Introducing Retire with Money...in Audio!

|

Email not displaying correctly? View it in your browser.

Subscribe to MONEY Magazine Every so often, readers write me in hopes that I can help them avoid paying taxes on their retirement savings. Surely there’s a way to circumvent the tax bill on the money in their traditional 401(k) or IRA, they argue? If I had such clever strategies up my sleeve, I’d probably be retired myself, kicking back in some tropical paradise after having made millions off my consulting work. You see, Uncle Sam doesn’t let us off that easy. There’s trillions of dollars sitting in U.S. retirement accounts, and the government isn’t going to stand by and let that revenue source go riding off into the sunset. Enter required minimum distributions, the amount that you’re required to withdraw from your tax-deferred retirement accounts, and pay taxes on, starting at age 70 ½. If you understand this requirement, and start planning for it well in advance, then it is possible to postpone or reduce your tax bill. Learn more about how in today’s edition. Too busy to read the featured stories? You can now listen to Retire with Money on your devices! Click here for details. Best wishes, Elizabeth P.S. If you like this newsletter, please pass it on to a friend! And if you got it from a friend, sign up here for email delivery to make sure you don’t miss the next issue. TIMELY RETIREMENT NEWS, INSIGHTS AND ADVICE This 70-Year-Old Nearly Missed a Key Retirement Tax Deadline. Here’s What He Wished He’d Known Sooner The earlier you begin to plan, the better. You Can Now Listen to MONEY's Retire With Money Newsletter as a Podcast Here's how. These Are the Best Days to Buy a Christmas Tree, According to an Analysis of 200,000 Sales Some weekends are more expensive than others. READER INSIGHTS Thanks to all who participated in our book talk this Tuesday with Joan Frank, author of our November book title, All the News I Need! We had a great discussion. For those not on Facebook, I will share Joan’s thoughts on aging: What seems clearest to me about aging, and about ways we encounter just about everything that inevitably happens to us as we age, is something intangible but realer than real: SPIRIT. Resolve. Zest. Clarity of purpose and vision. Determination to seize precious remaining time. Given the inevitability of loss of various kinds---physical diminishment, tragedies, difficulties, what Zorba the Greek called "the full catastrophe"---all this should somehow make us the more passionate for staying on, seeing what happens next, and allowing that understanding to enrich and nourish us. It’s time to choose our book for December! We’ll be switching back to non-fiction, and our theme is health care--which, as we all know, can have a big impact on our finances. We’ll vote early next week, so please send me any nominations at retirewithmoney@moneymail.com. Thank you! RETIREMENT NEWS FROM AROUND THE WEB The Myth of Steady Retirement Spending, and Why Reality May Cost Less Research shows that spending actually declines through much of retirement, with increases in health care spending more than offset by decreases in other categories. THE NEW YORK TIMES New Divorce Tax Rules Could Leave You With a Big Financial Disadvantage If you don’t finalize your divorce by Dec. 31, you’ll be subject to big changes in alimony next year. CNBC Money Disasters Can Derail Retirement Build up your cushion so layoffs and health challenges won’t decimate your retirement savings. REUTERS Why People in their 50s and 60s are Having Cataract Surgery Thank improved technology. NEXT AVENUE ABOUT ELIZABETH Elizabeth O'Brien is a senior writer at MONEY, covering retirement and health care. You can email her at elizabeth.o'brien@moneymail.com and follow her on Twitter at @elizobrien. To Unsubscribe You have received this e-mail because you are subscribed to this newsletter from MONEY.com. Unsubscribe here. Update Email Click here to update your email address. Privacy Policy Please read our Privacy Policy. MONEY may receive compensation for some links to products and services on this website. Offers may be subject to change without notice. For Further Communication Please email retirewithmoney@moneymail.com Money Customer Service 3000 University Center Drive Tampa, FL 33612-6408 Connect with Money Find Money on Facebook Follow Money on Twitter Subscribe to more MONEY Newsletters Get Money Magazine on your Mobile Device Get MONEY on your iPad Subscribe to RSS Feed Subscribe to MONEY Magazine