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RichLife Advisors is dedicated to being your go-to resource for information needed to make informed decisions about all aspects of retirement. Founder and visionary, Beau Henderson, has dedicated his life to helping others plan for theirs through his many bestselling books, serving as a local and national media resource, hosting educational events, writing regular blogs, and hosting weekly radio and podcast shows.

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[US News and World Report] The Future of Social Security: Will Social Security's COLA Boost Mean Benefits Run Out Sooner? Thumbnail

[US News and World Report] The Future of Social Security: Will Social Security's COLA Boost Mean Benefits Run Out Sooner?

The 8.7% Social Security cost-of-living increase scheduled to be paid beginning in 2023 will provide vital income to retirees struggling to keep up with inflation. And it could also put increased financial strain on the Social Security program. Here's a look at what could happen to Social Security in the future and some of my thoughts about what I expect Congress to do moving forward...

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[Senior Planet] Life Insurance: Forgotten Financial Tool Thumbnail

[Senior Planet] Life Insurance: Forgotten Financial Tool

Life insurance should be a key component of your financial plan, especially for retirees and pre-retirees. For very specific goals and needs, it can be the best tool to use. It can provide tax-free income for your children and grandchildren, replacement income in the event of the death of a spouse, be an additional source of retirement income for high-net worth individuals and even help your heirs pay estate taxes.

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[Barron's] 5 Things to Know Before Retiring Outside the U.S. Thumbnail

[Barron's] 5 Things to Know Before Retiring Outside the U.S.

The number of Americans considering retiring outside the U.S. is growing daily. Retiring abroad is far more complicated than you'd imagine. We've been working with a client for an entire year now who plans on retiring to Mexico. And, she is just beginning to feel ready to make the move. Without proper planning, retiring abroad can easily be derailed by financial, emotional, and health-care-related issues. Here are five tips to help soon-to-be retirees and their financial advisors plan ahead: 1. Do your homework. It’s important to map out a process. This is a major life transition. 2. Understand the banking options. Things work differently abroad. You need to know how you will bank and access your money. 3. Take a test drive. Before settling there permanently, take an extended vacation in the location you are considering. 4. Consult with an international tax expert. If you’re an American citizen or resident alien, you most likely will still have to pay taxes in the U.S. regardless of where you live. And, the tax rules are different for every country. 5. Think long-term. Many couples retire to a foreign country when they are healthy. What will happen if one or both end up needing medical or long-term care?

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