Make Time For A Retirement Checkup
Kiplinger's Personal Finance|February 2020
One thing I’ve learned two-plus years into my retirement is that handling legal and financial affairs can be a full-time job.

Dealing with Medicare, filing for Social Security, monitoring your investments, minimizing taxes, figuring out required minimum distributions, updating your estate plan and end-of-life wishes … yikes!

Fortunately, Kiplinger’s is around to help. But I was also intrigued recently when I received an invitation to the Smart Money Retirement Expo, presented by the investment management firm of Edelman Financial Engines, the Funding Our Future Coalition and radio station WMAL in Washington, D.C. It sounded like a good opportunity to make sure I’m checking the right boxes and see what needs attention. So I attended several sessions of particular interest to people already in retirement and came away with a number of useful reminders.

For example, in the session on generating retirement income, one observation came as a jolt. Even if you have, say, $1 million in savings, you’ll probably have much less than that after paying taxes on withdrawals. Part of your Social Security income may also be taxable.

Continue reading your story on the app

Continue reading your story in the magazine

MORE STORIES FROM KIPLINGER'S PERSONAL FINANCEView All

WHERE TO INVEST IN

Investors will have to curb their enthusiasm as markets get back to normal.

10+ mins read
Kiplinger's Personal Finance
January 2022

When to Call In a Professional

For some investment categories, choosing an actively managed fund makes sense.

5 mins read
Kiplinger's Personal Finance
January 2022

Shop for a New WIRELESS PLAN and Save Big

Competition is fierce, and carriers are dangling free phones and streaming subscriptions.

10+ mins read
Kiplinger's Personal Finance
January 2022

PRESCRIPTION FOR 2022 - These Health Care Stocks Should Thrive

Pharmaceutical and health sciences firms are riding powerful demographic trends amid a golden age of innovation.

7 mins read
Kiplinger's Personal Finance
January 2022

My Top 10 Stock Picks for 2022

STREET SMART

5 mins read
Kiplinger's Personal Finance
January 2022

Lower Taxes on Your RMDs

When you turn 72, you’ll have to start taking minimum distributions from your IRA and 401(k). These strategies will help trim Uncle Sam’s take.

9 mins read
Kiplinger's Personal Finance
January 2022

How to Choose the Right Payment App

Using PayPal, Venmo, Zelle and other apps is convenient, but there are pros and cons to each.

9 mins read
Kiplinger's Personal Finance
January 2022

ENERGY STOCKS - Storming Back

A combination of tight supplies, rising demand and continued economic growth is fueling the energy sector.

5 mins read
Kiplinger's Personal Finance
January 2022

Best Sources of Emergency Cash

MILLENNIAL MONEY

3 mins read
Kiplinger's Personal Finance
January 2022

A Guide to 401(k) Plans

Consider these strategies to get the most out of your savings.

3 mins read
Kiplinger's Personal Finance
January 2022
RELATED STORIES

5 Ways Seniors Can Safeguard Against Cyber Criminals Stealing Their Identity

As the use of personal computers and cell phones has grown over the last two decades, identity theft has surged. One study found that over 14 million consumers were victims of identity fraud in 2018, and that their out-of-pocket costs totaled $1.7 billion.

3 mins read
The Best of Times
August 2020

Where to retire? The search goes on

48 hours to figure out if Palm Springs checks off the ‘musts’ on the list

6 mins read
The Good Life
May 2020

She Wasn't Happy About Retirement. But The Alternative Seemed Crazy

I wasn’t really thrilled with retirement. I wasn’t thrilled about coming out of it either

10 mins read
Guideposts
October 2019

Retire, Reboot, Start A Business

More people in the second half of life are taking a turn as an entrepreneur

3 mins read
Bloomberg Businessweek
September 23, 2019

How Friends Are The Key To A Happy Retirement

The key to a happy retirement is strong relationships

5 mins read
Guideposts
June/July 2019

How To Plan For Retirement– At Any Age

One family prepares for its financial future and provides insights for the rest of us.

6 mins read
Reader's Digest US
April 2019

Dream Of Early Retirement?

Yes, you can get fire’d up and financially free in your 30s and 40s— as long as you do some detailed planning.

3 mins read
Inc.
March - April 2019

Becoming Your Own Landlord Can Boost Your Retirement Income

Why investing in real estate can boost your retirement income.

3 mins read
Inc.
December 2018

It's never Too Late For A Second Act

How to start something new late in your career and still protect your retirement.

3 mins read
Inc.
November 2018

Old And In The Way At IBM?

In a new lawsuit, former workers say Big Blue targeted their gray hair

4 mins read
Bloomberg Businessweek
September 24, 2018