Is It the Right Time to Retire?

 Attention, Ela 55+ program participants:

Monthly Spending Plan, University of Illinois Extension (http://web.extension.illinois.edu/toughtimes/docs/monthly_spending_plan.pdf)

Online tracking spending and budgeting tools –  Mint.com

Social Security benefit calculators

To evaluate different claiming strategies:

Net worth calculators and forms.

Retirement income calculators:

SSA Publication 05-10069, How Work Affects Your Benefits (http://www.ssa.gov/pubs/10069.html)

 

Freeze Your Credit Reports for Free

As of September 21, 2018, anyone can freeze, unfreeze, or temporarily thaw a credit report for free. You must do this separately with each of the three major credit reporting agencies:

Equifax.com/personal/credit-report-services or 800-685-1111

Experian.com/help or 888-EXPERIAN (888-397-3742)

TransUnion.com/credit-help or 888-909-8872

How will the Tax Cuts & Jobs Act of 2017 affect you?

There are lots of moving parts to the new tax law, making it difficult to know how it will affect you beginning in 2018.  In three posts that I wrote for University of Illinois Extension’s Plan Well – Retire Well blog, I explain these changes.

  1. To see how your 2018 return will compare to your 2017, Check this head-to-head, line-by-line comparison of your 2017 and 2018 tax returns
  2. To understand how the changes will affect you, you need to know something about Tax Rates
  3. Other changes include Inflation Adjustments, IRAs, 529 Plans, ABLE Accounts, Student Loans, & Estate Tax
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