Navigating the Complexity of Taxes in Retirement: Strategies for a Smooth Financial Journey

As we venture into the golden years of our lives, retirement beckons as a time of relaxation and enjoyment. However, the path to a stress-free retirement can be obstructed by a challenge many retirees face: taxes. The intricate nature of tax laws can make it difficult to navigate the tax landscape during retirement. Fortunately, there are strategies that can help you navigate this complexity and alleviate the burden of taxes. In this blog, we will explore the challenges associated with taxes in retirement and discuss strategies that can lead you towards a smoother financial journey.

Can you retire on 1 million dollars ?

Many Americans believe they can retire on 1 million dollars in a retirement account like a Traditional IRA or a 401k. Is this possible for the average retired couple? Can you retire on 1 million dollars?

What is compound interest? Put your money to work.

Compound interest is like magic money that grows over time... Put your money to work for you.

Are Your Accounts Safe After the Recent Bank Collapses?

Are Your Accounts Safe After the Recent Bank Collapses? Yes.

The collapse of Silicon Valley Bank (SVB) has been dominating headlines and causing confusion and concern among investors. Our clients are our number one priority, and we want to be sure you understand the current bank collapse situation and how it might affect your accounts. The bottom line: Your accounts are safe. The firm stands behind Federal Deposit Insurance Corporation (FDIC) coverage of its Core Accounts Sweep Program provided to clients. The FDIC insures up to $250,000 per depositor at each insured bank. Commonwealth’s network of 27 banks creates a safety net for much more than that by cascading funds across insured institutions to offer maximum security.

Why does the stock market lead the economy?

What does it mean that the stock market leads the economy? And why does it? What are some examples?

The 10 Most Common Investment Mistakes

Here are ten of the most common investment mistakes:

What is evidence-based investing?

Evidence-based investing (EBI) is an investment philosophy and strategy built on decades of historical data and research, not on gut feelings or best guesses. The research shows that asset allocation, usually via low-cost index funds, increases the probability of outperforming active or individual stock-picking strategies over the long term.



It’s Here: What You Need to Know About SECURE 2.0

This article, however, addresses only key provisions pertaining to individual retirement savers (or accounts) and rules applicable to individuals rather than plan sponsors and administrators. The bill is quite broad (more than 4,000 pages), so we intend this article to be a high-level summary addressing the items most likely to affect individuals.

What will the market do in 2023?

While thinking and talking about this can be fun and entertaining, we should remember no one has a crystal ball. No one. Too many of us are fooled by randomness. Therefore, instead of planning for one outcome or one prediction, we need to plan for a range of outcomes. "He who lives by the crystal ball will eat shattered glass." -- Ray Dalio

What do those outcomes look like?

A few interesting predicted-outcomes are as follows.

What is going on with the market?

It is still wild times indeed and volatility continues. The bear market is upon us. Buckle up, but brace yourself to make it through unscathed.

There’s nowhere to run with stocks down, bonds down, crypto down, inflation eating away at cash, and currencies depreciating vs. the dollar.

And we rarely see the Fed raising rates into a bear market or a recession.

So, what should you do?