payoff Your Mortgage?

Closer to Retirement: Should You Save More or Payoff Your Mortgage?

December 20, 2020

As you get closer to retirement, should you save more or pay off your mortgage? 

This is a question we received from a listener.  Let's take a look at what factors into your decision.

To learn more, visit: https://flemingwatson.com/save-more-or-pay-off-your-mortgage/

What is Tax-Loss Harvesting?

What is Tax-Loss Harvesting?

December 13, 2020

A listener asks a question about year end tax planning.  Can tax-loss harvesting help your tax situation?  Today we look at this strategy and how it works.

If you would like to learn more about this topic, please visit:  https://flemingwatson.com/what-is-tax-loss-harvesting/

Is Bitcoin a Good Investment?

Is Bitcoin a Good Investment?

December 6, 2020

Is Bitcoin a good investment? It is the new frontier in the investment world.  Its gains over the past six years will catch your eye.  Today we will answer a listener question about the digital currency and its characteristics.

Our question is from Chris. He writes, "A guy at work keeps talking about Bitcoin. I don't understand it. What is it and should I consider investing in it?”

To learn more, visit:  https://flemingwatson.com/is-bitcoin-a-good-investment/

How to Pick Funds for Your 401k

How to Pick Funds for Your 401k

November 29, 2020

A listener writes:  ""I'm trying to choose investments for my 401k. How important are the three-year and five-year returns when picking the funds? What should I be focusing on to choose the right investments?"  

To learn more, visit:  https://flemingwatson.com/how-to-pick-investments-for-your-401k/

What are the Obstacles To Your Retirement?

What are the Obstacles To Your Retirement?

November 22, 2020

Whether you are 2 years away from retirement or 20, we all face similar obstacles.  Today we'll talk about the three biggest ones and some things you can do to overcome them.

 

To learn more, visit: https://flemingwatson.com/obstacles-to-your-retirement/

 

Offered Early Retirement? Start Here

Offered Early Retirement? Start Here

November 15, 2020

A listener was offered early retirement.  There is a lot to consider before making your decision to retire—even if you weren't offered an incentive.  If you're thinking about retiring soon, and don't know where to begin, start here.

 

To learn more, visit:  https://flemingwatson.com/offered-early-retirement-start-here/(opens in a new tab)

 

To talk to a CFP® Pro, Click Here

How Could Your Taxes Change in 2021?

How Could Your Taxes Change in 2021?

November 8, 2020

How could your taxes change in 2021?  We're still waiting on election results.  But, we can look ahead to the potential changes to your taxes if Joe Biden wins the election.

To learn more, visit: https://flemingwatson.com/how-could-your-taxes-change-in-2021/

 

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