Getting Your Retirement Money Early -- Without Penalty
There are several ways to avoid the extra 10% tax on early distributions from retirement plans. You may be able to avoid the penalty if you become disabled, pay child support or alimony from your retirement plan, or withdraw money to pay medical expenses.
Top Six Tax Deductions for Seniors and Retirees
Here's a list of the top tax deductions for those over 50.
Starting a Retirement Business
Retirement can be the perfect time to start your own business. Whether you're itching to be your own boss and do things your way or -- like millions of retirees -- you need some extra income, starting a business can help make retirement everything you want it to be. But the key to a successful, fulfilling retirement business is choosing wisely.
Help Your Family Claim Retirement Benefits
There are good reasons to make a record of your retirement accounts. If you ever become incapacitated, the person in charge of your finances will have to manage your accounts for you. After your death, your survivors will want to file claims for any outstanding benefits. Read on to learn what happens to your retirement accounts after your death and how to help family members claim benefits.
Loving Life and Staying Busy in Retirement
Why do some retirees cope with life so much better than others? Part of the answer is fairly obvious: things like getting lots of exercise, keeping busy, and creating strong friendships and family bonds. But something else also seems to be at work. Since I can't quite describe it, I simply call it "love
Tax Deductions for Your Charitable Contributions and Volunteer Work
After retirement (and even before), many people are looking for meaningful ways to spend some of their newly free time and to make a difference in the world -- and volunteer work is often the solution. Of course, volunteer work isn't the only way to help others: If you are fortunate enough to have cash or property to donate, your chartitable giving can fund worthwhile endeavors. Whether you give money, property, or your time, the IRS is willing to give you a little help in the form of tax deductions.
Reverse Mortgages: Restrictions and Requirements
The FHA recently made changes to the availability of certain types of reverse mortgages, including the popular standard fixed-rate Home Equity Conversion Mortgage (HECM).
Can I Loan My Parents Money as a Reverse Mortgage?
An intra-family reverse mortgage on a home is possible and offers many benefits.
Learn about reverse mortgages, including the upsides—and many downsides—to getting one.
Key Steps in Making an Intrafamily Reverse Mortgage Loan
Let’s say you and perhaps other members of your family are interested in setting up a reverse mortgage loan for another family member.