Moves Beyond Today’s Money SECURE STEPS TO A SAFE RETIREMENT
There’s often more to retirement planning than meets the eye, especially regarding taxes.
to provide to your heirs. However, prepare for the likelihood that putting too much money into a Roth conversion may lead you toward a higher tax bracket once retirement comes, so careful planning with professional assistance is advised. With taxes expected to rise in 2026 and beyond, it’s also prudent to work with a financial planner to implement strategies to reduce your financial obligations in retirement, including the amount taxed on your Social Security benefits. A Plan for Health Care Hurdles Unfortunately, reaching retirement age often means experiencing new health issues that could substantially impact your income. It is critical to consider how any changes to your retirement income may affect Medicare premiums or increase the chance of incurring penalties. Charting a financially secure future takes skill, focus, and tremendous care. What may work for someone else financially may not be the best solution for you. Consult a financial professional before implementing any plan that could drastically alter your comfort and security.
Although many people believe saving money for their golden years is the primary path to a secure retirement, tax planning and health care considerations play significant roles in the strength of one’s later years and subsequent legacy. Here are two essential aspects of proper retirement and estate planning that many often overlook. The Right Financial Tune-Up Time Frame The most significant risk to successful estate and retirement planning is not starting the process early enough. To ensure the smoothest transition possible, experts recommend engaging in tax planning no later than five years before you intend to retire. Getting a lengthy headstart will enable you to determine ways to make pretax funds work for you in tax-advantaged accounts. If you anticipate reaching a higher tax bracket in retirement, converting to a Roth IRA — in which you can grow post-tax funds toward your retirement and withdraw them tax-free after you reach 59.5 years old and have had the account for five years — may be a viable option to protect yourself and what you intend
SHOOT FOR
unknown? Kennedy’s speech hints at the human element required and leaves us amazed. What we see in these words is the declaration of a future reality that the speaker has not haphazardly imagined, but rather is wholeheartedly invested in. It was not JFK alone who got us to the moon; sadly, he was killed before this vision came to fruition. But THE MOON these words mark a new chapter in the story of the Space Race for Americans as it reignited our passion and determination.
On July 16, 1969, Apollo 11 successfully landed on the moon. This “giant leap for mankind” has stood as a beacon for what humanity can accomplish when we set our task before us and commit to it. As we celebrate 46 years since the Moon landing, it’s worth taking time to consider what we can learn from the momentous journey that got us there.
Consider Kennedy’s speech: “We choose to go to the moon in this decade and do the other things, not because they are easy, but because they are hard, because that goal will serve to
organize and measure the best of our energies and skills, because that challenge is one that we are willing to accept, one we are unwilling to postpone, and one which we intend to win, and the others, too.” This speech is more than motivational in nature; it is declarative and backed by a group of people willing to commit themselves fully to this goal. Many factors went into landing a team on the moon and returning them home safely. But is it the task that astounds us, or is it the triumph at last in a story of human determination to explore the
The truth of this moonshot is that you are capable of this same feat if you choose to set your future before you and leave your past where it is. Just as the U.S. had to create a new reality where the technology existed and functioned to get a man to the moon, you must create a new reality where your life is as you choose, not as your past dictates. Familiarize yourself with what has been, ground yourself in where you are, and set your eyes on what can be. If you shoot for the stars, you may just land on the moon.
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