A digest of news from publications around the nation about finance, investing, and retirement.
How all 50 states tax retirees | Kiplinger
Retirees relocate for lots of different reasons, from the weather to proximity to grandchildren. Moving from a pricey part of the country to one with low housing prices could also lower your expenses and make your retirement savings last longer. But as you consider the cost of living in potential retirement destinations, don’t overlook the impact of state taxes on your bottom line. Spoiler alert: Colorado is in the middle of the pack.
These tips can help retirees make required minimum distributions easy and tax penalty free | CNBC
If you’re 70½
or older and have, or inherited, a retirement account, you need to take your
required minimum distribution (RMD) by December 31. Miss that deadline, and
you’ll face a tax penalty. RMDs are the minimum amount that must be withdrawn
from retirement funds, such as an individual retirement account (IRA) or
employer-sponsored plans like 401(k)s. The amount you need to take out varies
from year to year and is based on specific calculations. But simple tips, like
getting paperwork in order and double-checking your math, can make the process
easier.
Don’t tell me how to retire | NextAvenue
The traditional definition of retirement – stop working at 65, full stop – is outdated. An episode of Friends Talk Money, a podcast on personal finances after 50, looks at examples where retirement in 2019 looks very different from that traditional picture.
Help needed to curtail Gen X’s anxiety about retirement | PlanSponsor
Generation X investors are less confident about their financial future than Millennials or Baby Boomers, according to E*TRADE’s quarterly StreetWise survey. Not having enough saved for retirement tops the list of worries for Gen X (ages 35 to 54), with nearly one-third (32%) choosing it.
Thousands of Americans are signing up to trade stocks for free. Here’s what to do instead | Money
In October,
the discount brokerage Charles Schwab announced a new policy of commission-free
stock, ETF and option trades. Following that announcement, rivals E*Trade,
Fidelity and Ameritrade quickly followed suit. Schwab, which agreed in
November to purchase Ameritrade for $26 billion, recently said it signed
up 142,000 new customers in October, up 30 percent from the number it
signed up in September. When it comes to investing, costs do matter. And
anything that promises to lower investors’ costs is worth applauding. But your
investment horizon should also be long-term. Making trades free seems to run
counter to that, encouraging people to trade more.
How do I get my last 6 months statements for my retirement?
Hi Marc,
If you’re referring to tax information about a payout you received or plan to receive from a job you left this year, you should check with that employer’s payroll/HR contact. If you’re wondering how PERA gets that information, your employer will send it to PERA directly.
If you have a more specific question about your PERA account, please call 800-759-7372. Someone here would be happy to look up your account and help you.