Many people assume their taxes will be lower in retirement, but that’s not always the case. In fact, as Dustin with Mundorf Wealth Management explains to Erin Kennedy there are 4 good reasons your taxes might being higher in retirement:
A recent survey by AARP found that many Americans over 50 don't feel confident about their finances. However, if you follow these 3 specific strategies, as explained by Dustin with Mundorf Wealth Management to Erin Kennedy you will certainly feel more in control, and you'll be setting yourself up for a financially happy retirement. Here's a look at those three strategies:
Understanding the three main financial phases in your life is key to maximizing your finances. As Dustin with Mundorf Wealth Management explains to Erin Kennedy, each stage has different goals, risks, and opportunities.
It's possible to achieve sustainable income in retirement by utilizing the "Retirement Bucket Strategy." This strategy involves dividing your retirement savings into different "buckets" based on your time horizon and risk tolerance. In this video, Dustin with Mundorf Wealth Management and Erin Kennedy explain each bucket:
For several months, The Fed has left interest rates unchanged. It's not great news for borrowers, but as Dustin with Mundorf Wealth Management explains to Erin Kennedy, there may be limited time for savers to take advantage of some unique opportunities.
Inflation is the natural enemy of retirement savings, but there are strategies you can put in place to guard your nest egg from spiking consumer prices — and they may even allow you to use those higher costs to your advantage.