Women and Retirement: Navigating Life Transitions with Clarity and Confidence

Women are achieving unprecedented levels of education and success. They control over 50% of America’s wealth and play a significant role in managing their family’s finances. However, when it comes to retirement planning, they often find themselves on the sidelines, a fact acknowledged by financial experts. This disengagement can profoundly impact their lives once they reach retirement age.

[FA Magazine] Financial Planning For Couples Who Totally Disagree

“For richer, for poorer” sounds good in wedding vows, yet it doesn’t even touch on the many financial problems American couples face today. And every financial professional I know has had to deal with couples who simply aren’t on the same page financially.

How do you, the trusted financial advisor, handle a situation like that? Here are a few recommendations that could help…

It’s Spring! 8 Tips to Deep Clean Your Finances

People usually deep clean their homes a couple of times a year. It’s a good thing to do with your finances, too. These eight tips will help you get started.

[US News and World Report] Should You Consult a CFP or CPA to Plan for Retirement?

Have you ever wondered if there’s a difference between a Certified Financial Planner (CFP) and a Certified Public Accountant (CPA), and which one you should consider working with to help you plan for retirement?

This US News and World Report article provides an in-depth discussion about their different areas of specialization and how they can work together in a complimentary manner as part of your retirement planning team.

[CNET] How Young Retirees Sidestep Early 401(k) Withdrawal Penalties

Want to retire early? A Roth conversion ladder allows you to sidestep the hefty early withdrawal fees that come with 401(k)s and other retirement accounts.

[Forbes Advisor] What Is A Retirement Income Certified Professional (RICP)?

Since there aren’t many do-overs when it comes to your retirement income, the most important thing is that you are confident that your financial advisor has the training and skills to help you maximize your income while reducing your tax liability so you have enough money in the decades following your retirement.

If you’re within 10 years of retiring, you’ll benefit most from working with an RICP. The earlier you engage an RICP inside that window, the better.

Not sure if you should change advisors? This article in Forbes Advisor details the differences between CFPs, CRPCs and RICPs and how they can help you make sure your hard-earned savings last as long as you do.

[Senior Planet from AARP] Year-End Tax Strategies

There have been quite a few recent changes to tax laws that have had a big impact on retirees, and even more are coming down the pike.

I KNOW this is busy time of the year for everyone! Regardless, you have got to make an appointment with your accountant and financial planner before the end of the year to make sure you’re taking advantage of the best year-end tax strategies for your situation — now and in the future.

Here are five solid tax considerations for seniors and retirees…

[Marketwatch] COVID-19 Hit Retirees Hard – 6 Ways To Recover Financially

COVID-19 hit retirees especially hard. 2022 created a perfect storm — rising interest rates, assets dropping with the market and increasing inflation.

That generated a lot of negative emotions like anxiety and fear for many people — especially retirees, many of whom were forced to retiree before they were ready, and those who depend on Social Security for the majority of their income. But there are ways to move out of this time.

One of the most important things you can do right now is get a strategy in place for the next downturn. That way, the next time something happens with the market or in the world, you’ll be in the best position possible to survive it.

This MarketWatch article covers a few more things you can do to better prepare yourself for the next time things go sideways…

[Gainesville Times] RichLife Advisors Partners with The Salvation Army Angel Tree Program to Support Gainesville Children in Need

Richlife Advisors, an Atlanta-based wealth management and retirement planning firm, in partnership with the Salvation Army, will be a designated location for local residents to select a Salvation Army Angel Tree tag and a drop-off location for the gift donation. The Salvation Army Angel Tree Program helps provide holiday gifts for thousands of underprivileged children each year.

[Senior Planet from AARP] Tips for Charitable Giving

A Qualified Charitable Distribution could be helpful if you are taking RMDs to reduce your taxable income. With a QCD you are making a donation to the charities of your choice directly from your IRA. This strategy both deducts the amount donated to your charity from your taxable income and meets the requirements for your required minimum distribution RMD.