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.
Subscribe to Our Monthly Newsletter
to receive all the latest RichLife Retirement Resources
![[Senior Planet from AARP] Tips for Charitable Giving Thumbnail](https://static.twentyoverten.com/5e9707abce710223d53221db/0iEsCjLJlR/Tips-For-Charitable-Giving-Senior-Planet-AARP.png)
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.
![[US News and World Report] The Future of Social Security: Will Social Security's COLA Boost Mean Benefits Run Out Sooner? Thumbnail](https://static.twentyoverten.com/5e9707abce710223d53221db/PuD7Z8EMUs/The-Future-of-Social-Security-US-News.png)
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...
![[Wall Street Journal] Should You Get a Joint Bank Account? Thumbnail](https://static.twentyoverten.com/5e9707abce710223d53221db/6sY4oyl7JL/Joint-Checking-Account-WSJ.png)
Should you get a joint bank account? It's a high-impact decision that requires careful consideration and a deep conversation with your partner.
![[Senior Planet] Social Security Update – Means Testing? Thumbnail](https://static.twentyoverten.com/5e9707abce710223d53221db/jUYhNzUW10/social-security-means-testing.jpeg)
Means testing would be a way to extend the viability of Social Security. The annual income of Social Security beneficiaries would be reviewed to determine whether they would receive a reduced benefit or no benefit at all.
![[Senior Planet] Life Insurance: Forgotten Financial Tool Thumbnail](https://static.twentyoverten.com/5e9707abce710223d53221db/iwjy3E7Oj/LIFE-INSURANCE-SENIOR-PLANET.png)
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.
![[FOX 5 WAGA] Interest Rate Hike - A Balancing Act Thumbnail](https://static.twentyoverten.com/5e9707abce710223d53221db/kgKneLXQI/Beau-Fox-5-WAGA-Interest-Rate-Hike.jpg)
This week the Fed raised interest rates again, for the fourth time this year, in an effort to cool off record-high inflation. Is it going to work? I spoke with Good Day Atlanta's Dana Fowle FOX 5 yesterday about what's going on with the economy and how to tell if the Fed's latest rate hike is actually doing what it's intended to do...