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Retirement Planning

Home Equity

As a knowledgeable professor in the field of finance, it is important to understand the concept of home equity. This refers to the value of your home after subtracting all debts, such as your mortgage, home equity loan, and home equity line of credit. As you near retirement, your home equity can become a significant financial asset, especially if you are open to selling your home and downsizing to a more affordable property.

Required Minimum Distribution (RMD)

The Internal Revenue Service (IRS) requires individuals with an Individual Retirement Account (IRA) to withdraw a minimum amount each year once they reach the age of 70½. Th...

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Roth IRA

The Roth IRA, a popular type of individual retirement account, was created through the Taxpayer Relief Act of 1997. Unlike traditional IRAs, contributions to a Roth IRA are ...

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Rollover IRA

An Individual Retirement Account, or IRA, is designed to hold assets from a qualified plan for those who are eligible. This plan allows for tax-deferred growth of investment...

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Tax-Deferred

Tax deferral refers to the delay of taxes and often the initial investment, until the funds are disbursed. This strategy is commonly used in retirement planning, allowing in...

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