- Mercer Advisors

4 Key Birthday Milestones in Retirement—and What They Mean for Your Financial Strategy

Birthdays in retirement aren’t just a reason to celebrate—they’re also checkpoints that can unlock new financial opportunities (or trigger important deadlines). From Social Security eligibility to Required Minimum Distributions (RMDs), several key ages mark turning points in your retirement journey. Here are four birthday milestones every retiree should know—and what they mean for your financial strategy. Age 59½ – Penalty-Free Access to Retirement Accounts Reaching age 59½ marks the first major turning point in retirement account [...]

Rebecca Mack2025-06-24T22:29:32+00:00June 24, 2025|Financial Planning, Retirement Income, Retirement Planning|

Retirement Account Management and the Tax Question

Navigating the intricacies of retirement accounts can often feel like charting unfamiliar territory. Whether you're adjusting your investment portfolio or considering contributions and withdrawals, understanding the tax implications is crucial to maximizing your retirement savings. Let's delve into how transactions within Individual Retirement Accounts (IRAs) and 401(k) plans are taxed and how these differ from contributions and withdrawals. Internal Transactions: Selling Stocks Within IRAs and 401(k)s Imagine your retirement account as a greenhouse nurturing your investments. [...]

Rebecca Mack2025-05-28T19:41:29+00:00May 28, 2025|Retirement Income, Retirement Planning, Tax Planning, Tax Strategies, Taxes|

Is a Roth IRA Conversion in Your Future?

Retirees aiming to reduce their taxes in retirement can benefit from strategic conversions and transfers between traditional and Roth Individual Retirement Accounts (IRAs), especially when considering the timing and financial landscape. Identifying optimal windows for Roth conversions can lead to potential tax advantages and could contribute to retirement income. Here are key opportunities to consider: During Market Downturns Market declines can present a prime opportunity for Roth conversions. When the value of your traditional IRA decreases [...]

Rebecca Mack2025-04-17T05:50:05+00:00April 17, 2025|Retirement Income, Retirement Planning|

How Pre-Retirees Can Jumpstart Their Savings in 2025

Catching up on retirement savings can feel daunting, especially if you've started late. However, with strategic planning and commitment, you can build a comfortable nest egg for your future. Here are four actionable steps to help you enhance your retirement savings in 2025. Leverage Catch-Up Contributions For individuals aged 50 and above, the IRS allows additional "catch-up" contributions to retirement accounts. In 2025, you can contribute an extra $7,500 to your 401(k), 403(b), or similar employer-sponsored [...]

Rebecca Mack2025-02-27T18:36:23+00:00February 27, 2025|Retirement Income, Retirement Planning|

How to Know if You Have Enough Saved for Retirement

The most pressing question regarding retirement is, "What amount should I have in savings?" This concern might cross your mind a lot. It could even be a source of significant stress for you. The idea of laboring well into your 70s or 80s is not appealing, so how can you make sure that your savings are enough? Begin from this point: work with a professional to find out the yearly amount you anticipate will be necessary [...]

Rebecca Mack2025-02-07T16:17:08+00:00February 7, 2025|Retirement Income, Retirement Planning|

How Spending and Budgets in Retirement Can Change Over Time

Retirement is often viewed as a static phase of life, but the reality is far more dynamic. As retirees progress through their golden years, their spending habits and budgetary needs can evolve significantly. Understanding these changes is crucial for effective retirement planning and ensuring financial stability throughout this important life stage. The Early Years The initial years of retirement are often characterized by increased spending. Many retirees, newly freed from work commitments, indulge in activities they've [...]

Rebecca Mack2024-12-06T16:15:55+00:00December 6, 2024|Financial Planning, Retirement Income, Retirement Planning|

Differences Between Traditional and Roth IRA

When it comes to planning for retirement, Individual Retirement Accounts (IRAs) are a popular investment option. There are two main types of IRAs: traditional and Roth. Both have their own distinct features, advantages, and drawbacks. In this article, we will explore the key differences between a traditional and a Roth IRA. Tax Treatment One of the main differences between a traditional and a Roth IRA is the way they are taxed. Traditional IRA Contributions to a [...]

Rebecca Mack2024-11-19T20:39:06+00:00November 19, 2024|Investing, Retirement Income, Retirement Planning|

Back to the Basics of Retirement Accounts

Retirement accounts are a cornerstone of today’s retirement strategies. While everyone might recognize the terms “IRA” or “401(k),” it’s important to familiarize yourself with how they work so you can understand how they may play a role in your own retirement strategy and timeline. Once you approach retirement, there are so many ways you can use these types of accounts, or the funds in them, to structure a retirement that works for you. First, let’s understand [...]

Rebecca Mack2024-11-08T11:42:02+00:00November 8, 2024|Retirement Income, Retirement Planning|

How to Turn Your Roth IRA into Regular Income

In retirement, prioritizing stability is crucial—not just the growth of your account value. While it’s tempting to focus on maximizing returns, the reality is that you need a reliable income stream to support your lifestyle and replace your paycheck. Relying on market fluctuations for your financial security can lead to uncertainty and stress. Instead, having a consistent monthly income allows you to keep your savings intact while enjoying your retirement. Is a Roth IRA the Best [...]

Rebecca Mack2024-09-16T15:52:13+00:00September 16, 2024|Retirement Income, Retirement Planning|

The Fed Speaks, Earnings Release, and the Market Drops… But Your Retirement Finances Shouldn’t Care

In recent months, the financial landscape has been marked by unpredictability. The Federal Reserve's recent announcement to maintain interest rates at their current levels has left many investors on edge. While the Fed has signaled a cautious approach, it has not ruled out the possibility of economic struggles ahead, indicating a readiness to lower interest rates if necessary. This uncertainty has coincided with a notable drop in the stock market, particularly following disappointing earnings reports from [...]

Rebecca Mack2024-09-10T15:59:02+00:00September 10, 2024|Economy, Federal Reserve, Retirement Income|