Individual Retirement Accounts, called IRAs, are one of the most common and accessible ways to save for retirement. Over the years, the rules governing IRAs have changed. Many people think they know how an IRA works or what they can do with it, but every week I still surprise people with some of the IRA facts I share below. 1.... View Article
Dana here. We, as a firm, received an incredible honor this August. We found out Sensible Money ranks among the 2022 Inc. 5000’s list of fastest-growing privately owned companies in America. As the founder, I’m a bit awe-struck that we’ve been able to take our work from myself and one and a half employees to the fifteen-strong and growing team... View Article
Tax-deferred growth is the winning feature of retirement accounts — traditional IRAs, SEP-IRAs, SIMPLE IRAS, SARSEP IRAs, Roth IRAs, 401(k)s and the like. But, except for distributions from a Roth IRA, you can’t defer income taxes forever. In fact, upon reaching age 72, the IRS requires that you start withdrawing as ordinary income a portion of the money in your... View Article
There are plenty of best practices for growing your money in a 401(k), but in this article, we tackle the rules related to the age at which you can withdraw from 401(k) plans. By withdrawal, we mean taking money out of the plan (preferably gradually), paying your taxes on the withdrawal amount, and spending it. A rollover to an IRA... View Article
Social Security widow and widower benefit rules are complex. The maximum amount of Social Security survivor benefits you are entitled to rests on a host of variables, including your age, the age of the deceased, and how old your spouse was when they began their benefits. Below we lay out the rules. Then we go through a practical example of... View Article
You’ve thought about retirement for years. Now, here you are getting close, and you feel… anxious, nervous, and for some, even terrified. After putting away money for so long, the thought of spending that savings makes all kinds of questions race through your mind. What if the market goes down? What if you don’t have enough? What if a health... View Article
It may be hard to believe, but not everyone wants to retire. However, for those who do, the most common question is, “How quickly can I make retirement happen?” Once you’re ready to retire, it seems the last day of work can’t come soon enough. We’ve worked with many folks who even keep a retirement countdown app on their phone,... View Article
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Sensible Money is honored to rank among America’s Fastest-Growing Private Companies on the Inc. 5000 list.
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