Retirement


The Mailbag brings us Retiree Tax Questions

From The Mailbag: Retiree Tax Questions

Tax time always brings a lot of questions from readers.  Today’s post is a compilation of tax-related questions received from retirees: Taxable vs. Non-Taxable Retirement…


Five Things To Know About Inheriting An IRA

Five Things To Know About Inheriting An IRA

I received a lot of email after my recent article on required minimum distributions (RMDs), the IRS-mandated withdrawals you normally must make from a traditional…




How Your Income Tax Changes When You Retire From The Military

Tax Changes When You Retire

Several people have asked me to write about how your income tax changes when you retire from the military.  On one hand, it is pretty…


Pros and Cons of the New Military Retirement Plan

Pros and Cons of the New Military Retirement Plan

There are some big changes coming to military retirement planning. The 2016 Defense Authorization Act will transform the military’s traditional, 20-year retirement system to a…


How to get your military 1099R retirement pay tax statements.

Obtaining 1099R Tax Statements

It is the time of year when I get a lot of emails asking me to send tax statements. While I’d love to help people…



How Much Is Military Retirement Pay?

How Much Is Military Retirement Pay?

Update:  Regarding all the comments with regard to Social Security and Medicare taxes:  the commenters are correct.  Military retirement pay is not subject to Social…


Mixing Money When You Get Married

Mixing Money When You Get Married

Mixing money is one of the hardest parts of a new marriage.  Money problems are one of the leading causes of marital problems, and no…


Residency for Military Retirement

State of Legal Residence for Retirees

I’ve read quite a few questions lately from recent retirees who are confused about their state of legal residency, and where they need to file…



2016 Retired Military Paydays

2016 Retired Military Paydays

Retired military paydays are on  the first business day of each month, unless that day falls on a weekend or holiday, then the payday is the…



Everyone will leave the military eventually, and you can make that transition easier by planning ahead.

Start Preparing To Separate NOW

Someday, you’ll leave the military.   Whether you do one term or stay until retirement, the time to start thinking about leaving the service is…


Stack of dollar bills.

TSP & IRA: You Can Do Both

Across the many different channels where I talk to military members, I’ve heard the same confusion again and again: how the Thrift Savings Plan (TSP)…


Are You Doing Retirement Savings Right?

Are You Doing Retirement Savings Right?

This morning, I was listening to NPR and a story came on about income inequality in retirement.  It was an interesting story, though I think…


Money in a jar.

Saver’s Credit Rewards You For Saving

Did you know that there is a valuable tax credit for lower-income workers who contribute to retirement savings accounts?  The Retirement Savings Contribution Credit (Saver’s…


2016 IRA Contribution Limits

2016 IRA Contribution Limits

The Internal Revenue Service (IRS) has announced the contribution limits and deductibility limits for Individual Retirement Arrangement (IRA) accounts for 2016. The Contribution Limit The…