Cory Burnell

People save for a variety of things in retirement. Some dream of vacation homes in tropical destinations, others plan to spend time with grandchildren and family. Of all the activities you are saving for in retirement, did you know that healthcare may have the biggest price tag? One study found that a man would need to save $127,000 and a woman would need to save $143,000 for health care in retirement if they want a 90% chance of being able to pay all their future medical bills. 1 Thankfully, your retirement health costs are not set in stone. Of course, you won’t have total control over your health in retirement, but there are things you can do to manage your health risks and potential costs. Here are a few tips. Get informed   — Medical expertise and advice are constantly changing. Keep yourself up-to-date on healthcare news, particularly with regard to issues that have affected you or those related to you. Ask your doctor to help you identify areas of particular concern. Devel

Tip:  Nearly 70% of workers expect to work for pay in retirement, but only 26% of retirees actually have done so. Source: 2018 Retirement Confidence Survey, EBRI Retirement can have many meanings. For some, it will be a time to travel and spend time with family members. For others, it will be a time to start a new business or begin a charitable endeavor. Regardless of what approach you intend to take, here are nine things about retirement that might surprise you. Many consider the standard retirement age to be 65. One of the key influencers in arriving at that age was Germany, which initially set its retirement age at 70 then lowered it to age 65.¹ Every day between now and the end of the next decade, another 10,000 baby boomers will turn 65. That’s roughly one person every 8 seconds.² In 2016, the latest year for which data is available, people aged 65 and older accounted for 15% of the population in the U.S. By 2060, they are expected to represent more than one-in-four America

As parents, we encourage our children to work so they can learn important values about work and independence. At what point, if at all, do children need to file an income tax return for the money they earn? The IRS does not exempt anyone from the requirement to file a tax return based on age, even if your child is declared as a dependent on your tax return.¹ Your dependent children must file a tax return when they earn above a certain amount of income. Dependent children with earned income in excess of $12,000 must file an income tax return.² Dependent children with unearned income of more than $1,050 must also file a return. And if the dependent child's earned and unearned income together total more than the larger of $1,050, or a total earned income up to $12,000 plus $350. These thresholds are subject to change, so please consult a professional with tax expertise regarding your individual situation. Here's an example. Kyle is a 20 year old college student who'