Most retired folks know that IRS rules require owners of retirement accounts to take distribution when they reach a certain age. It’s called the Required Minimum Distribution or RMD. But sometimes people get some of the details wrong. So here are a few things to remember about RMDs Getting the RMD wrong can sting If …
Financial Planner
When Do Most People Retire?
Traditionally pension plans paid out at age 65. You can thank the “Iron Chancellor,” Otto von Bismarck of Germany for that. When he introduced a social security system to appeal to the German working class and combat the power of the Socialist Party in Germany during the late 1800s, he set the retirement age at 65. This …
What Happens if My Financial Planner Retires?
Financial planning is about thinking ahead, prudently planning for the future. With that in mind, it’s only natural that from time to time you might ask the question: “What happens when my financial planner retires?” Or you might as the question: “What happens if my financial planner gets hit by a bus?” What should I …