A reader asks: I’m 46 and plan to retire by 55. I’ve calculated that I’ll reach my retirement number in another 6 years giving me a decent buffer for retirement. I have a $500k mortgage at 5.625% with 28 years left. I’m comfortable with debt and don’t see a big concern. I agree with your … Read more
Image Source: 123rf.com More than 4.1 million Americans will turn 65 this year, and many will make the decision to retire. Notifying your employer of your retirement is a common courtesy that is slightly different than resigning or quitting a job. If you’re preparing your retirement letter to your employer, there is some etiquette you … Read more
This article originally appeared on Inside Climate News, a nonprofit, non-partisan news organization that covers climate, energy, and the environment. Sign up for their newsletter here. There is renewed talk of a coal power comeback in the United States, inspired by Donald Trump’s return to the presidency and forecasts of soaring electricity demand. The evidence … Read more
A reader asks: If Bill Sweet’s favorite topic is Roth IRA’s/401K’s, I’d bet his second favorite is tax gain harvesting (in a taxable account). For 2024, individuals with taxable income below $47,025 ($94,050 for married couples) pay 0% tax for long-term capital gains (LTCG). In years when you’re under the threshold you could effectively lock … Read more
One of the biggest reasons I was against contributing to a Roth IRA is my belief that most people won’t make more money in retirement than while working. As a result, they’re unlikely to pay a higher tax rate in retirement than during their working years. This belief also assumes that tax rates will stay … Read more
