Retirement - Hegwood Law Group

Planning for Future Healthcare Costs

Healthcare is one of the biggest expenses any person must shoulder, but especially those that are retired. Despite working and saving for your entire life, many people discover they are not financially prepared for the high cost of medical expenses,…

What Are the Advantages of A Retirement Trust?

Saving for retirement is often a delicate topic for many people. Whether they are worried about when to save, how much to save, or how to save, this is one topic that often has many people perplexed about their future.…

Smart Strategies for Social Security Benefits Taxes

The issue of whether your Social Security benefits are taxed is based on your "provisional income." This is your adjusted gross income—not counting Social Security benefits—plus nontaxable interest and half of your Social Security benefits. Kiplinger’s recent article, “5 Ways…

Bonehead Mistakes Retirees Need to Avoid

With the excitement of retirement, money can be the last thing you would have on your mind. However, if you have a careless approach to your money, you can be headed for financial pain. Starts at 60 recently published an…

Some Surprising Expenses in Retirement

After working hard and saving your money wisely, you’re ready for a successful retirement. Unfortunately, there can be bumps and hiccups with the plans. Nobody wants to be caught off-guard when it comes to saving for the future, so Forbes…

Retirees Help Us Learn from Mistakes

As you get nearer to retirement, there is more pressure to plan ahead. Kiplinger’s article, “4 Big Retirement Regrets That You Should Avoid,” says that sometimes failure is the most effective teacher. Retirees often consider their regrets and the things…

Create Your IRA Exit Plan

IRAs, 401(k)s, 403(b)s and other qualified accounts are popular tools for building a retirement nest egg. But after investing and saving with one of these plans for the last 30 years, as retirement nears you may ask yourself, "What should…

Accumulating Income in the Decumulation Phase of Life: Retirement

Retirement is often called the “decumulation” phase, when retirees are steadily spending down their assets. However, many retirees are not only leaving their nest eggs intact but are also saving a large part of their income. Recent studies say that…

Make Lower RMDs When Your Retire

Many of us have invested in a 401(k) or some similar savings plan so that we can enjoy a comfortable retirement. But did you know that there are short-term benefits as well? Contributions are not included in current taxable income.…

Old School Traditional IRA versus New School Roth

Money Magazine says that the generation gap has a new frontier: IRAs. The article, “Why Older Americans Should Get Hip to the Roth IRA,” says that the older you are, the more likely you are to favor a traditional IRA…