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.
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/
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.
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? 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?”
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: (opens in a new tab)
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